EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 10 June 2024 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 Recommend the EBF newsletters to a colleague. Click here to sign up! |
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FROM THE MEDIA
Reuters: ECB delivers on rate cut pledge despite inflation worries
The European Central Bank (ECB) went ahead with its first interest rate cut since 2019, citing progress in tackling inflation even as it acknowledged the fight was far from over. As reported by Reuters, in new forecasts released with the widely flagged rate cut, the ECB said it expected inflation to average 2.2% in 2025. Read more
The Banker: EU banking regulator sees rise in alleged greenwashing amid stricter ESG scrutiny
Alleged incidents of greenwashing within the EUâs financial sector increased by almost 14 % last year compared to 2022, according to the European Banking Authorityâs latest and final progress report on greenwashing monitoring and supervision, notes The Banker. Read more Bloomberg: Euro jumps as traders pare wagers on ECB rate cuts According to Bloomberg, the Euro jumped and bonds fell as traders dialed back bets on additional interest rate cuts by the European Central Bank (ECB), after it delivered a widely-expected reduction but raised its inflation forecasts. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 10 June
Tuesday 11 June Starling Insights '2024 Compendium' Launch Event (Maria Ana Barata, EBF Senior Policy Adviser on Prudential Policy & Supervision, speaking)
Wednesday 12 June
Council Horizontal Working Party on Cyber Issues Thursday 13 June Council Working Party on the Environment
Friday 14 June
Council Horizontal Working Party on Cyber Issues Council Working Party on the Environment |
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THE SECOND 2024 BANKING ESSENTIALS WEBINAR
Payback time: Assessing credit risk at Europe's banks
in an uncertain climate
Thursday, 13 June 2024 | 2:00 - 3:00 PM (CET) |
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| | European banks have enjoyed strong profits recently on the back of higher interest rates, but credit risk is increasingly in the spotlight. Consumers and businesses are struggling
with higher costs following the recent surge in inflation, putting pressure on loan repayments, while banksâ exposure to risky areas such as leveraged loans
and commercial real estate is a cause of concern for markets.
Join our panel as we discuss the current state of credit risk and asset quality
in Europe, how some economies have rid themselves of huge bad
loan burdens, and where things go from here.
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FROM EBF MEMBERS
BdB: Further ECB interest rate cuts not automatic
The European Central Bank (ECB) has reacted to the decline in inflation risks since autumn last year and key interest rates were slightly reduced. However, they remain at a level that continues to dampen the economy. "That's a good thing, because the European monetary authorities are still a long way from combating the dangers of inflation", says Heiner Herkenhoff, CEO of the Association of German Banks (BdB). Read more (DE) FBF: Payment fraud: together, letâs be vigilant The French Banking Federation (FBF) and other institutions are calling on the French people to be more vigilant in the face of attempted payment fraud. To mark the occasion, they are launching a major awareness-raising campaign from 8 June. Read more (FR) Febelfin: More new business loans, fewer credit barriers A new Febeflin report shows that outstanding business loans at the end of March 2024 were 1.6% higher than a year earlier at âŹ190.2 billion. In the first quarter of 2024, 1.4% more business loans were applied compared to the same period in 2023, with the total amount of these loans increasing by a relatively slight 0.9%. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: Monetary policy decisions
The Governing Council decided to lower the three key European Central Bank (ECB) interest rates by 25 basis points. Based on an updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady. Read more
EBA: Governance regulatory products under the MiCAR
The European Banking Authority (EBA) has been actively working on shaping the regulatory landscape for crypto assets by publishing three regulatory products on governance, conflicts of interest and remuneration under the Markets in Crypto-Assets Regulation (MiCAR). These products are part of the EBAâs ongoing efforts to foster a transparent, secure, and well-regulated crypto-assets market. Read more SRB: Legal Conference 2024 The Single Resolution Board (SRB) held its third legal conference at its headquarters in Brussels on 6 June. As in previous years, the conference brought together renowned practitioners, academics and policy-makers to discuss legal topics around the European Banking Union and the Single Resolution Mechanism. 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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