Insight EU Finance Monitoring Weekly 14 – 18 October 2024

Here are the headlines from last week’s Insight EU Finance Monitoring, published on Friday night. We provide the headlines with a delay of several days, but you can access our real-time monitoring services by subscribing to one of our annual plans in the Insight EU Store (details below).

EURO SUMMIT

• Eurogroup President Donohoe’s report to the President of the Euro Summit

ECB

• ECB Monetary policy decisions on 17 October 2024
• Press Conference by Christine Lagarde, President of the ECB, and Luis de Guindos, Vice-President of the ECB
• Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates) – October 2024
• ECB: October 2024 euro area bank lending survey
• Further publications by the ECB
• Results of the September 2024 Survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD)
• Results of the ECB Survey of Professional Forecasters for the fourth quarter of 2024
• Agreement on emergency liquidity assistance – 27 September 2024
• Climate capitalists
• The ECB Survey of Professional Forecasters – Fourth quarter of 2024
• Main findings from the ECB’s recent contacts with non-financial companies
• Workshop on the Future of Business-to-Business (B2B) payments
  • ECB presentation
  • BDI presentation
  • ABI presentation
  • Chain4Travel presentation
  • SWIFT presentation

ECB BANKING SUPERVISION

• Bank profitability: A mirror of the past, creating a vision for the future – Speech by Claudia Buch, Chair of the Supervisory Board of the ECB at Bocconi University
• Supervisory expectations on cloud outsourcing – Speech by Elizabeth McCaul, Member of the Supervisory Board of the ECB, at the KPMG Cloud Conference 2024

FINANCIAL MARKETS

• Work continues towards a consolidated trading landscape for financial instruments in the EU
• Breaking down barriers to market integration: A roundtable on financial markets integration in the EU

DORA

• ESAs respond to the European Commission’s rejection of the technical standards on registers of information under the Digital Operational Resilience Act and call for swift adoption

INVESTOR PROTECTION

• The European Supervisory Authorities share highlights from the 2024 Joint Consumer Protection Day in Budapest

EIB

• ELENA technical assistance
• Default and recovery statistics: Private and public lending 1994-2023
• Default and recovery statistics: Sovereign and sovereign-guaranteed lending (1984-2023)

ESMA

• ESMA launches survey on legal entities identifiers (LEIs)
• ESMA responds to the Commission rejection of certain MiCA Technical Standards
• ESMA updates guidance under the MiFIR Review
• Further ESMA documents
• SMSG advice on MiFID-MiFIR third consultation package
• DLT Pilot Regime
• Sustainable Finance – implementation timeline
• EFAMA positions
• European move to T+1 settlement crucial for asset managers
• European T+1 industry task force publishes roadmap for adoption of T+1 in EU securities markets
• High-Level Roadmap for Adoption of T+1 in EU Securities Markets

EBA

• The EBA’s Banking Stakeholder Group elects its new Chair and Vice-Chairs
• Ongoing EBA Consultations
• Consultation on draft implementing technical standards for uniform reporting under the Single Euro Payments Area Regulation (EBA/CP/2024/19)
• Consultation on draft Implementing Technical Standards overhauling the EBA resolution planning reporting framework (EBA/CP/2024/18)

EIOPA

• Introductory statement of EIOPA Chair Petra Hielkema at hearing of the ECON Committee
• EIOPA opens consultation on criteria for selecting insurers to run macroprudential analyses

FINCEN

• FinCEN Renews Real Estate Geographic Targeting Orders

EU PARLIAMENT REGISTER

• Minutes – Monday, 16 September 2024 – PE763.271v02-00 – Committee on Budgets, Committee on Economic and Monetary Affairs
• Draft agenda – Monday, 21 October 2024 – PE765.137v01-00 – Committee on Economic and Monetary Affairs
• Highlights – ECON voting – Committee on Economic and Monetary Affairs
• Minutes – Monday, 30 September 2024 – PE765.067v01-00 – Committee on Economic and Monetary Affairs
• Minutes – Monday, 16 September 2024 – PE763.271v01-00 – Committee on Budgets, Committee on Economic and Monetary Affairs
• Draft agenda – Monday, 21 October 2024 – PE765.110v01-00 – Committee on Budgets, Committee on Economic and Monetary Affairs

EU COMMISSION REGISTER

• Commission Decision on a policy check under Article 23 of Regulation (EU) 2021/523 of the European Parliament and of the Council establishing the InvestEU Programme
• Joint Proposal for a COUNCIL REGULATION amending Regulation (EU) No 224/2014
• Report from the Commission to the Economic and Financial Committee under Article 12(4) of Regulation (EU) No 1210/2010 of the European Parliament and of the Council of 15 December 2010 concerning authentication of euro coins and handling of euro coins unfit for circulation
• Communication to the Commission from Commissioner Gentiloni to the Commission in agreement with Executive Vice-President Dombrovskis on the partially positive preliminary assessment of the third payment request of Romania pursuant to Regulation (EU) 2021/241
• Commission Implementing Decision on the authorisation of the disbursement of the fourth instalment of the non-repayable support and the second instalment of the loan support for Slovenia
• Commission Opinion in accordance with Article 19 of the Statute of the European Investment Bank

