EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 14 October 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 accounts show cautious stance on further policy easing
The ECB cut interest rates last month and said it would keep an open mind about October but a long list of policymakers have already made the case for a follow up move, suggesting that the a cut next week is all but a done deal and the real debate will be about December. Read more
The Banker: ECB warns banks of hidden risks in private credit markets; FCA to ease regulation for specialist trading firms
Eurozone banks may not fully understand the risks posed by the expanding private credit market, according to Elizabeth McCaul, a member of the European Central Bank’s Supervisory Board. Read more
Financial Times: EU countries back €35bn loan to Ukraine
EU countries have approved providing Ukraine with a loan of up to €35bn before the end of the year as part of a G7 plan to fund Kyiv's defence agains Russian aggression. Read more The Risk: FDIC’s McKernan wants single capital stack in Basel III endgame In the scramble to approve the US version of the Basel III prudential standards for banks, Federal Deposit Insurance Corporation director Jon McKernan could turn out to be a swing vote. So it’s potentially bad news that his objection to the first draft of the so-called Basel III endgame, which was originally published in July 2023, was quite fundamental. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 14 October
CEPS: ‘Implementing the InvestEU Programme: achievements and the way forward’ event Tuesday 15 October Council Working Party on Tax Questions – Indirect Taxation CEPS ‘The fallout from CrowdStrike: managing systemic risks in future EU cyber security policy’ event Unlocking trillions of climate finance at COP29: A new quantified goal of climate finance Wednesday 16 October European Policy Centre ‘Europe’s hidden champions: Unlocking the potential of mid-caps for competitiveness and security’ event Council Horizontal Working Party on Cyber Issues Thursday 17 October Eurostat: Inflation (HICP) (September 2024) Governing Council of the ECB: monetary policy meeting hosted by Banka Slovenije Friday 18 October |
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FROM EBF MEMBERS ABBL: New collective bargaining agreement for the Luxembourg banking sector The ABBL announced the official signing of the new collective bargaining agreement for the Luxembourg banking sector, covering the period 2024-2026. This agreement, negotiated in collaboration with ALEBA, LCGB, and OGBL trade unions, marks a significant milestone in ensuring the sector remains competitive and attractive while addressing future challenges. Read more
HUB: Financing the Green and Blue Economy: EIB and HUB Organized a European Breakfast for Key Participants in the Croatian Financial Sector
The European Investment Bank (EIB) and the Croatian Banking Association (HUB) jointly organized a European Breakfast titled 'Financing the Green and Blue Economy: Opportunities and Challenges for Croatian Banks. Read more (HR)
Finance Denmark: Danes are losing more and more money to romance scams
They are looking for love but instead lose their savings. While the number of victims of so-called romance scams remains relatively constant, the amount of money stolen has doubled since the second half of 2023. This is shown by new figures from Finance Denmark. Read more (DK) |
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FROM THE INSTITUTIONS
ECB: Account of the September monetary policy meeting
The Governing Council decided to cut interest rates. Recent incoming data and the virtually unchanged staff projections had increased confidence that disinflation was broadly on track. Read more
EIOPA: Joint Committee of the ESAs to focus on digital resilience and sustainability disclosures in 2025
The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) published its Work Programme for 2025, placing particular emphasis on ongoing collaboration to tackle cross-sectoral risks, promoting sustainability in the EU financial system and strengthening financial entities’ digital resilience. Read more
EC: Commission adopts €1.8 billion support package to underpin Moldova's economic growth plan on its path to the EU
The European Commission adopted a Growth Plan for the Republic of Moldova worth €1.8 billion and underpinned by a Reform and Growth Facility for the period 2025-2027. 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
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