EBF MORNING BRIEF Wednesday 23 October 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's Knot: falling interest rates should ease debt burdens
Falling interest rates should ease the pressures created by high government borrowing levels, Dutch European Central Bank (ECB) governing council member Klaas Knot told Reuters. Read more
Bloomberg: Nagel dismisses fed-style ‘dot plot’ as ECB rate-signal option
The European Central Bank (ECB) isn’t well suited for the Federal Reserve’s approach to signaling the future path of borrowing costs and should find other ways to improve its communication instead, Governing Council member Joachim Nagel said according to Bloomberg. Read more
Risk.net: Clearing houses fear being classified as Dora third parties
Central counterparties (CCPs) and exchanges fear information disclosure requests from their bank members will become excessive under the current interpretation of new European legislation. The European Union’s Digital Operational Resilience Act (Dora) enters into force in January 2025, and will require financial institutions such as banks and asset managers to have a better handle on the operational risks stemming from their third-party technology providers, Risk.net reports. Read more |
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Artificial intelligence is becoming a priority topic of discussion among citizens, the industry, as well as regulators and policymakers, and with good reason, as it has an immense transformative potential on many levels of social and economic life. In banking, AI can be seen as a powerful tool that provides numerous opportunities for the digital transformation of the sector and the further improvement of the provision of digital financial services, while it can also entail challenges that need to be addressed.
On 14 November, the EBF in partnership with EY will organize an online event to discuss all these aspects of AI and its role in banking, looking into how the technology allows for better, more secure and innovative financials services, what challenges arise from its deployment, and how policy can play a pivotal role in boosting innovation and promoting security. |
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FROM EBF MEMBERS BdB: IMF and World Bank annual meetings At the annual meeting of the International Monetary Fund (IMF) and the World Bank in Washington, Christian Sewing, President of the Association of German Banks (BdB), appealed to politicians to simplify financial market rules in Europe and to take into account the development of global regulation. Read more (DE)
Finance Latvia: Latvijas Pasts joins the Association
The Council of Finance Latvia has admitted VAS Latvijas Pasts to the Association as an associate member. Read more (LV)
AEB: Peio Belausteguigoitia and Alejandra Kindelán discuss cybersecurity with students
Peio Belausteguigoitia, Country Manager of BBVA in Spain, and Alejandra Kindelán, president of the Spanish Banking Association (AEB), talked about the importance of training in financial education and cybersecurity from an early age. Read more (ES) |
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FROM THE INSTITUTIONS
ECB: Using structural models to understand macroeconomic tail risks
Understanding asymmetric risks in macroeconomic variables is challenging. This European Central Bank (ECB) report examines how structural models can incorporate nonlinearities to generate tail risks. Read more
BIS: Risks facing the global economy
The Bank for International Settlements (BIS) has shared the speech by Agustín Carstens, General Manager of the BIS, at the Geneva Association Chief Investment Officer Conference 2024. Read more
EBA: Clarification on the procedure for the classification of ARTs and EMTs as significant and the transfer of supervisory powers between the EBA and competent authorities
The European Banking Authority (EBA) has published a Decision setting out the procedural aspects related to the significance assessment of asset-referenced tokens (ARTs) and e-money tokens (EMTs) and the transfer of supervisory responsibilities. 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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