EBF MORNING BRIEF Thursday 15 December 2022 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 Reuters: ECB sees inflation above target through 2022 The European Central Bank (ECB) expects inflation to remain above its 2% target for the next three years, one source told Reuters, more than markets currently expect and signaling its fight against runaway prices is far from over. Read more
FT: Falling eurozone factory output offers ECB reason to slow rate rises
Eurozone production fell more than expected in October, adding to signs the bloc is heading for a recession this winter and making it more likely the European Central Bank (ECB) will opt for a smaller rise in interest rates this week. October’s decline was deeper than the 1.5 percent drop expected by economists, says the Financial Times (FT). Read more
S&P Global Market Intelligence: The Road to Basel IV: Navigating the challenge facing European banks
The transition to the new Basel IV rules will pose a number of challenges for European banks. The latest Banking Essentials Webinar, co-hosted by S&P Global Market Intelligence and the European Banking Federation, delved into some of the challenges and their potential solutions. Read more |
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MAIN EVENTS Thursday 15 December Friday 16 December
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS Finance Denmark: New government focuses on cooperation Finance Denmark looks forward to good cooperation with the new government, where the current crisis requires cooperation and joint solutions. Finance Denmark notes several interesting topics in the government's foundation, both in terms of inflation aid, over-implementation, associations, digital cash registers, and rural areas. Read more (DK) BdB: Metaverse: A new reality for banking? The Association of German Bank (BdB) explains what Metaverse is and what it could mean for banks. In particular, while the decentralized Web 3.0 is a vision of the Internet of the future, the Metaverse builds on the architecture of Web 3.0 and stands for the vision of an immersive Internet that integrates seamlessly into our daily lives. Read more (DE) FBF: Dominique Garnier elected Chair of Grand Est Banking Committee The French Banking Federation (FBF) Grand Est Banking Committee met in General Assembly and elected Dominique Garnier, CEO of BPALC, as its Chair, who will take up his duties on January 1, 2023. The Banking Committee brings together all the banking companies in the region. It relays the positions and actions of FBF. Read more (FR) |
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 | The EBF and EY launched a joint report at COP27 exploring the effects of the current geopolitics and macroeconomic circumstances on banks' Net-Zero agendas. According to the findings, despite a short-term hit to transition agendas, European banks remain fully committed to Net Zero. |
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FROM THE INSTITUTIONS
ECB: Euro area pension fund statistics: third quarter of 2022
According to the Euro area pension fund statistics by the European Central Bank (ECB), total assets of euro area pension funds amounted to €2,968 billion in the third quarter of 2022, €68 billion lower than in the second quarter of 2022. Read more ESMA: Supervision of cross border activities of investment firms The European Securities and Markets Authority (ESMA), published a Supervisory Briefing to ensure convergence across the EU in the supervision of the cross-border activities of investment firms. The free provision of services in the EU rests on the supervision of the home NCA and on the cooperation between home and host supervisors. Read more
EBA: First thematic review on the transparency and level of fees and charges for retail banking products in the EU
The European Banking Authority (EBA) published a thematic review on the transparency and level of fees and charges levied by financial institutions (FIs) on retail banking products in the EU. Overall, the review finds that fees and charges vary greatly in terms of level and type not only across the EU market but also across FIs within the same jurisdiction. Furthermore, the variety of types for fees and charges cause different levels of detriment to consumers. Read more |
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FROM THE EBF
EBF: Facts and Figures 2022
The European Banking Federation (EBF) has published Facts & Figures 2022, its annual update on the banking sector in Europe. Data from 2021 show that, despite the Covid crisis and relatively low profitability, European banks played a key role in Europe’s financial system while continuing the structural transformation of the sector. 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.
For questions or suggestions contact v.barbieri@ebf.eu
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