EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 29 January 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 Recommend the EBF newsletters to a colleague. Click here to sign up! |
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FROM THE MEDIA
CNBC: ECB holds rates steady, gives no hint at cuts ahead
The European Central Bank (ECB) left interest rates unchanged at its January meeting, following its hike to a record high in September. As reported by CNBC, the central bank flagged significant positive progress on inflation but gave no suggestion it has started talking about rate cuts. Read more
Reuters: EU to copy US in speeding stocks settlement to cut risk
A shift by European Union markets to halve the time it takes to settle stock trades is a matter of when, not if, as the benefits will outweigh the short-term challenges, according to the bloc's financial services chief. Given how financial markets in the EU are interlinked with those in Britain and other non-EU countries, the bloc was open to coordinating the timing of moving to T+1, Reuters adds. Read more
Bloomberg: UK starts design work on a digital version of the pound
The UK will step up work on designing a digital version of the pound as officials seek to quell privacy concerns among the public and address criticism from banks. According to Bloomberg, the decision on whether to build a digital pound is expected in 2025 to 2026 and will need to gain the approval of Parliament. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 29 January
Council Working Party on the Environment Tuesday 30 January Council Working Party on the Environment
Wednesday 31 January
Council Horizontal Working Party on Cyber Issues Thursday 1 February Council Working Party on Energy Publyon 'Sustainability breakfast' networking event (Burçak Inel, EBF Director of Financing Sustainable Growth speaking)
Friday 2 February
Council Horizontal Working Party on Cyber Issues Council Working Party on the Environment |
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FROM EBF MEMBERS
FBF: Ten proposals to adapt skills to the challenges of tomorrow
Adapting the skills of the French working population is key to ensure the development of the economy. The French Banking Federation (FBF) published a joint white paper to provide an overview of current apprenticeship, retraining and training systems and identify successes and areas for progress. Read more (FR)
Febelfin: Don’t let a ‘bank employee’ take control of your computer
Entrepreneurs are now also increasingly targeted by scammers who pretend to be bank employees. As Febelfin points out, they succeed in stealing big amounts of money by convincing the clients to give them control of their computers. This type of fraud is on the rise and can cause great financial damage. Read more
ABBL: EBF Tax Conference 2024
The European Banking Federation (EBF) held a key conference bringing together experts and policymakers to discuss the evolving EU tax landscape. Camille Seillès, secretary general of the Luxembourg Bankers Association (ABBL), shared his thoughts in a panel on how to strike the right balance between the fight against tax evasion and data protection. Read more |
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FROM THE INSTITUTIONS
ECB: Monetary policy
European Central Bank (ECB) President Christine Lagarde and Vice-President Luis de Guindos explained the Governing Council’s latest monetary policy decisions and answered questions from journalists at a press conference. Read more
BIS: Design proposals for development of Basel headquarters site
The Bank for International Settlements (BIS) is holding a public exhibition from 25 to 30 January 2024 to showcase design proposals to enhance its headquarters site in Basel. The competition sought designs for a building accommodating the development of BIS activities while contributing to the city of Basel. Read more
EC: Conference on shortening the securities settlement cycle in the EU
The European Commission (EC) hosted a roundtable on accelerating the securities settlement cycles in the EU. Most major financial markets operate on a T+2 settlement cycle. With the growing digitalization of finance and international moves to accelerate cycles, there is growing momentum towards a shorter settlement cycle. Read more |
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FROM THE EBF
EBF: GAR cannot be to sustainability what CET1 is to capital
The European Banking Federation (EBF) has published a staff paper on the Green Asset Ratio (GAR). As major parts of the economy financed by banks are not tracked by GAR, it cannot be considered a key metric to portray the financing of the green transition or an indicator of progress on meeting sustainability commitments. Read more
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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