EBF MORNING BRIEF Thursday 7 December 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
FT: Investors bet on rapid ECB rate cuts as economic outlook darkens
Investors are betting that the European Central Bank (ECB) will lead the way among big central banks in cutting interest rates next year, in a sign that many money managers think officials have already raised rates too far in their battle to tame inflation. The shift in expectations reflects a recent easing in inflation, the Financial Times (FT) says. Read more
Finextra: BoE to review AI risk to financial stability
The Bank of England (BoE) is launching a review of artificial intelligence and machine learning amid concerns that its use could pose financial stability risks. According to Finextra, the BoE says AI and ML could deliver significant benefits to the UK financial services sector, by driving greater operational efficiency, improving risk management, and providing new products and services. Read more
Bloomberg: European banks talking green tend to lend brown
The more European banks talk about initiatives to support the environment, the more they tend to back carbon-intense firms, according to the European Central Bank (ECB). As reported by Bloomberg, the discrepancies between banks’ climate disclosures and lending practices are due to their reluctance to disrupt established business relationships. Read more |
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MAIN EVENTS
Thursday 7 December
Council Horizontal Working Party on Cyber Issues
Friday 8 December
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FROM EBF MEMBERS
Febelfin: Money mules: youngsters targeted by recruiters
A recent survey conducted by Febelfin shows a worrying trend among young people in Belgium, highlighting their growing vulnerability to becoming financial mules. Being aware of the dangers of this phenomenon, Febelfin is committed to raising awareness by offering a dedicated roadshow in schools and free educational materials. Read more (FR)
SBA: Welcomes SEK as an associate member
The Board of the Swedish Bankers' Association (SBA) has granted Svensk Exportkredit (SEK) associate membership in the Bankers' Association as of 1 January 2024. The SBA is no longer an association only for banks, as it has opened the door for credit market companies, savings banks, and member banks to become associate members. Read more (SE)
Finance Latvia: The new levy on banks is a dubious gift, not a real help
Finance Latvia disagrees with the imposition of the mortgage borrower protection levy as it contradicts the principles of good law-making and proportionality. The operation of the levy has been technically improved, but the different options considered in each reading have not been designed to help those in need. Read more (LAT) |
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FROM THE INSTITUTIONS
ECB: Macroprudential Bulletin
In the latest Macroprudential Bulletin, the European Central Bank (ECB) looks at current topics in EU banking regulation: from resolution frameworks to implementing Basel III, and from crisis management to window dressing. Read more
EIOPA: New method to calculate the Credit Risk Adjustment
The European Insurance and Occupational Pensions Authority (EIOPA) published an example of the new method to calculate the Credit Risk Adjustment (CRA) for “situation 3” according to paragraphs 7.3.8. Read more
EP: Deal on changes improving resolution framework for EU banks
The Economic and Monetary Affairs Committee of the European Parliament (EP) negotiators struck a deal with the Council on targeted changes to the so-called “Daisy Chain” proposal. The EP team focused on ensuring proportionality and a level playing field between banks and making sure that the rules would not increase administrative burden. Read more |
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FROM THE EBF
EBF calls for a fitness check on sustainable finance framework
The reporting of ESG information as such is relatively new but early experience shows the implementation and operational challenges not only with the data collection, analysis, monitoring, and control for which massive investments in IT and operational processes were necessary but also the need for simplification given that the Sustainable Finance (SF) Framework has become excessively complex, inconsistent and difficult to apply. Read more
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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