FROM THE MEDIA

EU Reporter: ECB see rising risk of rate hitting 2% to curb inflation

The European Central Bank (ECB) is assessing whether to raise key rate to 2% or higher to stem record-high inflation in Europe's eurozone despite a possible recession. Sources heard by EU Reporter said that this would likely occur if the ECB's 2025 inflation projection, which is due to be published in December, is still above 2%. Read more

Reuters: ESMA considers measures to ease energy market strains

As reported by Reuters, the European Securities and Markets Authority (ESMA) said it was "actively considering" potential measures to ease strains in energy markets where some participants face difficulties in finding enough cash to cover positions. "Any measures need to be carefully evaluated and considered, to ensure they bring the benefits without increasing financial stability risks in the system," a ESMA spokesperson added. Read more

Bloomberg: Truss’s stimulus to boost UK lenders, Deutsche Bank says

The “extraordinarily loose” fiscal policy announced by UK Prime Minister Liz Truss is set to benefit UK banking stocks, analysts at Deutsche Bank said. The package will probably prevent a short-term collapse in the economy, and at the same time encourage further interest-rate rises from the Bank of England, Bloomberg reports. Read more

MAIN EVENTS

• Council Horizontal Working Party on Cyber Issues

• Economist Impact 'ESG and Climate Risk Week'

• Eurisy ‘Space 4 Critical Infrastructure: Banking & Financial Market Infrastructures’ event

• EBF ‘Spotlight on sustainability: How banks can overcome the challenges of achieving Net-zero by 2050’ webinar

• ENISA 'European Cybersecurity Challenge 2022' training

• VIXIO 'The Road Ahead: PSD2 becomes PSD3' event

• FS-ISAC Europe Summit 2022

For a full-year overview of key financial regulation events: click here

FROM THE EBF MEMBERS

Finance Norway: Front finance, equality and bonus challenges

Equality and bonuses are again on the agenda, Finance Norway writes. The new report "Gender equality in finance 2.0 - On the way to more equal opportunities?" by CORE points to challenges in frontline finance and gives insights into a small part of the financial industry where the competition for customers and competent labor is fierce. Read more (NO)

CBA: Inflation slowed slightly to 17.2%

Inflation slowed slightly from 17.5% to 17.2% in August, data published by the Czech Banking Association (CBA) shows. The main factor in the slowdown in inflation was the drop in fuel prices, which fell by 10% compared to July. Read more (CZ)

Finance Latvia: Luminor supports Kotiņi with 3 million euros

To promote the expansion and development of the Kotiņi farm, as well as the diversification of production, Luminor Bank granted a loan of 2.9 million euros. According to Finance Latvia, the financing is planned to be used for the creation of granulation and extruding complexes, as well as for the purchase of agricultural machinery. Read more (LAT)

FROM THE INSTITUTIONS

ESAs warn of rising risks amid a deteriorating economic outlook

The three European Supervisory Authorities (ESAs) issued their Autumn 2022 joint risk report. The report highlights that the deteriorating economic outlook, high inflation and rising energy prices have increased vulnerabilities across the financial sectors. The ESAs advise national supervisors, financial institutions and market participants to prepare for challenges ahead. Read more

EBA: Opinion on measures to address macroprudential risk following notification by De Nederlandsche Bank

The European Banking Authority (EBA) published an Opinion following the notification by De Nederlandsche Bank (Central Bank of the Netherlands) of its intention to extend a macroprudential measure introduced in 2020 and activated on 1 January 2022. Based on the submitted evidence the EBA does not object to the extension of the measure. Read more

ECB: Reconciling the macro and micro evidence on the effects of monetary policy

Isabel Schnabel, a Member of the Executive Board of the European Central Bank (ECB) discussed how research helps to understand the transmission of the monetary policy. "Considerable progress has been made in reconciling the macro and micro evidence on the effects of monetary policy," she said. Read more

FROM THE EBF this month

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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European Banking Federation