EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 9 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: Europe races to set up €500bn defence fund

EU countries are discussing a €500bn joint fund for common defence projects and arms procurement, tapping bond markets to boost spending in anticipation of Donald Trump’s White House return, writes Financial Times. Read more

Bloomberg: Macron Tries to Rebuild French Government Amid Political Chaos

Accoring to Bloomberg, Emmanuel Macron will meet with key politicians Friday in an effort to cobble together a new administration, a day after the French president vowed to serve out the remainder of his term. Read more

Politico: Franco-German fight over South American trade deal threatens EU rupture

Ursula von der Leyen’s first major act in her second term as EU chief executive is inflaming a severe Franco-German rift and threatening to shake the foundations on which the European Union is built, writes Politico. Read more

FINANCIAL REGULATION AGENDA for next week

Monday 9 December

• ECIPE conference on the crucial role of cloud and AI leadership to drive competitiveness in EU 

• Sixth Edition of The Athens Roundtable

• Council Horizontal Working Party on Cyber Issues

• European Parliament Committee on Budgetary Control (CONT) Meeting

Tuesday 10 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

• Deutsche Bundesbank: Cash, Card and Smartphone – How Germany pays – Head Office in Saxony and Thuringia event

• Bank of England: Mortgage Lenders and Administrators Statistics (2024 Q3)

• Council Economic and Financial Affairs

• Eurostat: Foreign direct investment positions by ultimate counterpart (2023)

• UNEP FI Global Roundtable

• European Banking Authority: Board of Supervisors meeting

• IBA ‘Navigating political and tax challenges for HNWI’ webinar

• Geneva Graduate Institute ‘2024 Poster Competition in Climate Finance and Impact Investing’ fireside chat

Wednesday 11 December

• EIB: Meeting No. 578 of the Board of Directors

• EBF and S&P ‘The Case for a European Safe Asset: Challenges and Opportunities’
  webinar

• 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

• Bank of England: Banking sector regulatory capital (2024 Q3)

• Deutsche Bundesbank ‘Economic Dialogue with Dr. Yannick Bury MdB’ speech

• Council Financial Services Committee (FSC)

• ESMA Board of Supervisors meeting

• Geneva Graduate Institute, State Secretariat for Economic Affairs (SECO), Centre for Finance and Development (CFD) ‘Scale Local Currency Solutions in Emerging Markets and Developing Economies’ workshop

• Council Financial Services Attaches meeting

• ECB: Long term interest rates statistics (Nov-2024)

• Bruegel, The German Institute for International and Security Affairs (SWP), Atlantik-Brücke ‘Economic security and the transatlantic agenda after the US presidential elections’
  event

• CEPS ‘Official launch of AI World’ panel discussion

Thursday 12 December

• Swiss National Bank: Monetary policy
  assessment

• ECB Governing Council with press conference

• ECB: Press conference following the Governing Council meeting

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

• Council Fiscal Counselors/Attaches Meeting

Friday 13 December

• Bank of England, Ipsos: Inflation Attitudes Survey – November 2024

• Semi-Annual Forecasts of the Deutsche Bundesban

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

• ECB: Securities issues statistics (Nov. 2024)

What does the future hold for Europe's economic strategy?

As Europe faces the challenge of financing monumental investments in clean tech, digitization, and infrastructure, joint EU borrowing is back in the spotlight.

With the return of discussions around a European Safe Asset, the debate over its potential to reshape the EU's financial architecture has never been more relevant.

Join us for an exclusive webinar hosted by the European Banking Federation and S&P Global Market Intelligence featuring leading economists and policymakers as we explore:
➡ How joint EU borrowing could influence member states' economies
➡ The role of a European Safe Asset in completing the CapitalMarketsUnion
➡ Insights into the impact on Europe's GreenTransition and long-term growth

FROM EBF MEMBERS

Romanian Association of Banks (ARB): #OnlineSafety: Beware of Fake Discounts and Miraculous Investments! How to Avoid Digital Traps During the Gift Season

The holiday season is a time when online fraud attempts reach their peak. The Romanian Banking Association (ARB), the National Cybersecurity Directorate (DNSC), and the Romanian Police, initiators of the national awareness project #OnlineSafety (sigurantaonline.ro), offer essential tips for a peaceful holiday season, free from financial or security incidents. Read more (RO)

Spanish Banking Association (AEB): The Value of Banks for Competitiveness and Growth

The European Commission's Autumn Forecasts estimate a growth rate of 0.8% in the eurozone for this year, with a slight acceleration from the 0.5% estimated for 2023, and a somewhat more positive outlook for the next year, projecting up to 1.3%. However, this is less than half the growth predicted by the IMF for developed countries this year and half a percentage point lower than the estimate for 2025. Read more (ES)

Czech Banking Association (ČBA): Schools compete in cybersecurity, more than 10,000 children sign up

The first year of the nationwide CyberGame 2024 competition kicked off with a class round. A total of 10,250 pupils and students from 410 classes from all over the Czech Republic will measure their knowledge in the field of cyber security. Read more

FROM THE INSTITUTIONS

ECB: How to turn European savings into investment, innovation and growth

Europe is not short of ideas, innovators or savings. Europeans save more of their income than Americans, and their share in global patent applications is close to that of the United States. But Europe often struggles to turn ideas into new technologies that can drive growth. One reason is that it is much less able than the United States to channel its significant savings into scaling up innovation. Read more

EIOPA: EIOPA calls for candidates to join its Consultative Expert Group on data use in insurance

Data is more and more easily accessible, and how it is used to get insights has become more sophisticated. This can bring opportunities: insurers can assess risks and calculate prices in a more precise manner, increasing insurance coverage and financial inclusion. At the same time, it also brings challenges. Read more

Council: ENISA: Council approves conclusions for a stronger EU agency for cybersecurity

At the initiative of the Hungarian presidency, today the Council approved conclusions on the EU agency for cybersecurity (ENISA). ENISA has proven to be an invaluable entity in the European cybersecurity ecosystem over the past two decades and the text of the conclusions encapsulates member states’ experiences and expectations regarding the agency. Read more

FROM THE EBF  

EBF Welcomes Revised IReF Timeline: A Key Step Towards Harmonized EU Reporting

The banking industry considers the Integrated Reporting Framework (IReF) as the very first concrete step in the revamping of the current reporting system for banks in Europe. While focused on statistical reporting, the IReF will serve as preamble to a more ambitious integration of EU-wide statistical, prudential and resolution reporting as ultimate objective for both authorities and the industry. 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