EBF MORNING BRIEF Wednesday 11 October 2023 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: No monetary reason to raise reserve requirements
The European Central Bank (ECB) shouldn’t change reserve requirements for banks as part of its monetary policy, Governing Council member Francois Villeroy de Galhau said. “There’s no monetary justification for increasing reserve requirements,” Bloomberg cited Villeroy as saying. “The stability of the current regime should remain in place.” Read more
Finextra: Spain tests Digital euro on existing payment infrastructures
After year-long tests, the Spanish banking sector has made a case for the re-use of existing payment infrastructures for the introduction of a digital euro. As reported by Finextra, the tests encompassed various use cases for digital euro payments, including person-to-person transactions and payments in both online and physical commerce. Read more
FT: BoE to double liquidity requirements for money market funds
Bank of England (BoE) officials are pushing to double the amount of easily sellable assets that money market funds have to hold. According to the Financial Times (FT), the statement was the latest in a series of measures aimed at reducing risk in various areas of the shadow banking sector. Read more |
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FROM EBF MEMBERS
Febelfin: New tax on savings
As reported by Febelfin, the government decided to impose an additional contribution on banks to cover the budget deficit. The threshold for non-deductibility of bank tax has been increased from 80% to 100% and an additional progressive bank levy has been introduced which hits the largest banks in our country a little harder. Read more (FR)
CBA: Year-on-year inflation fell below 7 percent in September
September inflation fell more than expected as year-on-year growth slowed from 8.5% to 6.9%, figures by the Czech Banking Association (CBA) show. The stronger-than-expected drop in inflation in September was caused by a stronger drop in energy and food prices combined with the effect of a high comparative base. Read more (CZ)
HBA: Questionnaires on ESG criteria
Banks play a key role in promoting sustainable development and the transition efforts towards a green economy. In this context, the Hellenic Bank Association (HBA) announces a new initiative on the adoption of standardized ESG questionnaires. The aim is to collect data that will help the banks’ corporate clients to improve their ESG performance. Read more |
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FROM THE INSTITUTIONS
ECB: Consolidated financial statement of the Eurosystem
The European Central Bank (ECB) published the consolidated financial statement of the Eurosystem as of October 2023. Read more
EBA: EU/EEA banks: benefits from rising interest rates are stabilizing
The European Banking Authority (EBA) published its Q2 2023 quarterly Risk Dashboard (RDB). Banks’ profitability and capital ratios increased further, while macroeconomic uncertainty weighed on loan growth. Read more
BIS: SMEs and the climate and environmental transition
Paolo Angelini, Deputy Governor of the Bank of Italy, discussed the steps that SMEs and intermediaries could take together, with mutual benefit, in the transition towards sustainable production and consumption models. In a speech published by the Bank for International Settlements (BIS), he likewise addresses sustainability risks. 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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