EBF MORNING BRIEF Thursday 5 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
Bloomberg: ECB policy risks becoming too restrictive, Cipollone Says
The European Central Bank (ECB) shouldn’t keep interest rates too high for too long as doing so could damage the economy, according to Executive Board member Piero Cipollone. As reported by Bloomberg, the Italian official said that “there is a real risk that our stance could become too restrictive". Read more The Banker: How to navigate the ESG disclosure maze Sustainability reporting is complex and changing rapidly. But, as The Banker highlights, there are some important steps all companies — including banks — can take to mitigate risk and maximise opportunities. Read more
Reuters: ECB 'terminal rate' seems too high
The market's best guess is the European Central Bank (ECB) won't step on the accelerator over the coming cycle - which is either way off beam or extremely worrying. According to Reuters, based on current money market projections, the ECB's overall interest rate setting is expected to continue to act as at least a mild drag on the slow-growing bloc over the next two years even as it gradually reduces its main policy rate. Read more |
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MAIN EVENTS
Thursday 5 September
Friday 6 September |
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Banking Governance Programme Lausanne - October & January |
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 | EBF is pleased to inform about the new Banking Governance Programme in partnership with IMD - Business School for Management and Leadership Courses.
The programme consists of two modules offered on the IMD Campus in Lausanne:
Module 1: 21 – 24 October 2024; Module 2: 27 – 30 January 2025.
Through this partnership, EBF members (and their members) are entitled to a 25% discount for the first programme. For more information visit the IMD website and reach out directly to EBF (s.debrouwer@ebf.eu) and IMD (polina.bochukova@affiliate.imd.org). |
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FROM EBF MEMBERS
CBA: The number of cyber frauds is increasing dramatically
The Czech Banking Association (CBA) draws attention to the continued increase in cyber attacks targeting bank clients throughout the Czech Republic. In the first seven months of this year alone, 49,436 clients were attacked, which represents an increase of 37% compared to the same period last year. Read more (CZ)
Finance Norway: Loyal implementation of new capital requirements
Finance Norway has issued a consultation response on the Norwegian implementation of changes to the EU rules for banks' capital requirements (CRR3). Read more (NO)
UK Finance: Financial Education Report 2024
Financial education is increasingly recognised as a fundamental life skill, and with nearly a quarter of UK adults saying that they have low confidence in managing their money and children’s attitudes towards money being established by the age of 7, it is vital that children have access to a meaningful financial education from a young age. Read more |
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FROM THE INSTITUTIONS
ECB: Banking on operational resilience
Banks cannot weather storms in today’s risk landscape with financial resilience alone, says European Central Bank (ECB) Supervisory Board Vice-Chair Frank Elderson. They must also invest in operational resilience to ensure they are future-proof. Read more
EIOPA: Monthly technical information for Solvency II RFR
The European Insurance and Occupational Pensions Authority (EIOPA) has published technical information on the relevant risk-free interest rate term structures (RFR) with reference to the end of August 2024. Read more BIS: Gen AI and labour productivity The Bank for International Settlements (BIS) has published a working paper on Generative artificial intelligence (Gen AI) tools. These AI models have demonstrated capabilities comparable to humans in areas like clinical care, education, language modelling, art, music and design. 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 r.hrelja@ebf.eu European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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