📝EBF Morning Brief 25/6: Spain blocks BBVA merge with Sabadell, new VÖB position paper, BIS on next-generation monetary system, and more updates

EBF MORNING BRIEF Wednesday 25 June 2025

FROM THE MEDIA

Financial Times: Spain blocks BBVA from merging with Sabadell for at least three years

The Spanish government has imposed a three-year restriction on BBVA’s merger with Sabadell, even if its hostile takeover bid succeeds, citing the need for operational autonomy. BBVA’s chair has called the measure “illegal,” raising the prospect of legal confrontation with Madrid. Read more

Politico Europe: German finance minister says he’s ‘confident’ fiscal expansion won’t run afoul of EU rules

Germany’s finance minister Lars Klingbeil defended record post-austerity borrowing and €86bn in defense spending, expressing confidence that it complies with EU deficit rules despite ongoing talks with the Commission. Read more

The Banker: More lay-offs likely as Santander UK outsources financial crime team to KPMG

Santander UK will transfer 67 financial crime roles to KPMG, with the latter planning to move jobs overseas. The CWU union warned of weakened service standards and called for core banking functions to remain in-house. Read more

Risk.net: Bank of England urged to rethink HHI concentration risk add-on

UK banks have urged the BoE to revise its use of the Herfindahl-Hirschman Index in assessing credit concentration risk under Pillar 2A, with critics arguing the methodology overlooks key risk dimensions. Read more

MAIN EVENTS

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

Swiss National Bank: Quarterly Bulletin 2/2025 (Report and SNB data portal) – data release

Governing Council of the ECB: non-monetary policy meeting

Coreper II ‘Informal Permanent Representatives Committee’ – meeting

Coreper I – meeting

Amazon Academy ‘Strengthening Consumer Trust in the Single Market’ event

Bank of England: ‘Transforming monetary policy – How should we think about uncertainty and risks?’ Conference

Bruegel ‘AI and the energy sector: navigating a two-way transformation’ Seminar

European Parliament ‘Committee on Security and Defence’ Ordinary meeting

WTO ‘Committee on Technical Barriers to Trade’ Meeting

ECB ‘General Council meeting’

FROM THE EBF

EBF Vacancies! Work with us!

Visit our Vacancies page to learn more about the opening. Read more

FROM EBF MEMBERS

Association of Public Banks in Germany: Promoting Practical IT Requirements for Security and Resilience

In its new position paper, VÖB calls for improvements to the regulatory framework established by DORA, CRA, and NIS2, arguing for better law-making processes and clearer delegated acts to enhance cyber resilience in the financial sector. Read more (DE)

Luxembourg Bankers’ Association: Reinforcing investor protection – New edition of ABBL’s MiFID II Guidelines

ABBL has published an updated version of its MiFID II guidelines to enhance investor protection, offering detailed insights and clarifications for the financial sector. Read more

Czech Banking Association: CBA’s tips – How to pay smart, advantageously and above all safely, even on holiday abroad

The Czech Banking Association shares practical tips for secure and efficient payments while travelling, including advice on card use, exchange rates, and digital tools. Read more (CS)

Swiss Bankers Association: Financing options for Switzerland’s nature transition

The Swiss Bankers Association presents financing solutions to support Switzerland’s shift towards nature protection and sustainability, emphasizing the role of private capital. Read more

FROM THE INSTITUTIONS

European Central Bank: Consolidated financial statement of the Eurosystem as at 20 June 2025

The Eurosystem’s net foreign currency position slightly decreased to €342.5 billion. Open market operations and standing facilities fell by €31.4 billion, while base money increased to €4,464.9 billion. Read more

Bank for International Settlements: III. The next-generation monetary and financial system

Tokenisation could transform the monetary system by improving cross-border payments and market infrastructure. BIS argues only central bank-based tokenised platforms can meet standards of singleness, elasticity, and integrity, unlike stablecoins. 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