EBF MORNING BRIEF Monday 17 October 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
Bloomberg: Europe to allow bank guarantees to ease energy margin
The European Securities and Markets Authority (ESMA) proposed measures to ease the stress of margin calls in energy markets, paving the way for uncollateralized bank guarantees to be used as collateral. As reported by Bloomberg, it said it would allow guarantees from governments and development banks for all types of counterparties, including those without physical exposure. Read more
Reuters: ECB policymakers put balance sheet run-off on the table
According to Reuters, two key European Central Bank (ECB) policymakers made the case for a cut in the bank's oversized balance sheet, indicating that the next key policy debate will be on how to run down the ECB's more than 5 trillion euros worth of bonds. Read more
Euronews: ECB need 75 bps rates hikes in Oct before balance sheet cut
The European Central Bank (ECB) should raise interest rates by 75 basis points at both of its upcoming meetings this year, ECB policymaker Bostjan Vasle said. He added that 0.75% deposit rate is still low enough to stimulate growth, but needs to be jacked up to levels where it starts putting the brake on the economy, Euronews 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
NVB: The importance of a clear legal framework for a digital euro
A clear legal framework is key for a digital euro, argues Bart Bierens, Senior Legal Counsel at Rabobank. In the fourth white paper by the Dutch Banking Association (NVB), he discusses a number of legal aspects, the place of the new currency in national and international legislation and the role of banks. Read more (NL)
BdB: Affordable energy crucial for Germany as a business location
“We need a European financial market that is attractive worldwide. An efficient capital market and competitive banks should be a model for European regulatory and foreign trade policy,” Christian Sewing, President of the Association of German Banks (BdB) says. The European single financial market must become a reality, he emphasized. Read more (DE)
Febelfin: Crisis energy: Figures on payment of the credits mortgage
In response to the energy crisis, the Belgian financial sector has committed itself to helping people by offering deferral in mortgage payments. A few days after the introduction of these support measures, Febelfin offers an analysis of the first figures. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: Christine Lagarde: IMFC Statement
Christine Lagarde, President of the European Central Bank (ECB) discussed the global outlook for inflation and the economy at the International Monetary and Financial Committee (IMFC). 'Monetary policy must ensure inflation does not become entrenched, and returns to target in the medium term,' she said. Read more
EBA: List of third country groups and third country branches of credit institutions operating in the EU/EEA
The European Banking Authority (EBA) published the list of all third country groups operating in the EU and European Economic Area (EU/EEA) with the intermediate EU parent undertakings IPU(s), where applicable. The EBA also published the list of all third country branches of credit institutions authorised to operate in the EU/EEA. Read more
ESMA: Temporarily amends CCP collateral requirements to provide liquidity relief on energy derivatives markets
The European Securities and Markets Authority (ESMA) proposed measures to alleviate the liquidity pressure on non-financial counterparties (NFCs) active on gas and electricity regulated markets cleared in EU-based CCPs. 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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