EBF MORNING BRIEF Tuesday 28 May 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
Reuters: ECB has room to cut rates, but should take its time
The European Central Bank (ECB) has room to cut interest rates as inflation slows but must take its time in easing policy, even if the direction of travel is already clear, key policymakers said on Monday. The ECB has all but promised a rate cut for June 6, so the debate has shifted to subsequent moves and the speed at which they come, and markets have dialled back their expectations to bet on just one more cut this year. Read more Euronews: Von der Leyen’s capital markets plan faces multiple hurdles Ursula von der Leyen has pledged to build up the EU’s financial markets as she campaigns for a second term at the European Commission – but, after a decade of work, there’s still little consensus on how to do so. Some argue a stronger capital market is the key to building up Europe’s competitiveness and autonomy, helping fund the green transition. Read more FT: UBS rules out external successor to chief Sergio Ermotti UBS has ruled out an outsider as the successor to chief executive Sergio Ermotti, instead planning to choose from a shortlist of three internal candidates when he steps down in about three years’ time, the Financial Times (FT) reports. Ermotti returned to UBS as chief executive just over a year ago within days of the bank rescuing its arch-rival Credit Suisse, in a shotgun marriage arranged by the Swiss authorities. Read more |
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THE SECOND 2024 BANKING ESSENTIALS WEBINAR
Payback time: Assessing credit risk at Europe's banks
in an uncertain climate
Thursday, 13 June 2024 | 2:00 - 3:00 PM (CET) |
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European banks have enjoyed strong profits recently on the back of higher interest rates, but credit risk is increasingly in the spotlight. Consumers and businesses are struggling
with higher costs following the recent surge in inflation, putting pressure on loan repayments, while banks’ exposure to risky areas such as leveraged loans
and commercial real estate is a cause of concern for markets.
Join our panel as we discuss the current state of credit risk and asset quality
in Europe, how some economies have rid themselves of huge bad
loan burdens, and where things go from here.
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FROM EBF MEMBERS
NVB: Response to the Ministry of Finance's investigation into perceived discrimination at banks
The Dutch Banking Association (NVB) regrets that research commissioned by the Ministry of Finance shows that customers do not always experience. Earlier this year, the banks announced several improvement actions to eliminate experiences of discrimination and they plan to do so together with customers and other stakeholders. Read more (NL)
SBA: Nordic banking associations worried about new regulations
On May 8, the Nordic banking associations, including the Swedish Banking Association (SBA), sent a letter to John Berrigan, European Commission's DG FISMA Director-General. The letter addressed the problems with the increasing number of frauds and the concern that the new European regulations may further increase the risk of fraud. Read more (SE) Finance Latvia: As the EURIBOR rate falls, housing prices may rise Anyone whose plans for the near future include the purchase of a new home is likely to follow the European Central Bank's decisions on changes in the EURIBOR rate. Current forecasts show that the interest rate could start to decrease in June, however, Luminor Banka's Kaspars Lukačovs says that this is not a reason to postpone a planned home purchase. As the EURIBOR rate decreases, housing prices may increase. Read more (LAT) |
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FROM THE INSTITUTIONS
ECB: The green transition and the role of the ECB
"We are committed to supporting the green transition within our mandate", said Piero Cipollone, European Central Bank (ECB) Executive Board member. "But we cannot do it alone: stakeholders need to unite their efforts. In turn, we can benefit from them in the pursuit of our objectives", he added. Read more
ESMA: Report on the application of MiFID II marketing requirements
The European Securities and Markets Authority (ESMA) published a report on its 2023 Common Supervisory Action and the accompanying Mystery Shopping Exercise on marketing disclosure rules under Market in Financial Instruments Directive (MiFID II). Read more EBA: Guidelines on STS criteria for on-balance-sheet securitisation The European Banking Authority (EBA) published today the final Guidelines on the criteria related to simplicity, standardisation and transparency and additional specific criteria for on-balance-sheet securitisations (so-called STS criteria). 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.
For questions or suggestions contact r.hrelja@ebf.eu European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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