EBF MORNING BRIEF      Wednesday 4 January 2023

FROM THE MEDIA

Bloomberg: ECB Kazaks sees ‘significant’ rate hikes at next meetings

According to Bloomberg, the European Central Bank (ECB) Governing Council member Martins Kazaks expects interest rates to be raised “significantly” in February and March. Faced with record consumer price growth, the ECB already increased borrowing costs by 250 basis points and markets bets suggest another two half point hikes. Read more 

FT: German inflation drops by more than expected to 9.6%

As reported by the Financial Times (FT), German inflation slowed more than expected in December, sliding below 10 percent and providing some relief for the European Central Bank (ECB) in its battle to control price rises. Partly because of German measures to shield consumers from high gas prices, the annual pace of consumer price inflation dropped to 9.6 percent, well down on the 11.3 percent registered the previous month. Read more

S&P Global Market Intelligence: 3 climate-related regulatory moves for European banks to watch in 2023

Climate change will continue to take center stage on the European regulatory agenda in 2023 as financial authorities introduce new disclosure requirements for banks, heighten their expectations for lenders' risk management and contemplate new prudential rules, writes S&P Global Market Intelligence. In particular, the three climate-related regulatory developments that European banks will be following in 2023 are expanded sustainability disclosures, heightened supervisory expectations, and capturing climate risk.Read more

MAIN EVENTS

• Bank of England: Money and Credit (November 2022)

• Bank of England: Effective interest rates (November 2022)

For a full-year overview of key financial regulation events: click here 

FROM EBF MEMBERS

Febelfin: The Swedish Presidency taking over the Council of the EU

Starting in January, Sweden holds the Council Presidency for the third time since their accession to the EU. Taking over from the Czech Republic, they will be the last link in the “Trio-presidency” of France-Czech Republic-Sweden. The Swedish presidency has a particular focus on the competitiveness of European companies. They see the digital transition as a great opportunity for companies to strengthen their competitiveness. Read more 

BdB: Investment 2022/2023: Annual review and trends

After a weak year on the stock markets, it is not surprising that German investors are rather dissatisfied with their annual balance sheet. The Association of German banks (BdB) published its representative investment survey on the 2023 journey. Read more (DE)

HUB: Banks successfully completed the process of adapting their operations to the euro

As reported by the Croatian Banking Association (HUB), banks have successfully completed the process of adapting their operations and services to the euro in accordance with the previously announced timetables. Immediately after midnight on January 1, 2022, banks enabled the use of cards and ATM networks, and from January 2, all bank services are available to clients. Read more (HR)

FROM THE INSTITUTIONS

ECB: Croatia adopts euro

The euro entered into circulation in Croatia on the first of January, bringing the number of EU Member States using the single European currency to 20. “I welcome Croatia to the euro family and to the ECB Governing Council table in Frankfurt,” said Christine Lagarde, President of the European Central Bank (ECB). Read more

SBR: Spotlight on Dominique Laboureix 

Dominique Laboureix has become the new Chair of the Single Resolution Board (SRB), having been officially appointed by the Council on 25 November last year. He is no stranger to the SRB, having previously served as Board Member and Director for Resolution Planning and Decisions. As Chair of the SRB, Laboureix will continue to help that tree grow, ensuring it can survive, whatever the weather. Read more

ESMA: A new look

The European Securities and Markets Authority (ESMA) unveiled a new logo and visual identity. The design of the new logo fully embraces the ESMA strategy for 2023-2028 and its key drivers: sustainability and technological and data innovation. Read more

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

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