EBF MORNING BRIEF Wednesday 30 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
POLITICO: Digital euro sparks sovereignty battle between EU governments and ECB
According to POLITICO, a battle is brewing between Europe’s most powerful nations and the European Central Bank (ECB) over control of a new monetary tool that both sides fear could destabilize the continent’s banking system if mismanaged. Read more
Bloomberg: Guindos says European approach tops national one on bank mergers
The European Central Bank (ECB) Vice President Luis de Guindos, in an interview with Italian news agency Ansa reported by Bloomberg, highlighted the virtues of European banking consolidation. Read more
Reuters: Europe's banking union is crucial for merger push, says German banks group head
Progress on European banking union is vital to policymakers' push to encourage cross-border mergers because banks will only be able to leverage synergies if there is a common market for their services, the head of Germany's banks' association told Reuters. Read more |
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FROM EBF MEMBERS Finance Latvia: 44% of the owners of the 2nd level pension plans were not interested in their savings 44% of the population have not looked at or changed their pension level 2 plan, although according to state statistics, half of the population is still saving in a plan that is not suitable for their age. Read more (LV)
FBF: Implementation of a procedure for registering securities marketed through participatory financing on PEAs and PEA-PMEs The French Banking Federation (FBF) has worked on setting up a procedure for acquiring or subscribing to unlisted securities on the Equity savings plans (PEA) or PEA PME (equity savings plans for SMEs), via participatory finance platforms. Read more (FR)
ABBL: Instant Payments: Luxembourg prepares for the 2025 deadline The financial landscape in Luxembourg is on the brink of a significant transformation as the country prepares for mandatory instant payments regulation, which is set to take effect in 2025, the Luxembourg Bankers' Association (ABBL) reports. Read more |
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FROM THE INSTITUTIONS
ECB: Euroarea economic and financial developments by institutional sector: Q2 2024
Euroarea net saving increased to €795 billion (6.7% of euro area net disposable income) in the four quarters to the second quarter (Q2) of 2024, compared with €787 billion in the four quarters to the previous quarter. Read more
BIS: Anatomy of the VIX spike in August 2024
According to the Bank for International Settlements (BIS), on 5 August 2024, the Cboe volatility index (VIX) derived from option prices on the S&P 500 recorded its biggest ever one-day spike, increasing by 180% to almost 66 pre-market. Read more
ESMA: Proposals to streamline the prospectus area and seeks stakeholder input
The European Securities and Markets Authority (ESMA) has published a Consultation Paper (CP) on draft technical advice under the Prospectus Regulation and a Call for Evidence (CfE) on Prospectus Liability. 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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