Bundesbank Executive Board member Andreas Dombret has warned financial institutions against underestimating climate risks. The financial sector is being increasingly affected by the rising costs resulting from extreme weather events, as well as by far-reaching changes in climate policy, he said in a speech in Singapore.
The upswing in the global economy is gaining momentum, believes Bundesbank Executive Board member Andreas Dombret. In the run-up to the Annual Meeting of the International Monetary Fund, he argued for taking advantage of favourable economic conditions to increase the growth potential of national economies through structural reforms.
German external assets grew by a net €231 billion in 2016, closing the year at €1,709 billion. This increase was chiefly attributable to net capital exports, which were primarily a reflection of last year’s current account surplus.
Bundesbank President Jens Weidmann has been appointed to sit on an international board for the promotion of financial literacy among young people in Europe.
The final wave of migration to the European securities settlement platform TARGET2-Securities (T2S) has been successfully completed. Nearly all European securities settlements are now being conducted through T2S.
Further articles on international topics can be found in our archive.
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