Politics
Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
February 2025
21 February 2025
Market operations
Extension of liquidity lines until January 2027
On 23 January 2025 the Governing Council approved the extension of the ECB repo lines with eight non-euro area central banks (Magyar Nemzeti Bank, Banca Națională a României, Bank of Albania, Andorran Financial Authority, National Bank of the Republic of North Macedonia, Central Bank of the Republic of San Marino, Central Bank of Montenegro and Central Bank of the Republic of Kosovo) until 31 January 2027. The decision was taken pursuant to the new framework for euro liquidity lines, which was adopted in 2023.
Eurosystem climate stress test report
On 13 February 2025 the Governing Council took note of the main findings of the 2024 climate stress test on the Eurosystem’s balance sheet, which will feed into the Eurosystem’s climate-related financial disclosures.
Market infrastructure and payments
Inclusion of provisions on the TARGET Analytical Environment in the T2 Currency Participation Agreement
On 13 February 2025 the Governing Council approved the amendments to the agreement on the use of T2 services (T2 Currency Participation Agreement) to include the TARGET Analytical Environment as a standard feature offered to both current and future signatories of the T2 Currency Participation Agreement.
Advice on legislation
ECB Opinion on flood insurance
On 4 February 2025 the Governing Council adopted Opinion CON/2025/3 at the request of the Chair of the Oireachtas (Irish National Parliament) Joint Committee on Finance, Public Expenditure and Reform and Taoiseach (Irish Prime Minister).
ECB Opinion on indirect participants in, and access to, payment systems, and a new exemption from the cash rule
On 5 February 2025 the Governing Council adopted Opinion CON/2025/4 at the request of the Danish Financial Supervisory Authority.
Corporate governance
ECB’s Annual Accounts for 2024
On 19 February 2025 the Governing Council approved the audited financial statements of the ECB for the financial year 2024. The annual accounts, together with a press release, are available on the ECB’s website.
ECB Recommendation on the external auditors of the European Central Bank for the financial years 2025 to 2029
On 12 February 2025 the Governing Council adopted Recommendation ECB/2025/6 to the Council of the European Union on the external auditors of the European Central Bank.
Statistics
Extension of the Integrated Reporting Framework and the Common Data Management investigation phases
On 17 February 2025 the Governing Council approved the revised Quality Review Gate 1 documentation (including the Financial Envelopes and Project Charters), extending until the end of September 2025 the investigation phases of the ESCB and SSM Common Data Management and the ESCB Integrated Reporting Framework projects.
Banknotes and coins
Composition of the design contest jury for the new euro banknotes
On 6 February 2025 the Governing Council took note of the composition of the design contest jury for the new euro banknotes. The jury will prepare a shortlist of designs to support the selection of the final design of the future euro banknotes by the Governing Council and is scheduled to start work in early 2025.
ECB Banking Supervision
Update of the 2025 Supervisory Examination Programme (SEP) for on-site inspections and internal model investigations at significant institutions
On 30 January 2025 the Governing Council did not object to a proposal by the Supervisory Board for an update of the 2025 SEP for on-site inspections and internal model investigations at significant institutions and outsourcing service providers. The on-site SEP is based on SSM supervisory priorities for 2025-2027 published on the ECB’s banking supervision website.
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European Immunization Week is an initiative led by the World Health Organization (WHO) to raise awareness about the vital role immunisation plays to prevent diseases and protect life. This year’s EIW runs from 27 April to 3 May.
Vaccination is not only an act of self-protection but also one of solidarity, and one which offers both immediate and long-term benefits, even if they might not be visible directly: vaccines protect individuals from potentially serious diseases and in the long run also protect others by reducing spread of infections. That way, vaccination is not only an act of self-protection but also one of solidarity. Without widespread vaccination, many diseases that are now rare thanks to vaccines, could return.
