EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 3 June 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
Bloomberg: ECB to make fewer rate cuts in fight to curb inflation risks
Economists are dialing back their expectations for how far the European Central Bank (ECB) will lower interest rates after it starts cutting next week, according to a Bloomberg survey. Respondents anticipate that the first of six quarter-point reductions in the deposit rate, currently at 4%, will be announced next week. That’s one step less than they predicted before the Governing Council last set policy in April. Read more
Reuters: EU sticks to January 2025 for final batch of Basel rules
As reported by Reuters, the European Union said it had given final approval to roll out the remaining batch of tougher bank capital rules from 2025, building on safeguards introduced after taxpayers had to bail out lenders in the financial crisis over a decade ago. Read more
S&P Global Market Intelligence: Deposits at large European banks climb in Q1 as rate cuts loom
Europe's biggest banks saw an increase in deposits in the first three months of the year as the region's major central banks are likely to lower rates in the coming months, S&P Global Market Intelligence data showed. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 3 June
Council Working Party on the Environment Tuesday 4 June Council Working Party on the Environment Wednesday 5 June Council Horizontal Working Party on Cyber Issues Council Working Party on the Environment Thursday 6 June Council Working Party on the Environment Friday 7 June Council Horizontal Working Party on Cyber Issues Council Working Party on the Environment |
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FROM EBF MEMBERS
BPFI: FraudSMART Payment Fraud Report 2023
Fraudsters stole almost €100 million through frauds and scams in 2023, an increase of over 16% on 2022, according to a new report published by FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI). Read more CBA: Subsidy consulting is successful Since the launch of the New Green Savings program, subsidy advice for building societies has become an important element of supporting citizens in investing in reducing the energy consumption of their homes. A recent report by the Czech Banking Association (CBA) demonstrates the significant success of this initiative. Read more (CZ) BdB: Crowdfunding: What to look out for? Whether it is an innovative business idea, a new product or an exciting project, a good idea needs start-up capital. Crowdfunding or crowdfunding investment is one of many ways to obtain this initial capital and bring a project to market. But what exactly is behind crowdfunding? What is the difference between crowdfunding and crowdinvesting? The Association of German Banks provides an overview. Read more (DE) |
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FROM THE INSTITUTIONS
ESMA: Guide to firms using AI in investment services
The European Securities and Markets Authority (ESMA) issued a Statement providing initial guidance to firms using Artificial Intelligence technologies (AI) when they provide investment services to retail clients. Read more
European Council: Anti-money laundering: new package of rules
The European Council adopted a package of new anti-money laundering rules that will protect EU citizens and the EU's financial system against money laundering and the financing of terrorism. The regulation exhaustively harmonises anti-money laundering rules for the first time throughout the EU, closing loopholes for fraudsters. Read more SRB: Multi-Annual Plan 2024-2028 The Single Resolution Board (SRB) published its Multi-Annual Plan 2024-2028. The plan outlines the key focus areas for the SRB in the coming years, detailing the action plan to deliver the Single Resolution Mechanism (SRM) Vision 2028 strategy, as well as the agency’s core mission and tasks. Read more |
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FROM THE EBF
Report of the C-ESG Risk Roundtable Scenario Analysis Workstream
This report is the result of the collaborative work of the Climate Scenario Analysis WorkStream (CSA WS) members, facilitated by BNP Paribas in its role as chair of the CSA WS and with the participation of the ECB and the EBF in an observing capacity. The CSA WS objective is to share, amongst participating banks, the current practices and targeted evolutions on Climate and ESG scenario analysis, internal capital assessment and risk materiality analysis. 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 r.hrelja@ebf.eu
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