EBF MORNING BRIEF Wednesday 4 October 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: ECB not yet at price target, more work to be done
The European Central Bank (ECB) can’t relent in its fight to tame inflation even as maintaining the current level of interest rates is the “base case,” according to Chief Economist Philip Lane. He warned against being overly fixated on the institution’s December meeting, when new economics forecasts are presented, Bloomberg reports. Read more
POLITICO: Parliament votes through Buch as EU banking cop
The European Parliament voted through Germany’s Claudia Buch to become the EU’s next chief banking supervisor after a standoff with the European Central Bank (ECB). As pointed out by POLITICO, Buch’s appointment would remove a hurdle for Spain’s Finance Minister Nadia Calviño to become the next head of the European Investment Bank (EIB). Read more
CoinDesk: EU plans for wholesale CBDC out within weeks
Euro area central banks will set out plans for a wholesale central bank digital currency (CBDC) in the coming weeks, as they seek to innovate how financial institutions settle securities and foreign exchange transactions, the governor of France’s central bank said. According to CoinDesk, the wholesale plans appear to be moving faster than a much more controversial plan for a digital euro to be used by ordinary citizens. Read more |
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FROM EBF MEMBERS
NVB: Banks committed to a circular economy
The Dutch Banking Association (NVB) is committed to a transition towards a circular economy. A circular economy not only offers opportunities in the field of sustainability but also in innovation, raw material use, and entrepreneurship. Read more (NL)
Finance Denmark: No signs of abnormal earnings for Danish banks
Normalization of the interest rate level, low write-downs, and favorable financial markets have contributed to the fact that Danish banks' earnings are now on par with other Danish companies, Finance Denmark writes. Over a longer period, however, the bank's earnings have lagged noticeably behind those of the rest of the business. Read more (DK)
AEB: More than 2,000 people will receive training in digital banking
Alejandra Kindelán, President of the Spanish Banking Association (AEB) participated in the 'Digital banking towards inclusion' conference. During the event, the project 'My Digital Banking: easy and safe' was presented, which will offer training in digital banking via several online and in-person activities throughout Spain. Read more (ES) |
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FROM THE INSTITUTIONS
ECB: Philip R. Lane: Inflation and monetary policy in the euro area
“Based on our current assessment, we consider that the key European Central Bank (ECB) interest rates have reached level that, maintained for a sufficiently long duration, will make a substantial contribution to the timely return of inflation to our target," says Philip R. Lane, Member of the ECB's Executive Board. Read more
EBA: Work program for 2024
The European Banking Authority (EBA) published its annual work program for 2024, setting out the key strategic areas to work on in the coming year. The focus will be on implementing the EU banking package and monitoring financial stability as well as sustainability against a backdrop of increased interest rates and uncertainty. Read more ESMA: CSA on MiFID II Sustainability Requirements The European Securities and Markets Authority (ESMA) will launch a Common Supervisory Action (CSA) with National Competent Authorities (NCAs) on the integration of sustainability in firms’ suitability assessment and product governance processes and procedures in 2024. The goal is to assess the progress made by intermediaries in the application of sustainability requirements. Read more |
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FROM THE EBF EBF: Interview between Andrea Enria, Chair of the Supervisory Board of the ECB and Wim Mijs, EBF CEO The European Banking Federation (EBF) published the transcript of the interview with Andrea Enria, Chair of the Supervisory Board of the European Central Bank (ECB), conducted by Wim Mijs, CEO of the EBF. The interview took place on 28 September during the seventh edition of the Single Supervisory Mechanism (SSM) boardroom dialogue organized by the EBF. Read more
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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