EBF MORNING BRIEF Monday 19 December 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: EU back Russia sanctions on drone imports and banks EU member states reached a deal on the ninth package of sanctions on Russia over its invasion of Ukraine, targeting Moscow’s access to drones, additional banks as well as officials responsible for allegedly abducting children from Ukraine. In detail, sanctions will target three banks: the Russian Regional Development Bank, Credit Bank of Moscow, and Dalnevostochny Bank, Bloomberg reports. Read more
Reuters: ECB bars policymakers from speculating after backlash
The European Central Bank (ECB) has banned its top officials from picking stocks and bonds or making short-term trades. According to Reuters, rate-setters and bank supervisors at the ECB will no longer be allowed to invest in individual stocks or bonds but only in "broadly diversified" funds and will have to hold those investments for at least one year. Read more
Finextra: UK updates on new Open Banking entity
UK authorities have published an update on plans for a successor to the Open Banking Implementation Entity (OBIE). As reported by Finextra, the new Joint Regulatory Oversight Committee has identified three priorities for Open Banking: supporting competition and innovation, adopting a scalable model for data sharing, and establishing a sustainable footing for the development of the Open Banking ecosystem. 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: Energy crisis and inflation In a blog by the Dutch Banking Association (NVB), Marco Florijn discusses the statement on debt restructuring signed by over 30 umbrella organizations, including the banking sector. This agreement's objective is to support those who lose their income or can no longer manage their expenses due to the energy crisis and inflation. Read more (NL)
BdB: The latest rate hike is a clear signal
'The European Central Bank (ECB) remains firmly opposed to inflation. The interest rate increase of 50 basis points is a clear signal," said Henriette Peucker, Deputy Chief Executive of the Association of German Banks (BdB), with a view to the latest ECB Council meeting. For the banking association, the slightly smaller interest rate step is no indication that the end of the interest rate tightening is approaching. Read more (DE)
SBA: Open Finance: an opportunity for the financial center
The Federal Council published the objectives set by the Federal Department of Finance (FDF) for Open Finance in Switzerland. The Swiss Bankers Association (SBA) generally welcomes the objectives. Many aspects have already been addressed and the SBA continues to actively commit itself, as do its members, to achieving these objectives. Read more (FR) |
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The EBF Facts & Figures 2022 are out!
Building on 2021 data from the European Central Bank,
our annual update on the banking sector in Europe found that,
despite the Covid crisis and relatively low profitability,
European banks played a key role in Europe’s financial system
while continuing the structural transformation of the sector
with the intent of increasing efficiency and enhancing profitability.
Do you want to learn more about the lending performance
and deposit trends in your country? |
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FROM THE INSTITUTIONS
EBA: Standardised information requirements to support sales and transfers of non-performing loans
The European Banking Authority (EBA) published its final draft Implementing Technical Standards (ITS) specifying the requirements for the information that credit institutions selling NPL shall provide to prospective buyers. The objective of the draft ITS is to provide a common data standard for the NPL sales or transfers across the EU enabling cross-country comparison. Read more
ESMA: New Chairs of Standing Committees
The European Securities and Markets Authority (ESMA) has changed the structure of its standing committees and elected new Chairs. The election took place at the Board of Supervisors meeting in Paris on 14 December. Read more
ECB: Rules for private financial transactions of high-level officials
The European Central Bank (ECB) published an enhanced Code of Conduct for all high-level ECB officials. These new rules, prepared by the ECB’s independent Ethics Committee, impose additional restrictions on the private financial transactions of high-level ECB officials, including Governing Council, Executive Board, and Supervisory Board members. Read more |
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FROM THE EBF
EBF: Facts and Figures 2022
The European Banking Federation (EBF) has published Facts & Figures 2022, its annual update on the banking sector in Europe. Data from 2021 show that, despite the Covid crisis and relatively low profitability, European banks played a key role in Europe’s financial system while continuing the structural transformation of the sector. Read more
New 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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This newsletter is published by the EBF Mediacentre.
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