| EBF MORNING BRIEF Monday 25 October 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 Reuters: New global rules leave just 10 big EU banks short of capital Only 10 major European banks may need to raise capital as a result of the rollout of new global rules and their shortfall could be smaller than 27 billion euros, according to a draft European Union regulation seen by Reuters. The directive, which is due to be published this week, also gives supervisors the power to impose requirements relating to climate risk and contains stricter rules for branches of foreign banks in the EU. Read more
FT: UK’s first green savings bond offers a lower rate than competitors
The inaugural UK green savings bond will offer buyers a lower return on their investment than competing products as the government banks on investors’ environmental commitment to drive demand, the Financial Times (FT) reports. National Savings & Investments, the government-backed savings scheme, said its first green bond, which went on sale on Friday, will come with a fixed rate of 0.65 percent over three years. Read more
EU Reporter: European Parliament pushes for accelerated climate action worldwide
The Parliament has adopted its position on the UN COP26 Climate Change Conference in Glasgow, taking place from 31 October to 12 November. In the resolution, MEPs said that the EU must remain a world leader in the fight against climate change. To accelerate the pace of climate action, MEPs want the EU to replace the current 10-year plan with a 5-year timeframe for all countries while phasing out all direct and indirect fossil fuel subsidies by 2025. They call on all other countries to take similar measures, the EU Reporter concludes. Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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REGISTRATION OPEN! "Banks & insurers role in supporting the sustainability transition: investment, lending, underwriting"
COP26: European Union side event co-organized by the EBF with Insurance Europe & ClimateWise
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 | Banks and insurers play an important role in the transition to sustainability. Innovation in investment, underwriting products, lending, and saving is necessary to grow sustainable activities and drive a rapid transition. On 4 November, we will explore the practical actions and tools used by banks and insurers to support the sustainability transition at the "Banks & insurers role in supporting the sustainability transition: investment, lending, underwriting" COP26 side event organized with Insurance Europe and ClimateWise. Register HERE |
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FROM THE EBF MEMBERS
AEB: The neo: Financial ecosystem and some of its risks
With the term neobank, we refer to emerging financial companies that are characterized by intensive use of technology (Fintech). Some of these entities may be banks, but others may not, being able to avail themselves of other licensing modalities. According to the Spanish Banking Association (AEB), some of the risks related to Fintech can be solved with clearer communication from operators, including the authorities, while others require stronger regulatory intervention. Read more (ES)
BdB: "Bank Secrecy": Podcast on sustainability in corporate finance
In the third episode of the podcast by the Association of German Banks (BdB), they talk about the interaction between companies and banks in the sustainable restructuring of the economy. Andreas Wagner, responsible for Sustainable Finance at HypoVereinsbank, UniCredit Germany, provides answers and looks outside the box when it comes to ethics and financial services. Read more (DE)
LBA: At the end of the day, we are measured by the seriousness
The Liechtenstein Bankers Association (LBA) has been campaigning for sustainability issues for years. Much has already been achieved in the financial center, but much remains to be done, LBA Managing Director Simon Tribelhorn makes clear in an interview. "Commitments and measurable goals are essential to achieve more sustainability. Measurability of goals enables verification and comparison, which can prevent greenwashing and marketing bubbles", he says. Read more (DE) |
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FROM THE INSTITUTIONS
EBA replies to the European Commission’s call for advice on funding in resolution and insolvency as part of the review of the crisis management and deposit insurance framework
The European Banking Authority (EBA) published its advice to the EU Commission on funding in resolution and insolvency as part of the review of the crisis management and deposit insurance (CMDI) framework. The EBA response provides quantitative analysis on banks’ capacity to access available sources of funding under the current framework and under various creditor hierarchies and with regards to the minimum requirement for own funds and eligible liabilities (MREL). Read more
ESAs propose new rules for taxonomy-related product disclosures
The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have delivered to the European Commission (EC) their Final Report with draft Regulatory Technical Standards (RTS) regarding disclosures under the Sustainable Finance Disclosure Regulation (SFDR) as amended by the Regulation on the establishment of a framework to facilitate sustainable investment (Taxonomy Regulation). The disclosures relate to financial products that make sustainable investments contributing to environmental objectives. Read more BIS: The role of prudential policy in addressing climate change Fernando Restoy, Chairman of the Financial Stability Institute at the Bank for International Settlements (BIS) discussed the implications of climate change for banks and banking regulation. "By adjusting the prudential framework to the extent needed to incorporate the impact of climate-related risks, regulation can support broader government policies and societal expectations geared towards economic sustainability. Well-designed general government policies that facilitate a sensible transition path are needed to help regulators meet their core mandate by reducing the scope of policy trade-offs", he says. 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 EBF
European Banking Federation announces support for Net-Zero Banking Alliance
The European Banking Federation (EBF) today became the first official supporter of the Net-Zero Banking Alliance (NZBA), an industry-led, UN-convened international initiative focused on delivering the banking sector’s ambition to align its climate commitments with the Paris Agreement goals. With this move, the EBF commits to further step up its efforts to accelerate the banking sector transition to net zero and facilitate its member banks’ ambitions to achieve this goal. Read more
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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