EBF MORNING BRIEF Thursday 6 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
FT: ECB rate cut to breathe life into Eurozone economy
The Eurozone is set for an economic boost on Thursday, when the European Central Bank (ECB) is expected to start cutting interest rates for the first time in almost five years. As noted by the Financial Times (FT), the scale of the impetus will depend on how much further borrowing costs fall, but stubbornly high inflation driven by rapid wage growth could limit the number of rate cuts, analysts say. Read more
Bloomberg: ECB vets banks private equity risks as firms face reckoning
According to Bloomberg, the European Central Bank (ECB) is reviewing how the region’s biggest banks lend to the private equity industry amid a rising threat of corporate defaults. The ECB is carrying out an in-depth assessment involving about a dozen large lenders to ensure they assign appropriate default probabilities to loans made to highly indebted companies, which are often owned by private equity funds. Read more Reuters: ECB to approve Greek banks' request to resume dividend payment after 16 years The European Central Bank (ECB) is expected to approve a request by Greek banks to resume the payment of dividends after 16 years, four bankers told Reuters. The Greek banking sector is returning to normality after the country was rocked by a financial crisis that broke out in late 2009. Read more |
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MAIN EVENTS
Thursday 6 June
Friday 7 June |
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THE SECOND 2024 BANKING ESSENTIALS WEBINAR
Payback time: Assessing credit risk at Europe's banks
in an uncertain climate
Thursday, 13 June 2024 | 2:00 - 3:00 PM (CET) |
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 | European banks have enjoyed strong profits recently on the back of higher interest rates, but credit risk is increasingly in the spotlight. Consumers and businesses are struggling
with higher costs following the recent surge in inflation, putting pressure on loan repayments, while banks’ exposure to risky areas such as leveraged loans
and commercial real estate is a cause of concern for markets.
Join our panel as we discuss the current state of credit risk and asset quality
in Europe, how some economies have rid themselves of huge bad
loan burdens, and where things go from here.
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FROM EBF MEMBERS
Finance Norway: New labour agreement templates adapted to the legislative changes
As of 1 July 2024, there are new and expanded requirements for the content of employment contracts. Finance Norway has adjusted the labour agreement templates so that the new minimum requirements are met. The templates are adapted to finance and collective agreements. Read more (NO)
Finance Latvia: 2% growth is predicted this year
Banka Citadele has reviewed the macroeconomic forecasts for Latvia and maintains the growth forecast for this year unchanged: Latvia's GDP will grow by 2% in 2024, while GDP growth will accelerate to 2.8% in 2025. Read more (LAT)
EBA: Banks offer companies a free calculator for GHG emissions
As reported by the Estonian Banking Association (EBA), a greenhouse gas (GHG) emission calculator has been developed on the initiative of the banking associations and financial companies of the three Baltic states, which helps companies estimate the CO2 footprint of their operations. Read more (ET) |
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FROM THE INSTITUTIONS ECB: Euro area bank interest rate statistics: April 2024 The European Central Bank (ECB) has shared the Eurozone bank interest rate statistics for April 2024. The composite cost-of-borrowing indicator, which combines interest rates on all loans to corporations, showed no change in April 2024. Read more
ESAs: Memorandum of Understanding with ENISA
The European Supervisory Authorities (ESAs) announced that they have concluded a multilateral Memorandum of Understanding to strengthen cooperation and information exchange with the European Union Agency for Cybersecurity (ENISA). Read more
BIS: Project mBridge reaches minimum viable product stage
Project mBridge has reached the minimum viable product stage, while broadening its international reach. According to the Bank for International Settlements (BIS), the project aims to explore a multi-central bank digital currency platform shared among participating central banks and commercial banks, built on distributed ledger technology to enable instant cross-border payments and settlement. 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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