EBF MORNING BRIEF Tuesday 3 October 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: āLast mileā of disinflation the hardest, warns ECB deputy head
Luis de Guindos has dismissed talk of rate cuts by the European Central Bank (ECB) as āprematureā, warning that hurdles over āthe last mileā of bringing inflation back to the 2 percent target will be tough to overcome. De Guindos told the Financial Times (FT) that the ācrucialā factor determining its next move was the speed with which its policy tightening is transmitted from banks and bond markets to consumers and businesses. Read more
Bloomberg: Deutsche Bank regulator tightens oversight
German financial watchdog BaFin has tightened how it supervises Deutsche Bank after it failed to fix widespread shortcomings at its consumer unit quickly enough. According to Bloomberg, BaFin has appointed an independent monitor to oversee Deutsche Bankās progress in resolving the issues. Read more
Reuters: Top central banks' rate hike push fizzles out in September
Central banks across major developed economies delivered what looked like a last gasp set of rate hikes in September, while economies in both Latin America and emerging Europe were on track for continued easing. The U.S. Federal Reserve, the Bank of England as well as Australia, Canada, and Japan all opted for no change, Reuters data showed. Read more |
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MAIN EVENTS Joint meeting of the European Parliament Committee on Economic and Monetary Affairs, and the Committee on Budgets |
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FROM EBF MEMBERS
FBF: Cybersecurity: The French are aware of the sensitivity of their banking data but too little vigilant
As the European Cybersecurity Month begins, the French Banking Federation (FBF) publishes the results of the second edition of its study on the perceptions and behaviors of the French in terms of cybersecurity. Data shows that nearly 9 out of 10 French people consider their banking data sensitive, but they take fewer precautions against cyber risks. Read more (FR)
LBA: A Gateway to European Markets
Liechtenstein plays an outsized role on the world stage, offering innovative business and investment opportunities. As reported by the Liechtenstein Bankers Association (LBA), the country is highly industrialized with a healthy financial services sector. Read more (DE)
Finance Norway: Changes to the Working Environment Act
The Working Environment Act will change in several key areas from January 2024. Finance Norway provides an overview of the most important changes for employers. Read more (NO) |
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FROM THE INSTITUTIONS
ECB: The question of monetary policy transmission
"The transmission of our monetary policy to the real economy will be key to our future decisions," European Central Bank (ECB) Vice-President Luis de Guindos says. He adds: We need to see how strongly the tightening of financing conditions feeds through to the real economy and inflation. Read more
ESMA: Increase in use of ESG-related language in the EU fund industry
The European Securities and Markets Authority (ESMA) published an article exploring the use of language related to environmental, social, and governance (ESG) factors in EU investment fund names and documentation. Read more
EIOPA: Updated technical RFR documentation
The European Insurance and Occupational Pensions Authority (EIOPA) published updated technical documentation for calculating the risk-free interest rate term structures (RFR). The new date for the updated RFR to become applicable is set for 1 January 2024. Read more |
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FROM THE EBF EBF: Interview between Andrea Enria, Chair of the Supervisory Board of the ECB and Wim Mijs, EBF CEO The European Banking Federation (EBF) published the transcript of the interview with Andrea Enria, Chair of the Supervisory Board of the European Central Bank (ECB), conducted by Wim Mijs, CEO of the EBF. The interview took place on 28 September during the seventh edition of the Single Supervisory Mechanism (SSM) boardroom dialogue organized by the EBF. 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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