Vienna Initiative 2.0


 Mission Statement

The financial crisis has brought conflicts of interest between the banking sector’s home and host countries sharply into focus. Countries where foreign banks’ subsidiaries or branches are systemic face particular challenges in safeguarding financial stability and ensuring adequate credit supply for their economies. The countries of Central, Eastern and Southeastern Europe (CESEE) are important hosts to foreign banks headquartered predominantly in Western Europe. The ongoing eurozone crisis has highlighted the risk of disorderly deleveraging of western parent banks vis-à-vis their affiliates in CESEE and difficulties in cooperation between home and host country authorities.

Against this background, it is the objective of the Vienna Initiative 2 to help:

  • Avoid disorderly deleveraging.
  • Ensure that potential cross-border financial stability issues are resolved
  • Achieve policy actions, notably in the supervisory area, that are taken in the best joint interest of home and host countries.

Vienna Initiative 2 Banking Union Working Group ? Workshop - EBRD HQThe Vienna Initiative 2 builds on the success of the Vienna Initiative 1, which was established at the height of the global financial crisis of 2008/09. It again uses a private-public sector platform, which brings together key International Financial Institutions, the European Commission and relevant EU institutions, the principal cross-border banking groups, and home and host country authorities, complementing other initiatives. Its geographical coverage extends beyond the European Union (EU) and also includes other CESEE counties with a substantial presence of western banks—instances where cross-border arrangements are naturally much less developed than inside the EU.

The work within the Vienna Initiative 2 aims for practical results by monitoring of, and reporting on, the deleveraging process and by setting up temporary structures where private and public sector decision makers meet to exchange experience and discuss appropriate actions.








Full Mission Statement

Topics and instruments

Under the Vienna Initiative 2.0, the Steering Committee has identified the following streams as the focus of on-going work to continue to make the financial sectors in emerging Europe more resilient in the longer term:

A Host Country Cross-Border Forum for Croatia was held in Zagreb, 29 October 2012.

Opening Remarks, Host Country Cross-Border Stability Forum, 29 October 2012.

  • Bank Lending Surveys

CESEE Bank Lending Survey H2, 2013

CESEE Bank Lending Survey H1, 2014

CESEE Bank Lending Survey H2, 2014

CESEE Bank Lending Survey H1, 2017

CESEE Bank Lending Survey H2, 2017

Presentations and Events

EventsFull Forum 01

Debt Restructuring and NPL Resolution Workshop in Hungary Workshop, Budapest, 3 March 2015

Ukraine Financial Forum, Brussels, 14 November 2014
Opening Address by EU Commissioner Johannes Hahn

Vienna Initiative Full Forum Meeting, Brussels, 13 November 2014
Priorities for the Vienna Initiative in 2015 by Governor Marek Belka, Chairman of the Vienna Initiative Steering Committee

Debt Restructuring and NPL Resolution
Vienna Initiative Workshop, Vienna, 23 September, 2014
List of Participants

Vienna Initiative Full Forum, Brussels, October 21-22, 2013
List of Participants

Vienna Initiative Full Forum Meeting, Brussels, 9 November 2012
Keynote Speech by Marek Belka, Chairman of the Vienna Initiative Steering Committee

Vienna 2.0 Highlevel Workshop, London, 12 September 2012
List of participants

Vienna Initiative Full Forum Meeting, Brussels, 12 March 2012
Elaboration of Vienna 2.0
Basel III Implementation

Meeting of Vienna Initiative, Vienna, 16 January 2012
From Vienna 1.0 to Vienna 2.0
Deleveraging Outlook and Structural Change in Banking Systems




Vienna Initiative Full Forum, 13 November 2014

Debt Restructuring and NPL Resolution Workshop, 23 September 2014


For additional information on events and presentations from past events, please enter the password.

Vienna Initiative Full Forum 9 November, 2012 Presentations

Press releases

Banks Deleveraging in Emergin Europe Slightly Faster in the Third Quarter of 2014 (28 January 2015)

Banks firmly behind Ukraine financial sector reform programme at Vienna Initiative forum (17 November 2014)

Credit Recovery and Banking Union in focus at Vienna Initiative 2 Full Forum (14 November 2014)

Bank Deleveraging in Eastern Europe Slows Slightly in Second Quarter of 2014 (4 November 2014)

Vienna Initiative pushes for action plan to deal with NPLs in central and south-eastern Europe (26 September 2014)

Vienna 2 Initiative draws attention to weak credit growth and special challenges for South Eastern Europe (23 October 2013)

Focus on reviving credit growth as external funding withdrawal in emerging Europe picks up (30 July 2013)

Deleveraging abating in emerging Europe amid regulatory and structural shifts (2 May 2013)

Vienna 2 Initiative Steering Committee Discusses Deleveraging, Asset Quality and Implications of Banking Union Plans  (24 January 2013)

The Steering Committee of Vienna 2 delivers observations on cross-border bank resolution to European authorities (18 January 2013)

Vienna 2 Full Forum Focuses on Deleveraging and Bank Resolution (12 November 2012)

Vienna 2 proposes enhancements in cross-border supervision to European authorities (26 October 2012)

Vienna 2.0 Initiative Holds Workshop on Cross-Border Bank Supervision and Resolution in Emerging Europe (13 September 2012)

Vienna Initiative Adopts Mission Statement, sets its Objectives (20 July 2012)

Vienna Initiative Welcomes NBP Governor Marek Belka’s Chairmanship of its Steering Committee (20 June 2012)

Full Forum Meeting of the European Bank Coordination Vienna 2.0 Initative (13 March 2012)

Special Meeting of the European Bank Coordination “Vienna” Initiative (16 January 2012)

Press releases and related press coverage
Public-private forum boosts coordination to support financial sector stability in emerging Europe

The General Board of the European Systemic Risk Board (ESRB) held its fifth regular meeting today

Officials Unite Again to Protect Eastern Europe’s Banks