EBF MORNING BRIEF Thursday 23 May 2024 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's Lagarde 'really confident' inflation under control
European Central Bank (ECB) President Christine Lagarde says she is "really confident" that eurozone inflation is under control as the impact of the energy crisis and supply-chain bottlenecks fade away. The ECB has all but promised a rate cut on June 6, so policymakers have shifted their attention to where rates will go thereafter, Reuters reports. Read more FT: Bank customers lose record amounts to purchase & romance scams UK banking customers lost a record amount of money last year to purchase and romance scams, according to new data from trade body UK Finance, âThe criminals who commit these crimes destroy lives and damage our society,â said Ben Donaldson, managing director for economic crime at UK Finance, according to the Financial Times (FT). Read more Risk.net: Fed needs to fix discount window op risk â ECB official Current and former central bank officials have called on the US Federal Reserve to fix operational issues around its discount window liquidity facility, following shortcomings exposed by last yearâs regional banking crisis. âWe seem to have a market failure there â banks are either unwilling or unable to make useâ of the discount window, said Luc Laeven, director-general of research at the European Central Bank (ECB). Read more |
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MAIN EVENTS
Thursday 23 May
Council Working Party on the Environment Friday 24 May Council Working Party on the Environment |
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THE SECOND 2024 BANKING ESSENTIALS WEBINAR Payback time: Assessing credit risk at Europe's banks in an uncertain climate Thursday, 13 June 2024 | 2:00 - 3:00 PM (CET) |
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European banks have enjoyed strong profits recently on the back of higher interest rates, but credit risk is increasingly in the spotlight. Consumers and businesses are struggling
with higher costs following the recent surge in inflation, putting pressure on loan repayments, while banksâ exposure to risky areas such as leveraged loans
and commercial real estate is a cause of concern for markets.
Join our panel as we discuss the current state of credit risk and asset quality
in Europe, how some economies have rid themselves of huge bad
loan burdens, and where things go from here.
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FROM EBF MEMBERS
BdB: Banking association demands: more Europe, less bureaucracy
The challenges of the digital and green transformation are enormous. For this reason, an economically strong, strategically independent Europe needs efficient banks and capital markets. "Europe is more important than ever. An open and democratic Europe is essential for our cohesion and our competitiveness in the world," says Heiner Herkenhoff, Managing Director of the Association of German Banks (BdB). Read more (DE)
Finance Latvia: Changes in level 2 pension
The Bank of Latvia has prepared several proposals for making changes in the regulation of the state-funded pension system. The changes envisage establishing risk and conflict of interest management requirements for managers of pension assets for investments in registered alternative investment funds, as well as reducing the permanent part of the payment for managers of pension savings. Read more (LAT)
Febelfin: Consumer loans for energy renovations experience downward trend in first quarter of the year
The Professional Credit Association, which represents 95% of the credit market in Belgium, analysed consumer credit figures for the first quarter of 2024. As Febelfin reports, in total, some 156,000 credits were granted in the first three months of this year, amounting to âŹ2.5 billion, a decrease in the number of new credit agreements of almost 17% compared to the same period last year. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: The ABCs of the ECBâs reaction function
Why do central banks mostly give their guidance for future monetary policy in qualitative terms rather than providing a numerical formula? The The European Central Bank (ECB) Blog takes a look through the lens of the âABCsâ of the ECBâs qualitative reaction function. Read more
ESMA: Recommendations for more effective capital markets in the EU
The European Securities and Markets Authority (ESMA) has published its Position Paper on âBuilding more effective and attractive capital markets in the EUâ, which includes recommendations to strengthen EU capital markets and address the needs of European citizens and businesses. Read more EC: Targeted consultation assessing the adequacy of macroprudential policies for NBFI The European Commission (EC) published a new consultation which aims at identifying the vulnerabilities & risks of non-bank financial intermediation (NBFI) and mapping the existing macroprudential framework, and seeks to gather feedback on current challenges to macroprudential supervision and discuss areas for further improvement. 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.
For questions or suggestions contact [email protected] European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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