August 05
2020
Dolores Utrilla
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13th February 2020
Banking & Finance Internal Market

European Parliament passes resolution on ECB policies

Following Tuesday’s debate with the European Central Bank’s (ECB) President Christine Lagarde, the European Parliament approved a resolution yesterday on the ECB’s Annual Report for 2018. The resolution, adopted by 452 votes in favour, 142 against, and 33 abstentions, sets out the Parliament’s priorities on ECB future policies.

The resolution expresses concerns about the slowing EU economy and asks the ECB to encourage growth by maintaining appropriate liquidity conditions. It also calls for the ECB to keep monitoring potential risks to its balance sheets, asset price inflation, potential misallocation of resources and disadvantages to savers.

Moreover, the European Parliament’s resolution calls on the ECB to better integrate environmental, social and governance principles into its policies, as well as to redesign its corporate sector purchase programme to better support environmentally sustainable initiatives.

Finally, it invites the ECB to monitor crypto-assets more closely and to create a system to better monitor large transactions in order to fight financial crimes.

Read the European Parliament’s resolution here.

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