EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 2 September 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
POLITICO: Further rate cuts likely but beware of geopolitics
The new governor of Cyprusâ central bank sees few obstacles to further rate reductions this year, as long as geopolitics donât get in the way. âThe inflation rate has been declining so monetary policy is being successful, and if the projections of the [European Central Bank] continue to materialize thereâs nothing to prevent the Governing Council from reducing interest rates,â Christodoulos Patsalides told POLITICO. Read more
Bloomberg: Eurozone economic confidence rises on industry, services
Euro-area economic confidence edged higher for a second month thanks to improvements in industry and services. A sentiment indicator published by the European Commission rose to 96.6 in August from a revised 96 the previous month â more than analysts in a Bloomberg survey had predicted. Read more
FT: Falls in German and Spanish inflation boost chances of ECB cuts
German and Spanish inflation fell more than expected in August, boosting the chances of more European Central Bank (ECB) interest rate cuts, the Financial Times (FT) reports. The harmonised annual inflation rate for Germanyâs economy, the Eurozone's largest, declined to a three-year low of 2 per cent from 2.6 per cent in July. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 2 September
ECON Commission Foreign Investment Hybrid Stakeholder Consultations Council Working Party on the Environment Tuesday 3 September Council Working Party on the Environment Wednesday 4 September Council Horizontal Working Party on Cyber Issues Council Working Party on the Environment Thursday 5 September Council Working Party on the Environment Friday 6 September Council Working Party on the Environment |
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FROM EBF MEMBERS BdB: Corporate financing news - August 2024 The German economy is still stuck in a weak phase that has lasted several years. After a start to the year that surprised positively with slight economic growth in the first quarter of 2024, the latest economic data have disappointed across the board, the Association of German Banks (BdB) reports. Read more (DE) BPFI: Mortgage Approvals â July 2024 The Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for July 2024. A total of 5,313 mortgages were approved in July 2024 and the number of mortgages approved rose by 18.6% month-on-month and by 11.9% compared with the same period last year. Read more
Finance Latvia: Fix the budget today at the expense of future pensions
According to Andris Kerls, advisor of the Financial Industry Association, although the goal of developing the solution - reducing the burden on employers - is supportable, the reduction of pension level 2 contributions due to historical mistakes in reducing contributions will seriously undermine citizens' trust in the Latvian pension system. Read more (LV) |
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FROM THE INSTITUTIONS
ECB: Appropriate and effective macroprudential instruments
According to the European Central Bank (ECB), the Great Financial Crisis emphasised the importance of systemic risk for the stability of the financial sector and fostered the rise of macroprudential policy as a new policy area at the global level with concrete objectives and dedicated policy instruments to address systemic risk. Read more
EBA: Opinion on a measure to address macroprudential risk following a notification by DNB
The European Banking Authority (EBA) published an Opinion following the Dutch Central Bank's (De Nederlandsche Bank - DNB) notification of its intention to extend a measure originally introduced in 2022 for a further two years until 2026. Read more ESMA: Markets increasingly sensitive after strong performance in early 2024 The European Securities and Markets Authority (ESMA) published its second risk monitoring report for 2024, setting out the key risk drivers currently facing EU financial markets. External events continue to strongly impact the evolution of financial markets, and ESMA also sees high or very high overall risks in the markets within its remit. 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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