Peter Praet joined the European Central Bank as Member of the Executive Board in 2011. He is responsible for the Directorate General Economics.
Mr Praet gained a PhD. in economics from the Université libre de Bruxelles in 1980. He was an Economist at the International Monetary Fund from 1978 to 1980, Professor of Economics at the Université libre de Bruxelles from 1980 to 1987, Chief Economist of Générale de Banque and Fortis Bank from 1988 to 1999 and Chef de cabinet for the Belgian Minister of Finance from 1999 to 2000. Before joining the ECB, he was Executive Director of the Nationale Bank van België/Banque Nationale de Belgique from 2000 to 2011. Here, he was responsible for International Cooperation, Financial Stability and Oversight of Financial Infrastructures and Payments Systems. Between 2002 and 2011 he was also a member of the Management Committee of the Belgian Banking, Financial and Insurance Commission, where he was responsible for prudential policy for banking and insurance.
Mr Praet has served on several high-level international bodies, including the Basel Committee on Banking Supervision, the Committee on Payment and Settlement Systems, the Committee on the Global Financial System and the European Banking Authority. He was First Alternate of the Board of Directors of the Bank for International Settlements from 2000 to 2011.
How does the ECB's reliance on external credit assessments affect bond yields, government vulnerability, and potential sovereign debt crises?
The Commission’s Crisis Management and Deposit Insurance proposal has the potential to significantly improve banking resolution in the EU
The collapse of several US regional institutions and of Crédit Suisse has increased the urgency for crisis management reform in the EU.
In the EU, there is no bank like SVB and supervision appears better than in the US, but the resolution framework remains incomplete.