Supervision Newsletter – May 2026

Source: European Central Bank (video statements)

"Market fragmentation is banks’ real constraint"

Supervision will not pivot away from resilience, says Frank Elderson, Vice-Chair of the ECB Supervisory Board, stressing that the banking union is key to competitiveness. He clarifies that ECB guidance is not law and explains the risks behind Anthropic’s Mythos.

Read the full interview here:
https://www.bankingsupervision.europa.eu/press/interviews/date/2026/html/ssm.in260513~cb8e1269c5.en.html

https://www.youtube.com/watch?v=babRYzEG3AY

Bulgaria’s euro changeover: what happened to prices? With Christine Gartner and Ginevra Aguiari

Source: European Central Bank (video statements)

Did prices rise when Bulgaria adopted the euro? Or were fears of inflation misplaced? The numbers tell a clear story.

Christine Gartner and Ginevra Aguiari talk about what really happened to prices and inflation in Bulgaria and explain how perceptions and expectations have changed.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Further reading
The ECB Blog – Euro adoption and price increases in Bulgaria: separating myths from facts
https://www.ecb.europa.eu/press/blog/date/2026/html/ecb.blog20260409~cc951a0d29.en.html

ECB Instagram
https://www.instagram.com/europeancentralbank

https://www.youtube.com/watch?v=ulwG5yjB5nQ

Fireside chat with Enrico Letta | European Financial Integration 2026

Source: European Central Bank (video statements)

Fireside chat: “Is the strategy for building the savings and investments union effective?”

Enrico Letta, President of the Jacques Delors Institute and former President of the Italian Council of Ministers

Moderator: Rebecca Christie, Senior Fellow, Bruegel

The conference took place on 7 May 2026.

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/260507-european-financial-integration.en.html

Watch all sessions from the conference:
https://www.youtube.com/watch?v=P1Y49BF8mTQ&list=PLnVAEZuF9FZlLRLPr0lrYXqh4DcZfWRBT

https://www.youtube.com/watch?v=-1b8sBYKZ7w

Keynote speech: Albuquerque | European Financial Integration 2026

Source: European Central Bank (video statements)

Keynote speech by Maria Luís Albuquerque, European Commissioner for Financial Services and the Savings and Investments Union, at the joint conference of the European Commission and the European Central Bank “European Financial Integration 2026”.

The conference took place on 7 May 2026.

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/260507-european-financial-integration.en.html

Watch all sessions from the conference:
https://www.youtube.com/watch?v=P1Y49BF8mTQ&list=PLnVAEZuF9FZlLRLPr0lrYXqh4DcZfWRBT

https://www.youtube.com/watch?v=UBqjUsz7PuQ

Keynote speech: De Guindos | European Financial Integration 2026

Source: European Central Bank (video statements)

Keynote speech by Luis De Guindos, Vice-President of the European Central Bank, at the joint conference of the European Commission and the European Central Bank “European Financial Integration 2026”.

The conference took place on 7 May 2026.

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/260507-european-financial-integration.en.html

Watch all sessions from the conference:
https://www.youtube.com/watch?v=Pl21D9J6kVk&list=PLnVAEZuF9FZlLRLPr0lrYXqh4DcZfWRBT

https://www.youtube.com/watch?v=P1Y49BF8mTQ

Session 2 | European Financial Integration 2026

Source: European Central Bank (video statements)

Session 2

How can a more integrated banking sector enhance the competitiveness of the EU economy?

Chair: Frank Elderson, member of the Executive Board and Vice-Chair of the Single Supervisory Mechanism, ECB

Panellists:
• Jonás Fernández Álvarez, Member of the European Parliament (Progressive Alliance of Socialists and Democrats) and member of the European Parliament’s Committee on Economic and Monetary Affairs
• María Abascal, Director General of the Spanish Banking Association and Chair of EBF Executive Committee
• Britta Schmidt, Senior EU Banks Analyst, Autonomous Research
• Ignazio Angeloni, Senior Policy Fellow, Leibniz Institute for Financial Research SAFE (Sustainable Architecture for Finance in Europe), Goethe University Frankfurt

The conference took place on 7 May 2026.

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/260507-european-financial-integration.en.html

Watch all sessions from the conference:
https://www.youtube.com/watch?v=P1Y49BF8mTQ&list=PLnVAEZuF9FZlLRLPr0lrYXqh4DcZfWRBT

https://www.youtube.com/watch?v=BVY64bkffe8

Presentation of the reports | European Financial Integration 2026

Source: European Central Bank (video statements)

Presentation of the ECB’s report on Financial Integration and Structure in the Euro Area:
John Fell, Deputy Director General of the Directorate General Macroprudential Policy and Financial Stability, ECB

Presentation of the European Commission’s European Financial Stability and Integration Review:
Alexandra Jour-Schroeder, Deputy Director-General of the Directorate-General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA), European Commission

The conference took place on 7 May 2026.

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/260507-european-financial-integration.en.html

Watch all sessions from the conference: https://www.youtube.com/watch?v=P1Y49BF8mTQ&list=PLnVAEZuF9FZlLRLPr0lrYXqh4DcZfWRBT

https://www.youtube.com/watch?v=TxTAQ5FuL1E

Session 1 | European Financial Integration 2026

Source: European Central Bank (video statements)

From pillars to portfolios: rethinking pensions for an entrepreneurial Europe

Chair: Alexandra Jour-Schroeder, Deputy Director-General of DG FISMA, European Commission

Panellists:
• Stéphanie Yon-Courtin, Member of the European Parliament (Renew Europe Group)
• Geraldine Leegwater, CEO, PGGM Investment Management
• Beate Petry, Head of Global Pensions & Benefits, BASF SE, and Chairwoman of the Arbeitsgemeinschaft für betriebliche Altersversorgung e.V. (German pension association)
• Patrick Hoedjes, Head of the Policy and Supervisory Convergence Department, European Insurance and Occupational Pensions Authority
• Tabea Bucher-Koenen, Professor of Finance, University of Mannheim, and Head of the Pensions and Sustainable Financial Markets Research Unit, Leibniz Centre for European Economic Research (ZEW)

The conference took place on 7 May 2026.

See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/260507-european-financial-integration.en.html

Watch all sessions from the conference:
https://www.youtube.com/watch?v=P1Y49BF8mTQ&list=PLnVAEZuF9FZlLRLPr0lrYXqh4DcZfWRBT

https://www.youtube.com/watch?v=v-2wZov5kHE