EBF MORNING BRIEF Monday 6 February 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: EU banks are profiting like itâs 2007; how long can it last?
European banks are reveling in their highest profits since before the financial crisis, benefiting from the unprecedented pace of rate increases thatâs driving a surge in lending income. But they have avoided increases in the share of bad loans. âOur 2022 results have been a record, with a very different year than was expected,â Ana Botin, Executive Chairman of Banco Santander said in an interview with Bloomberg. Read more
Reuters: ECB policymakers converging on end-point for rate hikes
According to Reuters, the European Central Bank (ECB)'s policymakers largely agree on how much more is needed to tame inflation. There appears to be little or no disagreement that rates will rise again in May, taking the deposit rate to at least 3.25% but possibly 3.5%. But there appears to be little appetite to go much further beyond that. Read more
The Banker: Digital Euro could be in circulation by 2027, ECB says
As reported by The Banker, the earliest possible issuance for a digital euro is 2027. With at least another four years to wait before a digital euro comes to fruition, some see more compelling use cases for âsyntheticâ or wholesale central bank digital currencies. 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 Finance Norway: Change of pace 2023 On 28 March, Finance Norway will host Financial Industry Day, its big annual conference exploring what authorities, the financial industry, and the rest of the business community must do to boost change. Read more (NO)
CBA: The share of non-performing loans is still very low
The demand for loans is weak, but the Czech banking sector is robust, according to data from the Czech Banking Association (CBA). Companies and households have more funds deposited in banks than they have borrowed and continue to repay well. Read more (CZ)
VĂB: ECB needs staying power
Commenting on the meeting of the Governing Council of the European Central Bank (ECB), Iris Bethge-KrauĂ, Chief Executive of the Association of German Public Banks (VĂB) said: "In view of an inflation rate that is far above target, another sharp interest rate hike of 50 basis points is the necessary step. Read more (DE) |
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FROM THE INSTITUTIONS ECB: Survey of Professional Forecasters for the first quarter of 2023 In the European Central Bankâs (ECB) Survey of Professional Forecasters (SPF) for the first quarter of 2023, respondents revised their inflation expectations for 2023 and 2024. Real GDP growth expectations are largely unchanged while unemployment rate expectations were revised down for all horizons by between 0.1 and 0.2 percentage points. Read more EIOPA: Monthly update of the symmetric adjustment of the equity capital charge for Solvency II âThe European Insurance and Occupational Pensions Authority (EIOPA) has published technical information on the symmetric adjustment of the equity capital charge for Solvency II with reference to the end of January 2023. Read more
ESMA: New Q&As available
The European Securities and Markets Authority (ESMA) has updated its Questions and Answers (Q&As) on the DLT Pilot Regulation, Prospectus Regulation as well as the application of the UCITS Directive. Read more |
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FROM THE EBF
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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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