| EBF MORNING BRIEF Thursday 20 January 2022 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: ECB would act if inflation more persistent, Villeroy says The European Central Bank (ECB)’s inflation forecasts aren’t a “blind certitude” and the institution will take action if the price surge proves more persistent, Bank of France Governor Francois Villeroy de Galhau said. According to Bloomberg, Villeroy’s central hypothesis remains that inflation will normalize around a ‘new regime’ that wouldn’t be like the too-weak inflation before Covid, but close to the 2% target. Read more
FT: Bundesbank warns German lenders of complacency
German banks are becoming too complacent about the risk of borrowers defaulting and the potential for interest rates to rise, particularly in the country’s booming mortgage market, the deputy head of its central bank has warned. Claudia Buch, Bundesbank Vice-president told the Financial Times (FT) that banks are overly optimistic about the future. Read more
VOX/CEPR: Digitalisation and the future of banking
New technologies are changing how banks produce and provide financial services; this has implications for traditional banks, creating novel sources of systemic risk. This column by VOX/CEPR introduces a report by the European Systemic Risk Board that discusses the impact that digitalization on the structure of the European banking system. Based on three scenarios for the future development of European banking, the authors derive an array of macroprudential policy recommendations. Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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FROM THE EBF MEMBERS UK Finance: Trends in the economy and lending The latest Trends in the Economy And Lending (TEAL) report from UK Finance presents the annual forecasts of housing and mortgage market activity over a two-year time horizon. They also consider macroeconomic forecasts for the UK and how they impact the forward view of lending in the mortgage market. Read more
AEB: Working to improve
Banks are committed to customer service and are constantly working to improve care, especially for the elderly. Specific programs are in place to give them priority attention by telephone and in the branches, José Luis Martínez Campuzano, spokesman for the Spanish Banking Association (AEB) says on supporting measures. Read more (ES) NVB: Interview with Geert Lippens, BNP Paribas Nederlands CEO BNP Paribas has been active in the Dutch market for two centuries. In an interview with the Dutch Banking Association (NVB), BNP Paribas Nederlands CEO Geert Lippens stated “We are the best-kept secret of the Dutch financial sector; I want to change it". Read more (NL) |
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FROM THE INSTITUTIONS
ECB: Euro area monthly balance of payments: November 2021
The European Central Bank (ECB) released the Euro area monthly balance of payments for November 2021. The current account recorded a €24 billion surplus in November 2021, up from €19 billion in the previous month. Read more
BIS: Digital currencies and the soul of money
Agustín Carstens, General Manager of the Bank of International Settlements (BIS) reflects on the future of currencies in the digital currency era at the Goethe University's Institute for Law and Finance (ILF) conference on data and digitalization. "Central banks and public authorities are still the glue that holds the monetary and financial system together. Private-sector services and innovation are essential and should thrive on this foundation. But trust can never be outsourced nor automated", he says. Read more
EIB: Bold crisis response spurs real investment
A “remarkable” policy response by the EU and the Member States prevented the coronavirus pandemic from provoking an economic collapse, European Investment Bank (EIB) President Werner Hoyer said. He pointed to recent data from the EIB Investment Survey as proof of the effectiveness of the response. More than half of firms (56%) in Europe benefitted from some kind of policy support over the past two years. 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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