EBF MORNING BRIEF Thursday 20 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
Bloomberg: ECB: Eurozone Nations’ public finances are major risk
Euro-area members must start reducing debt in the face of enormous long-term fiscal risks from ageing populations, defence spending and climate change, the European Central Bank (ECB) cautioned. “These developments will be challenging enough in isolation, and countries will face all of them simultaneously,” it said in an article quoted by Bloomberg. Read more
Reuters: Why Eurozone banks don't yet buy into cross-border mergers
EU policymakers have renewed calls for cross-border bank mergers as they look to address the multi-trillion euro investments needed to finance the bloc's green and digital transformation. According to Reuters, a plan for a fully-fledged banking union has stalled and bankers point to the absence of a joint guarantee system for eurozone depositors as the biggest impediment to its progress. Read more
FT: ECB urges Eurozone countries to cut high levels of debt
Eurozone countries are facing “significant fiscal burdens” from ageing populations, extra defence spending and climate change, making it more urgent that they cut their high debt levels, the European Central Bank (ECB) has warned. Accordinf to the Fiancnial Times (FT), officials at the central bank estimate Eurozone countries have to reduce their budget deficits by an average of 5 percentage points of GDP, which would require savings or extra revenue of €720bn at current output levels. Read more |
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MAIN EVENTS
Thursday 20 June
Friday 21 June |
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European Commission Joint Research Centre 6th Summer School on Sustainable Finance |
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 | This summer, the 6th edition of the Summer School on Sustainable Finance, organized
by the Joint Research Centre (JRC) of the European Commission, will take place
in a hybrid format on June 27 and 28. The summer school will cover topics
such as climate risks, environmental degradation, nature-related
financial risks, EU sustainability regulation, and carbon emissions.
Registration is free, encouraging diverse attendance for vital cross-sector discussion.
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FROM EBF MEMBERS
NVB: European Capital Market Union positive for consumers, companies and the financial sector
In the position paper the Dutch Banking Association (NVB) calls on policymakers to commit to the rapid completion of the Capital Market Union, with a level playing field for banks and a strong global competitive position for the European financial sector. Read more (NL)
FBF: Partnership with Action'elles to promote female entrepreneurship
Since 2018, the French Banking Federation (FBF) has supported the Action'elles association. The signing of the partnership makes it possible to strengthen collaboration in supporting female entrepreneurs. Read more (FR)
SBA: Welcoming of the Federal Council’s decision for self-regulation to prevent greenwashing
The Asset Management Association (AMAS), the Swiss Bankers Association (SBA) and the Swiss Insurance Association (SIA) welcome the Federal Council's decision to continue to rely on self-regulation to prevent greenwashing and to temporarily refrain from statutory regulation at the ordinance level. Read more (DE) |
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FROM THE INSTITUTIONS
ECB: Longer-term challenges for fiscal policy
Issues like ageing populations, increased defence costs, digitalisation and climate change will place heavy burdens on euro area government finances in the decades ahead. This European Central Bank (ECB)'s article shows that economic policies should aim to gradually reduce public debt and prepare for the future. Read more
EBA: Publication of regulatory products under MiCAR
The European Banking Authority (EBA) published the package of technical standards and guidelines under the Markets in Crypto-Assets Regulation (MiCAR) on the topics of reporting, liquidity stress testing and supervisory colleges. Read more ESMA: Withdrowal of the CRA registration of EuroRating The European Securities and Markets Authority (ESMA) has withdrawn the credit rating agency (CRA) registration of EuroRating. The list has been updated. 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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