EBF MORNING BRIEF Wednesday 3 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: Soft lending and inflation data pave way for smaller ECB hike As reported by Reuters, eurozone banks are turning off the credit taps and a key gauge of inflation is finally falling, boosting the case for a smaller interest-rate increase by the European Central Bank (ECB) later this week. Core inflation in the eurozone fell in April for the first time since January 2022 although it remained at an extremely elevated 7.3%, Eurostat's flash reading showed. Read more
Bloomberg: Ireland warns ECB of the impact of interest-rate hikes
Irish Finance Minister Michael McGrath said the European Central Bank (ECB) should be cautious of the impact on firms and households of raising interest rates and called on businesses to play their part in fighting inflation by cutting prices. “The monetary authorities have very difficult decisions to make in relation to interest-rate policies,” he said. Read more
FT: ECB cannot afford to be complacent about European banks
Europe had a good banking crisis, with no domestic stress. This is not an accident: the EU has done a better job of regulating and supervising its banks than the US. However, the European Central Bank (ECB) must proceed carefully with its remaining rate rises and it should be a wake-up call to complete banking union. This is what Krishna Guha, Vice-chair of Evercore ISI writes in an opinion piece published by the Financial Times (FT). Read more |
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This year, we have joined forces with the International Banking Federation (IBFed) for a special edition of our flagship event dedicated to international and European banking policy. Bringing together more than 450 policymakers, experts, representatives from banks, and international financial institutions, we will explore how banks can tackle the opportunities and challenges presented by a deglobalizing world, with a focus on global competition, digital banking, and sustainable transition. |
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MAIN EVENTS Council Horizontal Working Party on Cyber Issues For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
Febelfin: To app or not to app? A quarter of Belgians say that in 2022 they used online banking services more often than the previous year. Online banking is clearly on the rise, but physical contact with the bank remains essential, especially for important decisions. This is what emerges from an online survey conducted on behalf of Febelfin. Read more (FR)
Finance Denmark: Investor boom continues
In 2020-2021, Denmark experienced an investment boom, with the number of investors growing by 216,000. New data by Finance Denmark suggests the number of investors has not fallen significantly in 2022, despite the economic uncertainty. Read more (DK)
CBA: Economy grew by 0.1% quarter-on-quarter
In the first quarter of 2023, the domestic economy grew by 0.1% quarter-on-quarter and fell by 0.2% year-on-year. This is what the Czech Banking Association (CBA) reports. Although the domestic economy shows relatively good resilience and economic sentiment gradually improved in the first quarter thanks to falling energy prices and subcontracting difficulties, risks to future development still remain. Read more (CZ) |
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FROM THE INSTITUTIONS
ECB: Bank lending survey results – Q1 2023
Banks reported a further substantial tightening in credit standards. Loan demand decreased strongly, driven by rising interest rates, lower fixed investment, and deteriorating housing markets. The ongoing reduction in the European Central Bank (ECB)’s balance sheet contributes to weakening lending dynamics. Read more
EBA: Supervisory reporting requirements easier to navigate
As part of its drive for more proportionate regulatory reporting framework, the European Banking Authority (EBA) has issued the first version of an interactive signposting tool, that aims at supporting institutions in identifying relevant modules and templates for their reporting requirements. Read more
ESMA: Four new Third Country CCPs
The European Securities and Markets Authority (ESMA) has recognised four additional third country CCPs (TC-CCPs) under Article 25 of the European Market Infrastructure Regulation (EMIR), bringing the total number of TC-CCPs recognised by ESMA to 39. 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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