The Next Financial Crisis? | Tenth ECB Annual Research Conference 2025 | Day 1

Source: European Central Bank (video statements)

ECB Annual Research Conference joint with Stanford’s Hoover Institution on “The Next Financial Crisis?”.

The tenth ECB Annual Research Conference is organised jointly with Stanford’s Hoover Institution and brings together policymakers and academics to discuss how current regulations, supervisory practices, (conventional and unconventional) monetary policy, and technological innovations shape financial fragility.

The conference takes place on 17 and 18 September 2025 as a hybrid event.

See the conference programme here: https://www.ecb.europa.eu/press/conferences/html/20250917_10th_ecb_annual_research_conference.en.html

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

The Next Financial Crisis? | Tenth ECB Annual Research Conference 2025 | Day 2

Source: European Central Bank (video statements)

ECB Annual Research Conference joint with Stanford’s Hoover Institution on “The Next Financial Crisis?”.

The tenth ECB Annual Research Conference is organised jointly with Stanford’s Hoover Institution and brings together policymakers and academics to discuss how current regulations, supervisory practices, (conventional and unconventional) monetary policy, and technological innovations shape financial fragility.

The conference takes place on 17 and 18 September 2025 as a hybrid event.

See the conference programme here: https://www.ecb.europa.eu/press/conferences/html/20250917_10th_ecb_annual_research_conference.en.html

https://www.youtube.com/watch?v=5-AkeS5Y-xI

Love is a gamble, but not seeing eye to eye over banknotes is a real deal-breaker 💶💔🎲

Source: European Central Bank (video statements)

As we’re about to redesign our euro banknotes, why not look back at some of the entries for our original design contest in 1996?

💭 Inspired by our friends @bankofenglanduk

#EuroBanknotes #SingleCurrency #EuropeanCentralBank #Euro #Europe #ECB #MarriageIsScary #BOEMuseum #BankofEnglandMuseum

https://www.youtube.com/shorts/S-fgA3C5ioc

President Lagarde presents the latest monetary policy decisions – 11 September 2025

Source: European Central Bank (video statements)

Today our Governing Council decided on monetary policy.

Listen to President Christine Lagarde present today’s decisions. The statement also covers:

• how the economy is performing
• how we expect prices to develop
• the risks to the economic outlook
• the dynamics behind financial and monetary conditions

Published and recorded during our press conference on 11 September 2025.

Our monetary policy statement at a glance, 11 September 2025
www.ecb.europa.eu/press/press_conf…eptember.en.html

Christine Lagarde, Luis de Guindos: Monetary policy statement, 11 September 2025
www.ecb.europa.eu/press/press_conf…3675b834.en.html

Monetary policy decisions, 11 September 2025
www.ecb.europa.eu/press/pr/date/20…fb7a9490.en.html

Combined monetary policy decisions and statement, 11 September 2025
www.ecb.europa.eu/press/press_conf…f624f06ba.en.pdf

Macroeconomic projections, 11 September 2025
www.ecb.europa.eu/press/projection…da697d54.en.html

European Central Bank
www.ecb.europa.eu/home/html/index.en.html

https://www.youtube.com/watch?v=TbW8Mz8MBG0

Closing remarks | 2025 European Systemic Risk Board conference

Source: European Central Bank (video statements)

Closing remarks by Francesco Mazzaferro, Head of the European Systemic Risk Board (ESRB) Secretariat, at the ninth annual ESRB conference.

Senior policymakers, central bankers and leading academics gathered to discuss “Broadening Horizons: The ESRB’s Next Decade of Impact.”

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnF_n2uxkH2fdSPyfoNzz9f

See the conference programme here: https://www.esrb.europa.eu/news/schedule/2025/html/20250903_9th_annual_conference.en.html

https://www.youtube.com/watch?v=4l5s8ZGtVVc

Special address | 2025 European Systemic Risk Board conference

Source: European Central Bank (video statements)

Special address by Maria Luís Albuquerque, Commissioner for Financial Services and the Savings and Investment Union, at the ninth annual ESRB conference .

