FROM THE MEDIA

Bloomberg: Too early for discussion about European bad bank

European Central Bank Vice President Luis de Guindos said it’s too soon to discuss the possibility of creating a European “bad bank” to deal with risky debt, reports Bloomberg. The ECB has not taken any decision or entered into any discussion about the possibility of creating a bad bank at the European level, he said in an interview with Spanish newspaper ABC. He cited Spain’s Sareb as an example of an efficient tool for cleaning up bad loans from the banking industry. Read more
 

Handelsblatt: Bundesbank is taking lead in ECB legal fight

German parliament’s official researchers have concluded in a legal opinion that the Bundesbank must be responsible for examining whether the bond buying programme of the European Central Bank is proportionate, reports Handelsblatt. Read more (DE) Reuters
 

FT: Johnson seeks to galvanise Brexit talks with EU chiefs

Boris Johnson will push for rapid progress in future-relationship talks with the EU on a call with the bloc's chiefs today as Brussels warned it would not sacrifice its economic interests for the sake of a deal, writes the FT.  The videocall with European Commission president Ursula von der Leyen and other EU institutional leaders will be the prime minister’s first direct talks with Brussels about Brexit since the UK left at the end of January. Read more (€) Reuters RTE

Reuters: Spain backs economy minister for eurogroup candidacy

Spain’s Prime Minister Pedro Sanchez said he would look favourably on the country’s economy minister becoming a candidate to lead the euro zone’s group of finance ministers, according to Reuters. Read more FT(€)
 

EUReporter: Commission consults on EU Green Bond Standard

The European Commission has launched a targeted consultation on the establishment of an EU Green Bond Standard, which will be open until Friday 2 October 2020, writes EUReporter. Green bonds have become increasingly popular as investors look for ways to help finance the transition to an environmentally sustainable economy. Read more

FROM THE INSTITUTIONS

European Council: Strengthening Italy strengthens Europe, too

Solidarity is not a one-way street: it requires us, on the one hand, to mobilise resources to support the most affected regions and sectors. It also means making the necessary changes to strengthen each of the member states, and thus the European Union as a whole. Strengthening Italy strengthens Europe, too said European Council President Charles Michel at the inaugural session of the Italian National Consultation. Read more ECB's Lagarde remarks

European Parliament: MEPs firmly behind EU negotiator Michel Barnier

Foreign Affairs and Trade Committee MEPs reiterate their overwhelming support for the EU position in the talks between the European Union and the UK on their future relationship. They warn against the UK government’s current piecemeal approach and emphasise that a comprehensive agreement is in the interest of both parties. Having the UK cherry-pick certain policies and its access to the single market after Brexit is “unacceptable” for the EU, says the text. Read more

ECB: Sharing and strengthening the euro's privilege

The goals of boosting the euro’s global standing and sharing its advantages more evenly are one and the same, writes Executive Board member Fabio Panetta. Through the right mix of European fiscal and monetary policy, we can build a better functioning Monetary Union that achieves both of these goals. Read more

BIS: Stefan Ingves: The monetary policy toolbox

The spread of the coronavirus came as an unpleasant surprise to us all. It is now clear that the economic consequences of the pandemic threaten to be both serious and protracted. Most analysts have very weak forecasts for economic developments in the coming quarters, and in some scenarios also for a longer period to come said Stefan Ingves, Governor of the Sveriges Riksbank, at the Swedish Economics Association, Stockholm. Read more

European Commission weekly schedule

European Central Bank weekly schedule

Find out more about the ECB's engagements and activities for the upcoming week. Read more
 

EU Parliament weekly schedule

Find out more about the Parliament's engagements and activities for the upcoming week. Read more

TEST YOURSELF AGAINST THE FINLIT CHAMPIONS
 

 TUESDAY 16  JUNE: 
GRAND FINAL EUROPEAN MONEY QUIZ
 

The European Money Quiz is Europe's biggest financial literacy competition, organized by the EBF in close cooperation with national banking associations in 30 countries. On Tuesday 16 June at 14 CET, delegations from all these countries will join for the 2020 Grand Final via youtube.com/EuropeanMoneyQuiz. This online game show will introduce national winners and everyone - students (winners or not), parents, friends, colleagues, bankers and anyone else watching - will also be able to play the financial literacy quiz via Kahoot.
The quiz - primarily targeting 13-15-year-olds - so far this year attracted nearly half a million players, four times more than last year. The Grand Final will mark the close of the 2020 season. The 2021 season will begin in September when schools reopen after the summer holidays.

 Do you have what it takes to handle your finance?

EBF MEMBERS IN THE NEWS

ABOUT THE EUROPEAN BANKING FEDERATION
 

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations. The EBF 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.

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