EBF MORNING BRIEF Tuesday 26 March 2024 Good morning. Here are the top news stories and events in European banking, financial regulation and EU policy, 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 Bloomberg: Traders bet BoE more likely to start rate cuts than ECB Traders are betting the Bank of England (BoE) could beat its European and US peers to interest-rate cuts, a turnaround from expectations it would be a laggard in 2024. Money markets have raised wagers on easing at its next monetary-policy decision, putting the probability of a cut at 20%, compared to less than 10% for the European Central Bank (ECB) and the Federal Reserve, Bloomberg reports. Read more The Banker: Banks called out for ‘window-dressing’ their systemic importance The Basel Committee on Banking Supervision has launched a consultation to address “window-dressing” by global systemically important banks, highlighting the need to address a practice that can have regulatory implications. Window-dressing refers to the practice of reducing certain balance sheet items ahead of anticipated reporting dates to appear safer and therefore hold less loss-absorbing buffers. G-SIBs fall into five buckets, each corresponding to a different level of loss absorbency requirements. Read more Reuter: ECB confident wage growth slowdown on track The European Central Bank (ECB) is increasingly confident that wage growth is slowing back toward more normal levels, potentially opening the door to rate cuts, ECB chief economist Philip Lane said according ro Reuters. The ECB has long pointed to rapid wage growth as a source of concern and said that cutting rates from record highs becomes possible once data starts showing the long-forecast moderation in wage demands. Read more |
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MAIN EVENTS Council Working Party on Tax Questions (High Level) Council Working Party on the Environment |
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FROM EBF MEMBERS Finance Denmark: Holiday home prices exploded in four years Danes who are looking for a holiday home must expect to have more money out of their pockets than before. In just four years, square meter prices have increased by almost 50 per cent. At the same time, the supply of holiday homes has been halved. This is shown by a new analysis from Finans Danmark. Read more (DK) BPFI: Banks to play key role in the delivery of the EPBD Banking & Payments Federation Ireland (BPFI) was delighted to welcome MEP Sean Kelly to the seminar 'Energy Efficient Buildings: reaching National and European Goals' where he delivered the keynote address on the Energy Performance Building Directive (EPBD). The revised EPBD directive sets out more ambitious energy performance requirements for new and renovated buildings in the EU. All new buildings should be zero-emission by 2030, and that existing building stock should be transformed by 2050. Read more Finance Latvia: The amount of loans granted to companies remained unchanged The volume of loans issued by commercial banks to legal entities has been stable during 2023, and the total amount of loans issued to companies exceeded 9 billion euros at the end of the year, according to the data of the Finance Latvia. Read more (LAT) |
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FROM THE INSTITUTIONS ECB: Technical considerations on the provision of multiple digital euro accounts to individual end users The European Central Bank (ECB) published the letter sent from Piero Cipollone, ECB Executive Board Member, to Ms Irene Tinagli, ECON Chair, on technical considerations on the provision of multiple digital euro accounts to individual end users. Read more ESMA: Launch of the third consultation under MiCA The European Securities and Markets Authority (ESMA) published its third consultation package under the Markets in Crypto-Assets Regulation (MiCA). In the consultation package, ESMA is seeking input on four sets of proposed rules and guidelines, covering: detection and reporting of suspected market abuse in crypto-assets; policies and procedures, including the rights of clients, for crypto-asset transfer services; suitability requirements for certain crypto-asset services and format of the periodic statement for portfolio management; ICT operational resilience for certain entities under MiCA. Read more ESRB: Joining up prudential and resolution regulation for SIBs The European Systemic Risk Board (ESRB) set out a stylised framework for the policies enacted to address the risks posed by systemically important banks (SIBs) and to counter the too-big-to-fail (TBTF) problem, examining conceptually how far supervisory and resolution policies are complementary or substitutable. 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.barbieri@ebf.eu European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium |
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