EBF MORNING BRIEF Wednesday 7 December 2022 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 needs more rate hikes but inflation close to peak The European Central Bank (ECB) will have to raise interest rates several more times to tame price pressures, even if headline inflation is now close to its peak, ECB chief economist Philip Lane told the Milano Finanza. According to Reuters, Lane did not explicitly endorse a 50 bps move over a bigger increase but repeated his case for a slowdown. Read more
Finextra: Italian central bank raises concerns over pro-cash plans
Plans by Italy's new government to promote cash over digital payments are facing pushback from the country's central bank over black economy and tax evasion concerns. As reported by Finextra, Meloni has rejected the argument that cash usage encourages tax evasion but she suggested that the pro-cash plans could change in the face of EU pushback. Read more
S&P Global Market Intelligence: Looming credit risks overshadow Ukrainian banks' Q3 profit boost
A surge in third-quarter earnings at Ukrainian banks was not enough to dispel increasing concerns around credit risk as the war with Russia beds in. "Business models of most market participants proved to be stable and effective even in wartime conditions," the central bank's First Deputy Governor Kateryna Rozhkova told S&P Global Market Intelligence. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS Febelfin: Record outstanding business loans Outstanding business loans at the end of September 2022 were 6.3% higher than the previous year, reaching €184.4 billion. The amount of credits used has never been so high, says Febelfin. Read more (FR)
BPFI: Housing Market Monitor
The latest Housing Market Monitor Q3 2022 published by Banking & Payments Federation Ireland (BPFI) shows that resilient housing demand, driven by population growth and considerable pent-up demand, and exacerbated by the significant gap between average rent and mortgage payments, means house price pressures are set to remain unless supply increases substantially. Read more
ABI: Agreement with the Department of Public Safety
The collaboration between the Italian Banking Association (ABI) and the Department of Public Safety is further strengthened by a new Protocol for the prevention of crime against banks and customers. The agreement highlights the stable and profitable nature of the cooperation that is ongoing since 2006. Read more (IT) |
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FROM THE INSTITUTIONS
ECB: Monetary policy and the economic outlook
In an interview with Milano Finanza, the European Central Bank (ECB) Chief Economist Philip R. Lane provides his latest assessment of the economic outlook and the ECB’s monetary policy. Read more
EBA: New Guidelines to tackle de-risking
The European Banking Authority (EBA) launched a public consultation on new Guidelines on the effective management of money laundering and terrorist financing (ML/TF) risks when providing access to financial services. Through these Guidelines, the EBA aims to ensure that customers, especially the most vulnerable ones, are not denied access to financial services without a valid reason. Read more ESMA: The Green Deal vs. geopolitics Verena Ross, Chair of the European Securities and Markets Authority (ESMA), explains the role of sustainable finance in the current geopolitical context. She focused on ESG disclosures, and the forthcoming Corporate Sustainability Due Diligence Directive (CSDDD). In her speech, she also spoke about the importance of international interoperability of corporate reporting standards. 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 |
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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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