EBF MORNING BRIEF Tuesday 19 March 2024 Good morning. Here are the top news stories and events in European banking, financial regulation and EU policy, brought to you by the European Banking Federation.
Recommend the EBF newsletters to a colleague. Click here to sign up!
|
|
|
FROM THE MEDIA
Bloomberg: ECBâs De Cos says first interest rate cut could come in June
European Central Bank (ECB) Governing Council member Pablo Hernandez de Cos stated he expects interest rates to be cut in June if inflation continues to moderate as anticipated. âThe announcement last week that we have completed our goal of getting inflation to 2% is compatible with a cut in interest rates soon, and that could probably happen in Juneâ said the Bank of Spain governor as reported by Bloomberg. Read more
FT: Europeâs top banking supervisor warns of tougher times ahead
European banks must brace themselves for rising insolvencies, greater geopolitical risks and upheaval in energy-intensive industries, the eurozoneâs new chief banking supervisor has warned. Claudia Buch, chair of the European Central Bankâs supervisory arm, said in an interview with the Financial Times (FT) that banks were ânot out of the woods yetâ despite emerging in what she said was a âgood positionâ after the Covid-19 pandemic and Russiaâs full-scale invasion of Ukraine. Read more
Reuters: Global inflation not yet defeated, BIS warns
Global inflation has more than halved in the past year and some central banks are already unwinding ultra tight policy in the hope they can preserve growth and keep their economies going after the back-to-back shocks of the pandemic and the inflation surge. "It seems that we are on route to a soft landing," AgustĂn Carstens, the General Manager of the Bank for International Settlements (BIS) said in a speech in Frankfurt according to Reuters. "Lower inflation has come at a remarkably small cost to the real economy." Read more |
|
MAIN EVENTS European Parliament Subcommittee on Tax Matters |
|
FROM EBF MEMBERS
Febelfin: Earning money following influencers' advice (isnât possible)
In a new campaign of Febelfin, influencers Jonathan Medart and Sami Farhat warn for the dangers of online investment fraud. From a luxury yacht or exclusive car, they urge their followers to follow their financial advice for several weeks. The promise? Those who follow this advice could become as rich as them in no time. Of course, the yacht and the car are rented and the promises are false as the tips of the many scammers active on social media. The real message? Do not follow your hero with money! Read more FBF: Children's financial and budgetary education To mark Financial Education Week, which runs from 18 to 22 March 2024, the French Banking Federation (FBF) is revealing the results of its barometer on financial and budgeting education, carried out over the last 6 years with Harris Interactive and involving 1,004 children aged 8 to 14. The results reveal children's buying habits, their relationship with money and changes in their behaviour. Read more (FR)
Finance Finland: EU membership is part of Finlandâs political and economic identity
This spring will be buzzing with interesting discussions and negotiations regarding the outlines of the next Commissionâs work programme and the priorities of the soon-to-be-elected MEPs. Finance Finland will be representing the Finnish financial sectorâs positions in this dialogue in both Finland and Brussels. Read more |
|
FROM THE INSTITUTIONS
ECB: Reducing the reporting burden on banks
The European Central Bank (ECB) and the European Banking Authority (EBA) signed a Memorandum of Understanding to establish the Joint Bank Reporting Committee, with the aim of harmonising and integrating statistical, supervisory and resolution data reporting in the banking industry. Read more
SRB: Welcoming plans by ECB and EBA to step up efforts to make banking industry data reporting more efficient
The Single Resolution Board (SRB) welcomes the news today that the European Central Bank and the European Banking Authority are to boost efforts to make banking industry data reporting more efficient. The aim is to harmonise and integrate data reporting by the banking industry to improve efficiency and cut the associated costs. Read more
BIS: Trust and macroeconomic stability: a virtuous circle
"Policymakers' success in dealing with recent crises was due in large part to the trust they had built over the years, which allowed them to take decisive action when required. But trust can be lost. That is why it is important for central banks to deliver price stability, fiscal policy to consolidate and supervisors and regulators to ensure financial stability", says AgustĂn Carstens, Bank for International Settlements (BIS) General Manager. Read more |
|
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
EBF welcomes plans by ECB and EBA to step up efforts to make banking industry data reporting more efficient
The EBF welcomes the announcement by the ECB and the EBA regarding the formal establishment of the Joint Bank Reporting Committee (JBRC) that will intensify the joint work towards achieving an integrated and standardized reporting framework in Europe helping to reduce the extensive reporting burden for banks and improving the quality of the data reported to the authorities. Read more
EBF Response to the Basel Committeeâs consultation on a Pillar 3 disclosure framework for climate-related financial risk
The EBF welcomes the opportunity to respond to the Basel Committeeâs consultation on a Pillar 3 disclosure framework for climate-related financial risk. The EBF recognize the critical importance of addressing climate-related risks within the financial sector while ensuring the stability and resilience of the global financial system. 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 |
|
This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v[email protected]
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
|
|
|
|
