📝EBF Morning Brief - Wednesday 27 November 2024: Euro Rises as Trump Omits Region From Latest Tariff Threat

EBF MORNING BRIEF Wednesday 27 November 2024

FROM THE MEDIA

Bloomberg: Euro Rises as Trump Omits Region From Latest Tariff Threat

The euro gained on Tuesday after Europe escaped the latest round of Donald Trump’s trade tariff threats and as investors positioned for what historically has been the strongest month for the currency, reports Bloomberg. Read more

The Banker: COP29 delivers $300bn climate finance target amid calls for financial reform

A bit like Brexit, anything was considered better than COP29 in Baku ending with no deal. The agreement that was gavelled down in the early hours of Sunday morning just about kept the climate show on the road, reports The Banker. Read more

S&P Global: UBS, Deutsche Bank to lead 2024 investment banking fee growth among global peers

Revenues generated from advisory and capital markets underwriting activities are projected to surge about 95% at UBS and 55% at Deutsche Bank, according consensus estimates compiled by Visible Alpha, writes S&P Global. Read more

MAIN EVENTS

Governing Council of the ECB: non-monetary policy meeting – hybrid format

ENISA ‘Reframing Cybersecurity Awareness Raising’ 1st Cybersecurity Awareness Raising Conference

Council Working party on Tax Questions (High Level)

ECB: Euro area quarterly insurance corporations statistics (Q3 2024)

Navigating the AML Package:
Implementation challenges and perspectives across sectors
04 December, 10:00-11:30 CET, ONLINE

The event "Navigating the AML Package: Implementation Challenges and Perspectives Across Sectors" aims to foster a comprehensive dialogue around the practical aspects of implementing the EU Anti-Money Laundering (AML) package.
By bringing together policymakers, national authorities, and industry representatives, the discussion will:
• Clarify Policy Objectives: Provide an overview of the AML package and outline the next steps from the European Commission in terms of secondary legislation.
• Highlight Member State Challenges: Discover initial insights and actions taken by national authorities to align with the regulatory framework.
• Provide a Global Perspective: Highlight the EU AML/CFT Global Facility role for advancing international cooperation and regulatory alignment in combating financial crime.
• Bridge Policy and Practice: Share sector-specific insights from AME members to uncover challenges and potential solutions for effective compliance.
This event seeks to build a shared understanding of the EU AML package’s impact across sectors, identify pathways for smoother implementation, and strengthen cooperation among stakeholders to combat financial crime effectively.
📩 Confirm your participation by 29 November: [email protected]
[email protected]

FROM EBF MEMBERS

Febelfin: Once upon a time there was a beautiful prince... who happened to run out of money

Hansel and Gretel meet a witch who promises them a great investment in exchange for their last breadcrumbs. A prince in love helps Cinderella out with money to repair her carriage. Far-fetched? Read more

Finance Latvia: A free app for internet users to ward off cyber-scammers

In its efforts to ensure the security of Latvia's cyberspace, the cyber incident prevention institution CERT.LV offers a wide range of cybersecurity-related services, including the DNS Firewall—a free active protection tool designed to safeguard individual users and organizations from current cyber threats in Latvia’s cyberspace. Read more (LV)

Czech Banking Association (ČBA): 7% of Czechs are in high-risk debt, a fifth of people have never borrowed

7% of people have been high-risk when borrowing money this year. This is a significant decrease compared to last year (11%). At the same time, the number of Czechs who do not take any risk at all has risen from 42% to 48%. Read more

FROM THE INSTITUTIONS

ECB: Interview with Luis de Guindos, Vice-President of the ECB, conducted by Petri Sajari

Luis de Guindos highlighted risks to euro area financial stability, including high asset valuations, sovereign debt, and geopolitical tensions, while stressing the need for structural reforms and fiscal prudence. He affirmed confidence in inflation returning to 2% and continued easing of monetary policy to support fragile growth. Read more

BIS: Basel Committee publishes more details on global systemically important banks

The Basel Committee on Banking Supervision published further information related to its 2024 assessment of global systemically important banks (G-SIBs), with additional details to help readers understand the scoring methodology. Read more

European Council: Council gives go-ahead to EU annual budget for 2025

Total commitments are set at €192.768,6 million and the total payments at €149.615,7 million, excluding appropriations foreseen for special instruments outside the multiannual financial framework for 2021-2027 (MFF). Read more

FROM THE EBF

EBF appoints María Abascal as new Chair of its Executive Committee

EBF announces María Abascal, Director General of the Spanish Banking Association (AEB), as Chairwoman of its Executive Committee for a two-year term starting January 1, 2025. She succeeds Eelco Dubbeling, Managing Director of the Dutch Banking Association, whose term ends after two years of dedicated service. The EBF thanks Dubbeling for his leadership since November 2022. Read more

New EBF Vacancies! Work with us!

Visit our Vacancies page to learn more about the opening positions at the EBF. 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