EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 16 December 2024

An overview of the main financial regulation and banking stories this week and a look ahead to key events for the upcoming week, brought to you by the European Banking Federation.

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FROM THE MEDIA 

FT: ECB lowers rates to 3% and paves way for more cuts

The European Central Bank cut interest rates by a quarter-point to 3 per cent, as it watered down its hawkish language and warned that growth would be weaker than it had previously forecast, writes Financial Times. Read more

Bloomberg: France’s Political Impasse Amplifies Economic Challenges

Accoring to Bloomberg, France’s economic outlook is deteriorating as government collapse and the scrapping of its 2025 budget add to months of political upheaval that has already hammered business confidence. Read more

The Banker: Investec bets on mid-market M&A in Europe

Every year in the 2020s so far has witnessed a seismic shock of a different nature, whether it be the Covid-19 pandemic, the war in Ukraine or the return of global inflation, which was the final manifestation of a spiralling cost-of-living crisis. This uncertainty has had dire consequences on businesses, too, reports The Banker. Read more

FINANCIAL REGULATION AGENDA for next week

Monday 16 December

• Deutsche Bundesbank: The German financial system has dealt well with the rise in interest rates – which risks should we still keep an eye on? Forum Bundesbank – Head Office in Hamburg, Mecklenburg-Western Pomerania and Schleswig-Holstein event

• Council Working Party of Financial Counsellors

• Council Working Party on Financial Services and the Banking Union (Financial Services)

• ECB and Eurosystem templates on international reserves and foreign currency liquidity (Nov. 2024)

• Bruegel ‘Towards a circular single market: Strengthening EU economic security and competitiveness’ event

• European Banking Authority: Public hearing on Guidelines on proportionate retail diversification methods

Tuesday 17 December

• Deutsche Bundesbank: The German financial system has dealt well with the rise in interest rates – which risks should we still keep an eye on? Forum Bundesbank

• Council Working Party on Financial Services and the Banking Union (Financial Services)

Wednesday 18 December

• Deutsche Bundesbank: The EU banking package and its national implementation – Digital supervisory briefing in focus

• Eurostat: Inflation (HICP), November 2024

• ECB: Euro area seasonally adjusted HICP (Nov. 2024)

Thursday 19 December

• Bank of England: Agents’ summary of business conditions (2024 Q4)

• Bank of England: Monetary Policy Summary and minutes of the Monetary Policy Committee meeting (December 2024)

• ECB: Euro area investment fund statistics (Oct. 2024)

Friday 20 December

• Swiss National Bank: Swiss balance of payments and Switzerland’s international investment position (Q3 2024)

• Bank of England: Consolidated worldwide claims (2024 Q3)

• ECB: Monthly indicators on government debt securities (Nov. 2024)

FROM EBF MEMBERS

Czech Banking Association (ČBA): Hanzlík: People Don’t Want to Go into Debt for Christmas

Only 2% of Czechs have taken out or are considering taking out a loan for Christmas. "These numbers are good because they show, similar to previous years, that the vast majority of people believe taking out a loan for Christmas is not a good idea," says Filip Hanzlík, chief legal officer and deputy executive director of the Czech Banking Association (ČBA), in an interview. Nevertheless, nearly half of Czechs who borrow money experience varying degrees of concern about being unable to repay the loan. Read more (CZ)

UK Finance: More change ahead: senior executives speak to the opportunities and challenges facing the UK financial services sector

The UK financial services sector continues to experience a time of profound transformation, driven by digital advancements and ongoing fiscal and regulatory change. Read more

Finance Latvia: What Has Changed in the Housing and Lending Market, and What to Expect? Expert Explains

After the turbulence in the housing market brought on by the previous years, 2024 has finally been a relatively stable period marked by ongoing adjustments to economic conditions. The coming year could bring fresh developments to the housing and lending markets, with expectations of lower Euribor rates driving demand for housing. Read more

FROM THE INSTITUTIONS

ECB: Combined monetary policy decisions and statement

The Governing Council decided to lower the three key ECB interest rates by 25 basis points. In particular, the decision to lower the deposit facility rate – the rate through which the Governing Council steers the monetary policy stance – is based on its updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission. Read more

EIOPA: EIOPA’s financial stability report sees insurers and pension funds weathering a complex and uncertain risk landscape

The European Insurance and Occupational Pensions Authority (EIOPA) published its December 2024 Financial Stability Report in which it assesses the risks and vulnerabilities facing European insurers and occupational pension funds in a challenging risk landscape marked by high uncertainties. In addition to providing an overview of recent developments, the report also features three topical analyses that are particularly relevant in the current context. Read more

ESMA: ESMA consults on Technical Advice on Listing Act implications

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has launched a consultation to gather feedback following changes to the Market Abuse Regulation (MAR) and Market in Financial Instruments Directive II (MiFID II) introduced by the Listing Act. Read more

FROM 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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