EBF MORNING BRIEF Thursday 7 March 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
CNBC: Markets may get an early hint on when ECB will cut rates
The European Central Bank (ECB) will meet this week amid falling inflation, a slight recovery in economic activity and the overall understanding that its next interest rate move will be downward. “Unlike in previous meetings, the question of the timing of a rate cut will now be on the agenda,” said Natixis ECB watcher Dirk Schumacher as quoted by CNBC. Read more
Reuters: Euro is back on the scene for global central banks
Once hurt by crises and deflation, the euro is gaining popularity among central bank reserve managers thanks to a return to positive rates and geopolitics challenging king dollar's appeal. As Reuters reports, roughly one in five of the 75 central banks surveyed by OMFIF think-tank anticipate increasing euro holdings over the next two years. Read more
S&P Global Market Intelligence: Deutsche Bank must deliver results to convince market of cost targets
Deutsche Bank must work to convince investors that its ambitious new cost goals are achievable. The bank's earnings reports show it has been unable to establish a consistent trajectory on costs over recent years. It must show it can deliver "cleaner" earnings in the future as there are still many "moving parts on the cost side" for now, Morningstar DBRS credit analyst Sonja Forster previously told S&P Global Market Intelligence. Read more |
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MAIN EVENTS
Thursday 7 March
Council Working Party on Tax Questions (Direct Taxation)
Friday 8 March
Council Horizontal Working Party on Cyber Issues Council Working Party on the Environment |
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THE FIRST 2024 BANKING ESSENTIALS WEBINAR
Navigating the Green Asset Ratio: What can it tell us about the sustainability performance of banks?
Thursday 14 March 2024 | 3:00 - 4:00 PM (CET)
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Investors are demanding more sustainability related disclosure, and regulators are also closely monitoring the impact of climate change on companies and financial institutions. In principle, the GAR is a simple ratio quantifying EU Taxonomy-aligned assets as a percentage of total covered assets. As banks disclose their GAR alignment for the first time, what does it tell us about their sustainability performance and efforts to finance the green transition? Can GAR be considered an indicator of progress on meeting institutions’ sustainability commitments? In this upcoming webinar you can learn how to navigate GAR and also what to expect from the upcoming revision to improve its usability. |
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FROM EBF MEMBERS
FBF: For a sovereign Europe with sustainable growth: French banks' proposals for 2024-2029
As part of an event it is organising in Brussels, the French Banking Federation (FBF) is publishing "For a Sovereign and Sustainable Growing Europe", a document listing the proposals of French banks for the period 2024-2029. Read more (FR) ABI: The sector's commitment to inclusion and diversity Banks active in diversity and inclusion policies. A commitment that supports the enhancement and diversification of skills, starting from internal ones, and the development prospects of the companies themselves, in terms of both competitiveness and innovation. This is what emerged at the opening of 'D&I in Finance', the event promoted by the Italian Banking Association (ABI) on inclusion and valuing diversity. Read more (IT)
ABBL: Accelerating mutualisation in the financial services sector
As a hub of the global financial landscape, Luxembourg continues to lead the way in innovation in the financial services sector. In a joint effort to promote collaboration and efficiency, the Luxembourg House of Financial Technology launched a pioneering programme to speed up mutualisation. Together with the The Luxembourg Bankers' Association (ABBL), it aims to revolutionise the industry through shared resources and solutions. Read more |
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FROM THE INSTITUTIONS
EIOPA: Monthly technical information for Solvency II RFR
Today, the European Insurance and Occupational Pensions Authority (EIOPA) published technical information on the relevant risk-free interest rate term structures (RFR) with reference to the end of February 2024. The RFR information has been calculated on the basis of the Technical Documentation. Read more
European Council: Cyber solidarity package
To strengthen EU’s solidarity and capacities to detect, prepare for and respond to cybersecurity threats and incidents and enhance its cyber resilience, the Council and the Parliament’s negotiators reached a provisional agreement on the so-called ‘cyber solidarity act’, as well as on a targeted amendment to the cybersecurity act (CSA). Read more
ESRB: Response to the consultation on draft ITS specifying certain tasks of collection bodies and certain functionalities of the ESAP
The European Systemic Risk Board (ESRB) Secretariat has taken note of the consultation paper on the draft ITS specifying certain tasks of collection bodies and functionalities of the European single access point (ESAP). 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.
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