EBF MORNING BRIEF Wednesday 25 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
FT: ECB set to pause rate hikes and focus on balance sheet shrinking
The European Central Bank (ECB) is expected to halt the most aggressive series of interest rate rises in its history when policymakers meet in Athens this week. Rate-setters are also expected to discuss the possibility of tightening monetary policy via their balance sheet. According to the Financial Times (FT), up for debate is whether to stop reinvesting the proceeds of a €1.7tn portfolio, bought in response to the pandemic. Read more
Reuters: Eurozone lenders and borrowers shun credit as rates climb
Eurozone banks further curbed access to credit in the third quarter even as demand from households and companies fell more than expected amid high borrowing costs and a deteriorating economic outlook, a European Central Bank (ECB) survey showed. Banks expect a further, albeit less pronounced, decline in demand for all types of loans in the fourth quarter, Reuters adds. Read more S&P Global Market Intelligence: Polish election bolsters banks with prospect of more lending, higher rates The looming change of government in Poland is expected to improve the fortunes of the country's lenders as it could unblock EU funds, reduce political interference, and shift the central bank's monetary policy. "We expect that a new non-PiS government will have a more business-friendly eye on the banking sector," Gunter Deuber, managing director, chief economist, and head of Raiffeisen Research, told S&P Global Market Intelligence. Read more |
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FROM EBF MEMBERS
ABBL: Online platform to gain confidence in online-banking
The Luxembourg Banker's Association (ABBL) Foundation for Financial Education is helping people gain confidence in digital banking services by launching the "Sécher am Internet" platform. This is an information and training website on online banking and Internet security, including a simulation tool for a transactional banking site. Read more
NVB: 'Shopping' with bank tax increase is undesirable
The Dutch Bankers' Association (NVB) is seriously concerned about structurally increasing the bank tax due to ever-changing and diverging political desires. As the NVB indicated, a reliable and predictable government is crucial for sound business. Read more (NL)
CBA: Confidence in the economy rose in October
Economic confidence improved in October, largely offsetting last month's decline. As pointed out by Jakub Seidler, Chief Economist of the Czech Banking Association (CBA), the increase was driven by both households and businesses and the situation improved especially in the industrial sector. Read more (CZ) |
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FROM THE INSTITUTIONS
ECB: The digital euro, demystified
Will we soon pay with a digital euro? Although no decision has been made on issuance, Europe is preparing for a possible digital euro. This is fuelling a lot of interest and misconceptions. The European Central Bank (ECB) host Stefania Secola and digital euro project head Evelien Witlox debunk some myths. Read more
ESMA: Natural gas futures markets functioned appropriately during the August 2022 price surge
The European Securities and Markets Authority (ESMA) published a study on the record surge in prices in European natural gas futures markets in August 2022. Natural gas derivative markets came into the spotlight with the Russian invasion of Ukraine, which drove uncertainty and later led to falls in Russian supplies. Read more
European Council: New regulation to promote sustainable finance
The European Council adopted a regulation creating a European green bond standard. The regulation lays down uniform requirements for issuers of bonds that wish to use the designation ‘European green bond’ or ‘EuGB’ for their environmentally sustainable bonds. The new standard will foster consistency and comparability in the green bond market, benefitting both issuers and investors of green bonds. 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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