EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 15 April 2024 An overview of the main financial regulation and banking stories this week and a look ahead to key events for the upcoming week, brought to you by the European Banking Federation Recommend the EBF newsletters to a colleague. Click here to sign up! |
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FROM THE MEDIA
Reuters: Traders bet the ECB will chart its own rate cut path
Traders' bets on European Central Bank (ECB) interest rate cuts this year have barely been shaken by hot U.S. inflation that slashed Federal Reserve easing expectations this week, highlighting a growing investor focus on the divergence between the regions. The ECB cemented that conviction on Thursday, signalling that it may soon start cutting rates. President Lagarde stressed the ECB is "data-dependent, not Fed-dependent." Read more
S&P Global Market Intelligence: Barclays has highest upside potential among European bank stocks
Barclays PLC has the most share price growth potential among large European banks, according to an analysis by S&P Global Market Intelligence. The UK lender's implied upside to share price target was 28.2% as of April 1, compared to a median of 8.6% for a sample of Europe's largest lenders. Read more
Risk.net: EU banks’ incremental risk charges soared in volatile H2
The incremental risk charges (IRCs) of several European Union banks spiked during the second half of 2023, amidst ongoing volatility in European and US credit markets, Risk.net reports. A Risk Quantum analysis of 14 EU dealers shows that nine of them saw a rise in the peak IRC reading – the maximum potential loss from the default or downgrade of trading securities – with BNP Paribas posting the biggest increase. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 15 April
International Monetary Fund and World Bank Spring Meetings Tuesday 16 April Bank of England and King’s College London ‘Empirical macroeconomics‘ workshop
Wednesday 17 April
Thursday 18 April
Friday 19 April |
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The European Money Quiz 2024 Grand finals are coming next week! |
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| | The European Money Quiz is Europe's biggest financial literacy competition, organized by national banking associations under the coordination of the European Banking Federation.
Launched alongside the European Money Week campaign in 2017, it is part of the EBF's mission to spotlight the importance of financial education.
Next week, more than 50 finalists from 26 countries - including students from Ukraine for the second time - will join us in Brussels for a fun learning experience.
Together, we will explore the capital of Europe, meet members of the financial literacy community from across Europe, and find out who the 2024 champions will be.
The 2024 edition is supported by Tata Consultancy Services - UK & Europe
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FROM EBF MEMBERS
AEB: Cost-effectiveness, first line of defence for global challenges
"2023 was a good year for the banking sector and this has a positive impact on the countries and economies where we operate because the drive for economic growth, which is in our DNA, is the drive for social progress. Profitability continues to recover due to the economic improvement and the normalisation of monetary policy, non-performing loans remain under control, capital and liquidity ratios have a significant margin over regulatory requirements" says Alejandra Kindelan, Spanish Banking Association's (AEB) President. Read more (ES)
BPFI: New report from the Climate Forum
Banking & Payments Federation Ireland (BPFI) hosted the launch of a report on best practice in climate-related risk management within financial services in Ireland, produced by the Climate Risk and Sustainable Finance Forum (Climate Forum), a consultative forum established by the Central Bank. Read more Finance Denmark: Fraud cases more than doubled in one year The Danish banks registered a total of 9,127 cases of online banking fraud in 2023. This is more than twice as many cases as the previous year. But in more than half of the cases, the banks luckily stop the money from ending up in the criminals' pockets. Nevertheless, in 2023, criminals managed to steal 104.9 million. kroner. This is shown by the latest figures from Finans Danmark. Read more (DK) |
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FROM THE INSTITUTIONS
ECB: Monetary policy decisions
The European Central Bank (ECB) Governing Council decided to keep the three key ECB interest rates unchanged. The incoming information has broadly confirmed the Governing Council’s previous assessment of the medium-term inflation outlook. Inflation has continued to fall, led by lower food and goods price inflation. Read more
ESAs: Voluntary dry run exercise to prepare industry for the next stage of DORA implementation
The European Supervisory Authorities (ESAs) today announced they will launch in May the voluntary exercise for the collection of information registers of contractual arrangements on the use of ICT third-party service providers by the financial entities. Under the Digital Operation Resilience Act (DORA) and starting from 2025, financial entities will have to maintain registers of information regarding their use of ICT third-party providers. Read more
EBA: Final guidelines on the application of the group capital test for investment firm groups
The European Banking Authority (EBA) published its final Guidelines on the application of the group capital test for investment firm groups. These Guidelines set harmonised criteria to address the observed diversity in the application of the group capital test across the EU and help ensure a level playing field. 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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This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v[email protected]
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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