EBF MORNING BRIEF Tuesday 17 December 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
The Banker: Europeās banks gear up for a wave of consolidation in 2025
UniCredit chief Andrea Orcelās unexpected moves on Commerzbank and Italyās Banco BPM have unsettled both German and Italian politicians, and disrupted the strategies of several bank CEOs, whose preference for organic growth has been challenged by UniCreditās push for scale in its European markets, writes The Banker. Read more
Bloomberg: Germany Enacts Provisional Budget for 2025 Before Snap Elections
According to Bloomberg, Germanyās finance ministry announced plans to implement a provisional budget at the start of 2025. The move comes after the collapse of Olaf Scholzās three-party coalition and as the country prepares for elections in February. Read more
FT: ECBās Christine Lagarde says ādarkest daysā of high inflation are behind Eurozone
As Financial Times reports, European Central Bank president Christine Lagarde has come closer than ever to claiming victory in the fight against inflation, saying āthe darkest days of winter look to be behind usā and that further interest rate cuts were likely. Read more |
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MAIN EVENTS Deutsche Bundesbank: The German financial system has dealt well with the rise in interest rates ā which risks should we still keep an eye on? Forum Bundesbank Council Working Party on Financial Services and the Banking Union (Financial Services) |
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FROM EBF MEMBERS Finance Denmark: After Trump's Election Victory: Danes Invest Record Amount in Funds with North American Stocks In November, investors purchased a net amount of 2.2 billion DKK worth of investment certificates in funds investing in North American stocks. This is more than double the previous record and corresponds to 11 percent of the assets in the respective funds at the start of the month. Read more (DK)
UK Finance: Increased activity in the mortgage market anticipated in 2025
UK Finance has today published its housing and mortgage market forecasts for 2025 and 2026 together with projections for 2024 full year numbers. Read more Finance Latvia: Volume of Loans Issued by FNA Increases by 4.5% Data compiled by the Financial Industry Association (FNA) indicates that the volume of loans issued by commercial banks in Latvia exceeded 16 billion euros at the end of September 2024, representing a 4.5% increase compared to the previous year. Read more (LV) |
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FROM THE INSTITUTIONS
ECB: What drives domestic inflation? The triangle of wages, profits and productivity
In response to surging inflation, the ECB decisively raised interest rates and tightened its policy stance. Inflation in the euro area has since fallen from its peak of 10.6% in October 2022 to 2.3% in November 2024. But while headline inflation, which includes the prices for imported goods such as oil and gas, has fallen quickly, domestic inflation, which is heavily influenced by prices for services, remains high at around 4%. Read more
ESRB: Call for papers: Ieke van den Burg Prize
The Advisory Scientific Committee (ASC) awards an annual prize to recognise outstanding research conducted by young scholars on a topic related to the ESRBās mission to prevent and mitigate systemic risks to financial stability. Read more
ESMA: ESMA delivers final report on equity transparency under MiFID II
The European Securities and Markets Authority (ESMA), the EUās financial markets regulator and supervisor, published today the Final Report with proposals for amendments related to equity transparency under the Markets in Financial Instruments Directive (MiFID II). Through its proposals ESMA aims to contribute to a more informative pre-trade and post-trade transparency regime. 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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