EBF MORNING BRIEF Thursday 12 September 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
POLITICO: ECB to cut interest rates, but keep cautious stance amid uncertainty
On Thursday, the European Central Bank (ECB) is universally expected to cut its key interest rate to 3.5 percent from 3.75 percent, reassured by recent data that inflation is now within reach of its 2 percent target, POLITICO reports. Read more FT: UniCredit’s push for European bank consolidation looks on target According to the Financial Times (FT), UniCredit was always likely to lead the next wave of bank consolidation in Europe. The Italian group has amassed a 9 per cent stake in Commerzbank — spending about €1.4bn — as a prelude to a possible tie-up. Read more
The Banker: UK customers more likely to switch banks than European peers
UK bank customers are more likely than their European counterparts to hold multiple accounts, including with fintechs, according to new research by consultancy Kearney published by The Banker. Read more |
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MAIN EVENTS
Thursday 12 September
Friday 13 September |
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Launch of a new C-ESG Risk Roundtable report
Thursday, 26 September - 3:15 PM (CET)
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 | Environmental factors could be a source of financial risk. It is therefore essential to step up efforts to ensure that risks are properly identified, understood, measured and managed. While banks are making progress, they are facing numerous operational and implementation challenges, many of which are neither originated, nor inherent to the banking industry.
While some will need to be addressed at the level of individual organizations, others will benefit from collaborative approaches. To further strengthen the dialogue within the banking sector and with the European Central Bank (ECB), a high-level Environmental, Social, and Governance Risk Roundtable (C-ESG Risk RT) was set up by the European Banking Federation (EBF) with the participation of 13 European banks.
On 26 September, we will be launching the fourth report of the C-ESG Risks RT resulting from the discussions of its Physical Risk workstream.
The report will be available on the EBF website on 26 September,
after the launch event. |
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FROM EBF MEMBERS
Finance Norway: Seize the chance to increase IPS in the budget
In the Pension Settlement which was concluded in February 2024, the majority of the parties in the Storting agreed to raise the savings limit for individual pension savings (IPS) to NOK 25,000 per year. Read more (NO)
Finance Latvia: Global and Baltic stock markets in August
August was full of events not only in the foreign, but also in the Baltic stock market. Amid concerns over high equity valuations and mixed economic signals, volatility in financial markets increased. Read more (LV) FBF: 2025 Calendar The French Banking Federation (FBF) has published the calendar of days of closure of the euro payment, clearing and settlement systems in France in relation to the TARGET2 system calendar for the year 2025. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: Adapting to technological shifts: supervision in the evolving financial landscape
The European Central Bank (ECB) has published the Contribution by Elizabeth McCaul, Member of the Supervisory Board of the ECB, for Eurofi Magazine. Read more
BIS: How finance can continue to support growth in EMEs
In emerging market economies (EMEs), finance has been key to economic development. To keep the momentum, these economies face the challenge of adapting their financial systems to ensure that finance continues to contribute positively to growth, the Bank for International Settlements (BIS) reports. Read more
EIOPA: Proposition of a broad reform of the PEPP to tackle Europe’s pension gap and support the digital and green transitions
The European Insurance and Occupational Pensions Authority (EIOPA) has published a Staff Paper on the future of the Pan-European Pension Product (PEPP). The paper sets out the reasons behind the limited uptake of the PEPP and suggests improvements to its design to overcome supply-side, demand-side and structural barriers hindering its broader adoption. 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.
For questions or suggestions contact r.hrelja@ebf.eu European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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