| EBF MORNING BRIEF Monday 21 March 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
FT: Banks and Russia: there is no easy way out
The speed and severity of the invasion and western retaliatory sanctions have wrong-footed banks still operating in Russia. According to the Financial Times (FT), western bank executives are preparing for three unpalatable and complicated scenarios: selling up, winding down, or passing on the business to the state. And at this stage, bankers say they are struggling to understand their options. Read more
POLITICO: Brussels split over who will be crypto watchdog
Legislators in Brussels are divided over which financial regulator should take the lead when it comes to supervising crypto companies. As reported by POLITICO, the division lies between EU governments in the Council and the European Parliament. While the Council is adamant that the title of crypto watchdog should go to the European Banking Authority (EBA), the Parliament is convinced the European Securities and Markets Authority (ESMA) is best suited for the job. Negotiators will soon convene to finalize a bill that aims to regulate the EU’s markets in crypto assets, dubbed MiCA. Read more
EU Reporter: Macroprudential measures credit positive for German, Austrian banks
Proposed capital and non-capital macroprudential measures in Germany and Austria to contain systemic risks on housing loans are credit positive for the countries’ banks, EU Reporter says. The measures recommended by the European Systemic Risk Board (ESRB) would improve banks’ capacity to absorb shocks. Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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STARTING TODAY European Money Week 2022 |
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 | Financial literacy lies at the heart of a resilient and inclusive society, yet only about half of Europeans have the right skills to make sound decisions about money. This European Money Week, we’re putting financial skills front and center in Brussels and around Europe. Starting today, we’re going to examine how to build financial awareness and what type of skillset you need to navigate your personal finances. The campaign will also explore the link between financial competencies, capital markets, and sustainability.
Do you have the right skills to make informed decisions about money?
Find it out!
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FROM THE EBF MEMBERS Febelfin: Corporate sustainability opportunities and ESG reporting Sustainability is high on the corporate agenda: more companies are striving to meet sustainability requirements in the area of environmental, social, and governance (ESG). Febelfin has collaborated with the Federation of Belgian Enterprises (FEB) and Canal Z to put this topic in the spotlight: the new series 'Z-Sustainable Finance' addresses the opportunities surrounding sustainable business and ESG reporting. Read more (FR) AEB: Manifesto to facilitate access and use of digital technologies The Spanish Banking Association (AEB) has endorsed the Manifesto to facilitate access to and use of digital technologies by the elderly. This Decalogue of measures has been created to facilitate access to and use of digital technologies for older people and contribute to their empowerment. Read more (ES)
LBA: Payments to Russia and Belarus: plan ahead
The European Union and other countries have imposed sanctions on Russia over its war in Ukraine and are continuously renewing them. Lithuania's credit institutions are applying extended verification processes for payment transactions related to Russia and Belarus, which take longer than the normal procedures. The Lithuanian Banking Association (LBA) recommends that customers with business relations with these countries plan their payment orders in advance, informing financial institutions of expected payments. Read more (LT) |
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FROM THE INSTITUTIONS ECB: A new age of energy inflation The green transition is likely to lead to a prolonged period of inflationary pressures, says European Central Bank (ECB) Executive Board member Isabel Schnabel. We will continue to protect people’s purchasing power, green our operational framework and act as a catalyst for change in financial markets. Read more
EBA: Revised Guidelines on common procedures and methodologies for the supervisory review and evaluation
The European Banking Authority (EBA) published its final revised Guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP) and supervisory stress testing. The revisions aim at implementing the amendments to the Capital Requirements Directive (CRD V) and Capital Requirements Regulation (CRR II) and promoting convergence towards best supervisory practices. Read more
ESMA: Verena Ross delivers a keynote speech at the EACT Summit
The European Securities and Markets Authority (ESMA) Chair, Verena Ross, delivered the keynote speech at the European Association of Corporate Treasurers (EACT) Summit. She talked about corporate reporting, corporate sustainability disclosure, and the European Single Access Point as well as addressing Credit Rating Agencies supervision, including Environmental, Social, and Governance (ESG) ratings. 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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