EBF MORNING BRIEF Thursday 12 December 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
FT: Who should foot the bill for cyber scams?
When California lawyer Christopher Pitet became a victim of payment fraud earlier this year, the email, as the classic horror movie trope goes, came from inside the house. A client of Pitet’s had recently settled a legal dispute and the lawyer received an email, seemingly from the opposing attorney, with instructions of where to send the $59,517.50 agreed in the settlement. He promptly wired the full amount over, as requested, writes Financial Times. Read more
The Banker: UniCredit’s bid for BPM: key players and stakes
According to The Banker, Crédit Agricole has further entangled the battle over Banco BPM by increasing its holdings in the Italian lender, which also faces a takeover bid by UniCredit. The national government reportedly opposes UniCredit’s bid, inadvertently underscoring the complexity of carrying out banking mergers in Europe, even at a domestic level. Read more
Risk.net: Banks feel regulatory heat on op resilience
In the latest round of Risk.net’s Operational Risk Benchmarking survey, five large banks said their primary regulator’s focus on operational resilience had increased “significantly” during the preceding 12 months. Read more |
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MAIN EVENTS
Thursday 12 December
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Swiss National Bank: Monetary policy
assessment -
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ECB: Press conference following the Governing Council meeting -
Council Working Party on Financial Services and the Banking Union (Financial Services) -
Council Fiscal Counselors/Attaches Meeting
Friday 13 December -
Bank of England, Ipsos: Inflation Attitudes Survey – November 2024 -
Semi-Annual Forecasts of the Deutsche Bundesban -
Council Working Party on Financial Services and the Banking Union (Financial Services) -
ECB: Securities issues statistics (Nov. 2024)
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FROM EBF MEMBERS Finance Latvia: In ten months, the financial sector has protected more than 10 million euros from fraudsters Data compiled by the Financial Industry Association (FNA) shows that in the first ten months of this year, four of the largest banks in Latvia successfully prevented financial fraud attempts and safeguarded client funds amounting to more than 10 million euros. However, during the same period, fraudsters managed to scam over 13 million euros. The most common fraud cases involve investment scams (78% of cases prevented) and phone scams (51% of cases prevented). Read more (LV)
Finance Denmark: Fewer and More Expensive Apartments for Sale
Danish condominium buyers had fewer and more expensive options at the end of November this year compared to the same month last year. This is especially true for Denmark's largest condominium markets: Copenhagen and Frederiksberg. These are the latest figures from Finans Danmark. Read more (DK)
Luxembourg Bankers' Association (ABBL): Sustainable finance in Luxembourg: A maturing ecosystem
The Luxembourg Sustainable Finance Initiative (LSFI), in collaboration with PwC Luxembourg, has unveiled the third edition of its annual study, "Sustainable Finance in Luxembourg 2024: A Maturing Ecosystem". This comprehensive report provides a detailed analysis of the state of sustainable finance in Luxembourg, offering key insights into the trends, challenges, and opportunities shaping the financial sector. Read more |
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FROM THE INSTITUTIONS EC: European Commission to issue €90 billion in long-term EU-Bonds in the first half of 2025 The Commission intends to issue up to €90 billion of EU Bonds in the first half of 2025 (H1), from January to June 2025. The Commission's funding plan for H1 2025 continues the 2024 issuance programme, during which the EU raised €138 billion in long-term funds. Read more
Council: Taxation: Council adopts new rules for withholding tax procedures (FASTER)
The Council adopted new rules setting up safer and faster procedures to obtain double taxation relief that will encourage cross-border investment and help fight tax fraud. Read more |
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FROM 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.
For questions or suggestions contact r.hrelja@ebf.eu European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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