EBF MORNING BRIEF Thursday 19 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
Reuters: ECB's Wunsch says weaker euro may take edge off US tariffs
A weaker euro falling to parity with the dollar would cushion the impact of any new U.S. tariffs on euro zone growth although it would push up inflation, European Central Bank policymaker Pierre Wunsch told Reuters on Wednesday. Read more
The Banker: Why culture should be financial regulators’ priority in 2025
According to The Banker, When the vast majority of incumbent governing parties in developed nations lose vote share in one year, it signals something profound about public trust. The message conveyed by the elections of 2024 is unambiguous: voters want change. 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 19 December Bank of England: Monetary Policy Summary and minutes of the Monetary Policy Committee meeting (December 2024) ECB: Euro area investment fund statistics (Oct. 2024) Friday 20 December Swiss National Bank: Swiss balance of payments and Switzerland’s international investment position (Q3 2024) Bank of England: Consolidated worldwide claims (2024 Q3) ECB: Monthly indicators on government debt securities (Nov. 2024) |
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FROM EBF MEMBERS Czech Banking Association (ČBA): Winners of the first CyberGame The best knowledge in the field of cyber security in the CyberGame 2024 competition was shown by the students of the Christian Grammar School in Hostivar, Prague. The second place went to the Ivan Sekanina Primary School from Ostrava-Poruba and the third place went to the students of the Havířov-Podlesí Gymnasium. A total of 410 teams from all over the Czech Republic took part in the competition. The three most successful pairs will receive a financial reward from the Czech Banking Association. Read more
Finance Latvia: Swedbank donates more than 70,000 euros to support children and youth
At the end of December, Swedbank will provide support to non-governmental organizations that assist children and youth in need. This year, Swedbank employees allocated 70,000 euros through a voting process, providing significant support to five organizations: the association "Mentor Latvia," the foundation "Ziedot.lv," the association "Resilience Center," the association "Dr. Klauns," and the association "Let's Help Each Other," led by Edijs Pipars. Read more (LV)
Luxembourg Bankers' Association (ABBL): New EU banking regulation: A triple wave of challenges for banks
The European Union's new Capital Requirements Regulation (CRR3), set to come into effect on 1 January 2025, aims to enhance financial stability through stricter capital requirements. However, the ABBL has warned that the regulation, aligned with the Basel IV framework, could significantly disrupt banks' ability to lend, thereby impacting critical sectors like real estate development and innovation financing. Read more |
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FROM THE INSTITUTIONS ECB: The euro area outlook and monetary policy Philip R. Lane outlined the European Central Bank's decision to lower the deposit facility rate by 25 basis points, citing improved inflation projections and easing wage pressures, which signal progress in achieving the 2% inflation target. While financing conditions remain restrictive, Lane emphasized a cautious, data-dependent approach to future monetary policy adjustments to balance risks to inflation and economic momentum. Read more
EIOPA: EIOPA and ECB propose European approach to reduce economic impact of natural catastrophes
European Insurance and Occupational Pensions Authority (EIOPA) and the European Central Bank (ECB) released a joint paper with a proposal designed to reduce the economic impact of natural catastrophes in the EU. The paper builds on the policy options presented in a 2023 joint ECB-EIOPA discussion paper which advocated a ladder approach to natural catastrophe insurance involving both the private and public sectors. Read more Council: Better data sharing: Council and Parliament strike deal on financial reporting requirements The Council and Parliament reached a provisional agreement to simplify certain reporting requirements in the field of financial services and investment support (better data sharing). The new regulation will reduce administrative burden for authorities in the financial sector, by simplifying existing rules on data sharing between the European Supervisory authorities (ESAs) and other financial sector authorities and by limiting new reporting requirements. Read more |
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FROM EBF
Facts&Figures 2024
The European Banking Federation (EBF) has published Facts & Figures 2024, its annual update on the banking sector in Europe. Building on 2023 data from the European Central Bank (ECB), the statistical publication provides users with a unique perspective on the structure, performance, lending, and deposit trends in European banking alongside a country-by-country overview. Read more
New Report of the C-ESG Risk Roundtable Data Workstream
The latest report from the Data Workstream of the C-ESG Risk Roundtable explains how climate change and biodiversity- and ecosystems-related disclosures from non-financial corporates under the CSRD can be utilized by banks for risk management purposes. It serves as a starting point for fostering better dialogue between banks and non-financial corporates, ultimately contributing to key processes such as customer due diligence, customer risk assessments, and credit ratings. 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 r.hrelja@ebf.eu European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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