EBF MORNING BRIEF Wednesday 1 February 2023 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
Reuters: EU tests banks' ability to cope 'high-for-long' interest rates
EU banking regulators launched a stress test to check how banks could cope with a long period of high inflation and interest rates. As reported by Reuters, the broadest and toughest test to date assumes that Russia will cut off its remaining gas supplies to the EU, sending energy prices surging, and EU inflation to 9.7%, compared with the eurozone peak of 10.6% last October. Read more
Bloomberg: UBS, UniCredit show there’s money in European banking
UBS Group and UniCredit, the first two big European lenders to report 2022 results, both proposed larger-than-expected capital returns to investors. According to an opinion piece published by Bloomberg, this suggests that investors in European banks are seeing a brighter future for traditional consumer and corporate lending businesses than for the struggling capital markets side. Read more
Finextra: ECB to stress test 99 banks
The European Central Bank (ECB) will stress test a total of 99 directly supervised banks in 2023, Finextra reports. ECB supervisors will examine 57 of the euro area’s largest banks, which were selected to cover broadly 75% of the area’s banking assets, as part of the 2023 EU-wide stress test coordinated by the European Banking Authority (EBA). Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS AEB: SECOT and AEB digitization school The Spanish Seniors Association for Technical Cooperation (SECOT) and the AEB Foundation, of the Spanish Banking Association (AEB), launched 'Connecting older people', a training program in the use of new technologies for people over 60 years old. Read more (ES)
Finance Denmark: A few more Danes find it difficult to pay mortgages
A few more homeowners have found it more difficult to pay their mortgages on time. However, the vast majority still pay their installments on time. A higher level of interest and rising consumer prices may be part of the explanation. This is shown by figures published by Finance Denmark. Read more (DK)
CBA: Economy shrank 0.3% quarter-on-quarter
According to the first preliminary estimate published by the CZSO, the domestic economy fell by 0.3% quarter-on-quarter in the last quarter of 2022. The downturn was expected, but it was milder in the end. This indicates a relatively solid resilience of the domestic economy, the Czech Banking Association (CBA) writes. Read more (CZ) |
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FROM THE INSTITUTIONS
EBA: Launch of the 2023 EU-wide stress test
The European Banking Authority (EBA) launched the 2023 EU-wide stress test and released the macroeconomic scenarios. The adverse scenario is based on a narrative of hypothetical heightened geopolitical tensions, with high inflation and higher interest rates having strong adverse effects on private consumption and investments. Read more
ECB: Bank Lending Survey results: January 2023
According to the euro area bank lending survey (BLS) published by the European Central Bank (ECB), credit standards tightened substantially due to higher risk perceptions and interest rates. Besides, firms’ loan demand decreased. Read more
ESMA: Withdrawal of the CRA registration of Qivalio SAS
The European Securities and Markets Authority (ESMA) has withdrawn the credit rating agency (CRA) registration of Qivalio SAS, following the asset transfer of the credit rating activities from Qivalio SAS to EthiFinance Ratings S.L. (formerly Axesor). Read more |
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FROM THE EBF
EBF joins forces with Deloitte Risk Advisory’s pan-European team on cyber resilience and digital assets
After the collaboration with Deloitte Luxembourg on the future of banking and sustainability, we are excited to announce that we are joining forces with Deloitte Risk Advisory’s pan-European team on cyber resilience and digital assets. Read more
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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