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Non-performing loans have several negative effects on banks’ balance sheet. Banks consider a loan as “non-performing” when a borrower fails to honour the scheduled payments of principal or interest for a specified period. In the euro area, NPLs peaked in 2014 (8% of all loans) when severe economic downturns brought on by the global financial crisis and the European sovereign debt crisis spiked unemployment rates and stifled borrowers’ repayment capacity.
Remarks by ESM Managing Director Pierre Gramegna
Press conference following Eurogroup meeting
Brussels, 17 February 2025
(Luxembourg) - The European Stability Mechanism (ESM) raised €2 billion with a new 10-year bond on Monday.
The 2.75% 26 February 2035 maturity bond achieved a strong order book in excess of €8.5 billion, excluding joint lead manager interest. The spread was fixed at mid-swaps plus 42 basis points, for a re-offer yield of 2.859%.
(Luxembourg) - The European Stability Mechanism (ESM) raised €2 billion with a new 10-year bond on Monday.
The 2.75% 26 February 2035 maturity bond achieved a strong order book in excess of €8.5 billion, excluding joint lead manager interest. The spread was fixed at mid-swaps plus 42 basis points, for a re-offer yield of 2.859%.
Carolina Orgaz is a Funding Senior Officer in Investor Relations at the European Stability Mechanism (ESM). She joined the ESM in 2014. Before joining the Investor Relations team in 2020, Ms Orgaz was working as Senior Back Office Officer.
Prior to the ESM, Ms Orgaz worked at Deloitte Luxembourg, where she was specialised in tax reclaims and regulatory reporting for investment funds. Her experience also includes roles in investment funds, corporate actions, and business development at financial institutions in Luxembourg and France.
Sarah Fouqueray-Carrick, ESM Investor Relations Team Lead and Carolina Orgaz, ESM Senior Investor Relations Officer
“The strategic importance of investor relations Transparency, trust, and innovation as pillars of engagement with investors”
Article published in CMD Portal
Title: Asset-Quality-at-Risk
Summary: The paper introduces a novel approach to predicting future asset quality deterioration in euro area banks: "asset-quality-at-risk"
Authors: Alessandra Donini, Giulia Fusi, Mattia Picarelli (all ESM)
The European Stability Mechanism (ESM) will launch 6-months Bills of the European Stability Mechanism (ESM) by auction. An issue volume up to EUR 1.1 billion is envisaged.
Time schedule of the auction procedure:
Date of invitation to bid: Monday, 17 February 2025
Bidding period: Tuesday, 18 February 2025, from 8:00 a.m. until 12:30 p.m. CET
Value date: Thursday, 20 February 2025