EBF MORNING BRIEF Monday 6 November 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
Bloomberg: ECB can’t close door to further rate hikes, Schnabel says
The European Central Bank’s (ECB) fight against inflation might require further interest rates hikes, says Executive Board member Isabel Schnabel. “After a long period of high inflation, inflation expectations are fragile and renewed supply-side shocks can destabilize them, threatening medium-term price stability”, she stated according to Bloomberg. Read more
Euractiv: Finance Watch: economic models underestimate climate risks
A new report by the financial policy NGO Finance Watch warns that the economic models used to calculate the risks of climate change for economic growth and financial stability are 'disconnected' from climate science and perpetuate a bias of inaction in policymakers, as reported by Euractiv. Read more
Reuters: Traders bet ECB will be first big central bank to cut rates
Financial markets are ramping up expectations for interest rate cuts from the European Central Bank (ECB), betting it will be the first major central bank to ease policy to buffer a euro zone economy facing recession in contrast to a robust US, Reuters reports. Read more |
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EBF and S&P Global Market Intelligence Banking on the cloud: Exploring the evolving landscape of digital finance 3:30 - 4:30 (CET) | ONLINE WEBINAR |
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 | In an evolving marketplace driven by the surging demand for digital services, banks are embracing the public cloud to meet customer needs, boost efficiency, accelerate business growth, and stay competitive. Yet, for many organizations, moving to the cloud is more challenging than expected. Key hurdles revolve around governance and regulation. Join our panel of experts as they discuss the key benefits and challenges of public cloud banking in 2023 and beyond. |
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FROM EBF MEMBERS
AEB: Bizum can facilitate the adoption of the digital euro
"For the digital euro to be successful, it must be integrated into the client's financial activity, and add value," said María Abascal, director of the Spanish Banking Association (AEB), at the day on the digital euro organized yesterday by the Bank of Spain. Read more (ES)
NVB: Give financial sector a role in the European Union CS3D
The Dutch Banking Association (NVB), the Dutch Federation of Pension Funds and the Association of Dutch Insurers call for the inclusion of the financial sector in the Corporate Sustainability Due Diligence Directive (CS3D), which aims to require companies to conduct sustainability due diligence to prevent human rights violations and environmental damage in their value chains. Read more
BPFI: November SME Market Monitor
The latest Small and Medium Enterprise (SME) Monitor published by the Banking & Payments Federation of Ireland (BPFI) warns that labour shortages and skills gaps pose a risk to growth in key SME sectors, including construction, while employment numbers in Ireland have reached record levels. Read more |
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FROM THE INSTITUTIONS
ECB: Opinion on the digital Euro
The European Central Bank (ECB) published a document in which it gives its opinion and offers some remarks with regard to the digital Euro project. Read more
SRB: To stop the collapse of a failing bank, the weekend isn't waiting
It is common practice for large failing banks, such as Credit Swiss, to be reorganised over the weekend to avoid confusion among customers and investors. Dominique Laboureix, chairman of the Single Resolution Board (SRB), says in an interview with the Lithuanian newspaper Verslo žinios that there are no rules without exceptions. Read more
BIS: Relationship discounts incorporate bond trading
This working paper published by the Bank for International Settlements (BIS) illustrates how the over-the-counter structure of the corporate bond market makes the value of bilateral interactions particularly important for investors. Read more |
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FROM THE EBF EBIC calls for postponement of the Basel III EU implementation date The European Banking Industry Committee (EBIC) submitted a joint letter to the co-legislators asking for a postponement of the Basel III implementation date in the EU. Given the substantial and comprehensive nature of the forthcoming legislative changes, a minimum of 18 months between the publication of CRR III rules in the Official Journal of the EU and the effective implementation date of the new rules will be necessary. Read more
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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