| EBF MORNING BRIEF Monday 14 February 2022 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
Reuters: Flexible approach needed in unwinding stimulus
The European Central Bank (ECB) will keep a flexible approach as it unwinds its ultra-expansionary monetary policy, monitoring not only inflation threats but also risks of uneven financing conditions across eurozone countries, ECB Governing Council member Ignazio Visco said. The ECB will update, and likely increase, its inflation forecasts in March. Sources told Reuters some council members already wanted policy changes this month. Read more
FT: UK regulators warn banks on the use of AI in loan applications
UK financial regulators have warned banks looking to use artificial intelligence (AI) to approve loan applications that they can only deploy the technology if they can prove it will not worsen discrimination against minorities. According to the Financial Times (FT), UK Finance said it recognized “the essential need to maintain public trust” as the industry explored the use of AI and acknowledged “potential unfair bias” was an issue. Read more
Bloomberg: Irish Central Bank Chief says ECB June rate hike unrealistic
It’s “unrealistic” that the European Central Bank (ECB) will raise interest rates in June, ECB Governing Council member Gabriel Makhlouf says. Makhlouf is “reasonably confident” the ECB’s bond-buying program will end this year, Bloomberg reports. Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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‘Access to better technology for (supervisory) reporting’ joint event |
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 | The EBF together with the EACB, EAPB, and ESBG is organizing on 18th February a workshop titled ‘Access to better technology for (supervisory) reporting’, as a follow-up to the EBA study on the cost of compliance published in 2021. In this report, the EBA made a series of recommendations aimed at improving the access to better technology for supervisory reporting and RegTech. The goal of this workshop is to enable participants to learn from each other and discover more about technologies that FinTech/RegTech providers have developed, and banks have been using for their supervisory reporting. Register now |
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FROM THE EBF MEMBERS Finance Finland: Finnish financial sector’s position on EU Taxonomy The EU Taxonomy is one piece in the EU measures to promote sustainable finance. Finance Finland supports the creation of a science-based sustainability classification in the EU but does not take a stand on what the criteria for eligible economic activities should be like outside of the financial sector. Read more
BdB: "Banking Secrets" Podcast
How can the proposed EU Green Bond Standard prevent greenwashing? What political framework is necessary to establish a reliable green bond standard? What is the role of banks and green bonds in transformation projects of bank clients? These are questions that the Association of German Banks (BdB)'s financing experts Emily Frank and Hendrik Hartenstein discuss with their guests in the latest episode of their podcast. Read more (DE)
Finance Latvia: Sustainability - from discussion to practical first steps
Ieva Tetere, Chair of the SEB Bank Management Board, member of Finance Latvia, writes on how 2022 will mark a turning point in the transition from rhetoric to more concrete action. Tetere says companies' business models will be increasingly scrutinized not only by financial institutions but also by consumers who will prefer sustainable products. Read more (LV) |
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FROM THE INSTITUTIONS ESMA: Prioritising the fight against greenwashing The European Securities and Markets Authority (ESMA) has published its Sustainable Finance Roadmap 2022-2024. ESMA identified three priorities for its sustainable finance work: tackling greenwashing and promoting transparency; building National Competent Authorities (NCAs) and ESMA’s capacities in the sustainable finance field; and monitoring, assessing, and analyzing ESG markets and risks. Read more
ECB: Gradual normalisation
'We need to be gradual in adjusting our policy', European Central Bank (ECB) President Christine Lagarde says. 'If we act too hastily, the economic recovery could be considerably weaker and jobs would be at risk', she adds. Read more ESRB: Vulnerabilities in residential real estate sector The European Systemic Risk Board (ESRB) has published warnings and recommendations on medium-term residential real estate vulnerabilities. The analysis shows that financial stability risks related to residential real estate continued to increase in several countries in the context of macroeconomic risks related to the COVID-19 pandemic and the continued strong dynamics in housing markets, housing credit, and household indebtedness. Read more |
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FROM THE EBF
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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