EBF MORNING BRIEF Monday 22 February 2021 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
S&P: European investment banks set for strong finish to boom trading year With Deutsche Bank AG, BNP Paribas SA and UBS Group AG reporting strong fourth-quarter trading revenues earlier in February, other leading European investment banks such as Credit Suisse Group AG, Barclays PLC and HSBC Holdings PLC are also expected to end the boom trading year 2020 on a high note, reports S&P Global. Read more Bloomberg: Traders set to win spoils in Europe’s uneven bank bonus days European banks are walking a narrower tightrope than usual this bonus season as they seek to pay enough to keep top traders and investment bankers motivated while not attracting the ire of regulators, writes Bloomberg. Read more Cryptonews: Public and private money can coexist in the digital age Central banks should not face a choice between either offering central bank digital currency, or encouraging the private sector to provide its own digital variant. The two can coincide and complement each other, for example, to the extent central banks make certain design choices and refresh their regulatory frameworks, write International Monetary Fund's Tobias Adrian and Tommaso Mancini-Griffoli. Read more |
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MAIN EVENTS today For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS
Bankenverband: Business location, Germany in global competition
The Association of German Banks (Bankenverband) publishes the results of its survey "Business location: Germany in global competition." The situation is significantly changing: many Germans cannot keep up with technological and scientific progress. Read more (DE)
SBA: It's high time for a state-recognized electronic identity
Switzerland finally needs a state-recognized electronic identity. The corresponding federal law, which is available for voting, is ideally suited to ensure security, data protection and a rapid dissemination of the E-ID, writes Richard Hess of the Swiss Bankers Association (SBA). Read more (DE)
UK Finance: Ensuring the right future regulatory framework UK Finance supports the broad thrust of the financial services future regulatory framework review from HM Treasury. However, on its own even this enhanced framework will not be proof against what may come to pass in the next 20 years. How its components compel and incentivise its participants to act will be equally critical to its success. Read more |
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Join and register for free EPFSF Virtual Winter Conference 2021: “Shaping the Future of Europe” Online conference, 23-24 and 25 February 2021
The EPSF Virtual Winter Conference 2021 “Shaping the Future of Europe” organised by the European Parliamentary Financial Services Forum (EPFSF) will start on Tuesday 23 February. The conference will be opened by Commissioner McGuinness delivering a high-level address, and a closing keynote message by the Secretary of State of Finance of Portugal, João Nuno Mendes. Throughout the conference, members of the European Parliament’s various committees, expert panellists, including EBF members will discuss various topics focusing on the kind of economic and financial system Europe seeks to support for its citizens.
Register and find out more HERE |
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FROM THE INSTITUTIONS ECB: Annual accounts 2020 The ECB’s balance sheet increased to €569 billion and we recorded a profit of €1.643 billion, which was distributed to the euro area national central banks. Find out more about our financial position and the results of our operations in our 2020 annual accounts. Read more
European Commission launches process on personal data flows to UK
The European Commission has launched the process towards the adoption of two adequacy decisions for transfers of personal data to the United Kingdom, one under the General Data Protection Regulation and the other for the Law Enforcement Directive. They have published the draft decisions. The European Data Protection Board (EDPB) will form its opinion, followed by the final decision of EU member states. Read more
BIS: Use of big data sources and applications at central banks
Big data sources are developing fast, and applications for making use of this new information are flourishing in parallel. This primarily reflects the impact of digitisation, with the development of the “internet of things” as well as a greater ability to digitally process “traditional” information, such as text. It is also a consequence of the large databases that have been created as an “organic” byproduct of the complex operations taking place in our modern societies, reports the latest Irving Fisher Committee on Central Bank Statistics analysis. Read more European Commission weekly schedule Find out more about the European Commission's engagement and activities for the upcoming week. Read more European Central Bank weekly schedule Find out more about the ECB's engagements and activities for the upcoming week. Read more
European Parliament weekly schedule Find out more about the Parliament's engagements and activities for the upcoming week. Read more |
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FROM THE EUROPEAN BANKING FEDERATION
Ana BotĂn appointed as new EBF President
The European Banking Federation today takes great pride in the appointment of Ana BotĂn-Sanz de Sautuola y O’Shea, Group Executive Chairman at Banco Santander SA, as its next President. She will succeed Jean Pierre Mustier, Chief Executive Officer of Unicredit Group. Ana BotĂn’s appointment is for a two-year term. Read more
Data reporting: EBF supports single EU data dictionary The European Banking Federation is calling on all financial sector authorities in the European Union to support the creation of a single EU data dictionary. Such dictionary is to be the key cornerstone underpinning a much-needed integrated and standardized framework for data reporting that can contribute to better supervision and support financial stability by enabling improved data quality and reducing the reporting burden for financial institutions. Read more |
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Join and register for free The Evolution of Cloud Banking:
Successful Implementation & Frameworks Online webinar, Tuesday 2 March, 15:30 CET / 14:30 GMT
As customer interactions become digital by necessity and as mandatory remote working become “normal,” public cloud adoption and migration has moved to the top of banking institutions’ C-suite agendas. In a world where business disruption is the rule and not the exception, banks need IT environments that are optimized to support change. Public cloud offers a range of cost, agility and efficiency benefits, but it’s not just about technology.
Register and find out more HERE |
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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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