EBF MORNING BRIEF Thursday 15 February 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: ECB needs more data to be sure on inflation, Guindos says
The European Central Bank (ECB) requires additional evidence that inflation is returning to its goal before it can safely begin loosening monetary policy, according to Vice President Luis de Guindos. He warned that there’s still large uncertainty around the ECB’s quarterly forecasts and it’s essential to look at them alongside data, Bloomberg reports. Read more
The Banker: European banks’ financial data paints positive picture
Analysts tell The Banker that 2023’s full-year results were in line with expectations, leaving banks well-placed to weather any storm in 2024. Read more
FT: EU scales back ambitions for post-Brexit clearing land grab
Opposition from banks and Franco-German tensions are seen as undermining early plans for a more substantial land grab, according to the Financial Times (FT). The deal “is relatively soft and is not going to lead to a significant shift in activity” out of London, said William Wright, founder of think-tank New Financial. In terms of addressing financial stability concerns, the EU “can just about claim that this achieves that”, he added. Read more |
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MAIN EVENTS
Thursday 15 February
Council Working Party on the Environment EBI Global Academic Conference 2024 (Gonzalo Gasos, EBF Senior Director of Prudential Policy & Supervision, speaking) Friday 16 February Council Working Party on the Environment |
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FROM EBF MEMBERS
BdB: Use of AI in banks - opportunities & challenges
In an increasingly digitalized world, banks are striving to offer their customers even more efficient and customized services. The Association of German Banks (BdB) tries to analyze the potential that Artificial intelligence (AI) may have in the banking sector and how customers can benefit from it. Read more (DE)
Finance Denmark: The Danes' desire to invest is back
In January investors bought investment certificates in Danish funds for 3.7 billion DKK, Finance Denmark reports. The relatively large net purchase comes after two years when investors have generally stopped investing in the funds. The renewed desire to invest is likely due to a mixture of economic optimism and dividend reinvestment. Read more (DK)
ABBL: A place where bankers meet FinTech founders
The Bank CEO – FinTech Speed Meeting by the Luxembourg Bankers Association (ABBL) is an annual gathering bringing together C-level executives from financial institutions to explore cooperation opportunities and spark ideas. Read more |
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FROM THE INSTITUTIONS
ECB: People’s freedom to use a public means of payment
Cash and digital euro have the same objective: ensuring everyone, regardless of their income, can pay in any situation of daily life, says European Central Bank (ECB) Executive Board member Piero Cipollone. This fundamental right should be protected in the same way in all parts of the euro area. Read more
EC: Annual Single Market and Competitiveness Report
The European Commission (EC) published the Annual Single Market and Competitiveness Report. The report recalls that the Single Market is one of the world's largest integrated market areas and that it boosts the EU's economy. However, it also points to the need to step up enforcement of agreed rules and to simplify their implementation. Read more
Council: ESG ratings: Council and Parliament reach agreement
The Council and European Parliament reached a provisional agreement on a proposal for a regulation on environmental, social, and governance (ESG) rating activities, which aims to boost investor confidence in sustainable products. Read more |
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FROM THE EBF
EBF: European business calls for deepening the EU Single Market and renewing the dynamic of European integration
In the Joint Statement issued today, this coalition of European associations underlines the need for renewed focus on deepening the Single Market. The statement puts forward clear logic for fresh political investment in the Single Market and its relevance for citizens, companies, and the future of the EU. Read more
EBF: Response to Call for Evidence on the Report on the GDPR (Art. 97)
This response complements the questionnaire response provided to the European Commission Multi-Stakeholder Expert Group of which the European Banking Federation is a member of. The introduction of the GDPR resulted in a significant increase in the attention to and the application of data protection rules. Read more
EBF: EFRAG ESRS Implementation Guidance consultation
The European Banking Federation (EBF) welcomes EFRAG’s development of the ESRS implementation guidance considering the significant complexity of the standards and the importance of ensuring the preparation of comparable and qualitative disclosures. The future and timely elaboration of specific guidance for financial institutions would be equally important and necessary given the role they have in financing the economy. 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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