EBF MORNING BRIEF Thursday 18 January 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 Panetta says liquidity must be focus of attention
Competition for liquidity among eurozone banks will increase and lenders cannot expect to be able to all boost deposits at once as their funding plans indicate, European Central Bank (ECB) Governing Council member Fabio Panetta said. According to Reuters, he warned bankers against complacency in a situation in which higher rates have led to strong earnings without driving borrowers' default rates up significantly. Read more
Bloomberg: ECB’s Knot says inequality heightens need to fight inflation
Consumer prices are a main driver of inequity, which is why fighting inflation is so important, according to European Central Bank (ECB) Governing Council member Klaas Knot. “This is a continuous issue for debate, but I keep on saying that inflation is one of the biggest income unequalizers of society, let’s not fool ourselves,” he told a Davos panel chaired by a Bloomberg journalist. Read more
FT: Stocks drop as ECB and UK inflation puncture rate cut hopes
Global stocks and bond markets retreated as investors scaled back expectations of swift interest rate cuts in the eurozone. The worldwide sell-off came after European Central Bank (ECB) president Christine Lagarde signaled that borrowing costs would come down in summer rather than spring, the Financial Times (FT) reports. Read more |
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MAIN EVENTS Thursday 18 January Friday 19 January |
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EBF Tax Conference 2024 “Banks as Taxpayers and as Auxiliaries
to Tax Authorities in the Digital Era”
23 January 2024, 09:30 – 16:30 CET
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 | In collaboration with Deloitte, EY, KPMG, and PwC, we are pleased to invite you to the forthcoming Tax Conference on Banks as Taxpayers and as Auxiliaries to Authorities in the Digital Era. Leveraging the expertise of distinguished panelists and moderators, including top EU and international policymakers, as well as industry experts, the conference will explore the role of banks in tax processes in the digital era and discuss pertinent policy questions ahead of the next EU legislature.
The conference will be held exclusively in person.
Only a few spots left!
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FROM EBF MEMBERS
ABBL: MIFIR: EC consults on unique product identifier
The European Commission (EC) launched the MiFIR/MiFID II Review at the end of 2021 to improve the EU's competitiveness in the business world. As reported by the Luxembourg Bankers Association (ABBL), a key point of discussion is the selection of an OTC derivatives identifier to enhance market price transparency, with the Commission seeking input on this matter and the potential reporting of additional reference data. Read more
Febelfin: Asset Management for a prosperous and sustainable future
BEAMA has drafted a vision document that will set the direction of the asset management sector in Belgium for the next 3 years. Febelfin invites all its partners to join BEAMA in shaping the future of asset management in Belgium. Read more
UK Finance: Financial crime trends for 2024 every bank should know
As reported by UK Finance, ComplyAdvantage published its State of Financial Crime report. Based on a survey of 600 financial crime decision-makers worldwide, they provide an overview of the trends and challenges that will affect future compliance. Read more |
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FROM THE INSTITUTIONS
ECB: Cyber resilience of financial infrastructures
"Our financial system is only as strong as its weakest link," says European Central Bank (ECB) Executive Board member Piero Cipollone. In an environment of growing cyber threats, cybersecurity is a common good. "We must stay one step ahead of attackers, take a system-wide approach, and keep working together," he adds. Read more
ESAs: First set of rules under DORA for ICT and third-party risk management and incident classification
The three European Supervisory Authorities (ESAs) published the first set of final draft technical standards under the Digital Operational Resilience Act (DORA) aimed at enhancing the digital operational resilience of the EU financial sector by strengthening financial entities’ Information and Communication Technology (ICT) and third-party risk management and incident reporting frameworks. Read more
EIOPA: Report on sanctions under the IDD in 2022
The European Insurance and Occupational Pensions Authority (EIOPA) published its fourth annual report on administrative sanctions and other measures imposed during 2022 by national competent authorities under the Insurance Distribution Directive (IDD). Read more |
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FROM THE EBF
EBF: Understanding Credit Scoring: Techniques and Distinction from Artificial Intelligence
The European Baking Federation (EBF) has published a joint industry statement regarding the definition of artificial intelligence in the Artificial Intelligence Act. The associations co-signing this statement emphasize the necessity for amending the relevant recital on AI systems, to ensure legal clarity and distinguish between AI and traditional techniques when the latter are used in isolation. 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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