EBF MORNING BRIEF Thursday 16 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.
Recommend the EBF newsletters to a colleague. Click here to sign up!
|
|
|
FROM THE MEDIA Bloomberg: EU banks in good shape despite SVB collapse The EU banking sector is in “overall good shape” and there are “no immediate parallels” with the collapse of the Silicon Valley Bank, Mairead McGuinness said. McGuinness added that the EU still needs a more effective crisis management toolbox for the banking sector to protect deposit confidence, financial stability, and taxpayers, Bloomberg reports. Read more
FT: EU speed up work on rules for failing banks in response to US crisis
The US banking crisis has added urgency to EU plans for tightening rules on dealing with failing lenders, according to senior Brussels policymakers. The collapse of Silicon Valley Bank in the US “underscores the importance of Europe continuing to make progress on banking union”, Paschal Donohoe, president of the Eurogroup of eurozone finance ministers, told the Financial Times (FT). Read more
Reuters: ECB likely to stick to big rate hike despite banking turmoil
As reported by Reuters, European Central Bank (ECB) policymakers are leaning towards a half-percentage-point rate hike on Thursday, as the banking sector turmoil is dissipating, the economy is picking up strength and inflation is set to remain too high for years. Read more |
|
MAIN EVENTS Thursday 16 March
Friday 17 March
Council Horizontal Working Party on Cyber Issues |
|
COMING NEXT TUESDAY EUROPEAN MONEY WEEK 2023 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’. Join key experts, policymakers, and academics passionate about financial literacy at the launch event on Tuesday, 21 March! |
|
FROM EBF MEMBERS CBA: Interest rate dropped to 5.90% According to the Hypomonitor for February 2023 by the Czech Banking Association (CBA), the volume of mortgages granted increased by a fifth in February with the year-on-year drop remaining significant. Besides, the interest rate fell to 5.9%. Read more (CZ)
UK Finance: 2023 will deliver positive consumer outcomes
Emerging from the turbulent mortgage market in 2022 into a calmer start for 2023 will be a welcome reprieve for many lenders, conveyancers, and brokers. As reported by UK Finance, lessons learned have created a greater drive toward improving the market. Read more
SBA: White paper on the digital Swiss franc
The Swiss Bankers Association (SBA) has published a white paper on the digital Swiss franc, where it outlines variants of a tokenized scriptural currency available on the blockchain. Issued by regulated banks, it could greatly contribute to Switzerland's future competitiveness and capacity for innovation, as well as to its sovereignty. Read more (FR) |
|
FROM THE INSTITUTIONS BIS: Impact of ECB monetary policy and outlook for Cyprus economy Constantinos Herodotou, Governor of the Central Bank of Cyprus, spoke about inflation by comparing the euro area with the US. In the speech published by the Bank for International Settlements (BIS), he also discussed Cyprus economy, focusing on the reasons that kept our economy strong and the factors that will help safeguard its future path. Read more
EC: General Report 2022
The European Commission (EC) published the 2022 EU General Report. The report presents the key activities of the EU in 2022, with a strong focus on the EU's response to Russia's war of aggression against Ukraine and its unwavering solidarity with Ukraine. Read more
EP: Data Act: New rules for fair access to and use of industrial data
The Data Act aims to boost innovation by removing barriers obstructing access by consumers and businesses to data. The draft legislation adopted in the European Parliament (EP) would contribute to the development of new services, including artificial intelligence, and clarifies who can access data and on what terms. Read more |
|
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 |
|
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 |
|
This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v[email protected]
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
|
|
|
|
