EBF MORNING BRIEF      Wednesday 14 February 2024

FROM THE MEDIA

Bloomberg: Money markets show impact of ECB’s liquidity drain

The European Central Bank’s (ECB) drive to mop up trillions of euros in excess liquidity is already lifting borrowing costs in the region’s funding markets, says a strategist. According to Bloomberg, rates are likely to continue increasing for the region’s lenders as the ECB makes further headway in reversing years of easy monetary policy. Read more

The Banker: Instant payments to become ‘ubiquitous’ after EP vote

The European Parliament voted to pass a new regulation requiring payment providers in the Single Euro Payments Area to enable instant payments, capped at €100,000, in 10 seconds or under. The regulation provides a boon to an area that has struggled to take off. As reported by The Banker, banks could play a role in developing it further. Read more

FT: BoE plans to stress test insurers on exposure to reinsurance firms

The Bank of England (BoE) plans to stress test insurers on their exposure to reinsurers through a flurry of corporate pension deals, according to people familiar with the matter heard by the Financial Times (FT), as concerns mount about the risk posed by offshore arrangements to UK retirement savers. Read more

MAIN EVENTS

• European Parliament Committee on Economic and Monetary Affairs

• Joint meeting of the European Parliament Committee on the Environment, Public Health and Food Safety and the Committee on the Internal Market and Consumer Protection

• Council Working Party on the Environment

FROM EBF MEMBERS

SBA: Constructive meeting on fighting fraud

The government met with the heads of the six largest banks in Sweden, the CEO of the Swedish Bankers' Association (SBA), and the police to discuss strengthening the fight against fraud and improving cooperation between the banks and the police. Read more (SE)

FBF: Latest business financing figures

The French Baking Federation (FBF) published the latest business financing figures. Despite the gloomy economic situation and the tightening of monetary policy, the annual growth of bank loans to businesses still increased by 2% in December. Read more (FR)

UK Finance: Diversity and inclusion agenda for the finance sector

Whilst many firms already recognize the business case for having a diverse and inclusive workforce, UK Finance expects Diversity, Equity, and Inclusion (DEI) to take center stage for financial services firms and their senior leaders in the coming years, amidst enhanced regulatory focus, further diversity reporting, and evolving societal expectations. Read more

FROM THE INSTITUTIONS

ECB: Isabel Schnabel: The dynamics of PEPP reinvestments

When reading data on reinvestments under the pandemic emergency purchase program (PEPP) one needs to understand how we implement purchases. European Central Bank (ECB) Director General Market Operations Imène Rahmouni-Rousseau and Executive Board member Isabel Schnabel explain how to avoid pitfalls. Read more

ESMA: Best execution reporting requirements under MiFID II

The European Securities and Markets Authority (ESMA) issued a Public Statement providing market participants with clarity concerning their reporting requirements under RTS28, pending full application of the new rules under MiFID II. Read more

EIOPA: Appointment of Mr Steven Vanackere to Management Board

The Board of Supervisors of the European Insurance and Occupational Pensions Authority (EIOPA) appointed Mr Steven Vanackere, Vice-Governor of the National Bank of Belgium, to EIOPA’s Management Board for a two-and-a-half-year term. Read more

FROM THE EBF  

EBF: European business calls for deepening the EU Single Market and renewing the dynamic of European integration

In the Joint Statement issued today, this coalition of European associations underlines the need for renewed focus on deepening the Single Market. The statement puts forward clear logic for fresh political investment in the Single Market and its relevance for citizens, companies, and the future of the EU. Read more

EBF: Response to Call for Evidence on the Report on the GDPR (Art. 97)

This response complements the questionnaire response provided to the European Commission Multi-Stakeholder Expert Group of which the European Banking Federation is a member of. The introduction of the GDPR resulted in a significant increase in the attention to and the application of data protection rules. Read more

EBF: EFRAG ESRS Implementation Guidance consultation

The European Banking Federation (EBF) welcomes EFRAG’s development of the ESRS implementation guidance considering the significant complexity of the standards and the importance of ensuring the preparation of comparable and qualitative disclosures. The future and timely elaboration of specific guidance for financial institutions would be equally important and necessary given the role they have in financing the economy. Read more

New EBF Vacancies! Work with us!

Visit our Vacancies page to learn more about the opening positions at the EBF. Read more

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

European Banking Federation