EBF MORNING BRIEF Thursday 13 June 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: ECB flags euro risks from Russia as global forex reserves dip
The euro’s share of global foreign exchange holdings fell last year amid concerns that plans to use frozen Russian assets to finance Ukraine could further erode the appeal of Europe’s single currency, the Financial Times reports. According to the European Central Bank (ECB), other countries cut euro assets in their reserves by about €100bn last year. Read more
Bloomberg: Bank of France urges clarity as elections shake markets
France’s next government must quickly clarify its economic policy as investors rattled by snap elections dump the country’s debt and drive up borrowing costs, Bank of France Governor Francois Villeroy de Galhau said as reported by Bloomberg. Read more
Euractiv: Europe needs capital investment now, says Invest Europe
According to Euractiv, scalability for Europe’s innovators requires private capital, climate change and digitalisation demand that capital quickly. Europe needs more investment in key sectors to drive its place in the world, says Invest Europe echoing Enrico Letta's historic report for the European Commission on the future of the single market. Read more |
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MAIN EVENTS
Thursday 13 June
Council Working Party on the Environment Friday 14 June Council Horizontal Working Party on Cyber Issues Council Working Party on the Environment |
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FROM EBF MEMBERS ABBL: Building a sustainable and innovative banking future Over 300 professionals attended the Banking Universe Summit 2024 on 11 June at Philharmonie Luxembourg. The summit, co-organised by the Luxembourg Bankers' Association (ABBL) and The Dots, provided an invaluable platform for networking, learning and discussing the future of banking in the digital age. Read more NVB: Banks and defense financing: an open dialogue Various geopolitical developments have made the world less stable and safe in recent years. The Dutch Banking Association (NVB) therefore understands the political and social desire for the development of a strong European defense industry. Read more (NL)
Finance Denmark: Good measures in the government's strategy
The government has presented its strategy for entrepreneurship, which contains a set of tax breaks. "We share the government's ambition to create the best possible framework for entrepreneurship" stated Ulrik Nødgaard, Finance Denmark's CEO. Read more (DK) |
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FROM THE INSTITUTIONS
ECB: Why Europe must safeguard its global currency status
The euro must remain competitive to preserve its status as a global currency. Efforts are needed to strengthen its appeal to foreign investors and further develop the infrastructure for cross-border payments in euro with key partners, says European Central Bank (ECB) Executive Board Member Piero Cipollone. Read more
BIS: Project Viridis: a climate risk platform for financial authorities
Central banks recognise that climate change and the transition to a low-carbon economy are sources of financial risks. In response to these challenges, the Bank for International Settlements (BIS) launched Project Viridis to explore the development of a climate risk platform that could help identify material climate-related financial risks. Read more European Council: Retail investment package The Council reached an agreement on strengthening the EU’s rules on retail investor protection. The retail investment package aims to support individual consumers who wish to invest on the EU’s capital markets, by better protecting their investments, providing them with clearer information and ensuring more transparency and disclosure. 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.
For questions or suggestions contact r.hrelja@ebf.eu European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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