EBF MORNING BRIEF Tuesday 7 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
FT: Rich must pay for others to go green, says EU environmental pioneer
European voters will abandon the fight against climate change unless the wealthy help fund the cost of going green for all, the architect of the EU’s ambitious “Green Deal” said, writes the Financial Times (FT). Read more
The Banker: EU prepares for wave of green bonds
According to The Banker, Billions of euros of green bonds aligned with the incoming European Green Bond Standard could be on the way, according to think-tank the Institute for Energy Economics and Financial Analysis. Read more
S&P: Top 20 European banks by market cap, FY 2024
Intesa Sanpaolo SpA became the largest lender in the European Union by market capitalization, surpassing Spain's Banco Santander SA. The Italian bank's market cap grew 42.5% in 2024 to €68.69 billion, just ahead of Santander's €67.60 billion, S&P Global Market Intelligence data shows. This makes Intesa the third-biggest bank in Europe using this metric. Read more |
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MAIN EVENTS -
ECB: Euro area seasonally adjusted HICP flash estimate (Dec. 2024)
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FROM EBF MEMBERS The Luxembourg Bankers' Association (ABBL): Instant payments regulation: A new era for payments in Luxembourg Starting on 9 January 2025, instant payments will become the standard for all payment service providers (PSPs) offering SEPA (Single Euro Payments Area) credit transfers. This regulatory shift is set to transform the European financial landscape, and Luxembourg's banking sector is already preparing for this groundbreaking change. Read more
Finance Norway: 1.9 million Norwegians have their own pension accounts
There is now 534 billion NOK under management in individual pension accounts, an increase of 24 percent compared to the same period last year. This is according to statistics from the Pension Account Registry. Read more (NO) Slovak Banking Association (SBA): What Awaits Banks in Slovakia in 2025 The upcoming period of change will bring Slovak banks a combination of regulatory, technological, and economic challenges, requiring adjustments to their strategies and investments. Key focus areas will include the ongoing trend of digitalization and automation, an emphasis on sustainability and ESG (Environmental, Social, and Governance), challenges in cybersecurity and fraud prevention, new forms of payment systems, and new ways of working within banks. Read more (SK) |
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FROM THE INSTITUTIONS
ECB: Explaining the resilience of the euro area labour market between 2022 and 2024
The euro area labor market demonstrated exceptional resilience from 2022 to 2024, with record-low unemployment and employment growth outpacing weak GDP growth, driven by labor hoarding, real wage adjustments, and increased labor force participation. However, this resilience came at the cost of declining productivity, and structural challenges like reduced working hours and demographic shifts may hinder further gains as cyclical factors wane. Read more
Council: Speech by President António Costa at the official opening of the Polish presidency of the Council of the European Union
The speech emphasized the potential for Europe's banking and financial sector to support strategic goals such as defense, innovation, and energy transitions by becoming an economic engine through investments in security and technological development. It highlighted the importance of aligning financial policies with regional cohesion and competitiveness to bolster the Single Market and ensure a robust, resilient European economy. 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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