Changes from report parliamentary committee draft to plenary report

Added43. Notes the ECB’s support for the establishment of a fully fledged European deposit insurance scheme; acknowledges that risk-sharing and risk-reduction are interlinked;

Removed32. Welcomes the finalisation of the Basel III framework, as it will strengthen the resilience of the banking sector;

Added44. Welcomes the attention that the ECB pays to the risks of cyberattacks; calls on the ECB to ensure the safety and security of the monetary system for its users, especially in the light of ongoing geopolitical developments;

Added45. Considers that financial stability is a prerequisite for effective monetary policy and a resilient financial system; welcomes the finalisation of the Basel III framework and its implementation from 1 January 2025, as it has the potential to strengthen the resilience of the banking sector in this regard; notes, however, the delays in implementation and lack of clarity with regard to implementation by a certain number of other jurisdictions, resulting in an uneven level playing field at the global level;

Added46. Acknowledges the ECB’s concern regarding the rise of the shadow banking sector and the risk it may pose to financial stability;

Added47. Encourages collaboration with the Member States and national central banks on financial literacy programmes to empower individuals and businesses to make informed financial decisions;

Added48. Regrets that only two members of the ECB’s Executive Board and Governing Council are women; reiterates that the nominations to the Executive Board should be gender-balanced, with shortlists submitted to Parliament; urges the euro area Member States to improve the principles of gender equality in their appointment procedures, so that both genders have equal opportunities to serve as governors of their respective national central banks;

Added49. Reiterates that ECB appointments should be based on objective merit and competence assessment processes;

50. Supports the aim of the ECB to increase female representation by encouraging women to advance in this field; therefore welcomes initiatives such as the ECB Women in Economics Scholarship;

Change 22

Added51. Highlights that the latest Financial Stability Review released by the ECB in November 2024 raises concerns over the possibility of an AI-related asset price bubble given the concentration among a few large AI beneficiary firms;

Added52. Calls for the further enhancement of the ECB’s internal whistleblowing framework to bring it into line with the EU Whistleblower Directive;

Added53. Invites the ESCB to continue and strengthen its dialogues with national parliaments, which it believes would strengthen the legitimacy and policies of the ESCB;

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54. Instructs its President to forward this resolution to the Council, the Commission and the European Central Bank.