EBF MORNING BRIEF Wednesday 10 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
Bloomberg: ECB decisions could come before May, Centeno says
The European Central Bank (ECB) doesn’t necessarily need full insight into wage developments in the coming months to set monetary policy, Governing Council member Mario Centeno said. According to Bloomberg, he also said that “the recent developments on inflation and the economy have brought the moment of easing closer to us.” Read more
FT: Crypto and fintech groups fined in crackdown on illicit money
Crypto and fintech groups were for the first time fined more for lax controls than the entire traditional financial system last year, as global authorities cracked down on illicit money flows in finance’s new frontiers. Data analyzed by the Financial Times (FT) showed crypto and digital payments companies paid $5.8bn in fines last year for shortcomings in customer checks and anti-money laundering controls. Read more
Reuters: Euro zone's services sector may slow further, ECB says
Eurozone services activity could weaken further in the coming quarters due to rising interest rates but the impact on the sector may be more muted than on manufacturing, a European Central Bank (ECB) study seen by Reuters concluded. Read more |
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Launch of the C-ESG Risk Roundtable
Collateral Workstream
Thursday, 11 January 2024
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Banks do recognize that environmental factors could be a source of financial risk. While banks are making tangible progress, they are facing numerous operational and implementation challenges, many of which are neither originated, nor inherent to the banking industry. While some will need to be addressed at the level of individual organizations, others will benefit from collaborative approaches. To further strengthen the dialogue within the banking sector and to facilitate the discussion with the European Central Bank (ECB), a high-level Environmental, Social, and Governance Risk Roundtable (C-ESG Risk RT) was set up by the European Banking Federation (EBF) with the participation of 13 European banks. Tomorrow, we will be launching the second report resulting from the discussions and deliberations of the C-ESG Roundtable Collateral Workstream. |
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FROM EBF MEMBERS
Finance Finland: The digital euro would create costs, impact payment systems and potentially shake financial stability
The European Central Bank (ECB) plans to launch a digital euro. For the average consumer, the digital euro would not make much difference compared to the existing array of payment methods. This is found by a study commissioned by the EBF and conducted by Copenhagen Economics, Finance Finland says. Read more
SFF: Conference on financial literacy of young people
Iceland's Association of Financial Companies (SFF) is holding a conference on the 'Financial Intelligence of Young People' on Thursday, January 18. At the conference, among other things, the results of a Gallup survey on the financial knowledge of Icelanders compared to other European countries will be presented. Read more (IS) BPFI: Mortgage Approvals for November 2023 Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report. First-time buyer mortgage activity reached historic highs in the 12 months to the end of November, despite an overall slowdown. Read more |
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FROM THE INSTITUTIONS
ECB: Geopolitical risk and oil prices
Geopolitical shocks tend to decrease oil prices, but not if they pose direct risks to oil production, writes the European Central Bank (ECB). Recent geopolitical uncertainty highlights the need to identify the nature of geopolitical shocks to disentangle their effects on oil prices and inflation. Read more
EBA: Technical standards on supervisory colleges
The European Banking Authority (EBA) published the final draft of Regulatory Technical Standards (RTS) and final draft Implementing Technical Standards (ITS) on the functioning of supervisory colleges under the Capital Requirements Directive (CRD). Read more ESMA: List of third-country CCPs recognized to offer services and activities in the Union The European and Securities Markets Authority (ESMA) has updated the list of central counterparties (CCPs) established in a third country per Article 88(1) of the European Market Infrastructure Regulation (EMIR). 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.
For questions or suggestions contact v.barbieri@ebf.eu
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