EBF MORNING BRIEF Monday 24 February 2023 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.
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FROM THE MEDIA AP: EU slaps sanctions on top Russia officials, banks, trade The European Union agreed to impose new sanctions on Russia over its invasion of Ukraine. As reported by Associated Press (AP), asset freezes were slapped on three more Russian banks. Ukrainian President Volodymyr Zelenskyy welcomed the new package. Read more
FT: Has the windfall from rising rates already peaked for UK banks?
Some of the biggest high street lenders have warned that net interest margins are no longer heading up. However, despite the disappointment that rising rates may not provide as much of a boost as hoped, banks still look set to weather a worsening economy in 2023, the Financial Times (FT) reports. Read more
CoinDesk: Online transactions, peer-to-peer payments should be priorities with Digital Euro, ECB says
Transfers in stores and to governments could take longer to develop but basic personal use should be free, the European Central Bank (ECB) said in a document seen by CoinDesk. According to the document, other uses such as paying taxes, receiving welfare payments or even paying in physical stores would follow in later. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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EBF and S&P Global Market Intelligence webinar Staying strong in volatile markets: How banks can overcome challenges to funding and lending Tuesday 14 March, 2023 || 3:30 – 4:15 PM CET Banks in Europe today must navigate a new environment of rising interest rates, changing customer priorities and recession risk. Smart management of lenders’ funding needs and lending profiles is essential if they are to remain profitable and competitive. Join our panel of experts as they explore what the market will be watching for and how banks can react to fast-moving geopolitical events and regulatory changes. |
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FROM EBF MEMBERS FBF: New Chair of the Regional Banking Committee Centre-Val de Loire The Banking Committee of the French Banking Federation (FBF) Centre-Val de Loire has elected Marc-Antoine de Hannuna as its Chair for a two-year term. He succeeds Vincent Baron. Read more (FR)
Finance Finland: Pulling down the veil of mystery around lobbying
In 2024, Finland will be the first Nordic country to establish a statutory transparency register as the Parliament approved a new act on a statutory transparency register. The act is aimed at increasing the transparency of lobbying and affirms the role of lobbying as a valid and respectable part of democratic decision-making, according to Finance Finland. Read more
Finance Latvia: Tips to successfully plan joint finances for couples
In a short piece published by Finance Latvia, Elīna Kalniņa, Head of the Private Person Segment of SEB Banka, recommends three steps that will help you successfully plan the joint finances of both partners. Read more (LAT) |
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FROM THE INSTITUTIONS
ECB: Returning inflation to 2%
Inflation is still unacceptably high, says European Central Bank (ECB) President Christine Lagarde. 'We have to be confident it will return to 2% in a timely manner. Our decisions will be determined by the incoming data and driven by that goal,' she adds. Read more
SRB: The role of the SRB and its priorities for the coming months
Dominique Laboureix, Chair of the Single Resolution Board (SRB) discusses the characteristics and functioning of the SRB and looks at the priorities and potential challenges for resolvability in Europe’s Banking Union countries. Read more
BIS: Private debt, monetary policy tightening, and aggregate demand
As the global economy slows, inflation is subsiding on the back of tighter monetary policy. Amid historically high private debt levels, should central banks expect that the effect of interest rate hikes on aggregate demand will be amplified so that they get more bang for the buck? And how will the characteristics and the composition of private debt affect this impact? A paper by the Bank for International Settlements (BIS) explores this. 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.
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