EBF MORNING BRIEF Tuesday 9 May 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
Reuters: Euro zone inflation will slow but momentum still high
Eurozone inflation will slow sharply this year but price growth momentum remains high, including for underlying goods and services. This is what European Central Bank (ECB) chief economist Philip Lane said, as heard by Reuters. Read more
FT: Former BoE deputy calls for radical overhaul of bank funding
Former Bank of England (BoE) deputy governor Paul Tucker called for a radical overhaul of how banks are funded. He told the Financial Times (FT) that central banks should act to prevent bank runs by requiring lenders to keep enough collateral with central banks so they could honor demands for 100 percent of their short-term deposits in a single day. Read more
Bloomberg: Crucial EU-court ruling on polish legacy loans set for June
The EU top court will rule next month in a case over Swiss-franc mortgages that threatens to increase legacy lending costs for Polish banks. The date announcement, coupled with a potential extension of loan moratoriums, is “likely to make investors more cautious” over the country’s banking stocks in the coming weeks, Bloomberg reports. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS LBA: OECD Model Regulations on the Global Minimum Tax As reported by the Liechtenstein Bankers Association (LBA), Liechtenstein has committed to implementing the global OECD minimum taxation. A new law on the minimum taxation of large groups of companies (GloBE law) will thus come into force. Read more (DE)
AEB: Would you leave your house keys to a stranger?
In an increasingly digital society, passwords are key to protecting our information. On the occasion of World Password Day, the Spanish Banking Association (AEB) shares tips for a strong and secure password. Read more (ES)
Finance Latvia: Payment cards to incorporate functionality for people with visual impairments and be produced from recycled plastic
Swedbank is starting to issue payment cards made of 100% recycled plastic, Finance Latvia writes. At the same time, new functionality has been added to allow people with visual impairments to distinguish credit cards from debit cards and understand how to correctly insert the card into an ATM or payment terminal. Read more (LAT) |
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FROM THE INSTITUTIONS
ECB: Inflation and monetary policy
The European Central Bank (ECB) has published a set of slides by Philip R. Lane, a Member of the ECB Executive Board on inflation in the eurozone and monetary policy. Lane said that the ECB will continue to follow a data-dependent approach to determining the appropriate level and duration of the restriction. Read more
SRB: Commission Delegated Regulation applies from 9 May
On 9 May 2023, the Commission Delegated Regulation (EU) 2023/827 governing prior permissions to redeem eligible liabilities instruments enters into force. The Regulation will apply to all applications filed after 9 May and does not affect permission decisions already granted by the Single Resolution Board (SRB). Read more
EC: The European Cybersecurity Competence Centre opens
The European Commission (EC) announces that the European Cybersecurity Competence Centre, aimed at supporting innovation and industrial policy in cybersecurity as well as developing and coordinating EU cybersecurity projects, will launch its new headquarters in Bucharest, Romania. 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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