What is the public good of banking and banking supervision? Is there a trade-off between shareholder value and the wider public interest? How does the creation of private value in banking align with the public interest? What roles do regulation and supervision play in maintaining a balance?
• Richard Gnodde, Vice Chairman, Goldman Sachs
• Jella Benner-Heinacher, President, Better Finance
Moderator: Naomi Lloyd, TV journalist
Every two years the Forum brings together high-level policymakers, academics, financial executives and experts to exchange views on current developments in banking and supervision.
What disruptors are challenging our status quo, and how should banks respond to prevalent uncertainty? How are geopolitics shaping the financial sector? Have a look at the programme and join inspiring discussions.
The conference took place on 13 and 14 November 2025 in Frankfurt am Main.
Watch all sessions from the conference: https://studio.youtube.com/playlist/PLnVAEZuF9FZntfWjUXWUomE2ws12ca_6I/edit
See the conference programme here:
https://www.bankingsupervision.europa.eu/press/conferences/html/20251113_6th_ECB_Forum_Banking_supervision.en.html
Business life has become more uncertain. Banks and supervisors must keep pace with various global dynamics, but staying the course is challenging when conditions are changing fast. What are the main disruptors and challenges for banks right now? What is driving the disruption: geopolitics, climate change, artificial intelligence, cyber security? What strategies should banks pursue to remain competitive, sound and stable?
• Andrea Orcel, Group Chief Executive Officer, UniCredit
• Sharon Donnery, Member of the Supervisory Board of the ECB
• Britta Schmidt, Senior Analyst, Autonomous
Moderator: Nicholas Comfort, Finance reporter, Bloomberg
Every two years the Forum brings together high-level policymakers, academics, financial executives and experts to exchange views on current developments in banking and supervision.
What disruptors are challenging our status quo, and how should banks respond to prevalent uncertainty? How are geopolitics shaping the financial sector? Have a look at the programme and join inspiring discussions.
The conference took place on 13 and 14 November 2025 in Frankfurt am Main.
Watch all sessions from the conference: https://studio.youtube.com/playlist/PLnVAEZuF9FZntfWjUXWUomE2ws12ca_6I/edit
See the conference programme here:
https://www.bankingsupervision.europa.eu/press/conferences/html/20251113_6th_ECB_Forum_Banking_supervision.en.html
Every two years the Forum brings together high-level policymakers, academics, financial executives and experts to exchange views on current developments in banking and supervision.
What disruptors are challenging our status quo, and how should banks respond to prevalent uncertainty? How are geopolitics shaping the financial sector? Have a look at the programme and join inspiring discussions.
The conference will take place on 13 and 14 November 2025 in Frankfurt am Main.
See the conference programme here:
https://www.bankingsupervision.europa.eu/press/conferences/html/20251113_6th_ECB_Forum_Banking_supervision.en.html
Our payment habits are changing. With digital payments on the rise, we need to preserve people’s freedom to choose how to pay: there’s cash, card, online transfers – and soon, we could have a digital euro.
But what is the digital euro, and how will it work? Will it replace cash? Concerns about data security and government control have sparked debate around the digital euro, often fuelled by disinformation.
We separate fact from fiction as our host Stefania Secola teams up with Aidas Palubinskas from EU Finance Podcast to speak to Executive Board member Piero Cipollone about modernising our money.
The views expressed are those of the speakers and not necessarily those of the European Central Bank.
Recorded on 4 November 2025 and published on 13 November 2025.
In this episode:
02:18 The digital what?
What is the digital euro, and how will it work in practice? Don’t we already pay digitally?
13:48 What will happen to cash?
Would introducing the digital euro mean the end of cash? And could it take away business from banks and other financial service providers?
16:25 How secure would the digital euro be really?
What about hackers? Will our money be safe, and will the digital euro affect the integrity of the payments system?
19:31 Did someone say Big Brother?
Will central banks, governments and other authorities have access to our data ? How private will our payments really be?
24:52 When will we have a digital euro?
Where are we in the process and what are the next steps? How are EU institutions like the European Commission and the European Parliament involved in the digital euro project?
29:17 Our guests’ hot tips
Piero Cipollone shares his hot tip.
EU Finance Podcast – the future of finance
https://finance.ec.europa.eu/eu-finance-podcast-future-finance_en
Digital euro
https://www.ecb.europa.eu/euro/digital_euro/html/index.en.html
President Lagarde explains the next digital euro phase
https://www.instagram.com/reel/DQd60z9jfjV/?igsh=MTV2OW4zNXp5cHJvNA==
The ECB Podcast: The digital euro, demystified https://www.ecb.europa.eu/press/tvservices/podcast/html/ecb.pod231024_episode71.en.html
Press release: Eurosystem moving to next phase of digital euro project, 30 October 2025
https://www.ecb.europa.eu/press/pr/date/2025/html/ecb.pr251030~8c5b5beef0.en.html
The ECB Blog: Making euro cash fit for the future https://www.ecb.europa.eu/press/blog/date/2025/html/ecb.blog20250804~9d3993abe0.en.html
Fit of the digital euro in the payment ecosystem https://www.ecb.europa.eu/euro/digital_euro/timeline/profuse/shared/pdf/ecb.deprep251030_digital_euro_fit_payment_ecosystem_report.en.pdf
Every two years the Forum brings together high-level policymakers, academics, financial executives and experts to exchange views on current developments in banking and supervision.
What disruptors are challenging our status quo, and how should banks respond to prevalent uncertainty? How are geopolitics shaping the financial sector? Have a look at the programme and join inspiring discussions.
The conference will take place on 13 and 14 November 2025 in Frankfurt am Main.
See the conference programme here:
https://www.bankingsupervision.europa.eu/press/conferences/html/20251113_6th_ECB_Forum_Banking_supervision.en.html
Session 4 on non-banks at the 2025 Money Markets conference.
Banks’ balance-sheet costs, monetary policy, and the ON RRP
• Presenter: Gabriele La Spada, Federal Reserve Bank of New York
• Gara Alfonso and Marco Cipriani, both Federal Reserve Bank of New York
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZn2pK-WLVNXERH0hPmXmggt
See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251106_money_markets.en.html
Session 1 on central bank operations and balance sheet at the 2025 Money Markets conference.
From Purchases to Exit – Central Bank Interventions in Corporate Debt Markets
• Presenter: Johannes Breckenfelder, European Central Bank
• Glenn Schepens, European Central Bank
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZn2pK-WLVNXERH0hPmXmggt
See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251106_money_markets.en.html
Session 1 on central bank operations and balance sheet at the 2025 Money Markets conference.
A Tale of Demand and Supply for Central Bank Reserves
• Presenter: Sriya Anbil, Federal Reserve Board
• Sebastian Infante and Zeynep Senyuz, both Federal Reserve Board
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZn2pK-WLVNXERH0hPmXmggt
See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251106_money_markets.en.html
Session 4 on non-banks at the 2025 Money Markets conference.
Banks’ balance-sheet costs, monetary policy, and the ON RRP
• Presenter: Gabriele La Spada, Federal Reserve Bank of New York
• Gara Alfonso and Marco Cipriani, both Federal Reserve Bank of New York
Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZn2pK-WLVNXERH0hPmXmggt
See the conference programme here:
https://www.ecb.europa.eu/press/conferences/html/20251106_money_markets.en.html
