EBF MORNING BRIEF Monday 20 March 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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THE EUROPEAN MONEY WEEK STARTS TODAY!
Amid the darkening economic outlook, ensuring individuals have the money management skills to understand what’s happening to them and around them remains a priority.
To put these skills in the spotlight, the European Banking Federation (EBF) has dedicated this year’s European Money Week, aligned with OECD-INFE Global Money Week, to the theme of ‘Financial skills: Lighting the path to a sound financial future’.
Tomorrow, join key experts, policymakers, and academics passionate about financial literacy at the launch event! |
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FROM THE MEDIA
Reuters: Bank lifelines fail to stem sell-off, ECB sees no contagion
Credit Suisse and First Republic Bank shares came under renewed pressure despite multibillion-dollar support deals, while a source said European Central Bank (ECB) supervisors see no contagion for eurozone banks from the turmoil. Supervisors were told deposits were stable across the eurozone and exposure to Credit Suisse was immaterial, a source familiar with the meeting's content told Reuters. Read more
The International Banker: 2023 European banks’ outlook
European banks will need to come to terms with a new economic environment in 2023. Even under the more negative scenarios, European banks should, on aggregate, remain broadly profitable, writes Nicolas Charnay, Senior Director, EMEA Financial Institutions Sector Lead, S&P Global Ratings in a piece published by The International Banker. Read more
CoinDesk: Former Belgian finance minister calls for crypto ban
Johan Van Overtveldt, a member of the European Parliament and former Belgian finance minister, called for a ban on crypto in the wake of banking sector turmoil in a tweet. As reported by CoinDesk, he compared crypto to drugs, saying that the assets were mere speculation with “no economic or social value.” Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
HUB: Celebration of the European Money Week
The Ministry of Finance, as the national coordinator of the Republic of Croatia in the field of financial literacy, announces the celebration of European Money Weeks in the period from March 20 to 26, 2023. As reported by the Croatian Association of Banks (HUB), during this period, public and private organizations collaborate to organize different activities, with an emphasis on young people. Read more (CZ)
SBA: Broadening of Swiss Finance Council
The Swiss Bankers Association (SBA) is joining the Swiss Finance Council (SFC). This will strengthen further the collaboration in representing the interests of internationally active Swiss banks and asset managers with EU stakeholders. Read more
Finance Norway: Following closely the developments of SVB collapse
The financial markets have had a troubled week following the collapse of the American Silicon Valley Bank (SVB). Norwegian banks are well capitalized and meet all the requirements that have been set, which provides security in a period of turmoil in the financial markets, says Finance Norway's managing director Kari Olrud. Read more (NO) |
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FROM THE INSTITUTIONS
ECB: Letter from the ECB President on climate change
The European Central Bank (ECB) President sent a letter to Ms. Henrike Hahn, Mr. Ernest Urtasun, and Mr. Rasmus Andresen, MEPs, on climate change. The ECB is convinced that all policymakers need to take appropriate measures within their respective mandates and areas of competence to address climate change. Read more
SRB: A new vision
As the Single Resolution Board (SRB) enters phase 2 of its existence, SRB Chair Dominique Laboureix shares his reasons for launching a strategic review of how the SRB works, which will feed into a new plan for Europe’s central, independent resolution authority. Read more
BIS: Central bank asset purchases in response to the Covid-19 crisis
Large-scale asset purchases by central banks in response to the Covid-19 pandemic were broadly successful in addressing disruptions in monetary policy transmission and providing additional stimulus. This report published by the Bank for International Settlements (BIS) examines the experience of central banks in many small and emerging market economies that conducted asset purchases for the first time during the Covid-19 crisis. 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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