EBF MORNING BRIEF Monday 19 February 2024 Good morning. Here are the top news stories and events in European banking, financial regulation and EU policy, brought to you by the European Banking Federation.
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FROM THE MEDIA
Bloomberg: Schnabel: ECB must be careful not to cut rates too soon
European Central Bank (ECB) Executive Board member Isabel Schnabel warned again against lowering interest rates too early for fear that inflation will rebound. “The recent long period of high inflation suggests that, to avoid being forced into adopting a stop-and-go policy akin to that of the 1970s, we must be cautious not to adjust our policy stance prematurely,” she said on Friday as quoted by Bloomberg. Read more
The Banker: UK banks reveal state of readiness for ‘Basel 3.1’
Changes in Basel 3.1, as it is known in the UK, represent complex regulatory challenges for banks, but most seem to have started work on it well ahead of the July 2025 implementation date, The Banker reports. According to a survey published by Grant Thornton this month, 60.6 per cent of British lenders have begun working on impact assessments and planning. Read more
Reuters: Droughts and heatwaves could dent Spanish banks' capital
Severe droughts and heatwaves in Spain could have a persisting impact on the domestic lenders' solvency by slowing down the economy and leading to more loan losses, says Pablo Hernandez de Cos, Governor of the Bank of Spain, according to Reuters. Read more |
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FROM EBF MEMBERS
LBA: Will interest rates now be cut?
The sharp drop in inflation is surprising. The question is when the Swiss National Bank will lower interest rates. The Liechtenstein Bankers Association (LBA) has not yet ventured a prediction, as Director Simon Tribelhorn explains. Read more (DE)
Finance Finland: Financial sector’s concrete actions in the green transition
This article is part of a series illustrating the concrete actions of Finance Finland's member organisations to promote the green transition. It reports on the pension insurance provider and major investor in rental properties Varma, which has made significant investments to reduce the carbon emissions of its residential and office buildings. Read more
Finance Latvia: Fraudsters started to use WhatsApp more actively
At the beginning of 2024, financial fraudsters are actively using the WhatsApp communication app to hunt their victims, and also involve couriers in the latest fraud schemes, Finance Latvia reports. Read more (LAT) |
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FROM THE INSTITUTIONS
ECB: Climate transition risk in the banking sector
Climate-related risks are due to increase in coming years and can pose serious threats to financial stability. This European Central Bank (ECB) paper, by means of a DSGE model including heterogeneous firms and banks, financial frictions and prudential regulation, shows the need of climate-related capital requirements in the prudential framework. Read more
BIS: Stability and prosperity in Europe
"Stability is the core competence and mandate of the Eurosystem, and thus also of the Bundesbank: stability of prices, of credit institutions, of the financial system and of payments. That is our contribution to safeguarding prosperity and economic security in Europe" says Joachim Nagel, President of the Deutsche Bundesbank, as the Bank for International Settlements (BIS) reports. Read more
Council: Provisional deal with Parliament on crisis preparedness
The Council and the European Parliament reached a provisional agreement on the regulation for a single market emergency instrument (SMEI), which after the agreement will be renamed Internal Market Emergency and Resilience Act (IMERA). Read more |
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FROM THE EBF
EBF: European business calls for deepening the EU Single Market and renewing the dynamic of European integration
In a Joint Statement, this coalition of European associations underlines the need for renewed focus on deepening the Single Market. The statement puts forward clear logic for fresh political investment in the Single Market and its relevance for citizens, companies, and the future of the EU. Read more
EBF: Response to Call for Evidence on the Report on the GDPR (Art. 97)
This response complements the questionnaire response provided to the European Commission Multi-Stakeholder Expert Group of which the European Banking Federation is a member of. The introduction of the GDPR resulted in a significant increase in the attention to and the application of data protection rules. Read more
EBF: EFRAG ESRS Implementation Guidance consultation
The European Banking Federation (EBF) welcomes EFRAG’s development of the ESRS implementation guidance considering the significant complexity of the standards and the importance of ensuring the preparation of comparable and qualitative disclosures. The future and timely elaboration of specific guidance for financial institutions would be equally important and necessary given the role they have in financing the economy. Read more
New EBF Vacancies! Work with us!
Visit our Vacancies page to learn more about the opening positions at the EBF. Read more |
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ABOUT THE EUROPEAN BANKING FEDERATION
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe. The federation is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere. Website: www.ebf.eu |
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