EBF WEEKLY + FINANCIAL REGULATION AGENDA
For the week starting Monday 17 February 2025

An overview of the main financial regulation and banking stories this week and a look ahead to key events for the upcoming week, brought to you by the European Banking Federation.

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FROM THE MEDIA

The Banker: Commerzbank Announces Job Cuts and Promises Profit Increases

Commerzbank plans to cut 3,900 jobs and has set more ambitious financial targets as part of a strategic overhaul, according to The Banker. Read more.

Bloomberg: Barclays Trading Income Shines as Trump Bump Boosts Earnings

Barclays' investment banking and equities trading divisions outperformed expectations, benefiting from market volatility following President Trump's re-election, reports Bloomberg. Read more.

Politico: The UK Economy Just About Grew at the End of 2024

The UK's gross domestic product grew by 0.1% in the last quarter of 2024, narrowly avoiding a recession, according to Politico. Read more.

MLex: EU Cryptoassets Industry Sees Detailed Rules Formally Issued

The European Union has formally issued detailed regulations for the cryptoassets industry, covering areas such as cooperation arrangements between authorities and the functioning of consultative supervisory colleges, reports MLex. Read more.

FINANCIAL REGULATION AGENDA for next week

Monday 17 February

The Central Bank Payments Conference

Eurogroup – meeting

Council Horizontal Working Party on Cyber Issues

Council Working Party on Financial Services and the Banking Union (Banking Union)

Council Working Party on Tax Questions – Direct Taxation

Tuesday 18 February

Bruegel ‘Preserving and enhancing open financial markets: a conversation with Andrew Bailey’ fireside chat

Council Economic and Financial Affairs – meeting

RUSI Thought Leadership Launch supported by Cisco ‘Digital Priorities for Defence in an Uncertain World’ exclusive roundtable

IFC Workshop on Data Science in Central Banking – workshop

European Parliament Committee on Budgetary Control (CONT) Meeting

Council Working Party on Telecommunications and Information Society

European Parliament ‘Hybrid War: protection of undersea cables in the Baltic Sea’ public hearing

European Internet Forum ‘Advancing Preventive Care: The Role of AI and Data Governance’ lunch debate

Council Economic And Financial Affairs Press Conference

European Parliament Subcommittee on Security and Defence (SEDE) Meeting

Wednesday 19 February

Eurostat: Balance of payments (December 2024) – data release

ECB: Governing Council of the ECB: non-monetary policy meeting

DIGITALEUROPE-NATO ‘Shaping the Future of Digital Defence’ event

EIB: Spain Annual Results Press Conference

European Internet Forum ‘Cyber resilience of European healthcare: readiness of the sector’ breakfast debate

Council Financial Services Committee (FSC) – meeting

Council Working Party on Information Exchange and Data Protection (DAPIX)

ECB: Euro area investment fund statistics (Q4 2024) – data release

Coreper I – meeting

Thursday 20 February

Council Working Party on Tax Questions – Direct Taxation

Council Horizontal Working Party on Cyber Issues

Friday 21 February

Council Working Party on Financial Services and the Banking Union (Financial Services)

Geneva Graduate Institute ‘Feeling Unsafe: Law as Emotional Regulation in the Development and Deployment of AI-enabled Means and Methods of Warfare’ panel discussion

Geneva Graduate Institute ‘Hackathon: Mapping Marginalised Expertise across the Globe’ – event

Coreper I – meeting

Council Standing Committee on Operational Cooperation on Internal Security (COSI) – meeting

UPCOMING EBF EVENTS

Exploring Basel III/IV: Scenarios for Financial Stability and Growth - March 5 at 4 PM

The implementation of the Basel III/IV capital reforms has become a political issue while banks are in the final straight. The balance between financial stability and competitiveness has taken over priority at a time when international relationships are being redefined. The US administration is re-evaluating its approach to the reforms, while, the UK has postponed the start of their adoption to 2027. Register to attend here

European Money Week - March 18 at 9 AM

Join us at the EBF Premises for the 11th edition of European Money Week, themed "From Financial Literacy to European Legacy: Building Financially Resilient Generations." This year's event highlights the importance of equipping citizens with the knowledge and skills necessary for a stronger financial future. Read more and register here

FROM EBF

EU and UK Industry Joint Statement in Support of the EU-UK Financial Regulatory Forum

Representatives from 13 EU and UK industry associations met in Brussels to discuss financial stability, markets, and sustainable and digital finance. The roundtable preceded the EU-UK Financial Regulatory Forum, highlighting the need for a stronger, more transparent regulatory dialogue to enhance global financial governance. Read the full statement

Slawomir Krupa Has Been Elected Our New EBF President

The European Banking Federation (EBF) has announced the election of Mr. Slawomir Krupa as its new President. Mr. Krupa, CEO of Société Générale, will officially assume the role on 1 March 2025. He succeeds Christian Sewing, CEO at Deutsche Bank, who will conclude his two-year term at the end of February. Read more

New EBF Position Paper! Simplification of the EU Sustainable Finance Framework Omnibus Legislative Proposal Proposal

The omnibus simplification initiative of the EC is an opportunity to refocus on the core elements that are needed to achieve the EU environmental objectives. It is a logical step in the context of the EC’s policies and initiatives outlined in the recently published competitiveness compass. Europe’s global competitiveness and climate goals can and should go hand in hand. Read more

EBF Vacancies! Work with us!

Visit our Vacancies page to learn more about EBF's openings. Read more

FROM EBF MEMBERS

Czech Banking Association: Inflation Slowed to 2.8% in January

Inflation in the Czech Republic decreased to 2.8% in January, reflecting a continued downward trend. Read more (CZ).

UK Finance: Politically Exposed Persons in the UK – A Stocktake

UK Finance reviews the regulatory landscape for politically exposed persons (PEPs) and its impact on financial institutions. Read more.

Association of German Banks: Impulses for Growth and Prosperity

BdB outlines key economic measures to promote growth and long-term financial stability in Germany. Read more (DE).

Finance Latvia: FNA Podcast – Financial Dialogue on Key Topics

Finance Latvia releases a new podcast episode discussing major trends and challenges in the financial sector. Read more (LV).

FROM THE INSTITUTIONS

European Central Bank: Working paper on the role of central banks in climate transition

A new ECB working paper explores how central banks can support the climate transition while maintaining price stability and financial stability. Read more.

European Securities and Markets Authority: Consultation on revised disclosure requirements for private securitisations

ESMA is seeking feedback on proposed updates to disclosure requirements for private securitisations, aiming to enhance transparency and investor protection. Read more.

European Central Bank: Economic Bulletin – January 2025

The ECB’s latest Economic Bulletin provides insights into euro area economic developments, inflation trends, and monetary policy considerations. Read more.

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

European Banking Federation