EBF MORNING BRIEF Monday 3 June 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.
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FROM THE MEDIA
Bloomberg: Eurozone inflation up more than expected before ECB Cut
Eurozone inflation accelerated more than anticipated, further clouding the outlook for European Central Bank (ECB) interest rates after next week’s planned cut. Consumer prices rose 2.6% from a year ago in May, up from 2.4% in April, Eurostat said. That’s more than the 2.5% median estimate of analysts in a Bloomberg survey. Read more Reuters: Italian banks must invest in technology, central bank says Technology investments by larger Italian banks lag behind those of their European peers, said Bank of Italy's Governor Fabio Panetta. As noted by Reuters, lenders have been urged to step up spending to support innovation in their offer of financial services. Read more The Banker: Banks are driving the green transition via climate tech Commercial banks remain hesitant to finance large-scale, largely unproven climate tech projects needed for the low-carbon transition without policy support aimed at reducing risk. According to the Banker, ING’s global head of sustainable finance says export credit agencies or blended finance are needed to make climate tech investments for Europe’s green transition ‘bankable’. Read more |
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MAIN EVENTS Council Working Party on the Environment |
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FROM EBF MEMBERS
Finance Latvia: More than 2,000 financial literacy lectures in 3 years
Another school year is coming to an end, in which students used the opportunity to gain additional knowledge in financial literacy. This year, the participants of the program gave 1107 lectures to their peers. In total in the Baltics have been conducted 2134 financial literacy lectures in three years. Read more (LAT) Finance Norway: Growth in the private sector continues to decline Finans Norway's job creation figures for the first quarter of 2024 show that there have been 16,400 more people employed compared to the same quarter last year. For the second quarter in a row, employment growth is below the required trend. Read more (NO) AAB: CSR brochure for the first quarter 2024 The Albanian Association of Banks (AAB) has published the latest Corporate Social Responsibility (CSR) brochure, which summarizes the commitment of banks to contribute to the sustainable development and improvement of the lives of communities during the first quarter of 2024. Read more (AL) |
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FROM THE INSTITUTIONS
ESAs: Templates and tools for voluntary dry run exercise to support the DORA implementation
The European Supervisory Authorities (ESAs) published templates, technical documents and tools for the dry run exercise on the reporting of registers of information in the context of Digital Operation Resilience Act (DORA). Read more ESMA: Final MiCA rules on conflict of interest of CASP The European Securities and Markets Authority (ESMA) published the Final Report on the rules on conflicts of interests of crypto-asset service providers (CASP) under the Markets in Crypto Assets Regulation (MiCA). Read more BIS: Next generation correspondent banking Existing correspondent banking processes have struggled to adapt to new regulatory and supervisory requirements, posing questions on the future of the correspondent banking model. The tokenisation of correspondent banking, as embodied in tha Bank for International Settlements' (BIS) Project Agorá, could unlock streamlined pre-screening and atomic settlement, and pave the way for superior customer verification and anti-money laundering (AML) procedures. Read more |
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FROM THE EBF
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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 r.hrelja@ebf.eu European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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