BIS

• Latest publications by the Bank for International Settlements (BIS)
• Piero Cipollone: Towards a digital capital markets union
• Piero Cipollone: Monetary sovereignty in the digital age – the case for a digital euro
• Luis de Guindos: Expectations surveys, central banks and the economy
• Luis de Guindos: Bridging the gap – reviving the euro area’s productivity growth through innovation, investment, and integration
• The road to net zero: A fund flow investigation
• Stablecoins, money market funds, and monetary policy
• Bank specialisation and corporate innovation
• Michael Debabrata Patra: Assessing inflation targeting
• Promoting the harmonisation of application programming interfaces to enhance cross-border payments: Recommendations and toolkit
• Linking fast payment systems across borders: Governance and oversight – Final report
• CPMI reports to G20 on fast payment system interlinking and APIs provide insights and recommendations to enhance cross-border payments
• Christopher J Waller: Thoughts on the economy and policy rules at the Federal Open Market Committee
• Michelle W Bowman: Challenges to the community banking model
• Lisa D Cook: Entrepreneurs, innovation, and participation
• François Villeroy de Galhau: Fintechs – at the forefront of “new frontiers”
• Denis Beau: What will tomorrow’s post-trading industry look like and what forms of cooperation will it deploy?
• Philip N Jefferson: The Fed’s discount window – 1990 to the present
• Aleš Michl: Inflation expectations of households
• John C Williams: All about data
• Eddie Yue: China and the changing global trade landscape – challenges and opportunities
• Joachim Nagel: Introducing a digital euro – the cross-border dimension
• Global inflation, inflation expectations and central banks in emerging markets
• News Selection and Household Inflation Expectations
• How Do Households Form Inflation and Wage Expectations?
• An Anatomy of Firms’ Political Speech
• Consumer Credit Regulation and Lender Market Power
• Public and Private Money Creation for Distributed Ledgers: Stablecoins, Tokenized Deposits, or Central Bank Digital Currencies?
• Estimating the Portfolio-Balance Effects of the Bank of Canada’s Government of Canada Bond Purchase Program
• Extracting inflation expectations and risk premia from the breakeven inflation rate in Iceland
• Capital requirements in Pillar 1 or Pillar 2: Does it matter for market discipline?
• Female Financial Portfolio Choices and Marital Property Regimes
• The public-private wage gap in the euro area a decade after the sovereign debt crisis
• “El Niño” and “La Niña”: Revisiting the impact on food commodity prices and euro area consumer prices
• The market externalities of tax evasion
• Climate supervisory shocks and bank lending: Empirical evidence from microdata
• As soon as possible: The effectiveness of a financial education program in Italian schools
• Recent Developments in Measuring the Natural Rate of Interest
• Work, Poverty, and Social Benefits Over the Past Three Decades
• Households’ risk perceptions, overplacement, and financial literacy
• Collusion in Repeated Auctions with Costless Communication
• Savings Versus Debt: The Effects of Survey Question Order on Consumers’ Reported Financial Priorities

IMF

• Poland: Staff Concluding Statement of the 2024 Article IV Mission
• IMF Executive Board Completes the Fifth Review of the Extended Fund Facility Arrangement for Ukraine
• Country Report No. 2024/314: Ukraine: Fifth Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Waivers of Applicability of Performance Criteria, Modification of Performance Criterion, Rephasing of Access, and Financing Assurances Review
• Further IMF publications
• Governor Talks:
  • Pakistan: From Stabilization to Sustainable Growth via Structural Reforms
  • South Africa
  • Japan
  • Reviving Europe: The Role of Monetary Policy in a New Era
  • Ukraine: Effective Central Banking Amid Unprecedented Uncertainty
  • Costa Rica: Leveraging Macroeconomic Stability and Digital Payment Systems
• The Great Tightening: Insights from the Recent Inflation Episode
• Understanding the Social Acceptability of Structural Reforms
• Macrofinancial Stability Amid High Global Economic Uncertainty
• Coming Soon:
  • Regional Economic Outlook for Europe, October 2024
  • Regional Economic Outlook for Sub-Saharan Africa, October 2024
  • Regional Economic Outlook for the Western Hemisphere, October 2024
  • Regional Economic Outlook for the Middle East and Central Asia, October 2024
  • Regional Economic Outlook for Asia and Pacific, October 2024

UNITED KINGDOM

• Latest publications by the Financial Conduct Authority
• Growth: Mission Possible
• FCA welcomes buy now pay later consultation
• Improving our understanding of how financial services regulation affects economic growth
• FCA responds to market review on delivering finance for global decarbonisation and UK growth
• Ten years of FCA innovation: Impact and opportunity
• A new approach to financial advice regulation
• FCA launches premium finance market study alongside new Government insurance taskforce

GERMANY

• Further publications by Deutsche Bundesbank
• Acquisition of financial assets and external financing in Germany in the second quarter of 2024 | Results of the financial accounts by sector
• German balance of payments in August 2024
• October results of the Bank Lending Survey (BLS) in Germany | Credit standards for firms not tightened further

SPAIN

• Latest publications by the Banco de España
• Working Papers: China’s financial spillovers to emerging markets

USA

• Waller: Centralized and Decentralized Finance: Substitutes or Complements?
• Waller: Thoughts on the Economy and Policy Rules at the Federal Open Market Committee
• Further information from the U.S. Federal Reserve
• Federal and state financial regulatory agencies issue interagency statement on supervisory practices regarding financial institutions affected by Hurricane Milton

RUSSIA

• Bank of Russia approves Guidelines for Financial Technologies Development for 2025–2027

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