EBF MORNING BRIEF      Wednesday 20 March 2024

FROM THE MEDIA

Bloomberg: ECB will have ‘far more data’ at June decision

European Central Bank (ECB) Vice President Luis de Guindos reiterated that he and his colleagues will have much more information to decide on interest rates when they meet in June. The ECB will have “far more data” to better evaluate its decisions in June, de Guindos said.“Market views are very optimistic that we will have a soft landing and that inflation will continue to fall,” he added. Read more

Reuters: Central banks use AI to assess climate-related risks

Central bankers said they have broken new ground by using artificial intelligence to collect data for assessing climate-related financial risks, just as the volume of disclosures from banks and other companies is set to rise. The Bank for International Settlements, the Bank of Spain, Germany's Bundesbank and the European Central Bank said their experimental Gaia AI project was used to analyse company disclosures on carbon emissions, green bond issuance and voluntary net-zero commitments. Read more

Enviromental Finance: Commission to delay review of GAR for banks

The European Commission is to postpone a review of the much-maligned Green Asset Ratio (GAR) reporting indicator for banks. According to Andrei Gurin, team leader of the European Commission’s Sustainable Finance Unit, responsible for EU taxonomy and reporting, speaking on a webinar hosted by the European Banking Federation (EBF). "We should look at something like 2025 for a proper review" he said. Read more

MAIN EVENTS

• European Parliament Committee on Economic and Monetary Affairs

• Council Working Party on the Environment

• House of Commons Treasury Committee: Oral evidence session on retail banks

FROM EBF MEMBERS

NVB: Dutch banks are in good shape

Dutch banks are in good shape and withstood the turmoil on the financial markets last year. Also, all measures taken since the financial crisis in 2008 have created more robust financial institutions and a more stable financial system. The Ministry of Finance writes this in the report 'Policy directions for a resilient banking sector', as the Dutch Banking Association (NVB) points out. Read more (NL)

FBF: New Chairman of the FBF Normandy Banking Committee

The Banking Committee of the French Banking Federation (FBF) Normandy has appointed Emmanuelle Jianoux as its new Chairman, succeeding Bruno Goré. The FBF Normandy Banking Committee brings together member banks based in the region. It relays the positions and actions of the FBF, the professional organisation representing all French and foreign banks established in France. Read more (FR)

Finance Denmark: Consultation response on the amendment of the Social Pension Act 

Finance Denmark has submitted a consultation response to the Danish Agency for Labour Market and Recruitment, and is pleased to note that the bill aims to equate pension contributions with the right of exclusion and deduction, respectively, in relation to income graduation of income-generating public benefits in the income years in which contributions are made to pension schemes. Read more (DK)

FROM THE INSTITUTIONS

ECB: Recent shocks, structural trends and productivity

The euro area economy has been hit by a series of shocks in recent years and is undergoing a structural transformation as a result of the digital and green transition. This European Central Bank (ECB) article explores how these shocks and ongoing structural trends, can influence medium-term productivity growth. Read more

EBA: Stepping up efforts to make banking industry data reporting more efficient

The European Central Bank (ECB) and the European Banking Authority (EBA) aim to harmonise and integrate data reporting by the banking industry with the goal of improving efficiency and reducing the associated costs. To this end, the two institutions established the Joint Bank Reporting Committee (JBRC), which is tasked with helping to develop common definitions and standards for the data that banks are required to report for statistical, supervisory and resolution purposes. Read more

SRB: European CFO Network - Speech by Dominique Laboureix

Dominique Laboureix, chairman of the Single Resolution Board (SRB), outlined how the new SRM strategy for the coming years will impact the work, what will happen to MREL in the future and shared some reflections on the lessons learnt from the recent turmoil. 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 Committee’s consultation on a Pillar 3 disclosure framework for climate-related financial risk

The EBF welcomes the opportunity to respond to the Basel Committee’s 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

EBF & S&P: Navigating the Green Asset Ratio (GAR)

In principle, the GAR is a simple ratio quantifying EU Taxonomy-aligned assets as a percentage of total covered assets; its primary objective is to help stakeholders understand financial undertakings’ contribution to European environmental and climate objectives. As banks disclose their GAR alignment for the first time, what does it tell us about their sustainability performance and efforts to finance the green transition? The recording of the webinar is now available. 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