EBF MORNING BRIEF Tuesday 11 July 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
Bloomberg: ECB faces hard job judging when to stop hiking
The European Central Bank (ECB) faces a tough job deciding when to stop raising interest rates because it’s hard to gauge the impact of tightening. This is what Clare Lombardelli, Chief economist of the Organization for Economic Cooperation and Development (OECD) said to Bloomberg. Read more
FT: Banks rush to lock in cheap funding with sales of ultra-safe debt
Banks sold a record amount of ultra-safe mortgage-backed debt in the first half of 2023, rushing to lock in a cheap source of funding during a turbulent period. The flurry of issuance has also been fuelled by the winding down of pandemic-era support from central banks for debt markets and the banking sector, the Financial Times (FT) reports. Read more
Finextra: Central bank interest in CBDCs shows no sign of waning
The exploration by central banks into digital currencies shows no sign of cooling, with 15 retail and nine wholesale CBDCs expected to enter circulation by the end of the decade, according to Finextra. Read more |
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MAIN EVENTS -
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Council Working Party on Tax Questions (Direct Taxation) -
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Council Trade Policy Committee — Experts (Services and Investment) -
For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS Finance Denmark: Property Registration Act and the Subdivision Act Finance Denmark supports the content of the Property Registration Act and the Subdivision Act. However, there is a need to determine whether further measures are necessary to ensure that the rules on enforcement and the rules on temporary takeover of a company's operations apply in Denmark's exclusive economic zone. Read more (DK)
ABI: New ABI memorandum on mortgages The Italian Banking Association (ABI) announces a new Memorandum on the issues resulting from variable-rate mortgages and the growth in interest rates. The ABI indicates the possibilities available today for families to reduce the impact of the rise in interest rates on variable-rate mortgages. Read more (IT) UK Finance: Accessible, inclusive banking for a Digital Age Ernst Young (EY) and UK Finance created a series of forums to explore the accessibility barriers within the banking and financial services industry. Industry collaboration to prioritize accessibility provides benefits to both banks and customers. Read more |
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FROM THE INSTITUTIONS ECB: Surveys Europeans on new themes for euro banknotes The European Central Bank (ECB) is asking European citizens about their views on the proposed themes for the next series of euro banknotes. From 10 July until 31 August 2023 everybody in the euro area can respond to a survey on the ECB’s website. Read more ESMA: New Manual on post-trade transparency available The European Securities and Markets Authority (ESMA) publishes its Manual on post-trade transparency. This manual provides market participants and competent authorities with guidance on how to apply the relevant MiFIR obligations in a consistent manner. Read more
EIOPA: Consultation on supervisory expectations regarding the supervision of reinsurance concluded with third-country reinsurers
The European Insurance and Occupational Pensions Authority (EIOPA) launched a public consultation on its supervisory statement on the supervision of reinsurance concluded with third-country reinsurers. Read more |
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FROM THE EBF
New EBF Vacancies! Work with us!
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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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