EBF MORNING BRIEF Tuesday 5 March 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
Euractiv: ECB to hold rates again, awaiting clearer signs on inflation
The European Central Bank (ECB) is expected to freeze interest rates again this week, with officials being cautious about starting to cut before they see more evidence that recent falls in inflation will be sustained. Read more Finextra: Irish central bank sets new payments strategy According to Finextra, the Central Bank of Ireland has outlined a new multi-year payments strategy amid concerns that banks are failing to grasp the opportunities presented by instant payments. Vasileios Madouros, Central Bank of Ireland deputy governor, says that since the last National Payments Plan there has been remarkable change and innovation in domestic payments, but there are also crucial areas where Ireland is still lagging behind. Read more
The Banker: Industry backs BoE call for research into non-bank lenders
A UK banking industry body has welcomed the Bank of England’s call for more research into the risks posed by non-bank financial institutions, warning that a drop in liquidity and NBFI lending appetites could cause “serious problems” for the businesses they lend to, according to Simon Hills, director of prudential policy at UK Finance. “Banks may not have sufficient risk appetite to step in and fill the gap,” said Hills as reported by The Banker. Read more |
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FROM EBF MEMBERS
AEB: Digitalisation is inclusion
"The limits of digitisation are related to connectivity and digital skills, which the European authorities are committed to addressing. But they are not alone. For example, the banking sector is spending significant resources on both financial education and improving the digital literacy of all kinds of groups. Each at their own pace, as in the case of the elderly, to ensure that the objective is achieved: to unite and not to separate", says José Luis Martínez Campuzano, spokesperson for the Spanish Banking Association (AEB). Read more (ES)
Febelfin: Online and offline banking through consumers’ eyes
The use of online banking continues to grow. According to Febelfin, a fifth of Belgians say they used digital banking services via computer or banking apps more often in 2023 than in the previous year. Moreover, applications seem to be taking over from the computer. Online banking has thus become an integral part of the daily lives of many consumers. Read more
Finance Norway: The new issue of 'Finance Law'
In the latest issue of Finance Norway's 'Finance Law', the main topics are the amendment package for the banks' capital requirements, the date of entry into force of the new natural perils insurance scheme and the definition of the relevant regulations, and the EU proposal for a voluntary definition of 'EU green lending'. Read more (NO) |
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FROM THE INSTITUTIONS
ECB: Euro area bank interest rate statistics: January 2024
The European Central Bank (ECB) published the Euro area bank interest rate statistics for January 2024. Figures show that the that the composite cost-of-borrowing indicator for new loans to corporations broadly unchanged at 5.22%; indicator for new loans to households for house purchase decreased to 3.87%, driven by interest rate effect. Read more
EBA: Consultation on draft technical standards on off-balance sheet items under the standardised approach of credit risk
The European Banking Authority (EBA) launched a public consultation on its draft Regulatory Technical Standards (RTS) under the Capital Requirements Regulation (CRR3) regarding off-balance sheet items under the standardised approach of credit risk. Read more
EP: ECON Committee votes on new rules for benchmarks
The Economic and Monetary Affairs (ECON) committee of the European Parliament (EP) aimed at protecting financial stability, while reducing an administrative and regulatory burden for smaller benchmark providers. As prices of financial instruments depend on benchmarks, EP decided that the new rules should apply to critical benchmarks, significant benchmarks, EU climate transition benchmarks, EU Paris-aligned benchmarks, in order to prevent green washing and assure adequate supervision. Read more |
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FROM THE EBF
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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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