EBF MORNING BRIEF Monday 15 May 2023 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
FT: ECB too lax in supervising Europe’s largest banks, watchdog warns
The European Central Bank (ECB) is too lax in supervising the eurozone’s largest lenders, the EU’s external auditor has said, as it called for greater assurances that “credit risk is properly managed and covered”. As reported by the Financial Times (FT), the auditor hit out at the ECB for being insufficiently aggressive in pushing eurozone banks to reduce high levels of non-performing loans. Read more
Finextra: EU Parliament in favour of tougher rules for AI Act
The European Parliament lawmakers reached an agreement on a strict set of rules on AI use in the EU to rein in AI systems and ensure transparency and security. According to Finextra, the next step of negotiations on the AI Act will be finalized in June 2023. Read more
Bloomberg: More ECB rate hikes possible, size depends on data
The European Central Bank (ECB) may not be done with increasing borrowing costs, according to Vice President Luis de Guindos. Guindos added Europe’s incomplete banking union is a major source of risk to the continent’s lenders, 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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FROM EBF MEMBERS BPFI: Younger people more likely to invest in cryptocurrencies Younger people in Ireland are more likely to invest in cryptocurrencies, invest online and use informal information sources when investing according to a new survey published by Banking & Payments Federation Ireland (BPFI). Read more Finance Norway: Preparedness and business The Defense Commission and the Total Preparedness Commission are finalizing their reports to assess and provide recommendations about the role of business in these fields. Næringslivet's Security Council, founded by Finance Norway, is organizing two webinars on the importance of the commissions for the business world. Read more(NO)
NVB: Basic payment accounts for business customers
Banks are investigating the options and conditions for a basic current account for business customers. At the beginning of July, the Dutch Banking Association (NVB) will have worked out a first proposal for such a basic business payment account, in collaboration with the Dutch Payments Association. Read more(NL) |
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FROM THE INSTITUTIONS ESMA: High degree of concentration in natural gas derivatives markets The European Securities and Markets Authority (ESMA) published a study on the structure and functioning of EU natural gas derivatives markets, and potential risks for financial stability. Read more EBA: Draft technical standards on the prudential consolidation of an investment firm group and completes its Roadmap on investment firms The European Banking Authority (EBA) published its draft Regulatory Technical Standards (RTS) on the scope and methods of consolidation of an investment firm group under the Investment Firms Regulation (IFR). Read more BIS: Market intelligence at central banks Market Intelligence (MI) is a key element in central bank operations and policy analysis, the Bank for International Settlements (BIS) reports. It is an important tool to inform monetary policy decisions, monetary policy implementation, reserves management, or financial stability risk assessments. Read more |
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FROM THE EBF
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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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