ECB head making opening remarks at scheduled forum 7 Nov
Correction to original headline.
It's all about banking supervision so I'm not expecting any great revelations anyway
- it's clearthat European supervision has been instrumental in building a stronger and more resilient banking secto
- sees no sign of credit-fuelled housing bubbles
- NPL problem not yet solved
- EU supervision and mon pol are complementary
- stronger supervision has improved the transmission of our policy impulses through banks.
- Credit risk exposures in banks' loan books have declined as monetary policy has eased.
- Default rates have fallen, and forward-looking measures also suggest a decline in credit risk.
Full remarks here
EURUSD currently back up to 1.1573 but EURGBP still trawling around session lows.
More order boards on their way.
