The scale of European Central Bank support for banks is still not being reflected in their lending to the real economy, MEPs are set to say in a debate with ECB President Mario Draghi on Monday evening. Cyber threats and the consequences of Brexit are also likely to be raised.
MEPs are set to voice concerns about how prolonging the ECB’s post-crisis bank asset purchase programme could affect individual savers and the financial equilibrium of pension and insurance schemes. They call on the ECB to assess the benefits and side effects of its policy and communicate it clearly to the financial markets.
They will also ask the ECB to continue reporting on cyber threats to the financial sector and to adopt a clear and public policy on whistle blowing.
Parliament is likely to call for a more comprehensive policy on non-performing loans and for the EU banking union to be completed, so as to ensure that savers’ deposits are safe. It is also likely to urge the ECB to assess all the consequences of the UK’s withdrawal from the EU and prepare the EU’s post-Brexit financial architecture in good time.
Procedure code: 2017/2124(INI)
Debate: Monday, 5 February
Vote: Tuesday, 6 February
Procedure: Non-legislative resolution