EBF MORNING BRIEF Tuesday 7 May 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’s Lane more certain that inflation is returning to goal
European Central Bank Chief Economist Philip Lane said recent euro-area data have made him more certain that inflation is returning to the 2% goal, raising the likelihood of a first interest-rate cut in June. In an interview, the Irish official cited a report on consumer prices last week that showed pressures in the service sector eased for the first time since November, Bloomberg reports. Read more
Euractiv: Revival of EU Single Market – Defining the road ahead
The European Single Market – one of the EU’s greatest achievements – is stuttering, according to several industry stakeholders. Their concerns include too much fragmentation, excessive bureaucracy, and lack of harmonised rules. Former Italian Prime Minister Enrico Letta was tasked with preparing a report on the future of the Single Market, set to be discussed by European heads of government in the coming months. Read more
Reuters: ECB's Simkus expects June rate cut to be followed by others
The European Central Bank's (ECB) initial interest rate cut in June will likely be followed by other moves as long as the economy continues to develop as expected, Lithuanian policymaker Gediminas Simkus said on Monday. According to Reuters, Simkus said he earlier expressed support for three rate cuts this year and that the economy continued to develop along the lines the ECB had outlined in its last projections. Read more |
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FROM EBF MEMBERS
Finance Nprway: The labour agreement 2024 can be implemented
The recommended proposal for this year's labour agreement between Finance Norway and Finansforbundet and LO v/Handel og Kontor and Fagforbundet from 23 April has now been approved by all parties. The new wage rates can thus be implemented. Read more (NO)
AEB: Fear of technology? None, we just ask for the same rules
The Spanish banking sector is coming off a year with record profits, favoured by a situation with sharp interest rate hikes that allowed margins to widen. However, it still has several challenges to face, such as the permanent threat of the incursion of technology companies, says Alejandra Kindelán, Spanish Banking Association (AEB) President. Read more (ES)
BdB: Final of the Schulbanker banking simulation game
The winners of the Schulbanker final have been announced: the ‘Die Pfeffersäcke’ team from Hamburg's Heisenberg-Gymnasium won against 19 competing banks. The ‘Banco de Papel’ team from the Gymnasium am Stefansberg in Merzig took silver and the ‘MP-Bank’ team from the vocational schools in Korbach and Bad Arolsen won bronze. Read more (DE) |
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FROM THE INSTITUTIONS
ECB: Low for long? Reasons for the recent decline in productivity
Strong employment growth amid weak economic activity has recently led to declining labour productivity. The European Central Bank (ECB) Blog discusses causes and prospects for a cyclical recovery in productivity growth. Read more
EIOPA: Monthly technical information for Solvency II RFR
The European Insurance and Occupational Pensions Authority (EIOPA) published technical information on the relevant risk-free interest rate term structures (RFR) with reference to the end of April 2024. The RFR information has been calculated on the basis of the Technical Documentation. Read more EC: How have spending reviews evolved through EU initiatives? This European Commission (EC) paper explores the recent improvements to spending reviews, focusing on projects supported through different EU initiatives. 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 Leading European Associations’ Shared View On Improving Competitiveness of European Capital Markets The European Banking Federation (EBF), the European Fund and Asset Management Association (EFAMA), and the Federation of European Securities Exchanges (FESE) have released a joint report on the development of European capital markets and recommendations to enhance their competitiveness. 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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