EBF MORNING BRIEF Wednesday 26 June 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: European banking’s biggest takeover battle enters new territory
BBVA, the Spanish bank facing obstacles in its €10bn hostile bid for Banco Sabadell, is arguing the deal would still be worthwhile even if it only gets half of what it wants — owning Sabadell without being able to merge with it. According to the Financial Times (FT), Spain’s Socialist-led government is firmly opposed to the proposed acquisition of the TSB owner, which would be the biggest transaction in European banking this year. Read more
Reuters: ECB could take action against firms in bond portfolio in climate fight
The European Central Bank (ECB) said on Tuesday it plans to set emission reduction targets for its vast corporate bond portfolio and could even sell some assets if it fails to meet its targets. The ECB holds about 350 billion euros ($376 billion) worth of corporate debt, purchased as part of a massive stimulus scheme over the past decade, and has been pushing companies included in this vast portfolio to become greener. Read more
Euronews: EU Commissioner berates member states for retreat on crisis banking measures
Mairead McGuinness ,EU's Commissioner for financial services, berated member states for rowing back on plans to stop taxpayer bailouts for crisis-hit banks. “The Council amendments would not increase financial stability, would not level the playing field, would not improve depositor protection, and would not reduce the use of taxpayers’ money,” she said, of a legislative redraft produced by finance ministers on 19 June. Read more |
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FROM EBF MEMBERS
Finance Latvia: Entrepreneurs are also in the focus of fraudsters.
Can phone scammers “fish” millions of dollars from a company account? It is possible - if the company has not taken enough care of security before and the employees do not know how to act in cases of fraud. Read more (LAT)
ABI: LEONIDAS project selected by the ECB
LEONIDAS, the project coordinated by Italian Banking Association (ABI) and ABI Lab and successfully tested within the Milan Hub of the Bank of Italy, is among those admitted by the European Central Bank (ECB) to the exploratory work on new applied technologies to wholesale payments infrastructure. Read more (IT) AAB: Organisation of the annual seminar with economic journalists The Albanian Association of Banks (AAB) organized a seminar dedicated to economic journalists. The event took place from June 20 to 22, in Madrid, and brought together 18 economic journalists from various visual media and print media. Read more (AL) |
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FROM THE INSTITUTIONS
ECB: Piero Cipollone: Maintaining the freedom to choose how we pay
A digital euro would combine the convenience of digital payments with cash-like features. European Central Bank (ECB) Executive Board member Piero Cipollone explains how a digital euro would enhance Europeans’ freedom of choice when deciding how to pay. Read more
BIS: AI and central banks
The Bank for International Settlements (BIS) has published an Annual Economic Report on how central banks are directly affected by Artificial Intelligence (AI), both as stewards of economy and as users of AI tools. Read more European Council: EU relations with non-EU European countries The Council approved conclusions on a homogeneous extended internal market and EU relations with non-EU Western European countries and with the Faroe Islands. The conclusions assess EU relations with Iceland, Liechtenstein, Norway, Andorra, San Marino and Monaco, as well as the Faroe Islands. 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.
For questions or suggestions contact r.hrelja@ebf.eu European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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