EBF MORNING BRIEF Wednesday 8 May 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
Bloomberg: ECB can cut rates in June if inflation path holds
The European Central Bank (ECB) can begin to lower interest rates at its meeting next month, should there be no more jolts to consumer prices, according to Governing Council member Pablo Hernandez de Cos. "If these inflation prospects are maintained, from my point of view it would be advisable to begin reducing the current level of monetary restriction in June,” the Spanish central-bank chief said as quoted by Bloomberg. Read more
Cointelegraph: Central banks must revise business model, embrace CBDCs
Central banks’ future depends on a revision of their business model and speedy adoption of central bank digital currencies (CBDCs), said Joachim Nagel, president of the Bundesbank and member of the European Central Bank (ECB). Nagel reportedly warned about the uncertainty surrounding central banks, Cointelegraph reports. Read more
FT: EU banks need more than fear of missing out to perform from here
For many years, European banks were judged by many investors as too risky to own, thanks to political meddling, sluggish economies and self-inflicted pain. At some point, the risk becomes not owning them instead, when the sector’s outperformance starts to hit benchmarked returns for those on the sidelines. According to the Financial Times (FT), that risk is growing. Read more |
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MAIN EVENTS
Wednesday 8 May
Thursday 9 May
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FROM EBF MEMBERS
Finance Denmark: Investment industry has tripled sustainable dialogue with companies in two years
In 2023, Danish asset managers were in dialogue with companies around the world 7,400 times to influence them in a more sustainable direction. This is a threefold increase compared to 2021, according to a new report from Finance Denmark. Read more (DK)
ABBL: Luxembourg's financial sector stands firm
In a recent interview with the Luxembourg Times, Jerry Grbic, CEO of the The Luxembourg Bankers' Association (ABBL), highlighted the resilience of Luxembourg banks and businesses in the face of economic turbulence. Mr Grbic stressed the vital role of banks in promoting a stable economic environment while respecting ethical standards. Read more
BPFI: Victims of fraud being re-targeted by criminals
FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI), is issuing a fresh warning to consumers, particularly those over the age of 50, to be on alert as highly convincing investment scams continue to rise, with new cases now emerging of victims of investment fraud being re-targeted by criminals in what is known as ‘recovery scams’. Read more |
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Launch of the C-ESG Risk Roundtable Collateral Workstream
Tuesday, 28 May 2024 - 2.00 pm
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 | Bank, as well as supervisors, do recognize that environmental factors could be a source of financial risk. While banks are making tangible progress, they are facing numerous operational and implementation challenges, many of which are neither originated, nor inherent to the banking industry. Some will need to be addressed at the level of individual organizations, others will benefit from collaborative approaches.
To further strengthen the dialogue within the banking sector and to facilitate the discussion with the European Central Bank (ECB), a high-level Environmental, Social, and Governance Risk Roundtable (C-ESG Risk RT) was set up by the European Banking Federation (EBF) with the participation of 13 European banks.
On 28 May 2024, we will be launching the third report
resulting from the discussions and deliberations of the
C-ESG Risk Roundtable Climate Scenario Analysis Workstream.
The report will be available on the EBF website on 28 May,
after the launch event
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FROM THE INSTITUTIONS
ECB: Consolidated financial statement of the Eurosystem
The European Central Bank (ECB) published the consolidated financial statement of the Eurosystem as at 3 May 2024. Read more
ESMA: Input on assets eligible for UCITS
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today publishes a Call for Evidence on the review of the Undertakings for Collective Investment in Transferable Securities (UCITS) Eligible Assets Directive (EAD). The objective of this call is to gather information from stakeholders to assess possible risk and benefits of UCITS gaining exposure to various asset classes. Read more EBA: Final draft RTS under MiCAR The European Banking Authority (EBA) published three sets of final draft regulatory technical standards (RTS) and one set of final draft implementing technical standards (ITS) relating to the authorisation as issuer of asset-referenced tokens (ARTs), to the information for the assessment of acquisition of qualifying holdings in issuers of ARTs and to the procedure for the approval of white papers for ARTs issued by credit institutions under the Markets in Crypto-assets Regulation (MiCAR). 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 Leading European Associations’ Shared View On Improving Competitiveness of European Capital Markets The European Banking Federation (EBF), the European Fund and Asset Management Association (EFAMA), and the Federation of European Securities Exchanges (FESE) have released a joint report on the development of European capital markets and recommendations to enhance their competitiveness. 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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This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact [email protected] European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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