EBF MORNING BRIEF Wednesday 31 January 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 hints at greener monetary policy in new climate plan
The European Central Bank (ECB) hinted it could make its monetary policy greener as part of a new push to take climate change into account in its work. As reported by Reuters, some activists have been long calling for the ECB to attach climate targets and stop buying the bonds of polluting companies. Such stimulus tools have been shelved over the past two years but the bank suggested this might change in the future. Read more
FT: UK gives European fund managers long-term market access
The UK government has paved the way for European fund managers to market their products to British investors on a long-term basis, the Financial Times (FT) reports. Bim Afolami, City minister, said that the move wants to facilitate international financial services transactions “by reducing barriers and frictions, where safe and practicable”. Read more
Bloomberg: ECB aims for smooth transition into rate cuts, Vujcic says
The European Central Bank (ECB) will ease into cutting interest rates and may take pauses along the way to ensure it doesn’t upset the economy, according to Governing Council member Boris Vujcic. Smaller, quarter-point steps are preferable to bigger ones, Vujcic told Bloomberg reporters, adding that the difference between starting to ease policy in April or June is negligible in economic terms. Read more |
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FROM EBF MEMBERS
FBF: Key figures on the French banking sector
The latest data published by the French Banking Federation (FBF) provides an overview of the key facts and figures on the French banking sector as of January 2024. Read more (FR)
ABBL: The commitment to financial education
The Luxembourg Bankers' Association (ABBL) applauds the Government's dedication to enhancing financial education, especially through basic programs in primary and secondary schools. Such an initiative is pivotal for the financial well-being of all citizens in Luxembourg, Jerry Grbic, ABBL CEO says. Read more
CBA: Czechs and Cyber Security 2024
The number of attacks on bank clients has tripled year-on-year. However, banks have proven to be successful in improving the effectiveness of the tools used to detect fraud. To this purpose, the Czech Banking Association (CBA) organized for the second time an extensive awareness campaign targeting the general population. Read more (CZ) |
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FROM THE INSTITUTIONS
ECB: Stepping up climate work
The European Central Bank (ECB) has decided to expand its work on climate change, identifying three focus areas that will guide its activities in 2024 and 2025: the impact and risks of the transition to a green economy, the increasing physical impact of climate change, and the risks stemming from nature loss and degradation. Read more
ESMA: Monitoring of EU alternative investment funds
The European Securities and Markets Authority (ESMA) published a report on the EU alternative investment funds (AIFs) market and an article on the risks posed by leveraged AIFs in the EU. ESMA confirmed the risks posed by real estate funds, in the context of declining volumes of transactions and falling prices in several jurisdictions. Read more
EBA: Digital finance: Confidence and resilience as the foundation of well-functioning financial markets
José Manuel Campa, European Banking Authority (EBA) chair, gave a keynote speech on "Digital Finance: Confidence and Resilience as the foundation of well-functioning financial markets" at the AFORE Consulting FinTech and Regulation Conference. 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.
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