| EBF MORNING BRIEF Monday 14 December 2020 Good morning. Here are the top news stories and events in European banking, financial regulation and EU policy, brought to you by the European Banking Federation.
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FROM THE MEDIA
Politico: EU leaders demand banking union progress Eurozone leaders turned up the heat on their finance ministers to find a breakthrough on a banking union, reports Politico. In a statement following Friday's euro summit meeting, government heads called for more concrete work to better integrate their banking markets. Read more
The Guardian: BoE warns of market instability and financial disruption The Bank of England (BoE) has warned of volatile financial markets from a no-deal Brexit and disruption for customers of UK and EU banks should the two sides fail to strike an agreement before the end of the month, writes the Guardian. Read more FT: Eurozone banks set to restart dividend payments under strict limits Europe’s top financial regulators are expected to announce conditions tighter than those outlined by the Bank of England, the FT reports. Read more (€) |
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MAIN EVENTS today -
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SRB/ Industry Dialogue online meeting -
EBF Exco Financial Crime Strategy Group virtual meeting -
EBF Data Economy High-Level Working Group virtual meeting
For more events check the EBF planning calendar HERE
*All events take place in Brussels unless stated otherwise
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FROM THE EBF MEMBERS
Finance Denmark: Historically low interest rates increase the pressure Finance Denmark reports that national banks' interest margin has been pushed to their lowest. Low interest rates are one of the biggest challenges for the banking sector, as it puts pressure on banks' earnings on their core business. Read more (DK)
CBA: Repayment of loans and their restructuring after the moratorium The Czech Banking Association (CBA) conducted a survey among banks to find out, under the moratorium, how many clients repaid their loans. Banks are keeping their word and trying to find, if possible, individual solutions for clients affected by the coronavirus pandemic. Read more (CE)
HUB: Hopes for a quick economic recovery Zdenko Adrović, Director of the Croatian Banking Association (HUB), explaines how banks are contributing to overcoming the Covid-19 crisis and what is their role in the economic recovery. Read more (HR) |
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FROM THE INSTITUTIONS
Commission welcomed Capital Markets Recovery Package agreements
The European Commission welcomed the agreement reached by the European Parliament and the Council on important amendments to the Prospectus Regulation, as part of the Capital Markets Recovery Package. The Commission proposed these amendments on 24 July 2020. Read more
EBA published the annual Risk Assessment of the EU banking system
EBA published its annual Risk Assessment of the European banking system. The report is accompanied by the publication of the 2020 EU-wide transparency exercise, which provides detailed information, in a comparable and accessible format, for 129 banks across 26 EEA / EU countries and for 6 banks from UK. Despite the COVID-19 shock, banks have maintained solid capital and liquidity ratios and have increased their lending to the real economy. Read more
ECB: Eurosystem staff macroeconomic projections for the euro area
ECB published the Eurosystem staff macroeconomic projections for the euro area as of December 2020. Even though the near-term outlook has deteriorated, the path of euro area GDP from 2022 is expected to be broadly similar to that foreseen in the September 2020 ECB staff projections. Read more European Commission weekly schedule Find out more about the European Commission's engagement and activities for the upcoming week. Read more
European Central Bank weekly schedule Find out more about the ECB's engagements and activities for the upcoming week. Read more
European Parliament weekly schedule Find out more about the Parliament's engagements and activities for the upcoming week. Read more |
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FROM THE EUROPEAN BANKING FEDERATION
EBF Cloud Banking Forum: LinkedIn articles
Between October and December 2020, members of the EBF Cloud Banking Forum wrote LinkedIn articles to raise awareness on three technical papers published by the Forum, delivering technical guidance for the adoption and usage of cloud computing under the regulatory framework in Europe. Read more
Joint trade associations letter requesting DTO equivalence The EBF and seven other trades associations (the Association for Financial Markets in Europe, the Alternative Investment Management Association, the International Swaps and Derivatives Association, Electronic Debt Markets Association Europe, the European Venues and Intermediaries’ Association, FIA and the asset management group of the Securities Industry and Financial Markets Association) sent a letter requesting that the European Commission recognize the equivalence of UK trading venues for the purposes of the derivatives trading obligation before the end of the Brexit transition period. Otherwise, the long-term consequences for use of market infrastructure are uncertain. Read more |
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The European Banking Federation and fTLD Registry Services (fTLD) are partnering to educate the European banking sector about the cybersecurity role .BANK plays in protecting banks against Business Email Compromise (BEC) scams, phishing and spoofing attacks that lead to breaches, identity theft and financial fraud. fTLD administers the .BANK domain and the EBF has served on its Advisory Council since 2013. To learn more about the security benefits of .BANK, visit https://www.register.bank/ebf/ or contact fTLD at [email protected]. |
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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. The EBF 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. |
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This newsletter is published by the EBF Mediacentre.
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