EBF MORNING BRIEF Tuesday 28 January 2025 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
Reuters: ECB's Lagarde warns over cost of losing independence
ECB President Christine Lagarde warns that political interference in central bank independence could undermine efforts to control inflation and ensure economic stability, says Reuters. Read more
The Banker: UK confirms T+1 transition for October 2027
The UK will transition to T+1 securities settlement in October 2027, aligning with the EU and Switzerland to enhance efficiency and reduce operational challenges, according to The Banker. Read more
Financial Times: UK banks clash with Bank of England over rules on loss-absorbing debt
UK banks oppose the Bank of England's proposed stricter loss-absorbing debt rules, citing high costs, competitiveness concerns, and divergence from international standards, as mentioned in Financial Times. Read more |
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MAIN EVENTS -
Eurostat ‘Second release sector accounts (households), (Q3 2024)’ Data release -
Council Working Party on Financial Services and the Banking Union (Banking Union) -
ECB: Euro area economic and financial developments by institutional sector (Q3 2024) -
European Parliament Committee on Budgetary Control (CONT) Meeting -
European Parliament Committee on Economic and Monetary Affairs (ECON) Meeting
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FROM EBF MEMBERS Finance Latvia: 85% of Latvians Encountered Fraud Attempts in 2024 A Luminor Bank survey reveals that 85% of Latvians faced financial fraud attempts in 2024, highlighting the need for vigilance as scammers increasingly use phone calls, emails, and SMS to target victims. Read more (LV)
UK Finance: Contact centres: the new frontier in fraud prevention
Fraud costs the UK economy billions annually, yet the damage begins long before the financial loss is recorded. Read more |
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FROM THE INSTITUTIONS
European Central Bank: Survey on the Access to Finance of Enterprises: firms report lower interest rates but a small decline in bank loan availability (Press Release)
The latest ECB SAFE survey reveals firms reported lower bank loan interest rates but slightly reduced loan availability, while inflation expectations rose to 3.0% for the next one, three, and five years. Read more
European Securities and Markets Authority: Consultation on the Conditions of the Active Account Requirement under EMIR 3 (Open Consultation) All interested stakeholders are invited to respond to this consultation paper. In particular, responses are sought from central counterparties (CCPs), the clearing members as well as the counterparties accessing CCP services as clients of clearing members. Read more |
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FROM THE EBF
Chair of the European T+1 Industry Committee welcomes the official launch of the governance structure for the transition to T+1 Settlement Cycle
The European Securities and Markets Authorities (ESMA) hosted a meeting to launch the T+1 Governance framework, aiming to coordinate the move to a shorter settlement cycle for securities transactions in the EU, aligning with the UK and Swiss markets, while ensuring industry-wide collaboration and minimizing disruption. Read more
Launch of the Report of the C-ESG Risk Roundtable Data Workstream
Discover how banks are using CSRD disclosures for risk management in our C-ESG Risk Roundtable Data Workstream report launched on January 23rd. Hear from Nordea, ING, and the ECB on data use, challenges, and quality improvement. Watch the recording here Jérôme Raguénès, Director of Digital, Payments and Operational Resilience at FBF on fraud Combating sophisticated fraud requires a coordinated effort across sectors, including enhanced security, cross-industry collaboration, and stronger regulation to safeguard the payment ecosystem. Watch the video New EBF Vacancy! Work with us! Visit our Vacancies page to learn more about the EBF Events Trainee opening. 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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