In July 2026, the ECB Governing Council announced key decisions including publication of the 2026 Convergence Report, updates on market operations, collateral framework, digital euro progress, macroprudential policies, and supervisory measures.
On 24 June 2026, the ECB published its 2026 Convergence Report assessing progress towards euro adoption in the Czech Republic, Hungary, Poland, Romania, and Sweden. This report follows the adoption by the ECB’s General Council and is published alongside the European Commission’s report and a press release.
On 18 June 2026, the Governing Council approved the publication of the 2025 Bank Treasurer Survey Report, which gathered responses from 184 banks representing approximately 72% of euro area banking assets. The survey provides insights into banks’ liquidity management and reserve demand.
On 24 June 2026, the Council decided on the eligibility criteria for integrating portfolios of non-financial corporate loans into the Eurosystem collateral framework, marking the final step in phasing out temporary collateral measures. Implementation is planned for November 2027.
On 30 June 2026, the ECB published the indicative operational calendars for 2027 and 2028, detailing tender operations and reserve maintenance periods.
On 9 July 2026, the Council decided to reclassify the financial subsidiaries of non-financial companies within the Eurosystem collateral framework, aligning their haircut treatment with that of their parent companies, effective from November 2026.
On 15 July 2026, the Governing Council approved operational parameters for the enhanced Eurosystem repo facility for central banks (EUREP) and confirmed onboarding of foreign central banks as providers. A related press release is available on the ECB’s website.
On 22 July 2026, the Council extended the use of climate factors to non-financial corporate credit claims in the Eurosystem collateral framework to strengthen risk management related to climate transition.
Regarding macroprudential policy, on 8 July 2026, the ECB issued a statement emphasizing the need for continued resilience and monitoring of risks in the euro area financial system amid geopolitical tensions.
On 10 July 2026, the Governing Council approved the publication of the 2025 TARGET2-Securities (T2S) financial statements and noted the external audit opinion.
On 22 July 2026, the Council acknowledged progress on the digital euro project, including the selection of 36 payment service providers for the pilot phase, with further details available on the ECB’s website.
Several opinions were adopted upon requests from member states, including on foreclosure stays, systemic stability, supervisory independence, resolution authority designation, and cash payment limits, between June and July 2026.
In corporate governance, Livio Stracca was appointed as a new member of the €STR Oversight Committee effective 1 July 2026. The Committee reviews the €STR determination process.
On 25 June 2026, the ECB adopted amendments to the Guideline on the Register of Institutions and Affiliates Data, mainly technical updates.
Regarding banknotes, the ECB announced the outcome of the design contest for future euro banknotes and launched a public survey open until 21 September 2026 to gather public opinions on the designs.
In banking supervision, the ECB disclosed the results of asset quality reviews for KfW Beteiligungsholding GmbH and Promontoria 19 Coöperatie U.A., and approved the publication of revised guides on internal capital adequacy and licensing assessments. An administrative penalty of €3,255,000 was imposed on Banque Internationale à Luxembourg for model violations.
All decisions and updates are detailed in the official ECB press release available on their website.
