EBF MORNING BRIEF Thursday 11 April 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: Traders pare ECB cut bets after US CPI, all eyes on Lagarde
Traders pared bets on European Central Bank interest-rate cuts after US inflation topped forecasts, with markets now turning their attention to President Christine Lagarde’s remarks on Thursday. According to Bloomberg, the moves, which followed data showing underlying US inflation exceeded economist forecasts for a third straight month, raised the stakes for the upcoming ECB policy decision. Euro-area officials are expected to hold rates steady but signal readiness to start easing in coming months. Read more POLITICO: EU hints at relaxing global bank rules in face of US delays EU has signaled it could relax the way it pushes through controversial international banking standards if it believes that's what's needed to better compete with the rest of the world. The European Commission “stands ready to act if necessary” in light of “the uncertainty around the implementation of the standards in other jurisdictions and the importance of having an international level-playing field,” a spokesperson told POLITICO. Read more
The Banker: ECB’s collateral policy criticised for favouring high-carbon assets
The assets of more than 30 oil, gas and coal companies whose strategies are not aligned with a 1.5C pathway were accepted as eligible collateral by the European Central Bank’s (ECB) lending operations, according to new research published by non-profits Reclaim Finance and Urgewald, The Banker reports. Read more |
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MAIN EVENTS
Thursday 11 April
Friday 12 April
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FROM EBF MEMBERS
SBA: Response to the Federal Council report on banking stability
It is vital to learn the right lessons from the Credit Suisse crisis and close the gaps in Swiss regulation. The Federal Council’s report achieves this in certain areas, notably liquidity and personal responsibility, but it lacks a clear focus and, in proposing more than 20 measures, is in danger of going overboard, the Swiss Banking Association (SBA) reports. Read more
UK Finance: ATS: A New Type of Malware Threat
According to UK Finance, there’s a new threat out there. One that lies dormant, waiting for the perfect time to strike. This threat is now the modus operandi for several complex strains of malware that bypass existing detection mechanisms. Automatic Transfer System, or ATS fraud, is on the rise. Read more
Finance Denmark: Highest number of new houses for sale in 16 years
A record number of Danes put their house up for sale in March. Not since spring 2008 have so many houses been put up for sale in one month, and the total number is now the highest since 2020. This is shown by the latest figures from Finance Danmark. Read more (DK) |
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FROM THE INSTITUTIONS
ECB: Households and non-financial corporations in the euro area
The European Central Bank (ECB) published its new report on households and non-financial corporations in the euro area: fourth quarter of 2023. Households' financial investment increased at unchanged rate of 1.9% in fourth quarter of 2023, findings show. Read more
ESAs: First recruitments to set up DORA joint oversight team
The European Supervisory Authorities (ESAs) today published three vacancy notices in the context of the Digital Operational Resilience Act (DORA). This announcement comes as part of the establishment of a fully integrated team within the 3 ESAs (“joint oversight team”) to carry out the oversight of critical third-party providers (CTPPs) required by DORA. The team will include a Director, Legal Experts and ICT Risk Experts. Read more
BIS: Stablecoins: regulatory responses to their promise of stability
Stablecoins are gaining traction in the mainstream financial sector, presenting both opportunities and challenges. They hold the promise to mirror the value of fiat currencies but consistently achieving value parity remains a challenge. This Bank for International Settlements (BIS) paper assesses the evolving regulatory landscape for issuers of single fiat-pegged stablecoins. 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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