The 2025 ESRB conference theme is “Broadening Horizons: The ESRB’s Next Decade of Impact.”

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnF_n2uxkH2fdSPyfoNzz9f

See the conference programme here: https://www.esrb.europa.eu/news/schedule/2025/html/20250903_9th_annual_conference.en.html

https://www.youtube.com/watch?v=3Fzt9DN4l9Q

The future of AI | 2025 European Systemic Risk Board conference

Source: European Central Bank (video statements)

Yoshua Bengio, Professor at the Université de Montréal, delivered a keynote speech on “The future of AI – and considerations for systemic risks” at the ninth annual European Systemic Risk Board conference.

Response by Leonardo Gambacorta, Head of Emerging Markets at the Bank for International Settlements.

The 2025 ESRB conference theme is “Broadening Horizons: The ESRB’s Next Decade of Impact.”

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnF_n2uxkH2fdSPyfoNzz9f

See the conference programme here: https://www.esrb.europa.eu/news/schedule/2025/html/20250903_9th_annual_conference.en.html

https://www.youtube.com/watch?v=GSX4Vh8bff4

System-wide stress testing | 2025 European Systemic Risk Board conference

Source: European Central Bank (video statements)

The expanding role of non-bank financial intermediaries and the rising interconnectedness within the financial system call for a system-wide approach to stress testing. This panel will explore how macroprudential authorities can address the challenges involved in implementing such an approach.

Panellists:
• Viral Acharya, C.V. Starr Professor of Economics, Leonard N. Stern School of Business
• Nathanaël Benjamin, Executive Director, Financial Stability Strategy and Risk, Bank of England
• Rama Cont, Professor, Oxford University
• John Fell, Deputy Director-General, Macroprudential Policy and Financial Stability, European Central Bank
Chair: Aino Bunge, Deputy Governor of Sveriges Riksbank, Vice-Chair of the ESRB Advisory Technical Committee

The 2025 ESRB conference theme is “Broadening Horizons: The ESRB’s Next Decade of Impact.”

Watch all sessions from the conference: https://www.youtube.com/playlist?list=PLnVAEZuF9FZnF_n2uxkH2fdSPyfoNzz9f

See the conference programme here: https://www.esrb.europa.eu/news/schedule/2025/html/20250903_9th_annual_conference.en.html

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

2025 Ieke van den Burg prize | 2025 European Systemic Risk Board conference

Source: European Central Bank (video statements)

The ESRB’s Advisory Scientific Committee awards the Ieke van den Burg prize to recognise outstanding research conducted by young scholars on a topic related to the ESRB’s mission.

Co-authors Arved Fenner (University of Münster), Philipp Klein (University of Münster) and Carina Schlam (Deutsche Bundesbank and University of Münster), will present their award-winning paper, “Better Be Careful: The Replenishment of ABS backed by SME Loans,” which has been selected as the winner of the 2025 edition of the prize.

Chair: Vasso Ioannidou, Member of the ESRB Advisory Scientific Committee, Professor, Bayes Business School

Learn more about the prize and see past winners: https://www.esrb.europa.eu/about/orga/asc/ieke/html/index.en.html

See the conference programme here: https://www.esrb.europa.eu/news/schedule/2025/html/20250903_9th_annual_conference.en.html

https://www.youtube.com/watch?v=Od8sIXwZeSA

The EU in a changing geopolitical landscape | 2025 European Systemic Risk Board conference

Source: European Central Bank (video statements)

Adam Posen, President of the Peterson Institute for International Economics, delivers a keynote speech on “The EU in a changing geopolitical landscape” at the ninth annual European Systemic Risk Board conference.

Response by Thorsten Beck, Chair of the ESRB Advisory Scientific Committee and Director and Professor at the European University Institute.

The 2025 ESRB conference theme is “Broadening Horizons: The ESRB’s Next Decade of Impact.”

See the conference programme here: https://www.esrb.europa.eu/news/schedule/2025/html/20250903_9th_annual_conference.en.html

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