EBF MORNING BRIEF Wednesday 21 February 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 says eurozone wage growth slowed in fourth quarter
Negotiated pay in the eurozone rose 4.5% at the end of 2023, according to the European Central Bank (ECB), soothing fears that rising salaries could sustain inflation above the target. While a separate forward-looking ECB tracker of pay signals pressures, agreements indicate some leveling off in the last quarter of 2023, Bloomberg reports. Read more
Finextra: Banks "barking up the wrong tree" over CBDC deposit flight
As reported by Finextra, the European Central Bank (ECB) says banks are "barking up the wrong tree" when they fret over the impact of deposit flight from a future digital euro, arguing instead that stablecoins and electronic money institutions pose more of a threat to the deposit base. Read more
S&P Global Market Intelligence: Raiffeisen Bank's Belarus exit would provide relief from reputational strain
Raiffeisen Bank International AG's sale of its unit in Belarus will alleviate some reputational and regulatory pressure on the Austria-based lender, analysts at S&P Global Market Intelligence said. RBI has been under pressure over its continued presence in Russia, which counts Belarus as an ally, following the invasion of Ukraine in 2022. Read more |
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MAIN EVENTS Council Working Party on Tax Questions (Direct Taxation) Council Horizontal Working Party on Cyber Issues |
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FROM EBF MEMBERS
ABI: Joint research with Privacy Guarantor on Data Protection Officer
Relationship with the top management, independence in performing one's duties, autonomy, and allocation of adequate resources to the Data Protection Officer. These are some of the issues covered by research coordinated by the Italian Banking Association (ABI) on the role of this new figure in the banking sector. Read more (IT)
SBA: First taxonomy reporting by banks
For the first time, major banks are reporting the proportion of their lending and investments that are in line with the EU's green taxonomy. The European Banking Federation (EBF) has published a report highlighting some key issues that are useful to understand taxonomy reporting, the Swedish Bankers' Association (SBA) reports. Read more (SE)
NVB: Acceleration of sustainability is possible but via a different route
Banks want and can contribute to the acceleration of the climate and energy transition in the Netherlands in collaboration with the government, businesses, and consumers. According to the Dutch Banking Association (NVB), this requires a different route with different choices than proposed in a recent government consultation. Read more (NL) |
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FROM THE INSTITUTIONS
ECB: Euro area monthly balance of payments for December 2023
The European Central Bank (ECB) published the monthly euro area balance of payments for December 2023. Among the data, it is noted that current account of the euro area recorded a surplus of €32 billion, an increase of €10 billion from the previous month. Read more
ESMA: Working group for investment management standing committee
The term of the current Consultative Working Group (CWG) for the Investment Management Standing Committee (IMSC) will expire shortly. Thus, the European Security and Markets Authority (ESMA) launched the process to renew the IMSC-CWG composition. Read more
EBA: Consultation on amendments to the operational risk Pillar 3 and supervisory reporting requirements to implement Basel III reforms
The European Banking Authority (EBA) launched a public consultation on two draft Implementing Technical Standards (ITS) amending Pillar 3 disclosures and supervisory reporting requirements for operational risk. Read more |
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FROM THE EBF
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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.
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