EBF MORNING BRIEF Monday 15 April 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 Reuters: ECB to discuss new strategy and green policy at Irish retreat European Central Bank (ECB) policymakers will discuss green monetary policy and their upcoming strategy review at a retreat in Ireland next month, where they will also pave the ground for an interest rate cut in June, sources told Reuters. The ECB is nearing the end of a two-year fight against high inflation, with the internal debate now focused on the path for borrowing costs beyond a well-announced reduction from record highs on June 6. Read more Bloomberg: Europe’s banks enjoy ‘better for longer’ backdrop European bank stocks are set to benefit from a backdrop that Goldman Sachs Group Inc. analysts are calling “better for longer.” They see a combination of cheap valuations, a reopening of capital markets and earnings strength even if interest rates fall as reasons for why investors should own banks, such as BNP Paribas SA, Banco Santander SA and Deutsche Bank AG. Read more FT: ‘We are not Switzerland’: ECB rate-setters downplay fallout of hot US inflation A stronger than forecast US inflation figure caused a stir as European Central Bank rate-setters sat down for dinner in Frankfurt on Wednesday, but several attendees said it only toughened their resolve to disregard what the Federal Reserve might do. “We are not Switzerland, we are the euro area and can operate independently without worrying about the exchange rate,” one ECB source told the Financial Times (FT), referring to the Swiss central bank’s costly interventions to support the franc in recent years. Read more |
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MAIN EVENTS International Monetary Fund and World Bank Spring Meetings |
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FROM EBF MEMBERS AEB: Banks strengthen their profitability and efficiency in 2023 The banks of the Spanish Banking Association (AEB) are among the most profitable and efficient in the European Union in 2023, enabling them to guarantee their support for households and companies through financing, and to continue driving economic and social progress with their activity. Read more (ES) Finance Latvia: Tolerance towards financial crimes is growing The tolerance of Latvian citizens towards financial crime is increasing, according to the results of the 2023 opinion poll conducted by the Financial Intelligence Service (FIS). This year, the FIS is therefore continuing the "Crime Traces Cannot Be Laundered" campaign launched last year and stresses that it is important to make people aware of the serious crimes behind money laundering. Read more (LAT) Finance Denmark: Few Danes obtain loan offers for home purchases Since the turn of the year, interest in buying owner-occupied homes has been at a lower level than in the same period last year. Compared to last year, it is especially in the metropolitan area that fewer people are investigating the possibility of buying a home. This is shown by the latest figures from Finans Danmark. Read more (DK) |
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FROM THE INSTITUTIONS ECB: Policies robust to climate and nature crises Failure to meet the Paris climate goals poses economic challenges that have an impact on central banks’ work, says European Central Bank (ECB) Executive Board member Frank Elderson. To avoid long-term policy mistakes, economic policymakers must address the resulting structural changes and reduce uncertainty. Read more EBA: Annual assessment of banks’ internal approaches for the calculation of capital requirements The European Banking Authority (EBA) today published its 2023 Reports on the annual market and credit risk benchmarking exercises. These exercises aim at monitoring the consistency of risk weighted assets (RWAs) across all EU institutions authorised to use internal approaches for the calculation of capital requirements. Read more ESMA: EU regulators’ supervisory practices regarding EMIR data quality are improving The European Securities and Markets Authority (ESMA) has published its follow-up report to the 2019 peer review into supervisory actions aiming at enhancing the quality of data reported under EMIR (European Market Infrastructure Regulation). The report shows that supervisory practices improved significantly following the findings and recommendations of the 2019 peer review. 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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