EBF MORNING BRIEF Wednesday 11 December 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
FT: BIS warns politicians to rein in spending or risk market turbulence
Rising government debt levels will cause turbulence in the global economy and financial markets unless political leaders start tackling them soon, the body that advises the world’s central banks has warned, writes the Financial Times. Read more
Bloomberg: Trump Agenda Won’t Hurt Global Economy as Much Next Year as in 2026
According to Bloomberg, Donald Trump won a second term in the White House by promising a bonfire of the verities—the truths that wonks in economic and foreign policy circles hold sacred. Free trade is out, protectionism is in. Worrying about the debt is out, tax cuts are in. The US security guarantee is out, do-it-yourself defense is in. Read more
Risk.net: Why there is no fence in effective regulatory relationships
Irrespective of people’s views as to the optimal level of regulation, especially at a time when major markets such as the US, UK and European Union are looking for growth in a volatile geopolitical and macroeconomic environment, the relationship a bank or other regulated institution has with its regulators is of paramount importance. Along with customers, colleagues, investors and shareholders, the regulators are a key stakeholder group, reports Risk.net. Read more |
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MAIN EVENTS -
EIB: Meeting No. 578 of the Board of Directors -
EBF and S&P ‘The Case for a European Safe Asset: Challenges and Opportunities’
webinar -
Deutsche Bundesbank: The German financial system has dealt well with the rise in interest rates – which risks should we still keep an eye on? Forum Bundesbank -
Bank of England: Banking sector regulatory capital (2024 Q3) -
Deutsche Bundesbank ‘Economic Dialogue with Dr. Yannick Bury MdB’ speech -
Council Financial Services Committee (FSC) -
ESMA Board of Supervisors meeting -
Geneva Graduate Institute, State Secretariat for Economic Affairs (SECO), Centre for Finance and Development (CFD) ‘Scale Local Currency Solutions in Emerging Markets and Developing Economies’ workshop -
Council Financial Services Attaches meeting -
ECB: Long term interest rates statistics (Nov-2024) -
Bruegel, The German Institute for International and Security Affairs (SWP), Atlantik-Brücke ‘Economic security and the transatlantic agenda after the US presidential elections’
event -
CEPS ‘Official launch of AI World’ panel discussion
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FROM EBF MEMBERS Finance Finland: Trump's Election Rhetoric Reflected in Stock Indices in November – €1.3 Billion in New Capital for Finnish Investment Funds New capital amounting to €1.3 billion was invested across all main fund categories. Equity funds received €572 million, and balanced funds €129 million. Long-term bond funds attracted €409 million, while short-term bond funds received €172 million. Alternative funds garnered €22 million in new investments. Read more (FI)
Finance Iceland (SFF): Public Discourse on Banks Impacts Credit Ratings
Public discussions about Icelandic banks are being assessed as a unique risk factor for the creditworthiness of the Icelandic banking system, resulting in worse borrowing terms for banks. This, in turn, may lead to higher loan interest rates for households and businesses in the country. This is one of the points raised in an interview with Heiðrún Jónsdóttir, Managing Director of the Icelandic Financial Services Association, published in Morgunblaðið on December 9. Read more (IS) Febelfin: Financial Mules: Young People Remain Easy Targets For several years, Febelfin has been surveying young people on their experiences and knowledge of the phenomenon of "financial mules." A recent study conducted by the research firm Indiville on behalf of Febelfin reaffirms that young people remain susceptible to being recruited as financial mules. Read more (FR) |
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FROM THE INSTITUTIONS
BIS: Investor optimism prevails over uncertainty
Despite lingering risks, investor optimism about the near-term outlook set the tone for financial markets during the review period.1 The global economy seemed to be heading for a smooth landing, and the results of the US presidential election were conclusive. As a result, stock markets rose and credit spreads narrowed, easing global financial conditions. Read more
EIOPA: ESAs provide Guidelines to facilitate consistency in the regulatory classification of crypto-assets by industry and supervisors
The three European Supervisory Authorities (EBA, EIOPA and ESMA - the ESAs) published joint Guidelines intended to facilitate consistency in the regulatory classification of crypto-assets under MiCAR. The Guidelines include a standardised test to promote a common approach to classification as well as templates market participants should use when communicating to supervisors the regulatory classification of a crypto-asset. Read more
EC: Remarks by Commissioner Dombrovskis at the ECOFIN press conference
Commissioner Dombrovskis highlighted the EU's economic outlook, recovery plans, sustainable growth strategies, and unwavering support for Ukraine during the final ECOFIN meeting of the year. 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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