📰 EBF Morning Brief - Monday 20 June: BNP Paribas shows interest in buying ABN Amro

FROM THE MEDIA

Bloomberg: BNP Paribas shows interest in buying ABN Amro

BNP Paribas has expressed interest in a potential acquisition of ABN Amro Bank, the Dutch consumer lender that’s been government-owned since the financial crisis, according to people with knowledge of the matter. A recent push to revive long-stalled negotiations over a single market for banks and rising rates are boosting prospects for deal-making, though other obstacles have emerged, according to Bloomberg. Other banks have also approached the Dutch government to express interest in ABN Amro. Read more

Reuters: ECB won't solve profound debt issues

The European Central Bank (ECB) should limit the rise in borrowing costs of more indebted eurozone members but will not solve their debt issues or let budget concerns dictate monetary policy, ECB policymaker Olli Rehn said. As reported by Reuters, ECB action will only go as far as preventing "unwarranted" market moves and will not help countries in case of profound debt issues, he said. Read more

Finextra: Irish banks get the green light for payments app

A payments app developed by Ireland’s high street banks to compete with the likes of Revolut has been given the all-clear by the Competition & Consumer Protection Commission (CCPC), Finextra reports. The money-transfer app was developed by a joint venture, Synch Payments, set up by AIB, Bank of Ireland, KBC Ireland, and Permanent TSB. Read more

MAIN EVENTS

European Commission and EIB ‘Cohesion policy financial instruments for REPowerEU and the New European Bauhaus’ event

The International Arab Banking Summit IABS 2022 (Sebastien De Brouwer, EBF Chief Policy Officer speaking)

Florence School of Banking and Finance 'Cyber risks and resilience' course (Alexandra Maniati, EBF Senior Director, Innovation & Cybersecurity speaking)

Accountancy Europe 'ESG & Corporate Governance: The evolving role of audit committees' event

DIGITALEUROPE’s Summer Summit 2022

For a full-year overview of key financial regulation events: click here

FROM THE EBF MEMBERS

NVB: Joint transaction monitoring in the fight against criminal money

Banks are obliged to monitor all transactions to prevent money laundering. Criminals often use multiple bank accounts at multiple banks but unusual transactions can only be tracked within the administration of one bank. If banks can share these types of transactions with Transaction Monitoring Netherlands (TMNL), monitoring and detection will become more effective, according to the Dutch Banking Association (NVB). Read more (NL)

SBA: SNB with a warning finger and new openness

The Swiss National Bank (SNB) Report on financial stability shows that the two big banks are resilient and they can deal with the risks arising from the war in Ukraine. Domestically, focused banks are also in solid shape, as reported by the Swiss Bankers Association (SBA). Read more (DE)

CBA: Banks and mobile operators will help digitize the state

The digitization of the Czech Republic will receive another significant impetus as mobile operators will also cooperate with banks in its development. The Czech Banking Association (CBA) and the Association of Mobile Network Operators (APMS) have indeed signed a memorandum of cooperation. Read more (CZ)

FROM THE INSTITUTIONS

ECB: New facts on consumer price rigidity in the euro area

The European Central Bank (ECB) published the working paper called New facts on consumer price rigidity in the euro area. This paper documents new evidence on the adjustment of consumer prices at the micro-level in the euro area. To do this, ECB uses country micro price datasets provided by the national statistics institutes (NSIs) of euro area countries. Read more

EIOPA consults on its supervisory statements on exclusions in insurance products arising from systemic events and on the management of non-affirmative cyber exposures

The European Insurance and Occupational Pensions Authority (EIOPA) published two consultation papers on the supervisory statement on exclusions related to systemic events such as pandemics, natural catastrophes, or large cyber-attacks and on the supervisory statement on the management of non-affirmative cyber exposures. Read more

BIS Innovation Hub announces new projects and expands cyber security and green finance experiments

The Bank for International Settlements (BIS) Innovation Hub is announcing a new set of projects across its various centers, updating its 2022 work program. They include the first three projects of the upcoming Euro system Centre and the first comprehensive explorations in cyber security. Read more

FROM THE EBF

EBF response to European Commission’s Targeted Consultation on a digital euro

Continuing its active and multi-level contribution to the public debate on the possible creation of a digital euro, the EBF has responded to the related European Commission’s targeted consultation. This is a key topic for the European banking industry as a digital euro seeks to respond to the unprecedented speed of digitalization of the economy and payments, and has the potential to fundamentally impact the banking system. Read more

EBF response to SEC climate disclosure requirements June 2022

In its response to the SEC climate disclosure requirements, the European Banking Federation (EBF) highlights the need for the SEC to create an outcomes-based substituted compliance regime, avoid changes in accounting policies, and the need for the SEC to continue engaging with the ISSB and other jurisdictions’ standard setters to align global climate disclosure requirements. 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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