Draghi Speech: The ESRB continues to monitor risks to the EU financial system.

Key highlights from the introductory statement of Mario Draghi, Chair of the European Systematic Risk Board (ESRB), Brussels, 20 November 2017.

Currently, the ESRB is conducting a risk analysis of EU commercial real estate markets.

The analysis confirms that significant data gaps exist for the sector, hampering macroprudential monitoring. 

The ESRB continues to monitor risks to the EU financial system.

Creating a harmonised recovery and resolution framework for the insurance sector across the EU is also important. 

The ESRB is also focusing on analysing and monitoring the EU derivatives markets.

Key notes

ECB policy remains appropriate, economy growing - ANZ.

Analysts at ANZ explained that, last week, the ECB President Draghi reiterated the positive outlook for the euro area economy citing deleveraging, increasingly endogenous growth and signs that the economy is becoming more resilient to shocks, as positive factors for the outlook.

ECB Minutes to be of significant importance this week - BBH.

The ECB's meeting's October 26 meeting was more significant and the release of its minutes will be keenly watched by investors, according to analysts at BBH.  

About Mario Draghi

The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).