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  • Catalysing Productivity And Growth: A Change In Mindset On Financial Inclusion - Speech By Nikhil Rathi, UK Financial Conduct Authority Chief Executive, Delivered At StepChange Connected 2024

    Date 19/09/2024

    Highlights

    • Financial inclusion and growth need not be mutually exclusive.
    • There cannot be genuine financial inclusion without digital inclusion.
    • This will require a change in mindset, a different conversation about risk and innovation, and a systemwide effort - not just for government and regulators, but also for employers and schools.

  • Net Interest Margin Of EU/EEA Banks Slightly Decreased On A Quarterly Basis

    Date 19/09/2024

    The European Banking Authority (EBA) today published its Q2 2024 quarterly Risk Dashboard (RDB), which discloses aggregated statistical information for the largest EU/EEA institutions.

    • EU/EEA banks’ return on equity (RoE) remained nearly unchanged on a yearly basis, reaching 10.9%, 10bps lower than one year ago. On a quarterly basis the RoE increased by 30bps, mainly driven by a rise in other operating income.
    • The net interest margin (NIM) declined slightly (1.68% in Q2 vs. 1.69% in Q1, 1.60% one year ago), indicating that it might have reached its peak in Q1 2024. As volume growth could not compensate for the negative impact from the NIM, net interest income declined slightly on a quarterly basis.
    • EU/EEA banks’ common equity tier 1 (CET1) ratio rose on a fully loaded basis by 10bps to 16.1% in Q2 2024. The liquidity coverage ratio (LCR) and net stable funding ratio (NSFR) similarly rose in the second quarter (from 161.7% to 163.2% and from 127.3% to 127.8%, respectively). In the LCR’s numerator, the share of cash and reserves held by EU/EEA banks further decreased, while the share of central government assets increased.
    • Loans to households and non-financial corporates slightly increased over the quarter. Sovereign exposures increased since the end of last year by around EUR 200bn (+5.5%), accompanied by a rise of the share of exposures recognised at fair value, and a rise of the share of shorter-term maturities. The non-performing loan (NPL) ratio remained stable at 1.9%, with material divergences across segments.

  • FESE Note On The Scope Of ICT Services Under DORA

    Date 19/09/2024

    FESE members are currently intensely implementing the obligations prescribed by DORA and have appreciated the recent rollout of a dry-run exercise organised by the ESAs on the registers for information (here). In this context, it became apparent both to financial market participants and the European Supervisory Authorities (ESAs) that clarification on key concepts under DORA is needed to ensure effective implementation and a smooth transition towards the application date.

  • SIX Makes Strategic Investment In Carbonfuture, A Leading Digital Infrastructure Provider For The Carbon Removal Market

    Date 19/09/2024

    SIX leads the Series A funding round in Carbonfuture to jointly develop a reliable, scalable and integrity-driven durable Carbon Dioxide Removal (CDR) ecosystem. This strategic investment marks the entry of SIX into the growing carbon removal market and an expansion into a new asset class.

  • Bank Of England: Bank Rate Maintained At 5% - September 2024 - Monetary Policy Summary And Minutes Of The Monetary Policy Committee Meeting

    Date 19/09/2024

    Monetary Policy Summary, September 2024

    The Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target, and in a way that helps to sustain growth and employment. The MPC adopts a medium-term and forward-looking approach to determine the monetary stance required to achieve the inflation target sustainably.

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