📝EBF Morning Brief - Tuesday 25 March 2025: Sweden’s cashless U-turn driven by war threat, says central bank governor

EBF MORNING BRIEF Tuesday 25 March 2025

FROM THE MEDIA

The Banker: Sweden’s cashless U-turn driven by war threat, says central bank governor

Sweden is slowing its transition to a cashless society due to war concerns and geopolitical uncertainty, with Riksbank governor Erik Thedéen urging the banking sector to protect cash and support offline payments, reports The Banker. Read more.

Bloomberg: The UK Can Cut Its Bloated Borrowing Costs. Here’s How

Bloomberg argues the UK could reduce borrowing costs by shortening gilt maturities and repurchasing long-dated bonds, while rethinking its debt management strategy under Rachel Reeves. Read more.

MLex: Banks see fresh rules on non-EU countries' regulatory frameworks

The European Banking Authority has introduced a new two-step methodology to assess the equivalence of non-EU regulatory regimes, following changes to EU capital rules, reports MLex. Read more.

MAIN EVENTS

European Banking Authority: Board of Supervisors meeting

ECB: Monthly indicators on government debt securities (Feb. 2025) – data release

European Internet Forum ‘AI and Connectivity: empowering AI and empowering networks’ debate

FROM THE EBF

We celebrated the 11th edition of European Money Week last week

We brought together experts, policymakers, and educators for key discussions on advancing financial education across Europe. This year’s theme "From Financial Literacy to European Legacy: Building Financially Resilient Generations" underscored the vital role of financial literacy in ensuring a stronger financial future for all, particularly in times of economic uncertainty. Read more

EBF Press Release - Savings and Investments Union: The Path to Strengthening Europe’s Financial Future

The EBF welcomes the Communication on the Savings and Investments Union (SIU) by the European Commission on the 19th of March, a key step toward fostering sustainable and inclusive economic growth, competitiveness, and boosting vital financing for defence. By deepening capital markets and improving access to finance, the SIU can help ensure that European citizens, businesses, and households benefit from a stronger, more dynamic financial ecosystem. Read more.

New EBF Vacancy! Work with us!

Visit our Vacancies page to learn more about the opening. Read more

EBF Response to European Commission’s Call for Evidence on the Savings and Investments Union

The EBF welcomes the opportunity to contribute to the European Commission’s consultation on the Savings and Investment Union (SIU). By integrating the Banking Union and the Capital Markets Union, the SIU aims to strengthen Europe’s financial ecosystem and foster a more dynamic and resilient economy. Read more.

Recording and slides available! Exploring Basel III/IV: Scenarios for Financial Stability and Growth - March 5 at 4 PM

The implementation of the Basel III/IV capital reforms has become a political issue while banks are in the final straight. The balance between financial stability and competitiveness has taken over priority at a time when international relationships are being redefined. The US administration is re-evaluating its approach to the reforms, while, the UK has postponed the start of their adoption to 2027. Recording and slides here.

FROM EBF MEMBERS

Finance Denmark: The Financial Sector Is a Key Partner in Securing Billion-Euro Investments in EU Security, Competitiveness, and the Green Transition

Finance Denmark emphasizes the role of the financial sector in enabling strategic investments across the EU, supporting security, competitiveness, and the green agenda. Read more (DA).

Croatian Banking Association: “Finance for New Generations” Conference Held – Saving Habits Start Early

HUB hosted a national conference highlighting the importance of financial education from a young age, encouraging early savings habits and stronger financial literacy. Read more (HR).

Portuguese Banking Association: APB Marked Financial Literacy Week 2025 with Several Initiatives

APB celebrated Financial Literacy Week with a variety of initiatives across Portugal, promoting responsible financial habits and inclusion. Read more (PT).

FROM THE INSTITUTIONS

​Council of the European Union: Council adopts financial benchmarks regulation to ease burden on SMEs

The Council has adopted new rules to simplify the use of financial benchmarks, aiming to reduce compliance costs for SMEs and improve access to financing. Read more.

European Central Bank: Interview with Piero Cipollone – 24 March 2025

ECB Executive Board member Piero Cipollone discusses the outlook for interest rates, inflation, economic uncertainty, and the strategic importance of the digital euro for Europe’s financial sovereignty. Read more.

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

European Banking Federation