The Austrian National Bank published highlights from its one-day Conference on European Economic Integration (CEEI 2025) in Vienna, which examined how Central, Eastern and South-Eastern European (CESEE) financial systems can diversify funding beyond bank lending to support growth, innovation and convergence in CESEE and the European Union. The core message from OeNB Governor Martin Kocher was that deep and liquid capital markets and broader market participation can benefit households and the wider economy, including by strengthening corporate access to finance and gaining importance for monetary policy. Discussions converged on the need for stronger capital-market infrastructure and “bold regulatory reforms”, alongside measures to encourage investors to fund CESEE start-ups and to motivate households to invest more in local capital markets. Approaches discussed included an EU-wide Savings and Investment Union, regional harmonisation initiatives and national strategies to deepen capital markets, with a panel of CESEE central bank representatives also addressing cross-border initiatives, fintech innovation, central bank roles and implications for financial stability; keynote speakers included Nicolas Véron and Manju Puri.
Austrian National Bank (OeNB) 2025-11-21
Austrian National Bank convenes CEEI 2025 to explore non-bank capital sources and deeper capital markets for CESEE
The Austrian National Bank's Conference on European Economic Integration stressed the need for CESEE financial systems to diversify funding beyond bank lending. OeNB Governor Martin Kocher highlighted the benefits of deep capital markets and broader participation for households and the economy. Discussions focused on enhancing capital-market infrastructure, regulatory reforms, and initiatives like an EU-wide Savings and Investment Union to strengthen corporate finance access and monetary policy.