EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 15 January 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
CoinDesk: ECB is serious about enabling Digital Euro offline use
The European Central Bank (ECB) offers a big chunk of cash to contractors who can enable offline payments for a retail digital euro. In calls to find providers for various features, including risk management, information security and a user application, the ECB revealed plans to allocate as much as 1.2 billion euros ($1.3 billion) to potential contractors. More than half is earmarked for the offline payments service, CoinDesk reports. Read more
Bloomberg: ECB’s Vujcic favors quarter-point moves as rate cuts start
European Central Bank (ECB) Governing Council member Boris Vujcic said he prefers quarter-point reductions in borrowing costs once monetary easing begins. According to Bloomberg, Vujcic’s remarks prompted money markets to skew bets toward more easing, pricing six quarter-point cuts by year-end with the first move coming by April. Read more
Reuters: EBA reveals ruling that prompted BNP to rejig capital
The EU's banking watchdog said that millions of euros of capital used by BNP Paribas in its safety buffers were ineligible and must be removed. As reported by Reuters, the European Banking Authority (EBA) said the complexity of discos could hamper how a bank is wound down in a crisis and must be replaced by a simpler, more readily available form of capital that complies with EU rules. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 15 January
World Economic Forum 'Rebuilding Trust' Annual Meeting Tuesday 16 January Council Working Party on the Environment World Economic Forum 'Rebuilding Trust' Annual Meeting
Wednesday 17 January
Council Horizontal Working Party on Cyber Issues World Economic Forum 'Rebuilding Trust' Annual Meeting
Thursday 18 January
Council Working Party on the Environment World Economic Forum 'Rebuilding Trust' Annual Meeting
Friday 19 January
World Economic Forum 'Rebuilding Trust' Annual Meeting |
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FROM EBF MEMBERS
BdB: Emergency fund: build up a financial cushion!
Financial provision is key. As the Association of German Banks (BdB) points out, you should start with an overview of your monthly income and expenditure that will help you identify potential savings and ensure financial security even in an emergency. Read more (DE)
Finance Norway: Agreement on a new labor contract for finance
Following two days of negotiations, an agreement was reached on changes to the Main Agreement between Finance Norway and the Finance Sector Union of Norway. "It has been two days of constructive negotiations where the parties have come together in important areas", says Finance Norway's Director of Negotiations Thomas Keiserud. Read more (NO)
CBA: Inflation slowed to 6.9% in December
According to the Economic commentary by Jakub Seidler, Chief Economist of the Czech Banking Association (CBA), inflation fell from 7.3% to 6.9% in December. Inflation was dragged down more than expected mainly by lower food prices. Read more (CZ) |
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FROM THE INSTITUTIONS
ECB: Economic Bulletin
The European Central Bank (ECB) publishes the Economic Bulletin. This publication presents the economic and monetary information which forms the basis for the Governing Council’s policy decisions. Read more EBA: Prudential treatment of a BNP Paribas legacy instrument The European Banking Authority (EBA) published a response to the letter received from a law firm regarding the case of the prudential classification as a Tier 2 instrument of a legacy perpetual bond of an institution established in France (BNP Paribas). Read more
ESMA: Supervisory activities on MiFID II pre-trade controls
The European Securities and Markets Authority (ESMA) has launched a Common Supervisory Action with National Competent Authorities (NCAs), to assess the implementation of pre-trade controls by EU investment firms using algorithmic trading techniques. Read more |
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FROM THE EBF
EBF: Report of the C-ESG Risk Roundtable Collateral Workstream
The second report from the high-level Environmental, Social, and Governance Risk Roundtable (C-ESG Risk RT) is out. The scope of the report by the Collateral Workstream of the C-ESG Risk RT is to identify common practices in collateral valuation, challenges in the regulatory and supervisory landscape, the different valuation standards, gaps identified in their applicability, and the role of the different stakeholders in the integration of ESG risks in the valuation process. 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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