EBF MORNING BRIEF Thursday 22 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
Finextra: ECB warns banks on outsourcing risks
As reported by Finextra, the European Central Bank (ECB) is warning banks that their management of outsourcing risk must improve, with a stringent focus on the processing of personal data. As part of its supervisory priorities, the ECB says institutions need to tackle vulnerabilities stemming from their increasing operational reliance on third-party providers. The ECB will follow up on this to ensure banks comply with regulation. Read more
Bloomberg: BaFin signals tough stance on banks’ bail-in bonds
Germany’s top official for winding down failing banks said lenders must keep selling bonds that can absorb losses. While higher rates make it more expensive to replace maturing notes, banks will still need to meet a minimum requirement for securities such as AT1 bonds and subordinated debt, Bloomberg reports. Read more
S&P Global Market Intelligence: Europe drives banks' global capital offerings rally in 2023
Banks' global capital offerings picked up in 2023, driven by more buoyant capital markets in Europe, according to S&P Global Market Intelligence data. Debt offerings in Europe were particularly buoyant, jumping 69% to $430.21 billion from $254.15 billion in 2022, while equity offerings in the region edged higher to $2.90 billion from $2.76 billion. Read more |
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MAIN EVENTS
Thursday 22 February
Friday 23 February
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THE FIRST 2024 BANKING ESSENTIALS WEBINAR
Navigating the Green Asset Ratio: What can it tell us about the sustainability performance of banks?
Thursday 14 March 2024 | 3:00 - 4:00 PM (CET)
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Investors are demanding more sustainability related disclosure, and regulators are also closely monitoring the impact of climate change on companies and financial institutions. In principle, the GAR is a simple ratio quantifying EU Taxonomy-aligned assets as a percentage of total covered assets. As banks disclose their GAR alignment for the first time, what does it tell us about their sustainability performance and efforts to finance the green transition? Can GAR be considered an indicator of progress on meeting institutions’ sustainability commitments? In this upcoming webinar you can learn how to navigate GAR and also what to expect from the upcoming revision to improve its usability. |
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FROM EBF MEMBERS
BdB: Comment on German government's annual economic report
The German economy is stuck in stagnation, according to the annual economic report. "What is urgently needed is a comprehensive and major stimulus package that creates better general conditions for economic activity and investment in Germany," says Heiner Herkenhoff, Managing Director of the Association of German Banks (BdB). Read more (DE) Febelfin: Beware of fake bank employees or police officers More and more cases are being reported of elderly people being contacted via telephone by a so-called "fraud department employee" from a bank" or "the police". These fake employees convince their victims that fraud has been detected on their account and offer to visit them at home to "resolve the situation". In doing so, the criminals have only one objective: to steal as much as possible from their victim, Febelfin writes. Read more (FR)
CBA: The real estate market is reviving
The Czech real estate market has been experiencing growth in the number of transactions in all real estate types since last spring. As the Czech Banking Association (CBA) points out, this is a significant recovery, especially after the sharp drop in the overall market in the second half of 2022. Read more (CZ) |
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FROM THE INSTITUTIONS
ECB: Strengthening bank resilience is a priority
Banks must be prudent in the current risk environment, according to European Central Bank (ECB) Supervisory Board Chair Claudia Buch. The ECB will focus on banks’ provisioning practices and how they manage counterparty credit risk, internal governance, and climate and environmental risks. Read more
BIS: House prices fall more shortly
Global house prices fell slightly less in the third quarter of 2023 than in the previous three months, according to data from the Bank for International Settlements (BIS). Besides, the data show that real house prices continued to decline at a faster pace in advanced economies than in emerging market economies. Read more
EC: New initiatives for digital infrastructures of tomorrow
The European Commission (EC) presented a set of possible actions to foster the innovation, security, and resilience of digital infrastructures. This digital connectivity package aims to start a discussion on concrete proposals with stakeholders, Member States, and like-minded partners on how to shape future EU policy action. 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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