EBF MORNING BRIEF Monday 6 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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FROM THE MEDIA
Bloomberg: ECB half-point March rate hike very likely, Lagarde says
European Central Bank (ECB) is set to raise borrowing costs by another half point in its March decision, according to President Christine Lagarde. What happens beyond March 16, is however less certain, Bloomberg writes. Read more
Reuters: Hungary rejects call by banks to undo reserve policy change
Hungary's central bank 'firmly rejected' calls by Hungary's Banking Association to undo a change in reserve policy, which lenders say could stifle lending. As reported by Reuters, the call comes just two days after Prime Minister Viktor Orban's top economic aide piled pressure on the bank to start lowering borrowing costs. Read more
FT: UK women less bullish than men about finances, survey finds
Women are suffering a decline in financial confidence at more than double the rate of men, a survey by Fidelity International finds. According to the Financial Times (FT), the rising cost of living and drops in income have all fed into falling confidence. Read more |
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ONE WEEK TO REGISTER Staying strong in volatile markets: How banks can overcome challenges to funding and lending Tuesday 14 March, 2023 || 3:30 – 4:15 PM CET Banks in Europe today must navigate a new environment of rising interest rates, changing customer priorities, and recession risk. Smart management of lenders’ funding needs and lending profiles is essential if they are to remain profitable and competitive.
Next week, join our panel of experts as they explore what the market will be watching for and how banks can react to fast-moving geopolitical events and regulatory changes. |
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FROM EBF MEMBERS
Febelfin: Constructive dialogue with government
Digital payments have become well-established in recent years and cash use is declining. However, sufficient access to cash is still a key objective and concern for the financial sector. Febelfin is currently in a dialogue with the government and regulator to see where possible further optimization in terms of access to ATMs is possible. Read more (NL) Finance Denmark: Most savings accounts owned by young people 67,000 Danes between the ages of 18 and 29 have an equity savings account, meaning that young people own 24 percent of all equity savings accounts. According to Finance Denmark, this suggests that the simple tax scheme rules represent an advantage for new and less experienced investors. Read more (DK)
UK Finance: A new data-driven approach will impact regulated firms
The Financial Conduct Authority (FCA) indicated that it had begun rolling out a SupTech new analytics-based tool to test the effectiveness of firms’ automated sanctions screening systems. UK Finance discusses what's new and how to prepare for the changes. Read more |
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FROM THE INSTITUTIONS
ECB: Too early to declare victory against inflation
'Our goal is to tame inflation, and interest rate hikes are our main tool to achieve that,' European Central Bank (ECB) President Christine Lagarde tells Spain’s Grupo Vocento. The ECB is making progress, but there is still work to do. Read more
EIOPA: Technical advice for the review of the IORP II Directive
The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation on draft technical advice for the review of the IORP II Directive. The draft advice aims to ensure that the regulatory framework is updated to embrace the shift from defined benefits to defined contributions and the challenges of climate change. Read more
BIS: Greenhouse gas emissions and bank lending
Using more than 10 years of loan data for listed firms and banks, the Bank for International Settlements (BIS) investigates whether the greenhouse gas (GHG) emissions of borrowing firms have affected bank lending to these firms. In particular, they focus on the varied behavior across banks with different financial characteristics. 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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This newsletter is published by the EBF Mediacentre.
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