ECB Governing Council Decisions July 2026: Key Changes to Collateral Framework
The ECB Governing Council adopted several decisions in July 2026, including the permanent integration of non-financial corporate loan portfolios into the Eurosystem general collateral framework, effective November 2027, and the extension of climate risk factors to NFC credit claims. Additionally, the Council approved operational parameters for the enhanced Eurosystem repo facility for central banks (EUREP) and decided on reclassification of financial subsidiaries of NFCs for haircut purposes.
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ECB July 2026 Accounts: Geopolitical Risk, Energy Shocks, and the Case for a Policy Pause
ECB keeps rates unchanged but leaves further hikes on the table: The ECB's July meeting account confirms that interest rates were kept unchanged amid high uncertainty. While inflation had eased, members remained concerned about upside risks from energy prices and geopolitical tensions, with further rate increases still possible if the inflation outlook does not improve.
27 Aug 2026
Isabel Schnabel: Central banks on-chain
ECB explores the future of central bank money in tokenised markets: In a speech at Jackson Hole, ECB Executive Board member Isabel Schnabel highlighted the potential of tokenisation to improve the efficiency and integration of financial markets. She stressed that central bank money should play a central role in the emerging DLT ecosystem and outlined the Eurosystem's ongoing work through Projects Appia and Pontes.
28 Aug 2026
ECB Consumer Expectations Survey: July 2026 Inflation Expectations Edge Down
The ECB's July 2026 Consumer Expectations Survey shows a slight decline in perceived and expected inflation over short and medium horizons, while five-year expectations hold at 2.4%. Income growth expectations weakened and labour market sentiment softened, with higher job-loss expectations among employees. These indicators offer early signals for household demand and credit conditions relevant for risk monitoring.
21 Aug 2026