EBF MORNING BRIEF Thursday 12 October 2023 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 needs patience before declaring inflation win
European Central Bank (ECB) Governing Council member Boris Vujcic said it’s too soon to declare victory over inflation. With borrowing costs likely at their peak, there’s a great debate about whether to lift minimum reserve requirements for lenders, Bloomberg reports. Vujcic signaled he’s open to using the tool in a more active way. Read more
Reuters: Euribor revamp aims to attract wider pool of banks
Administrators of the Euribor bank-to-bank lending rate are proposing a revamp of the borrowing benchmark from next year. According to Reuters, the move is the latest step in a fresh bid to try to increase the number of banks that contribute to its calculation. Read more
CoinDesk: EU markets regulator warns of DeFi’s ‘serious risks’
The European Securities and Markets Authority (ESMA) warned of "serious risks" of investors being harmed by decentralized finance (DeFi) despite the innovative technology being in its infancy. As reported by CoinDesk, ESMA promised to look further into the nascent market, which has posed a puzzle for policymakers who are used to pinning regulatory obligations on centralized entities like banks or securities exchanges. Read more |
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MAIN EVENTS
Thursday 12 October
Friday 13 October |
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THE FINANCIAL TIMES Global Banking Summit 2023
27-29 November \ Digital & In-Person
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US-China tensions and banking collapses have placed the world of wealth management under strain. Portfolio managers are seeking respite in alternative allocation strategies. However, whilst private markets are progressively accessible, adoption of digital assets poses regulatory roadblocks.
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FROM EBF MEMBERS
NVB: Combating mortgage fraud with knowledge and cooperation
Combating mortgage fraud is a major challenge because proving fraud is complex due to the complicated constructions used. That is why it is important to share knowledge on this subject and promote cooperation against mortgage fraud, according to the Dutch Banking Association (NVB). Read more (NL)
Finance Latvia: 52% of residents expect real estate prices to rise
The value of the SEB Housing Price Indicator has remained almost unchanged in the fall of this year compared to the spring of 2023 and is 38.2 points, Finance Latvia reports. 51.8% of respondents currently predict an increase in real estate prices in the next 12 months, which is the same number as in the spring. Read more (LAT)
ABI: Discussion on bankers' collective bargaining agreements
Negotiations for the renewal of the national collective labor agreement for bankers continue. The Italian Banking Association (ABI) presented its considerations and proposals, with the related motivations for each of the chapters. Read more (IT) |
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FROM THE INSTITUTIONS
ECB: Structural policies to support income, employment and fairness
The euro area economy has recovered swiftly from the pandemic, supply bottlenecks, and the energy price shock. But there is no room for complacency. Governments need to implement reforms to make European economies stronger and promote social fairness, a blog published by the European Central Bank (ECB) writes. Read more
ESMA: Market developments in DeFi and smart contracts system
The European Securities and Markets Authority (ESMA) publishes two articles on decentralized finance (DeFi), one on developments and risks in the EU market and another on a methodology for the categorization of smart contracts. These articles highlight risks to consumers, new forms of market abuse, and vulnerabilities to financial stability. Read more
BIS: Klaas Knot's speech at the FSR press conference
Klaas Knot, President of the Bank of the Netherlands, spoke at the Financial Stability Report (FSR) press conference about the Eurozone's economic outlook, focusing in particular on the strategy applied by the national central banks in coordination with the European Central Bank (ECB) to contain inflation." 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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