Successful vaccination programmes are built on understanding and responding to people’s beliefs, concerns, and expectations, and large parts of the population in European Union and European Economic Area (EU/EEA) countries follow the national vaccine recommendations in their countries.
However, in 2023 and 2024, case reports of diseases such as measles and pertussis surged following a period of low transmission during the COVID-19 pandemic. Routine childhood vaccination coverage, particularly for measles, remains below the recommended threshold in several countries.
In this context, social and behavioural science approaches can help identify and address barriers to vaccination and improve uptake in populations with lower coverage rates through tailored interventions.
Join our digital event bridging epidemiology and social sciences to identify, understand and find joint solutions to address barriers against vaccination, close immunity gaps and improve vaccination coverage across the EU/EEA.
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Strengthening global health security and responding to emerging health challenges requires strong partnerships and the continuous exchange of expertise among public health institutions.
The visit took place at the newly inaugurated WHO Academy in Lyon – a modern facility dedicated to public health training and capacity building. The Academy works to integrate learning needs on current and emerging public health priorities at the global, regional, national, and community levels. The event was hosted by Melinda Frost, Learning Design and Production Unit Head, WHO Academy and Andros Theo, Biomanufacturing Learning Specialist, WHO Academy.
The learning exchange aimed to foster meaningful collaboration among the participating institutions. A primary goal was to advance the co-creation of a joint learning project that leverages the strengths and expertise of each organisation.
Additionally, the exchange sought to facilitate the sharing and comparison of approaches to training development and delivery, enabling a deeper understanding of best practices across the three institutions.
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The European Institute of Innovation and Technology (EIT) Community can now engage in a new matchmaking platform designed to foster cross-sector innovation. InnoNext, a collaborative initiative powered by the European Innovation Council (EIC), opens fresh opportunities for EIT Community members to participate in fully funded Innovation Internships across Europe.
Through this platform, graduates from EIT Label programmes and EIT-supported startups can access tailored placements that connect academic talent with business needs. The goal: to strengthen innovation, accelerate scale-ups and bridge research with industry.
What Is InnoNext?
InnoNext is a pan-European initiative offering Innovation Internships to high-potential talent from across EU-funded programmes, including the EIC, EIT, European Research Council (ERC), Marie Skłodowska-Curie Actions (MSCA) and Horizon Europe Research Infrastructures.
By aligning entrepreneurial ambition with academic expertise, the programme supports research commercialisation, fosters business growth and enhances the societal impact of European innovation.
Who Can Take part?
Talents
- students or graduates from EIT Label Master’s or Doctoral programmes
- EIT Alumni members
- researchers from other postdoctoral training programmes funded by the EIT Community
Startups and SMEs
- startups and SMEs supported by the EIT Community and its business creation services
- businesses founded with support from Knowledge and Innovation Communities (KICs)
- companies that have partnered with KICs for innovation activities
- startups or scale-ups with at least one co-founder who is an EIT Alumni member
How it Enhances Impact
For talents, InnoNext offers the opportunity to apply academic knowledge to real-world business challenges, while gaining valuable entrepreneurial and professional experience. Participants can build strong networks within Europe’s innovation ecosystem and receive financial support for a fully funded internship lasting three to six months.
For startups and SMEs, the programme offers access to highly specialised research talent, enabling them to host internships without financial burden. Through the InnoNext platform’s AI-driven matching system, companies can find candidates aligned with their innovation needs and benefit from fresh insights to support product development and scale-up efforts.
This initiative echoes the EIT’s broader mission and achievements in nurturing innovation — having supported over 9 900 ventures, launched 2 450+ new products and trained more than 880 000 individuals in critical innovation and entrepreneurial skills.
By connecting academic and entrepreneurial minds across several of Europe’s pioneering agencies, InnoNext represents a collaborative step forward in the EU’s long-term strategy to boost innovation, competitiveness and sustainable growth.
Check your eligibility and register
For more information, contact the team at [email protected].
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