EBF MORNING BRIEF Thursday 1 February 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: ECB case for raising bank reserves
The European Central Bank (ECB) looks increasingly likely to raise reserve requirements for lenders this year, according to strategists at Commerzbank heard by Bloomberg. An increase to 2% is seen as the most likely outcome, despite some central bankers such as Robert Holzmann raising the option for a much bigger jump. Read more
Reuters: European bank recovery stumbles
A strong recovery by European banks faces a possible setback after BNP Paribas and ING warned of a more challenging outlook and investors reappraised which lenders are most vulnerable as a boost from higher interest rates recedes. However, banks come into 2024 from a position of relative strength with many flush with cash, and the rate environment is still far more helpful than it has been for years, Reuters points out. Read more
BBC: AI will not be mass destroyer of jobs, BoE chief says
Artificial Intelligence (AI) will not be a "mass destroyer of jobs" and human workers will learn to work with new technologies, the governor of the Bank of England (BoE) has told the BBC. The Bank says businesses expect to see the benefits to productivity soon. Read more |
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FROM EBF MEMBERS
Febelfin: Card Stop fraud via telephone
An increasing number of people in Belgium are receiving calls from a number starting with '04'. The voice on the line allegedly informs them that suspicious transactions have been detected in their bank account. Worldline and Febelfin remind consumers never to share information via SMS, email, social media, or phone. Read more (FR) Finance Finland: Financial sector’s concrete actions in green transition This article is the first in a new series of reports showcasing concrete actions to promote the green transition by members of Finance Finland. First up, we hear about the experience of LocalTapiola, an insurer of Finnish wind turbines. Read more
Finance Latvia: Financial Literacy Week 2024
From March 18 to 24, the traditional "Financial Literacy Week 2024" will take place in Latvia, which is the most important event of the year in the field of financial literacy and is coordinated by the Bank of Latvia. As reported by Finance Latvia, representatives of the state, private and non-state sectors are invited to hold their own events. Read more (LAT) |
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FROM THE INSTITUTIONS
ECB: How climate change affects ECB's mandate
"We will no longer understand the financial system if we ignore the climate and nature crises and green transition plans," says European Central Bank (ECB) Executive Board member Frank Elderson. The ECB will therefore monitor politicians’ climate policy while assessing how climate change impacts its tasks. Read more
EC: Political agreement on the Listing Act
The European Commission (EC) welcomes the political agreement reached by the European Parliament and the Council on the Commission's proposals for a new Listing Act. Mairead McGuinness, Commissioner for Financial Services, Financial Stability and Capital Markets Union, said: “The agreement is an important step in making listing in the EU more attractive for companies, allowing for them to tap more diversified funding." Read more ESMA: New Q&As available The European Securities and Markets Authority (ESMA) has updated the following Questions and Answers: Credit Rating Agencies (CRA); Regulation of European Market Infrastructure Regulation (EMIR); Regulation of Markets in Crypto Assets (MiCA); and Markets in Financial Instruments Regulation (MiFIR) Regulation. 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.
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