EBF MORNING BRIEF Monday 27 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
Reuters: ECB reassures on bank stability, calls for EU deposit insurance
The European Central Bank (ECB) reassured EU leaders that eurozone banks were safe but called on them to push on with an EU deposit insurance scheme, officials heard by Reuters said. ECB head Christine Lagarde called for a Capital Markets Union in Europe for better access to funds as companies have to compete with China and the US in "green" technologies to fight climate change. Read more
Bloomberg: ECB’s Nagel signals more hiking and holding at high rate
The European Central Bank (ECB) will need to continue raising interest rates and then should keep them at a high level, according to Bundesbank President Joachim Nagel. As reported by Bloomberg, the German central bank chief also reiterated calls to speed up the pace of quantitative tightening in the third quarter. Read more
FT: Top regulator urges tighter rules for global financial system
Pablo Hernández de Cos, Chair of the Basel Committee on Banking Supervision has called for tighter rules to clamp down on risks spreading from shadow banks to other parts of the banking system. He said a second area “that could potentially benefit from further global work” were the limits on mortgage lending, the Financial Times (FT) reports. Read more |
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MAIN EVENTS Council Working Party on Tax Questions - Indirect Taxation UK in a Changing Europe ‘Lunch Hour’ economics panel For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
AEB: In Spain, there cannot be a banking crisis like the one in the US
Spanish banks are safe and that will not suffer contagion from the crises caused by Silicon Valley Bank and Credit Suisse. Alejandra Kindelán, President of the Spanish Banking Association (AEB) argues that in Spain management is better, business models are safer, balance sheets are stronger and supervisors are stricter. Read more (ES)
NVB: Reduction of inequality and climate action go hand in hand
The Dutch Banking Association (NVB) has asked seven questions to Carrie Walczak, secretary of the Climate Action Plan of the Dutch Financing Company for Developing Countries (FMO). 'Decent work, reduction of inequality, and climate action go hand in hand for us,' she says. Read more (NL)
FBF: Latest figures on personal loans
In total, loans to individuals reached 1,512 billion euros at the end of January 2023, up 4.9% over one year. As stated by the French Banking Federation (FBF), the French fixed-rate mortgage loan model (96% of production in January 2023 ) protects borrowers against rising rates. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: How green is our balance sheet?
For the first time, the European Central Bank (ECB) is disclosing the carbon footprint of its financial asset holdings. In an ECB Blog, Executive Board members Frank Elderson and Isabel Schnabel review the progress made and look at how to ensure we are in line with the goals of the Paris Agreement. Read more
BIS: Current challenges facing the European Monetary Union
Joachim Nagel, President of the Deutsche Bundesbank, sheds light on current economic developments in a speech published by the Bank for International Settlements (BIS). In his intervention, he comments on inflation and monetary policy and focuses on fiscal developments and the discussion surrounding fiscal rules. Read more SRB: Cooperation with Australia, Argentina, and New Zealand The Single Resolution Board (SRB) has reached Cooperation Arrangements with the Australian Prudential Regulation Authority (APRA), the Central Bank of the Argentine Republic (BCRA), and the Reserve Bank of New Zealand. The arrangements focus on the exchange of information and cooperation related to bank resolution planning, and how that is implemented for banks with cross-border operations. 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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