EBF MORNING BRIEF Monday 16 October 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
Reuters: ECB policymakers eye springtime push to cut payments on banks' deposits, sources say
European Central Bank (ECB) policymakers are planning a springtime push to cut interest payments made to commercial banks to recoup some of the costs associated with a decade's worth of stimulus, sources familiar with discussions heard by Reuters said. Some have also been pushing for an increase in the minimum reserve ratio. Read more
The Banker: Why European banks can better withstand interest rate risks than their US peers
Experts say different supervisory approaches mean mid-size US banks are still vulnerable to interest rate risk, while European banks remain relatively safe. But banks should set aside more capital to ensure a more resilient system, The Banker writes. Read more
Bloomberg: Lagarde says ECB ‘ready to do more if necessary’
European Central Bank (ECB) President Christine Lagarde said officials are gauging the impact of prior moves that are still feeding through and will raise interest rates again if they have to. As reported by Bloomberg, Lagarde said: “Our aim, our mission, is to return inflation to 2% medium term and we will, and it is happening as we speak”. Read more |
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MAIN EVENTS -
Council Horizontal Working Party on Cyber Issues -
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Single Resolution Board (SRB) and European Central Bank (ECB) CMDI Seminar -
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FROM EBF MEMBERS
BdB: Stronger banks and financial markets key for sustainable change
At this year's annual IMF and World Bank meeting, bank president Christian Sewing stressed how important financial markets are for sustainable economic change. "The financial sector wants to and can make an important contribution to the success of the transformation but the framework conditions must be right for this to happen," Sewing said, as reported by the Association of German Banks (BdB). Read more (DE)
BPFI: Payments Monitor
The latest BPFI Payments Monitor from Banking & Payments Federation Ireland (BPFI) reveals that online and mobile banking payments grew by 4%. Read more
AEB: Agreement to promote the digital knowledge of older people
The agreement between the Fundación Telefónica and the Spanish Banking Association (AEB) will allow for the joint development of financial training content and actions with the aim of connecting older people with the opportunities of the digital age. Read more (ES) |
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FROM THE INSTITUTIONS
ESMA: Extension of temporary CCP collateral emergency measures
The European Securities and Markets Authority (ESMA) has extended for a limited period of six months the emergency measures which temporarily expand the pool of eligible collateral for all types of counterparties. Read more
BIS: Crypto-assets regulation - from patchwork to framework
Steven Maijoor, Executive Director of Supervision of the Netherlands Bank discussed the opportunities and challenges of crypto-assets. In the speech published by the Bank for International Settlements (BIS), he underlines the need for a global regulatory and supervisory baseline to oversee crypto-asset activities. Read more
EC: G7 Guiding Principles on Generative Artificial Intelligence
The European Commission (EC) launched a stakeholder survey on draft International Guiding Principles for organizations developing advanced AI systems. On this basis, G7 members aim to compile a Code of Conduct to provide guidance to organizations. 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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