EBF MORNING BRIEF Wednesday 7 February 2024 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: ECB's Vujcic urges rate cut patience
The European Central Bank (ECB) doesn't need to rush cutting interest rates, policymaker Boris Vujcic told Reuters, arguing it will be better for its credibility to be sure that inflation is under control. Vujcic also said there could be pauses along the way and that the so-called "equilibrium" rate was probably higher now in Europe than it used to be. Read more
Bloomberg: UBS to sell billions more AT1 bonds in coming years
UBS Group plans to sell billions more in Additional Tier 1 bonds over the next few years after a blockbuster deal last year that heralded a revival for the market for risky bank debt. The Swiss lender’s 2024 funding plan envisages issuing up to $2 billion equivalent of AT1s, according to Bloomberg. Read more
Finextra: UK fintech investment down 34% in 2023
Total UK fintech investment dropped to $12.3 billion in 2023, a bi-annual report on fintech investment trends shows. As reported by Finextra, UK fintech investment in 2023 was the lowest since 2020 and the Covid-19 pandemic. Read more |
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MAIN EVENTS Council Working Party on Tax Questions (High Level) Council Working Party on the Environment Council Horizontal Working Party on Cyber Issues European Commission ‘Single market’ research conference |
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FROM EBF MEMBERS
BdB: What is sustainable finance for medium-sized institutions?
With a brand new publication, the Association of German Banks (BdB) aims to guide small and medium-sized banks when it comes to sustainable finance. There are many new rules and standards at the European level and this could pose major challenges for small and medium-sized banks by making implementation complex. Read more (DE)
SBA: Strengthen the quality of accounting to prevent crime
The Swedish Bankers' Association (SBA) calls for far-reaching measures to prevent accountants from enabling financial crime. The proposed measures aim to strengthen the quality of accounting and ensure healthy competition in the industry. Read more (SE) ABBL: Exploring DORA policy mandates A landmark event co-organized by the Luxembourg Bankers Association (ABBL) convened leaders from Luxembourg's banking and fund management sectors to discuss the Regulatory Technical Standards (RTS) under the Digital Operational Resilience Act (DORA). Ananda Kautz and Emmanuel Gutton opened the event, emphasizing DORA's role in harmonizing rules on operational resilience and cybersecurity regulation across the EU. Read more |
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FROM THE INSTITUTIONS
ECB: Consumer Expectations Survey results – December 2023
The European Central Bank's (ECB) consumer expectations survey has expanded and now covers 11 countries, representing 96% of the euro area's GDP and 94% of its population. Among the results, the ECB notes that median consumer inflation expectations for the next 12 months have decreased for the third consecutive month. Read more ESMA: Posting investment recommendations on social media The European Securities and Markets Authority (ESMA) and National Competent Authorities are raising awareness of requirements established by the Market Abuse Regulation (MAR) which apply when posting investment recommendations on social media. They are also warning about the risks of market manipulation in such publications. Read more
EBA: Technical package for 3.4 reporting framework
The European Banking Authority (EBA) published a technical package for version 3.4 of its reporting framework. This package provides the standard specifications that include the validation rules, the Data Point Model and the XBRL taxonomies to support the amendments to the reporting and disclosure technical standards on minimum requirement for own funds and eligible liabilities and total loss absorbing capacity (MREL/TLAC). 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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