Frank Elderson
Rule of law of ‘highest relevance’ for central banks – Elderson
Economic growth requires institutional independence and strong legal framework, ECB board member says
Energy data is ‘must-have’ for managing credit risk – Elderson
ECB board member calls for real data from energy efficiency certificates instead of proxies
ECB official apologises for ‘reprogramming’ remarks
Elderson tells staff he believes in open debate on environmental matters after outcry
ECB sets 2024 climate change deadline for big eurozone banks
Most ECB-supervised banks failing to implement climate change plans, Elderson says
Europe’s banks must change climate risk approach, ECB says
ECB’s first climate change stress test finds 60% of lenders lack stress-testing frameworks
ECB supervision and the state of the eurozone’s banks
ECB banking supervision has passed the first stage of the Covid-19 test. But many challenges remain, including banks’ internal governance and data processing, excessive leveraged lending in some segments, and a lack of progress towards a more competitive…
ECB criticises Polish law on cash use
Frank Elderson says law “may not be in public interest” and says government failed to consult ECB
ECB says banks are falling short on climate risk
Actions are “too slow” and no supervised bank is “close” to meeting expectations, central bank says
EU should demand banks set climate transition plans – Elderson
Officials acknowledge climate risk has become central topic, but say most institutions fail to meet supervisory requirements
DNB unveils sustainability policy
Dutch central bank sets out four-year green plan – investments must be “Paris-aligned”
ECB likely to shy away from AIT in new monetary policy framework
Symmetric 2% target is expected outcome; governing council members struggle to agree on forward guidance
BoE outlines climate stress tests
Tests planned as “learning exercise” and will not be used to set capital requirements
NGFS unveils second set of climate change scenarios
New scenarios use NiGEM macro model and take much more granular approach, officials say
Sizing the benefits and risks of our climate ambition
Fixing climate change is likely to entail substantial risks, new NGFS scenarios show. Firms and supervisors must seize this opportunity to adapt, write Sarah Breeden and Frank Elderson
Central banks face legal risk over climate – ECB’s Elderson
NGOs could sue central banks for failure to take suitable action over climate change, says NGFS chair
Weidmann drops opposition to ‘greening’ ECB bond holdings
Bundesbank president says ECB could limit purchases of corporate bonds from some sectors
Mandatory climate disclosures needed now – senior central bankers
Greening monetary policy operations should also be a priority, policy-makers say
ECB officials suggest dropping market neutrality
Isabel Schnabel and Frank Elderson say climate change requires new approach to bond purchases
People: Elderson approved as vice-chair of ECB supervisory council
Former Canadian deputy Wilkins joins insurance company; Japan nominates new policy board member; Rwandan deputy gains role at African Union Commission; and more
A ‘love-hate’ relationship with ESG screens
ESG screens seen as a first step in adopting sustainable investment practices, so why do so few central banks use them?
Federal Reserve joins NGFS
Seven other organisations join as Trump defeat frees Fed to join green network