EBF MORNING BRIEF Monday 10 July 2023 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.
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FROM THE MEDIA
Bloomberg: ECB won’t stand idly by if margins and wages rise
The European Central Bank (ECB) won’t hesitate to act if officials see a simultaneous uptick in both company margins and wages, President Christine Lagarde said. As reported by Bloomberg, the ECB chief’s comments precede a decision on July 27 that is all but certain to feature a quarter-point interest-rate increase. Read more
FT: Investment banks on carbon footprint of underwriting deals
Some of the world’s largest investment banks have been lobbying to exclude chunks of their underwriting activity from net-zero targets. Another source of tension has been whether to lump together decarbonization targets for underwriting and existing net zero goals for lending by sector, as proposed by some European banks, according to people familiar with the discussions heard by the Financial Times (FT). Read more
Reuters: Euro zone price pressures finally easing: ECB's de Guindos
Underlying inflation pressures, a key focus for the European Central Bank (ECB), are finally easing across the eurozone, Reuters writes. However, services price growth risks being sticky and keeping price growth high, ECB Vice President Luis de Guindos said. Read more |
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MAIN EVENTS Council Horizontal Working Party on Cyber Issues For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
AEB: Privacy, reliability and usability as challenges for the digital euro
The Spanish Institute of Banking and Finance has held a "Digital Euro: from purposes to reality" session moderated by the general director of the Spanish Banking Association (AEB), MarĂa Abascal. Experts agreed on the importance of minimizing the risks for financial stability and explaining well the possible advantages of its use for citizens. Read more (ES)
BdB: Inflation Reduction Act as a wake-up call for the EU
In August 2022, the US passed the Inflation Reduction Act (IRA), one of the most comprehensive legislative packages in the recent history of U.S. economic and fiscal policy. The result is extensive measures that go far beyond fighting inflation and put Europe under pressure to act, according to the Association of German Banks (BdB). Read more (DE)
Finance Latvia: Tips to avoid getting caught by fraudsters
Summer is the most active time for financial fraudsters as distracted and positive vacationers are much easier to lure into traps. What scammers' methods can we expect this summer and how can we protect ourselves? Finance Latvia answers. Read more (LAT) |
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FROM THE INSTITUTIONS
ECB: Inflation and economic growth
We still have work to do to bring inflation back down to our 2% target, European Central Bank (ECB) President Christine Lagarde says. A simultaneous rise in wages and firms’ profit margins would fuel inflation risks, and we would not stand idly by if that happen. Read more
ESMA: Rating data repository and latest data on CRA performance
The European Securities and Markets Authority (ESMA) revamped its Central Repository of Ratings (CEREP) and made available the latest set of semi-annual statistical data on the performance of credit ratings, including transition matrices and default rates. Read more
EC: Taxonomy Delegated Acts
The European Commission (EC) published the opening remarks by Commissioner McGuinness at the joint ECON/ENVI committee meeting on the Taxonomy Delegated Acts. "We need to assess where there are gaps, where there are user concerns so that we provide the support necessary to meet our targets on climate and biodiversity," she says. Read more |
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FROM THE EBF
EBF: Response to the ESRS consultation
The European Banking Federation (EBF) has responded to the European Commission’s consultation on the European Sustainability Reporting Standards (ESRS). Read more
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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