Insight EU Finance Monitoring Weekly 4 – 8 November 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).

EU ECOFIN COUNCIL

• Main results of the EU Economic and Financial Affairs Council, 5 November 2024
• Remarks by Executive Vice-President Dombrovskis at the ECOFIN press conference

EUROGROUP

• Main results of the Eurogroup on 4 November 2024
• Competitiveness of the European economy – statement of the Eurogroup in inclusive format
• Remarks by Paschal Donohoe following the Eurogroup meeting of 4 November 2024
• Remarks by EU Commissioner Gentiloni at the Eurogroup press conference

ECB

• The ECB’s balance sheet reduction: an interim assessment – Speech by Isabel Schnabel
• Survey on the access to finance of enterprises
• Further publications by the ECB
• Philip R. Lane: Macroeconomics of sovereign debt (PDF)
• Luis de Guindos: Economic developments and monetary policy in the euro area
• Christine Lagarde: Welcome address at the tenth anniversary of the Single Supervisory Mechanism
• Christine Lagarde: Competition policy in a changing world
• Isabel Schnabel: The ECB’s balance sheet reduction: an interim assessment
• Isabel Schnabel: The ECB’s monetary policy: towards price stability
• Frank Elderson: The first decade of European supervision: taking stock and looking ahead
• Financial returns, sentiment, and market volatility. A dynamic assessment.
• For whom the bill tolls: redistributive consequences of a monetary-fiscal stimulus
• Time-varying agglomeration economies and aggregate wage growth
• Fiscal policy and inflation: accounting for non-linearities in government debt
• Survey on the Access to Finance of Enterprises in the euro area – Third quarter of 2024
• Mapping the maze: a system-wide analysis of commercial real estate exposures and risks
• List of supervised entities – Cut-off date 1 September 2024
• Written overview for the exchange of views of the Chair of the Supervisory Board of the ECB with the Eurogroup on 4 November 2024

ECB BANKING SUPERVISION

• European banking supervision at ten: building a strong institution for a resilient future

SSM

• Welcome address at the tenth anniversary of the Single Supervisory Mechanism – Welcome address by Christine Lagarde, President of the ECB, at the tenth anniversary of the Single Supervisory Mechanism
• Statement by Eurogroup President Paschal Donohoe for the 10th Anniversary of the Single Supervisory Mechanism
• The first decade of European supervision: taking stock and looking ahead
• Bundesbank: Der SSM feiert 10-jähriges Jubiläum

BANKING UNION

• In-Depth Analysis – Looking back at 10 years of Banking Union’s case law – PE 760.255 – Committee on Economic and Monetary Affairs

SOLVENCY II

• Solvency II and IRRD: EU Council signs off new rules for the insurance sector

CBDC

• IMF Policy Paper No. 2024/052 : Central Bank Digital Currency: Progress and Further Considerations

DORA

• Joint Guidelines on the oversight cooperation and information exchange between the ESAs and the competent authorities under DORA Regulation (EU) 2022/2554

ESMA

• Further ESMA documents
• Double Volume Cap Mechanism
• Ongoing ESMA consultations

EBA

• EBA observes an improvement in competent authorities’ practices on the supervision of non-performing loans
• Ongoing EBA Consultations
• Consultation on draft Implementing Technical Standards on Pillar 3 data hub
• Consultation on Technical Standards on structural foreign exchange under CRR

EIOPA

• EIOPA consults on mass-lapse reinsurance and reinsurance termination clauses to enhance guidance on risk mitigation techniques
• EIOPA recommends a dedicated prudential treatment for insurers’ fossil fuel assets to cushion against transition risks
• EIOPA factsheet shows increasing share of green investments in EU insurers’ portfolios
• Further publications by EIOPA
• Letter from EIOPA to the European Commission regarding EIOPA’s views on a proposal for better data sharing legislation
• Final Report on the Prudential Treatment of Sustainability Risks for Insurers
• Insurers’ green investments – 2024 Q2

