EBF MORNING BRIEF Wednesday 29 May 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: Macron and Scholz: we must strengthen European sovereignty
In a few weeks, we Europeans will start setting out our agenda for the next term in the EU. As reported by the Financial Times (FT), looking back at the challenges over the last years it is clear: Europe is experiencing its Zeitenwende. We can’t take for granted the foundations on which we have built our European way of living and our role in the world. Read more Bloomberg: Schnabel says QE must be used carefully outside of crises The European Central Bank (ECB) should use quantitative-easing (QE) programs primarily in times of crisis as their costs might be more pronounced than other tools in its repertoire, according to Executive Board member Isabel Schnabel. “Asset purchases can be a powerful tool when financial markets are in turmoil,” she said as quoted by Bloomberg. Read more Cointelegraph: Central banks turn to generative AI for enhanced cybersecurity: BIS The Bank for International Settlements (BIS) believes in the potential for widespread adoption of generative artificial intelligence (AI), an area in which many central banks have developed a strong interest. As Cointelegraph reports, the report found that “Over two-thirds (71%) of respondents are already using gen AI, and 26% have plans to incorporate such tools into their operations within the next one to two years.” Read more |
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THE SECOND 2024 BANKING ESSENTIALS WEBINAR
Payback time: Assessing credit risk at Europe's banks
in an uncertain climate
Thursday, 13 June 2024 | 2:00 - 3:00 PM (CET) |
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European banks have enjoyed strong profits recently on the back of higher interest rates, but credit risk is increasingly in the spotlight. Consumers and businesses are struggling
with higher costs following the recent surge in inflation, putting pressure on loan repayments, while banks’ exposure to risky areas such as leveraged loans
and commercial real estate is a cause of concern for markets.
Join our panel as we discuss the current state of credit risk and asset quality
in Europe, how some economies have rid themselves of huge bad
loan burdens, and where things go from here.
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FROM EBF MEMBERS
ABBL: DAC8: a new chapter in EU tax transparency
Laétitia Carroz, Adviser at The Luxembourg Bankers' Association (ABBL), underlines the importance of the Tax transparency rules for crypto-asset transactions (DAC8) in fighting tax evasion. She says: "DAC8 will contribute to the fight against tax evasion by closing potential loopholes resulting from recent developments in the field of finance." Read more
Finance Denmark: Comments on the Danish Economic Council's
Finance Denmark fundamentally shares the Presidency's assessment of the current economic situation. This also applies to the fact that the risk picture appears more balanced than for a long time. We believe that employment may very well develop more strongly than in the Presidency's forecast, which together with the prospect of renewed real wage growth will support domestic demand. Read more (DK)
FBF: Portability and transferability of home loans
The business of French banks is to finance the economy: according to the French Bankign Federation (FBF), this practice of responsible lending has proved its worth in France, where banks offer households a secure model of long-term fixed-rate housing finance that is unique in Europe. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: Reforming the SREP
The European Central Bank (ECB) Supervisory Board has decided to update its annual health check of banks, the Supervisory Review and Evaluation Process (SREP), says Chair Claudia Buch. Triggered by structural shifts, new risks and external shocks, changes aim at making the SREP more efficient and effective. Read more
EBA: Funds to protect deposits in case of bank failure are going up
The European Banking Authority (EBA) published end-2023 data related to two key concepts and indicators in the Deposit Guarantee Schemes (DGS) Directive, namely available financial means and covered deposits. The EBA publishes these data for the DGS in each Member State yearly to enhance the transparency and public accountability of DGSs across the EEA to the benefit of depositors, markets, policymakers, DGSs and Members States. Read more European Council: Joint statement of the parties to the EEA Agreement This year marks the 30th anniversary of the entry into force of the European Economic Area (EEA) Agreement. The EEA Agreement, which unites our States in the internal market, has been the bedrock of our close and special partnership. 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 Report of the C-ESG Risk Roundtable Scenario Analysis Workstream This report is the result of the collaborative work of the Climate Scenario Analysis WorkStream (CSA WS) members, facilitated by BNP Paribas in its role as chair of the CSA WS and with the participation of the ECB and the EBF in an observing capacity. The CSA WS objective is to share, amongst participating banks, the current practices and targeted evolutions on Climate and ESG scenario analysis, internal capital assessment and risk materiality analysis. 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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