EBF MORNING BRIEF Monday 29 November 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: ECB sticks to ending emergency support in March despite new COVID threat
The European Central Bank (ECB) still plans to end its emergency bond purchases in March despite threats from a new variant of the coronavirus and rising infections, Reuters reports. "PEPP will end as planned with a size of 1.85 trillion euros ($2.1 trillion) at the end of March. We will discuss the alternatives in December", Luis de Guindos says. Read more
Cointelegraph: New German government cites crypto in coalition agreement
The new German coalition is aiming to make the “European financial market supervisory law” fit for crypto-assets and businesses, the Cointelegraph says. According to a rough translation of the 177-page agreement, the coalition calls for a new “dynamic in relation to the opportunities and risks from new financial innovations,” such as crypto assets and blockchain businesses. Read more Risk.net: EBA warns banks over loan-loss model tinkering According to Risk.net, the European Banking Authority (EBA) is asking supervisors to review the practices banks use to calculate expected credit losses (ECLs), after observing instances of credit risk models being tweaked to produce more favorable numbers that result in lower provisioning. During the pandemic, many banks rapidly revised their ECL models to reduce the variability of their loan-loss forecasts, a report by the EBA found. 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! Are Europe's Capital Markets ready for the Future?
Europe's Green & Digital Transition a Year after the CMU |
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| | On 6 December 2021, join the EBF Market4Europe online event to discover more on what Capital Markets can do for the green and digital transition and how to get there. A panel of high-level speakers will explore trends for investors and companies accessing sustainable investments while taking stock of what the European Commission has achieved so far to complete the CMU and what remains to be done. |
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FROM THE EBF MEMBERS
Finance Finland: Consolidated market data, centralized access to corporate reports, harmonized liquidity management
The European Commission has published its legislative proposals designed to contribute to achieving the objectives of the Capital Markets Union. The proposals include, for example, changes to the use and distribution of market data. "The proposal also harmonizes the data reported on different financial instruments and increases transparency”, explains Satu Wennberg, Head of consumer protection at Finance Finland. Read more
BdB: Funding policy measures to stabilize the economy - what have been the lessons learned so far?
Are funding policy measures suitable for stabilizing the economy during the pandemic? This is the question that the Association of German Banks (BdB) asked Jens Sossong, Senior Specialist Financial Engineering, Coordinator Task Force Public Funds at Commerzbank, Detlev Kalischer, Head of Mittelstandsbank and Private Customers at KfW and Guy Selbherr, Chairman of the Board of the Verband Deutscher Bürgschaftsbanken eV and Board member of the Bürgschaftsbank Baden-Württemberg, GmbH. Read more (DE)
Finance Denmark: Common European database will help companies attract capital
The European Commission has published a proposal for the establishment of a common European digital database for business information, a so-called European Single Access Point (ESAP). ESAP will strengthen companies' opportunities to attract capital across EU countries by making their information more accessible and transparent to investors. Finance Denmark calls for prioritizing ESG data supporting the sustainable transition. Read more (DK) |
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| | As global banking undergoes a radical transformation, this Summit will gather the world's top banking CEOs to plot the route to differentiation, profitability, and growth. Covering themes including better banking, financial crime, disruptech, geo-politics, and banking strategy, join over 100 speakers as we assess the national and international landscape in key markets all around the world. Be part of the conversation with the industry’s leaders to share insights, knowledge, and plans for the crucial period ahead. Register HERE |
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FROM THE INSTITUTIONS
ESMA: Risk Dashboard
The European Securities and Markets Authority (ESMA) published the second Risk Dashboard for 2021, covering the third quarter of the year. ESMA maintains risk levels unchanged, at a high level, as the market environment remains defined by very high uncertainty, continued elevated asset valuations with risk of price corrections, and abrupt shifts in risk premia. Read more
SRB: 2022 work program
The Single Resolution Board (SRB) published its 2022 Annual Work Programme, setting out its objectives and priorities for the year ahead. It is the second year of the Multi-Annual Programme (MAP) for 2021-2023. The SRB is committed to making banks fully resolvable by the end of 2023. Read more
ECB: Monetary developments in the euro area
According to the European Central Bank (ECB), the annual growth rate of the broad monetary aggregate M3 increased to 7.7% in October 2021 from 7.5% in September, averaging 7.7% in the three months up to October. The annual growth rate of short-term deposits other than overnight deposits (M2-M1) was -1.6% in October, compared with -2.5% in September. 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
Towards a globally competitive, purpose-driven European Banking sector
The banking sector has a key role to play in delivering Europe’s digital and sustainable transition. To advance this transformation, and ensure the economy is underpinned by a stable, secure, tech-intensive, and inclusive financial ecosystem, a regulatory reset is needed. The EBF Board, which convened in Brussels and online on November 25th, discussed the key priorities, opportunities, and challenges for the banking sector. Read more
EBF Response to European Banking Authority’s Consultation on amending RTS on SCA and CSC under PSD2 (EBA/CP/2021/32)
The EBF has responded to the European Banking Authority’s Consultation on amending RTS on SCA and CSC under PSD2 (EBA/CP/2021/32). The EBF acknowledges that the issue of 90-days SCA renewal has widely been raised by AISPs as a particularly problematic aspect of PSD2 implementation and the need for the EBA to explore possible solutions. However, as it is important to balance different market views, we are of the view that a mandatory exemption is not appropriate. 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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