EBF MORNING BRIEF Thursday 27 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: Rehn sees bets for two more cuts in 2024 as reasonable
Investor expectations for the European Central Bank (ECB) to loosen monetary policy twice more this year — and bring borrowing costs to as low as 2.25% in 2025 — are fair, according to what Governing Council member Olli Rehn told Bloomberg. Read more
Reuters: Euro zone yields edge up before inflation data
According to Reuters, Euro zone government bond yields rose on Wednesday as investors awaited inflation data from the United States and some members of the bloc due on Friday, and the first round of a French legislative election over the weekend. Read more
Euractiv: McGuinness: EU leaders must support bank mergers
EU leaders should support the cross-border merger of banks to bolster the resilience of the Banking Union, European Commissioner for Financial Services Mairead McGuinness said to Euractiv, warning recent amendments to draft deposit insurance rules risk weakening the very bases of the union. Read more |
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MAIN EVENTS
Thursday 27 June
Friday 28 June |
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FROM EBF MEMBERS
SBA: Statement on the “Decision of the Federal Council on the implementation of the final Basel III standard”
The Swiss Bankers Association (SBA) is irritated by the Federal Council's decision to implement the final Basel III standards on January 1, 2025. Switzerland is thus rushing ahead unnecessarily. It disadvantages the Swiss financial center by weakening its competitiveness compared to other international financial centers. Read more (FR)
ABBL: LSFI: Addressing ESG data challenges in finance
The Luxembourg Bankers' Association (ABBL) has published the Luxembourg Sustainable Finance Initiative (LSFI) report on the complexity of Environmental, Social and Governance (ESG) data in the financial sector. This comprehensive analysis aims to highlight current challenges and propose strategic solutions for finance professionals. Read more Finance Latvia: The shadow economy is the biggest obstacle to lending A recently published study on the shadow economy in the Baltics shows that last year the shadow economy in Latvia accounted for 22.9% of GDP, which is 3.6 percentage points less than in 2022. Read more (LAT) |
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FROM THE INSTITUTIONS
ECB: Progress towards euro adoption
Limited progress has been made by non-euro area Member States of the European Union on economic convergence with the euro area since 2022, according to the 2024 Convergence Report of the European Central Bank (ECB). Read more
SRB: Document on bail-in approach in the Banking Union
The Single Resolution Board (SRB) has published a document for banks, investors and other stakeholders on executing its bail-in decision, as well as links to national resolution authorities’ mechanics for bail-in. Read more EBA: AML: new EU framework The European Banking Authority (EBA) is proud to be paving the way for the establishment of the new anti-money laundering and countering the financing of terrorism authority (AMLA) and welcomes the entry into force of the new EU framework that will transform how Europe tackles money laundering and terrorist financing. 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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