EBF MORNING BRIEF Monday 2 September 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
Reuters: ECB's Schnabel keeps door open to further rate cuts
Eurozone inflation is falling as predicted, easing the risk that further rate cuts would derail disinflation, but the European Central Bank (ECB) must become increasingly cautious as rates go lower, ECB board member Isabel Schnabel said to Reuters. Read more Bloomberg: Europe’s banks set to make record €50 billion in payouts Europe’s biggest lenders are on track to return just over €50 billion to shareholders for the first time ever, highlighting just how big of a boost they’ve gotten from higher interest rates. Ten of the euro area’s top lenders are likely to hit €50.02 billion in combined payouts this year once planned interim dividends have been disbursed in coming months, according to calculations by Bloomberg based on company filings. Read more FT: Eurozone inflation falls to 2.2% in August Eurozone inflation fell sharply to a three-year low of 2.2 per cent in August, bolstering expectations that the European Central Bank (ECB) will reduce interest rates next month, the Financial Times (FT) reports. Read more |
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MAIN EVENTS ECON Commission Foreign Investment Hybrid Stakeholder Consultations Council Working Party on the Environment |
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FROM EBF MEMBERS
CBA: The economy grew by 0.6 percent year-on-year in the Q2
In the second quarter of this year, according to the revised estimate published by the Czech Statistical Office and reported by the Czech Banking Association (CBA), the domestic economy grew by 0.3% quarter-on-quarter, in line with the preliminary estimate, and the year-on-year growth accelerated from 0.4 to 0.6%. Read more (CZ)
Finance Norway: Insurance and Pensions
Finance Norway believes that the pension providers must be given a more general legal authority. It will contribute to increased efficiency for municipalities and pension providers, and the employees will receive more accurate pension savings. Read more (NO)
Finance Latvia: Why is the investment goal important?
According to the banking expert Elza Rudzīte, about one in five invest money without setting any specific investment goal. It is like traveling without direction. Because it is the goal that gives the investor's personal financial strategy direction, an idea of ​​how long to invest and, most importantly, the discipline to stick to the plan. Read more (LV) |
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FROM THE INSTITUTIONS
ECB: The use of the Eurosystem’s monetary policy instruments
The Eurosystem implements its monetary policy through a set of monetary policy instruments. The period covered by this report (2022-23) was dominated by high inflation, which led to a change from an easing to a tightening monetary policy environment in line with the mandate of the European Central Bank (ECB) to pursue price stability. Read more
BIS: House prices almost stabilised
The Bank for International Settlement (BIS) has released the residential property price statistics for Q1 2024. In this period, the fall in global house prices moderated further as prices already increased in many economies. Read more ESRB: ASC publishes report on banks’ vulnerability to deposit runs The banking crisis in March 2023 led to the failure of several mid-sized US banks and also of Credit Suisse. Since that crisis the Advisory Scientific Committee (ASC) of the European Systemic Risk Board (ESRB) has been reflecting on the vulnerability of banks to deposit runs and possible policies to address it. Read more |
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FROM THE EBF
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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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This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact r.hrelja@ebf.eu European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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