EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 4 March 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 to keep floor under market rates but with eye on demand
The European Central Bank will continue putting a "floor" under market interest rates in the years to come, but banks will play a greater role in deciding how much liquidity they want, four sources told Reuters. Read more
Finextra: BBVA launches unit to finance cleantech innovation
Carlos Torres Vila underscored the role of clean technologies in decarbonizing the economy. In a talk alongside Lei Zhang, Envision CEO, the BBVA Chair stressed the opportunity for growth of innovation in the green industrial revolution, Finextra reports. Read more
FT: European inflation falls but sticky services costs raise ECB doubts
According to the Financial Times (FT), inflation in eurozone’s largest economies has fallen to its lowest level since mid-2021, but services prices remain stubbornly strong, presenting the European Central Bank (ECB) with a conundrum over when to cut interest rates. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 4 March
Council Working Party on the Environment Deutsche Bundesbank, Joint Vienna Institute and the Bank of Austria ‘Monetary policy implementation’ course Tuesday 5 March Council Working Party on the Environment TheCityUK and Financial Services Skills Commission ‘Future Skills’ conference Wednesday 6 March Council Horizontal Working Party on Cyber Issues Council Working Party on the Environment
Thursday 7 March
Council Working Party on Tax Questions (Direct Taxation)
Friday 8 March
Council Horizontal Working Party on Cyber Issues Council Working Party on the Environment |
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FROM EBF MEMBERS
ABBL: AI Act: implications for the financial sector
The recent joint Luxembourg Bankers' Association (ABBL) and Arendt conference, entitled "AI Act: Impacts for the Financial Sector", highlighted the future regulatory landscape surrounding artificial intelligence (AI) and its effects on the financial sector. Read more
BdB: Weak economy and uncertainty depress companies' sentiment
The German economy continued its pronounced phase of weakness in the winter half-year 2023/24. As reported by the Association of German Banks (BdB), gross domestic product fell noticeably in Q4 2023 compared to the previous one, and a further decline in the first three months of 2024 is very likely. What's more, the economic sentiment indicators do not point to a rapid recovery in the German economy over the remainder of the year. Read more (DE)
Finance Latvia: Financial fraud in Latvia hits €3 million per month
According to data collected by Finance Latvia, the scale of the fraudsters' activity was particularly high in January, reaching almost EUR 3 million. Of these, €1.4 million could be prevented, while €1.5 million could not be recovered. The fraudsters gained access to the funds when the citizens themselves approved the fraudulent payments. Read more (LAT) |
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FROM THE INSTITUTIONS
ECB: Supervising counterparty credit risk: a European perspective
Elizabeth McCaul, member of the Supervisory Board of the European Central Bank (ECB), outlined the ECB's approach to the supervision of counterparty credit risk (CCR), referring to the ECB's report on good governance and management practices for CCRs. Read more
EIOPA: Reasons behind consumers’ reluctance to taking out natural catastrophe insurance
The European Insurance and Occupational Pensions Authority (EIOPA) published its revised Staff Paper on demand-side factors contributing to the low uptake of natural catastrophe insurance across Europe. The Paper explores the barriers that keep consumers from buying insurance against natural catastrophes. Read more
European Council: EU long-term budget for 2021-2027
The European Council adopted three legislative acts related to the revision of the EU multiannual financial framework for 2021-2027, giving the final go-ahead for the package, which is aimed at reinforcing the EU long-term budget in a targeted way and addressing new challenges, such as the aftermath of Russia's war of aggression against Ukraine. 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.
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