EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 31 July 2023 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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OUR NEWSLETTER TAKES A SUMMER BREAK! We will be back on Monday 4th of September!
Looking forward to seeing you soon for new events and stories
in the financial and banking sector |
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FROM THE MEDIA
Reuters: ECB raises rates; keeps options open for September
The European Central Bank (ECB) raised interest rates for the ninth consecutive time and kept the door open to further tightening as stubborn inflation and a growing risk of a recession pull policymakers in opposing directions. According to Reuters, markets consider a further rate hike in September or October likely. Read more
Bloomberg: Europe's financial districts lose tenants as banks move out
Europe’s high-rise financial districts have been hit hardest by the turmoil sweeping office markets around the world, Bloomberg reports. Banks are looking to make going to the office more desirable as part of a post-pandemic reset, and instead of giant glass and steel towers, they’re opting for smaller sites. This also reflects the changing needs of banks. Read more
FT: Regulators announce ‘Basel III endgame’ rules for large US banks
US bank regulators have announced a sweeping set of tougher capital rules for the country’s large lenders, in their most comprehensive effort in more than a decade to fortify the financial system. As reported by the Financial Times (FT), regulators will give banks until the beginning of 2028 to comply with the rules. Read more |
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FINANCIAL REGULATION AGENDA for next week Monday 31 July Tuesday 1 August Wednesday 2 August Thursday 3 August Friday 4 August
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
Febelfin: Anti-money laundering consultation platform
On June 18, the consultation platform aimed at combating money laundering celebrated its second anniversary. What does the banking sector think of the evolution of this collaboration and the achievements in this context? Gregory Machenil, Director, Legal Affairs & Compliance at Febelfin shares his insights. Read more (FR)
UK Finance: Takeover Panel’s proposed changes to Rule 21 restrictions
In the Public Consultation Paper published on 15 May, the Takeover Panel (the ‘Panel’) proposed certain amendments to Rule 21 of the Takeover Code that deals with frustrating actions. UK Finance analyzed and responded to the Panel’s proposals. Read more
Finance Denmark: Fewer smaller apartments are for sale than last year
There have been fewer smaller apartments for sale nationally. However, there are geographical differences between the five largest cities. This is shown by the latest figures from Finance Denmark. Read more (DK) |
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FROM THE INSTITUTIONS
ECB: Monetary policy decisions
Inflation continues to decline but is still expected to remain too high for too long. The European Central Bank (ECB) Governing Council is determined to ensure that inflation returns to its 2% medium-term target in a timely manner. It, therefore, decided to raise the three key ECB interest rates by 25 basis points. Read more
BIS: International banking statistics
According to the locational banking statistics by the Bank for International Settlements (BIS), banks' global cross-border claims rose by $619 billion during the first quarter of 2023, with the stock reaching $37 trillion for the first time. Read more
EC: EIF and Banco Santander sign guarantee agreement to support small businesses with up to €280 million in new financing
The European Investment Fund (EIF) gives a €200 million guarantee to Santander to support innovation and green transition by small and medium-sized enterprises (SMEs) and small mid-caps based in Spain and other EU countries. According to the European Commission (EC), the credit line is linked to specific financing products covering two areas: Sustainability, and Innovation and Digitalisation. 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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