EBF MORNING BRIEF Wednesday 28 August 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
Bloomberg: Knot wants more data to take view on September rate cut
European Central Bank (ECB) Governing Council member member Klaas Knot said he’s awaiting more information before deciding on whether to support an interest-rate cut next month. “I will have to wait until I have the full data and information going into that meeting to decide my position on whether September is appropriate,” he told Bloomberg. Read more Cointelegraph: IOTA completes EU blockchain pre-commercial phase The European Commission has been working with leading blockchain developers to set the stage for a future of scalability, sustainability and security across the European Union. The IOTA Foundation announced its successful completion of the final stage of the EU's blockchain Pre-Commercial Procurement (PCP), along with seven other participants, Cointelegraph reports. Read more Euractiv: Financial literacy must be built into the EU’s policy agenda The term financial literacy at its most basic level is having the knowledge and skills to make sound financial decisions. According to Euractive, good financial literacy is what stops us from getting into debt, taking excessive risks and being exposed to cyber-fraud. Read more |
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FROM EBF MEMBERS
Finance Latvia: Lower interest rates will support the economy
The fight against inflation has been successful and central banks are ready to take more assertive steps in reducing interest rates. According to forecasts of the latest SEB Nordic Outlook economic survey, growth will be further supported by stable labor markets, real wage growth and lower interest rates. Read more (LV)
Finance Finland: Keeping Finland insulated in a bubble will not help economic recovery
Finance Finland is opposed to the Finnish Government’s proposal that would leave people on work-based residence permits at risk of deportation unless they get a new job within three months after becoming unemployed. “Such rules send the wrong signal to international professionals who are considering a career in Finland. We need to attract skilled employees, not drive them out”, says CEO Arno Ahosniemi. Read more
Finance Denmark: Consultation response - access to a basic business account for traders and associations
Finance Danmark has submitted a consultation response to the Danish Financial Supervisory Authority and it supports good framework conditions for the business world and recognizes that the financial institutions have a significant role in e.g. to make business accounts available. Read more (DK) |
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FROM THE INSTITUTIONS
ECB: Consolidated financial statement of the Eurosystem as at 23 August 2024
This European Central Bank (ECB) document highlights that in the week ending 23 August 2024 the net position of the Eurosystem in foreign currency increased by EUR 0.1 billion to EUR 327.4 billion. Read more
BIS: The market turbulence and carry trade unwind of August 2024
In the first days of August 2024, financial markets were rocked by an episode of significant volatility. This Bank for International Settlements (BIS) Bulletin discusses the triggers of the turbulence, examines the amplification mechanisms and explores the potential for further flare-ups. Read more EC: Targeted consultation on AI in the financial sector The European Commission (EC) has shared this targeted consultation to gather input from all financial services stakeholders including companies and consumer associations. Views are particularly welcome from financial firms that provide or deploy/use AI systems. 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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