claudia buch : introductory statement - public hearing at the european parliament concerning the position of chair of the supervisory board of the european central bank introductory statement by prof claudia buch, vice - president of the deutsche bundesbank, at the public hearing at the european parliament concerning the position of chair of the supervisory board of the european central bank, brussels, 20 september 2023. * * * check against delivery. dear madam chair, honourable members of the european parliament, it is a great honour and privilege to appear before you today. i would like to share my vision for the ssm, following my nomination by the ecb as chair of the supervisory board. the european parliament is a crucial ally for supervisors. the ssm ensures the safety and level treatment of all banks in the banking union – in the interest of european citizens. you provide the framework for the banking union and its single rulebook. and you hold ecb banking supervision to account – for me, this is key to ensuring the democratic legitimacy of supervision. as chair, i would be strongly committed to continuing the close cooperation with the parliament. i would be devoted to serving the european public good by taking direct responsibility for europe, and being a strong voice for completing the banking union. i would bring with me to the role a broad range of international experience in micro - and macroprudential oversight. as vice - president of the bundesbank, i am responsible for banking supervision and financial stability. i am a member of the ecb's supervisory board and serve as the bundesbank's g7 and g20 deputy. i can therefore contribute a comprehensive micro - and macro - level perspective. and i will continue to work with all my strength on the european project. the ssm has been very successful during its first decade, and it is well equipped to deal with upcoming challenges. it has made european banks safer and stronger. this is essential for sustainable growth. the ssm has built a culture of joint supervision across europe, and i can testify to the excellence of its staff. this is a strong foundation. 1 / 3 bis - central bankers'speeches i see three priorities for the future work of the ssm : adapting supervision to the new, more unpredictable environment ; strengthening supervision by making it even more proactive ; and continuing the good cooperation with all stakeholders. let me explain. * * * my first priority as chair would be to adapt the ssm to the changing environment. as supervisors, we need a

on resolution and deposit insurance are needed. while these will require political decisions, we will contribute with our perspective and expertise. effective resolution and supervision in fact reinforce each other. i would thus continue to cooperate closely with the single resolution board ( srb ). finally, effective international cooperation is essential, as our banks operate in markets that are not under the supervision of the ssm. * * * to summarise : it would be a great honour to lead the ssm into its next decade. i would build on its strong foundation, ensuring that our banking sector remains strong, resilient and at the service of european citizens. i look forward to your questions. 3 / 3 bis - central bankers'speeches