EBF MORNING BRIEF Wednesday 11 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
Euronews: Will the ECB cut interest rates this week as expected?
The European Central Bank (ECB) is expected to cut interest rates on September 12 due to falling inflation and sluggish growth. Analysts predict a 25 basis point reduction in the deposit rate. Further cuts may follow in December and throughout 2025, with inflation and economic forecasts set to be revised. Read more FT: Make Europe (securitisation) great again Europe pioneered mortgage-backed bonds before the US was even born, but today its securitised bond market is a runt compared to America’s. As the Financial Times (FT) reports, Mario Draghi thinks that should change. Read more
Risk.net: Risk management overhauls juggle speed and independence
According to Risk.net, some banks say the 1.5 line of defence responds faster to risk, but supervisors are still divided. Read more |
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MAIN EVENTS Council Horizontal Working Party on Cyber Issues |
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Banking Governance Programme Lausanne - October & January |
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| | A new Banking Governance program was launched by IMD, the international business school in Lausanne, in partnership with the European Banking Federation.
This program is tailored for leaders in the banking and finance sectors, addressing the specific governance challenges of a complex and heavily regulated industry. Participants will gain valuable insights into best practices and strengthen their ability to navigate regulatory requirements and guide their institutions more effectively.
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, reach out directly to EBF (s.debrouwer@ebf.eu) and IMD (stephane.attias@imd.org) and follow the upcoming information webinar on September 20th at 16.30 CET via MS Teams. |
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FROM EBF MEMBERS CBA: Inflation remained at 2.2 percent in August According to Reuters data reported by the Czech Banking Association (CBA), August year-on-year inflation stagnated at 2.2% and ended up above the market estimate of 2% and the central bank's older estimate of a decline to 1.8%. Read more (CZ)
Finance Denmark: Apartment prices set a new record
In August, the offer prices for owner-occupied flats reached a record high level nationwide. It is especially the development in Copenhagen and Frederiksberg that has helped to push the supply price level upwards. Read more (DK)
Finance Latvia: Klix becomes the largest provider of full-service payment solutions in the Baltics
Klix by Citadele becomes the most extensive bank full-service payment solution in the Baltics, which offers Internet banking, card, Apple Pay, Google Pay and the possibility to split the payment through lenders. Read more (LV) |
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FROM THE INSTITUTIONS
ECB: Consolidated financial statement of the Eurosystem
The European Central Bank (ECB) has published the Consolidated financial statement of the Eurosystem as at 6 September 2024. Read more
ESAs: Warning of risks from economic and geopolitical events
The three European Supervisory Authorities (ESAs) issued their Autumn 2024 Joint Committee Report on risks and vulnerabilities in the EU financial system. The Report underlines ongoing high economic and geopolitical uncertainties. Read more BIS: Which exchange rate matters to global investors? How do exchange rates affect the asset allocation of bond portfolio investors? Using detailed security-level holdings, the Bank for International Settlements (BIS) finds that euro area-based investors systematically shed sovereign bonds as the dollar strengthens, confirming the role of the dollar as a global risk factor even for euro-based investors. 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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