EU PARLIAMENT REGISTER

• Press release – Hearing of Commissioner-designate Maria Luis Albuquerque
• Question to the ECB – Risk weight of ECB bonds – PE765.077v02-00
• Question to the ECB – Effectiveness of monetary policy – PE765.080v01-00
• Question to the ECB – ECB vs BoJ on monetary policy effectiveness – PE765.081v01-00
• Question to the ECB – Proposal by Charles Wyplosz from September 2023 – PE765.078v01-00
• Question to the ECB – Capital markets union and financial constraints – PE765.079v01-00

EU COUNCIL REGISTER

• ST 14477 2024 ADD 1 – Draft amending budget No 5 to the general budget for 2024: Adjustments in payment appropriations, update of revenues, and other technical updates: Council position of 5 November 2024 Technical annex

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
• SR Harmful Tax
• COMMISSION DECISION amending Commission Decision C(2024)484 of 31.01.2024 on the financing of Directorate General for Economic and Financial Affairs’ activities and adoption of a corresponding annual work programme for 2024
• COMMISSION OPINION in accordance with Article 19 of the Statute of the European Investment Bank

IMF

• IMF Working Paper No. 2024/234: Citizens’ Perceptions of Tax Authorities and Tax Efficiency
• Latest publications by the IMF

BIS

• Latest publications by the Bank for International Settlements (BIS)
• Frank Elderson: The first decade of European supervision – taking stock and looking ahead
• Christine Lagarde: Competition policy in a changing world
• Rosanna Costa: Medium – and long-run trends in interest rates – causes and implications for monetary policy
• Luigi Federico Signorini: The journey to financial well-being through financial inclusion
• Jorgovanka Tabaković: Stability serves the interest of each of us
• José Luis Escrivá: Growth and competitiveness
• François Villeroy de Galhau: Monetary policy in perspective (II) – three landmarks for a future of “great volatility”
• Joachim Nagel: A stable euro in a strong Europe
• Martin Schlegel, Sébastien Kraenzlin: Swiss National Bank to develop new banknote series. Theme of new series: Switzerland and its altitudes
• Tuomas Välimäki: Opening remarks – Nordic Cyber in Finance Conference
• Leong Sing Chiong: Tokenisation in financial services – pathways to scale
• Chiara Scotti: Central bank business surveys – version 2.0
• Fabio Panetta: 1924-2024 – one hundred years of fostering a savings culture
• Eddie Yue: Opportunities and challenges of emerging technologies in the financial ecosystem

GERMANY

• Bundesbank joins Project Guardian
• Publications by Deutsche Bundesbank
• Fritzi Köhler-Geib neues Vorstandsmitglied der Bundesbank
• Ein stabiler Euro erfordert ein festes Fundament
• Nagel zum Mitglied des Lenkungsausschusses des ESRB ernannt
• Robuste deutsche Direktinvestitionen im Ausland – weniger Direktinvestitionszuflüsse nach Deutschland
• A stable euro requires a firm foundation
• Ein stabiler Euro in einem starken Europa | Karl Otto Pöhl Lecture bei der Frankfurter Gesellschaft für Handel, Industrie und Wissenschaft
• Gastbeitrag: Den Teufelskreis zwischen Banken und Staaten endgültig durchbrechen | Gemeinsamer Gastbeitrag von Joachim Nagel und Nicolas Véron, erschienen bei Politico
• Grenzüberschreitende Dimension der Einführung eines digitalen Euro | RBI@90 High-Level Conference „Zentralbankwesen am Scheideweg“
• Finanzierung nachhaltiger Infrastrukturen der öffentlichen Hand | Rede beim Fachkongress für die öffentliche Hand Bundesverband Öffentlicher Banken Deutschlands (VÖB)
• Rede zum Amtswechsel in der Hauptverwaltung in Hamburg, Mecklenburg-Vorpommern und Schleswig-Holstein

UNITED STATES

• U.S. Fed lowers target range for the federal funds rate to 4.5 – 4.75 percent

• Insight EU Premium subscription:https://ieu-monitoring.com/plans/subscribe
• Targeted Insight EU Monitoring subscriptions:https://ieu-monitoring.com/ieu-store
• Tailored and targeted Insight EU Monitoring offers:ieu-monitoring.com/order-form
• FAQs for further information
• Free basic Insight EU Monitoring Digestieu-monitoring.com/free-digest