EBF MORNING BRIEF Tuesday 10 September 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: Mario Draghi calls for €800bn EU investment boost
Mario Draghi has demanded a “new industrial strategy for Europe”, calling on the EU to raise investments by €800bn a year to fund radical and rapid reform to stop the union falling behind the US and China, The Financial Times (FT) reports. Read more
Bloomberg: ECB’s economic hopes at risk as consumers put spending on ice
Eurozone consumers aren’t rushing to open their wallets — prompting some to ask whether the economic recovery they were supposed to spearhead will ever arrive. According to Bloomberg, the growth in the 20-nation bloc, having outperformed in the first half of the year, is stumbling. Read more
The Banker: European banks’ lending set to rebound after 2024 record low in mortgages
Bank lending in the euro area is poised to recover from next year following two years of stagnation and a record lack of growth in mortgage lending expected for the end of 2024. Total euro area bank lending will rise by 3.1 per cent in 2025 and 4.2 per cent in 2026, according to EY’s analysis based on data from the European Banking Authority and central banks in Germany, France, Spain and Italy published by The Banker. Read more |
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FROM EBF MEMBERS
Finance Latvia: The reduction of pension level 2 contributions undermines confidence in the state pension
Finance Latvia does not support the government's plan to reduce the contribution pension in the 2nd level by 1%, because with such a step the government solves today's problems at the expense of future pensioners or today's workers. Read more (LV)
CBA: Unemployment stagnated in August According to the Czech Banking Association (CBA), the share of unemployed persons stagnated at 3.8% in August, which was in line with analysts' estimates. Without rounding, it rose slightly from 3.77 to 3.82%. Read more (CZ) Finance Norway: Claim statistics for the first half of 2024 The compensation for land-based Norwegian insurance is a total of NOK 34.4 billion so far this year, compared to NOK 29.4 billion last year at the same time. Compensation for motor vehicles increased the most, with NOK 2.7 billion. Read more (NO) |
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FROM THE INSTITUTIONS
EC: Report on Public Finances in EMU 2023
The European Commission (EC) has published its Report on Public Finances in the Economic and Monetary Union (EMU) 2023. The document presents a review of key policy developments and analytical findings in the area of public finances and has a special focus on fostering public and private investments in the European Union. Read more
ESRB: Eighth Annual Conference
The European Systemic Risk Board (ESRB) Annual Conference will take place on 26-27 September. This year’s theme is new frontiers in macroprudential policy. The conference will feature discussions with policymakers, central bankers and academics, with opening remarks from ESRB Chair Christine Lagarde. Read more BIS: Latin America's non-linear response to pandemic inflation This Bank for International Settlements (BIS) paper estimates empirical Taylor rules to analyze the recent monetary policy of the five main Latin American inflation-targeting central banks. 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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