EBF MORNING BRIEF Tuesday 4 June 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 rate cut will be rare bright spot in troubled Euro Area
This week’s interest-rate cut is a milestone for the European Central Bank (ECB). As reported by Bloomberg, for the first time in two decades policymakers get to start a monetary-easing cycle without having their hand forced by an emergency. Read more
FT: A ‘goldilocks’ moment is approaching for Italian bank deals
Italy is approaching a goldilocks moment when the politics and economics are right to get a deal done. According to the Financial Times (FT), it all comes down to valuation. Italian banks and their shareholders made hay, across the board, as interest rates rose. As the sun sets on this rate cycle, their fortunes will diverge giving buyers their opportunity. Read more
Cointelegraph: EU elections 'wildcard' could pave the way for Ether ETF
a key moment for crypto regulations and the approval of spot Ether (ETH) exchange-traded funds (ETFs). According to Jag Kooner, head of derivatives at Bitfinex, it could pose a “wildcard” moment for shaping future crypto regulations, Cointelegraoh reports. Read more |
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MAIN EVENTS Council Working Party on the Environment |
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THE SECOND 2024 BANKING ESSENTIALS WEBINAR
Payback time: Assessing credit risk at Europe's banks
in an uncertain climate
Thursday, 13 June 2024 | 2:00 - 3:00 PM (CET) . |
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| | European banks have enjoyed strong profits recently on the back of higher interest rates, but credit risk is increasingly in the spotlight. Consumers and businesses are struggling
with higher costs following the recent surge in inflation, putting pressure on loan repayments, while banks’ exposure to risky areas such as leveraged loans
and commercial real estate is a cause of concern for markets.
Join our panel as we discuss the current state of credit risk and asset quality
in Europe, how some economies have rid themselves of huge bad
loan burdens, and where things go from here.
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FROM EBF MEMBERS ABBL: Retail banks welcome ING Luxembourg retail customers In view of the concerns raised by ING's decision to stop its retail banking services in Luxembourg, the Luxembourg Bankers' Association (ABBL) and the Luxembourg retail banks have joined forces to take all the necessary measures to assist the customers concerned in transferring their assets to another bank. Read more
ABI: Marco Elio Rottigni appointed General Manager
The Executive Committee of the Italian Banking Association (ABI), at its meeting on 30 May 2024, unanimously proposed to the ABI Board the appointment of Marco Elio Rottigni as ABI General Manager and unanimously proposed to the ABI Board the confirmation of Antonio Patuelli as ABI Chairman. Read more (ITA) Finance Norway: Consumer debt increased by 1.8 billion last month Credit card debt increased by 1.6 billion last month, and repayment loans increased by 0.2 billion. So far this year, consumer debt has increased by 4.7 billion and on 1 June it amounted to 165.1 billion. Read more (NO) |
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FROM THE INSTITUTIONS
ECB: Consultation on outsourcing cloud services
The European Central Bank (ECB) launched a consultation on its new Guide on outsourcing cloud services to cloud service providers. The Guide aims to clarify the ECB’s understanding of related legal requirements and its expectations for the banks it supervises. Read more
ESRB: Climate-related risks are reflected in IFRS financial statements
The European Systemic Risk Board (ESRB) has published a report examining how International Financial Reporting Standards (IFRS) accounting standards can reflect climate-related risks from a financial stability perspective. The report focuses on financial information, therefore does not discuss recently issued sustainability standards Read more EC: Interview with José Manuel Campa José Manuel Campa has been Chair of the European Banking Authority (EBA) since March 2019. In an intervew with the European Commission (EC), he talks to us about the role of the EBA, how prepared banks are to weather future crises, and how digitalization is impacting the EU's banking sector. 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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