EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 18 March 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: ECB policymakers offer contrasting timeline for rate cuts
European Central Bank (ECB) policymakers continued to line up behind a June interest rate cut but offered contrasting views on the timing and pace of further moves, suggesting there is no consensus yet within the Governing Council, Reuters reports. ECB President Christine Lagarde put an initial move on the table last week, most likely in June, and the fresh comments suggest policymakers have already started looking further ahead. Read more
The Banker: ECB to shrink balance sheet and increase bank lending
The European Central Bank (ECB) has announced significant changes to its operational framework for implementing monetary policy, with the aim of increasing lending to commercial banks while reducing its extensive bond portfolio. As reported by the Banker, this decision follows years of the ECB injecting liquidity into the eurozone’s banking system through bond buying, and reflects a broader trend among major central banks to reassess their liquidity provision and reduce the size of their balance sheets. Read more
Bloomberg: ECB’s Guindos Says Inflation Headed to 2% But Wages Still a Risk
European Central Bank (ECB) Vice President Luis de Guindos reiterated that inflation is returning to the 2% target, though wage pressures still pose risks. As reported by Bloomberg, Guindos flagged increases of about 5% in salaries alongside limited productivity that could yet reignite consumer prices. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 18 March
Tuesday 19 March
Wednesday 20 March
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Council Working Party on the Environment -
House of Commons Treasury Committee: Oral evidence session on retail banks
Thursday 21 March
Friday 22 March
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EUROPEAN MONEY WEEK 2024
A decade of boosting Europe's financial education: what next?
Tuesday 19 March 2024 | 10:00 - 4:00 PM (CET)
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 | In 2015, the European Banking Federation (EBF) launched the European Money Week, leading in promoting financial education across Europe. A decade later, we find ourselves in a very different landscape, where technologies like artificial intelligence (AI) and digital finance add layers of complexity while presenting both challenges and opportunities. Against this backdrop, the 2024 European Money Week kicks off with a timely examination of Europe’s financial literacy landscape in the crucial lead-up to European elections. A great line-up of panels will delve into the intertwined threads of digital skills and financial awareness with a focus on the latest trends and strategies to empower citizens. On March 19, join us in Brussels or online to hear from the leading voices in policy, academia, and the industry as they discuss where we are and what’s next for financial education in Europe. Do not miss the chance to build a more financially empowered future. |
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FROM EBF MEMBERS
ABI: Ethics, economics and banking perspectives in Italy
"The Italian Banking Association (ABI) has published a memorandum of banking initiatives to help borrowers in difficulty to cope with rising variable rates: only in Italy there is the possibility to renegotiate mortgage contracts even moving them to competing banks. More flexible rules are needed for banks, businesses and households to restructure impaired loans: we call on the European Banking Authority to relax the inflexible regulations that greatly restrict credit restructuring," says ABI Chairman Antonio Patuelli. Read more (IT)
NVB: Working together to accelerate the circular economy
Dutch State Secretary Vivianne Heijnen and Dutch Banking Association(NVB) chairman Medy van der Laan signed agreements on Thursday for the further development of a circular economy. In this way, banks and government are strengthening their collaboration to accelerate the transition to a circular economy. Read more (NL) FBF: Latest figures on corporate financing The French Banking Federation (FBF) published the figures on corporate financing for the end of January 2024. Despite the gloomy economic climate and the tightening of monetary policy, annual growth in bank lending to businesses was still up by 1.3% in France in January 2024, whereas it was negative in the eurozone (-0.5%). Read more (FR) |
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FROM THE INSTITUTIONS
ECB: Banks must tackle climate and environmental risks
Banks must identify, measure and manage climate-related and environmental risks. They can draw on growing examples of good practice to ensure they meet supervisory expectations by our end-2024 deadline, said European Central Bank (ECB) Supervisory Board Vice-Chair Frank Elderson at the EBF Executive Committee meeting. Read more
EIOPA: How occupational pension funds’ investments align with the EU Taxonomy for sustainable activities
The European Insurance and Occupational Pensions Authority (EIOPA) published a factsheet which provides an overview of the investments of European Economic Area (EEA)-based occupational pension funds. Specifically, it shows how the occupational pension funds’ direct equity and corporate bonds investments in the EEA align with the EU Taxonomy for environmentally sustainable activities. Read more
EBA: Final draft technical standards on complaints handling for issuers of asset referenced tokens
The European Banking Authority (EBA) published the final draft Regulatory Technical Standards (RTS) that set out the requirements, templates and procedures for handling complaints received by issuers of asset reference tokens. The draft RTS fulfil a mandate conferred on the EBA in the Markets in Crypto-Assets Regulation and were developed in close cooperation with the European Securities and Markets Authority. 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]
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