EBF WEEKLY + FINANCIAL REGULATION AGENDA
For the week starting Monday 24 February 2025

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 

Financial Times: European Central Bank's annual loss hits record €7.9bn

The European Central Bank reported a record annual loss of €7.9 billion, primarily due to increased interest payments on its financial liabilities, writes the Financial Times. Read more.

The Banker: HSBC targets $1.8bn in cost cuts by 2026; Santander to invest $2bn in Mexico

HSBC announced plans to reduce costs by $1.8 billion by the end of 2025 as part of CEO Georges Elhedery's strategic overhaul. Additionally, Santander is set to invest $2 billion in its Mexican operations, reports The Banker. Read more.

MLex: AMLA executive board's preferred candidates set out by EU Parliament

The European Parliament's Committee on Civil Liberties, Justice, and Home Affairs has selected its five preferred candidates for the executive board of the Anti-Money Laundering Authority (AMLA), according to MLex. Read more.

FINANCIAL REGULATION AGENDA for next week

Monday 24 February

• Bear research conference on the Future of the Central Bank Balance Sheet

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

• Council Horizontal Working Party on Cyber Issues

• ECB: Euro area seasonally adjusted HICP (Jan. 2025) – data release

Tuesday 25 February

• Serzycki Award: Participation by Wojciech Wiewiórowski in event organised by the by Polish Data Protection Authority

• ECB: Monthly indicators on government debt securities (Jan. 2025) – data release

• Council Working Party on Hybrid Threats

• Council Political and Security Committee - meeting

Wednesday 26 February

• PIIE ‘The Trump administration’s policies and global financial risk’ event

• European Investment Bank: Finance in Common Summit 2025

• Council Working party on Tax Questions (High Level)

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

• Coreper II – meeting

• Geneva Graduate Institute ‘Launch of the January 2025 World Bank’s Global Economic Prospects: Emerging and Developing Economies in the 21st Century’ – event

• Bruegel ‘Economic dynamics in the former Soviet Union countries amidst global shocks’ panel discussion

• Geneva Graduate Institute ‘Estimating the Effects of Political Pressure on the FED: a Narrative Approach with New Data’ online seminar

Thursday 27 February

• Bank of England: Capital Issuance (Jan. 2025) – data release

• Council Budget Committee – meeting

• ECB: Monetary developments in the euro area (Jan. 2025) – data release

• Council Code Of Conduct Group (Business Taxation) (Cocg) (Subgroup (Internal Issues)) –meeting

Friday 28 February

• ECB: Distributional Wealth Accounts (DWA) (Q3 2024) – data release

Sunday 2 March

• IBA ’30th Annual International Private Client Tax Conference: transforming (un)expected challenges into opportunities for the next 30 years’ – conference

• European Internet Forum, GSMA Roundtable discussion ‘Connect to Compete: Europe’s competitiveness starts with connectivity’ – roundtable discussion

UPCOMING EBF EVENTS

Exploring Basel III/IV: Scenarios for Financial Stability and Growth - March 5 at 4 PM

The implementation of the Basel III/IV capital reforms has become a political issue while banks are in the final straight. The balance between financial stability and competitiveness has taken over priority at a time when international relationships are being redefined. The US administration is re-evaluating its approach to the reforms, while, the UK has postponed the start of their adoption to 2027. Register to attend here
 

European Money Week - March 18 at 9 AM

FROM EBF

Call for Tender: EU-funded project “Shaping generative AI for a sustainable and fair services economy”

Connect Europe, European Banking Federation and UNI Europa are commencing an EU-funded project “Shaping generative AI for a sustainable and fair services economy”. Read more.

New EBF Vacancy! Work with us!

Visit our Vacancies page to learn more about the opening. Read more

FROM EBF MEMBERS

UK Finance: Are ‘Productised Managed Services’ the Answer to Cutting Cost and Boosting Efficiencies for Financial Crime Compliance?

UK Finance explores how financial institutions can improve cost-efficiency and strengthen financial crime compliance through productised managed services. Read more.

Association of German Banks: Beware of Fraud When Paying Through Sales Platforms

BdB warns consumers about increasing fraud risks on online sales platforms and provides advice on secure payment methods. Read more (DE).
 

Hellenic Bank Association: Anti-Money Laundering Authority Meets with Greek Banks

The Anti-Money Laundering Authority and the Hellenic Bank Association discussed compliance challenges and Greece’s progress in combating financial crime. Both sides pledged closer cooperation on regulatory improvements. Read more (EL).

French Banking Federation: Successful Collaboration Between FBF, FORIF, and the Ministry of the Interior

FBF highlights a productive partnership with FORIF and the French Ministry of the Interior to strengthen financial security and regulation. Read more (FR).

FROM THE INSTITUTIONS

Bank for International Settlements: Exploring financial market infrastructures’ expectations for central bank money settlement

A new BIS report examines financial market infrastructures' expectations regarding the role of central bank money settlement, highlighting potential risks and innovations. Read more.

European Insurance and Occupational Pensions Authority: EIOPA sets supervisory expectations on the deduction of foreseeable dividends from insurers' own funds under Solvency II

EIOPA has clarified its supervisory expectations regarding the deduction of foreseeable dividends from insurers' own funds to ensure prudent capital management under Solvency II. Read more.

European Central Bank: Financial statements of the ECB for 2024

ECB reported a loss of €7.9 billion in 2024 due to higher interest expenses and the absence of risk provision releases, with losses to be offset against future profits and no profit distribution to national central banks. Read more.

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

European Banking Federation