EBF MORNING BRIEF Monday 4 September 2023 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
EURACTIV: Panetta: CMU might require EU fiscal capacity
The outgoing member of the executive board of the European Central Bank (ECB) Fabio Panetta, argued that a genuine Capital Markets Union (CMU) would require the availability of a permanent European safe asset, which would, in turn, need the EU to have a standing fiscal capacity with a borrowing function. In Panetta’s opinion, there are two blind spots in the development of a genuine CMU: the lack of a complete banking union and the lack of a permanent European safe asset, EURACTIV reports. Read more
Bloomberg: ECB questions power of yield curve inversion
The European Central Bank (ECB) cautioned against reading too much into a bond-market metric often regarded as a harbinger of recession. The predictive power of an inverted yield curve has been reduced in recent years by central bank bond buying, the ECB said as heard by Bloomberg. Read more CoinDesk: Controversial Digital Euro plan to be led by architect of landmark MiCA crypto law German lawmaker Stefan Berger will take the lead in new legislation to underpin a digital euro, the member of the European Parliament said. As reported by CoinDesk, Berger has usually been seen as pro-crypto, opposing a plan to limit energy use by proof-of-work technology that some saw as a ban on Bitcoin. Read more |
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REGISTRATION OPEN! Testing times: What do Europe’s bank stress tests tell us about financial stability, and how might they change in the future? |
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Join our panel of experts as we discuss the key takeaways from the first post-COVID stress test. How does the methodology stack up against that of previous tests, how might it change in the future and how useful are the results? In this webinar we'll also look at how the EU stress test compares to tests in the US and UK, and what the results mean for the stability of the EU’s banking sector at a critical time for the global economy. |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
BdB: Herkenhoff: Europe is a continent of opportunities
"Europe is a continent of opportunities. We want to support Europe to the best of our ability," said Heiner Herkenhoff, Chief Executive of the Association of German Banks (BdB). With a view to the European elections in June 2024, he stressed the importance of joint EU action and called for more efforts to strengthen European capital markets. Read more (DE)
Finance Finland: Annual report of lobbying activities
Finance Finland is committed to transparent lobbying. They therefore annually publish a report of their lobbying activities, disclosing the political decision-makers and topics they have lobbied. Read more
Febelfin: Banks make every effort to help customers
Since August 24, consumers can subscribe to a government-issued bond. Febelfin emphasizes that banks make every effort to assist their customers as quickly and efficiently as possible with the subscription to the government bond. Read more (FR) |
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UN Environment Programme Finance Initiative (UNEP FI) is hosting its Regional Roundtable on Sustainable Finance for Europe on 12-13 September 2023 in Madrid, Spain.
This event, held in partnership with the European Banking Federation, will help define the role of banking, insurance and investment in proactively accelerating a greener economy whilst transitioning to a low-carbon, inclusive and sustainable future in the region.
The event will convene finance professionals to discuss the most pressing sustainability issues in the region such as climate and nature risk, financing the net zero transition, regulation affecting sustainability integration in the finance industry, and those further out on the horizon like circularity and plastics.
To find out more, please visit the UNEP FI website. |
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FROM THE INSTITUTIONS
ECB: Monetary policy and the pace of disinflation
The economic outlook in the euro area has weakened, says European Central Bank (ECB) Executive Board member Isabel Schnabel. Uncertainty about how fast the slowdown will reduce inflation calls for a data-dependent, robust approach that considers the distribution of inflation risks. Read more
ESMA: Prevailing market uncertainty as downside risks rise
The European Securities and Markets Authority (ESMA) published the second Trends, Risks, and Vulnerabilities (TRV) Report of 2023. ESMA sees that financial markets are adapting to the new economic environment of durably higher inflation and interest rates, however, risks remain high in ESMA’s remit. Read more
BIS: Residential property price statistics
In the first quarter of 2023, global house prices fell in real terms by 3.3% year on year in aggregate, their sharpest decline since the 2007–09 Great Financial Crisis. This reflected a further slowdown in nominal house prices, according to the Bank for International Settlements (BIS). Read more |
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FROM THE EBF
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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This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v.barbieri@ebf.eu
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