EBF MORNING BRIEF Wednesday 10 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
Bloomberg: EU banks face tougher supervision than many in US
European banks are subject to stronger supervision than many US peers and have proved robust and stable during market turmoil, Bank of France Governor Francois Villeroy de Galhau said. Speaking with Bloomberg, he adds that European lenders also benefit from more diversified business models that perform well when interest rates rise. Read more
Reuters: ECB may need to raise rates for longer than anticipated
The European Central Bank (ECB) may need to raise interest rates for longer than anticipated, Reuters writes. September could be the earliest moment when policymakers can judge whether past rate hikes have been effective, ECB Peter Kazimir said. Read more
FT: BoE set to raise interest rates to highest level since 2008
The Bank of England (BoE) is set to raise interest rates to their highest level since 2008 in the wake of official data last month that showed inflation remained stubbornly high. As reported by the Financial Times (FT), economists almost universally expect a quarter of a percentage point increase from 4.25 percent to 4.5 percent. 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
SBA: Declaration of intent on multi-banking
Under the aegis of the Swiss Bankers Association (SBA), a group of banks in Switzerland has just signed a “Memorandum of Understanding”. The aim is to make initial multi-banking offers for natural persons possible by mid-2025. Read more (FR)
Finance Norway: Hearing on financial markets
Kari Olrud Moen, CEO of Finance Norway, emphasized the value of a safe and solid financial sector at a hearing on financial markets. She, therefore, advocated that stable framework conditions must be ensured to enable the industry to create jobs and contribute to green transition and digital development. Read more (NO)
Finance Denmark: Consultation response on common European rules for crisis management of distressed credit institutions
The EU Commission published proposals for the revision of the rules for crisis management of distressed credit institutions. According to Finance Denmark, it's key to ensure a credible and feasible resolution regime for all European banks, regardless of size. Read more (DK) |
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FROM THE INSTITUTIONS
ECB: Diversity at the top makes banks better
More gender diversity at the top of euro area banks will make them better, said European Central Bank (ECB) Supervisory Board Vice-Chair, Executive Board member Frank Elderson, and Supervisory Board member Elizabeth McCaul in a blog. Read more
BIS: Embedding the flow of finance in the transition
In a speech published by the Bank for International Settlements (BIS), Frank Elderson, Member of the Executive Board of the European Central Bank (ECB) addressed the ongoing climate and environmental crises calling for more specific commitments. Read more
SRB: Celebrate Europe Day!
On May 9, the EU celebrates Europe Day, which commemorates the Schuman Declaration, the Single Resolution Board (SRB) reports. To mark the occasion, the EU institutions organized a wide range of online and on-site activities, providing citizens with the opportunity to discover and experience the European Union. Read more |
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FROM THE EBF
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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