FROM THE MEDIA

France Inter: Barnier says he is "worried" about Brexit negotiations

The EU's chief Brexit negotiator Michel Barnier said on Monday that the United Kingdom wants "the best of two worlds" in the divorce deal, adding that the negotiations were difficult. "I remain worried.... the negotiations are difficult because the British want the best of two worlds," Barnier told France Inter radio, Reuters reported. The British government’s chief Brexit negotiator David Frost has said that his government is unafraid to walk away from the talks if the regional bloc does not compromise on major issues, including fisheries and state aid rules. “This time, we won’t blink,” Frost told the Mail newspaper on Sunday. France Inter Reuters Xinhua FT (€) BBC

WSJ: Spanish Deal Talks Raise Prospect of European Banking Consolidation

European banking consolidation is back on the agenda, writes the Wall Street Journal. Spanish banks Caixabank SA and Bankia SA said they are exploring a merger to create the country’s largest domestic lender, raising the often-debated prospect of consolidation in Europe’s banking system as countries brace for further fallout from the coronavirus pandemic. Read more (€)

FROM THE EBF MEMBERS
 

Bankenverband: Fight against cybercrime requires more global cooperation

The threat of cyber attacks is constantly increasing. In an article published by Fritz Knapp publishing house, Andreas Krautscheid, Chief Executive, Member of the Board of Directors of the Association of German Banks describes why more global cooperation is needed in the fight against cybercrime. Read more (DE)

FBF: Banks mobilized for economic recovery

From the very beginning of the health crisis, banks have been committed to supporting the French economy through the implementation of strong and concrete measures. The State-guaranteed loan (PGE) was thus rapidly and massively deployed: more than 570,000 companies have benefited to date, for a total of nearly €120 billion. This commitment supporting companies and professionals to get through the crisis will naturally continue in this new phase devoted to economic recovery according to the latest press release of the French Banking Association (FBF). Read more (FR)

NVB: Corporate financing by banks in corona time rises to 23.7 billion euros

Since the outbreak of the corona crisis in March, banks in the Netherlands have given more than 161,000 entrepreneurs more financial breathing space in addition to the government's support package. The postponement of repayments and the granting of loans or more credit facilities to companies now involves a total of 23.7 billion euros (22 billion four weeks ago). This is apparent from the overview published by the Dutch Banking Association (NVB). Read more (NL)

BANKING ESSENTIALS WEBINAR

Sustainability & Going Green:

How will Banks adapt to this new world?

Tuesday 15 September

As regulatory pressure mounts it is imperative that banks have a clear plan to address climate risks and to finance a green agenda. Join our experts as they discuss how banks can achieve a successful climate management strategy. Register HERE

FROM THE INSTITUTIONS

ECB: Fifth ECB Annual Research Conference

The ECB Annual Research Conference is the ECB’s flagship research event. This year, the conference was virtual and took place on 3 and 4 September. It featured keynote lectures, on financial and monetary economics, as well as paper presentations from different fields of economics relevant for a central bank. Watch again the highlights HERE

ESMA confirms securitisation framework entry into force on 23 September 

BIS: Closing the loop: AML/CFT supervision of correspondent banking

Under the auspice of the Financial Stability Board's four point action plan, several international organisations have taken measures to address the decline in correspondent banking relationships, including further examining the dimensions of the decline and implications for financial inclusion and financial stability; clarifying regulatory expectations; supporting domestic capacity-building in jurisdictions that are home to affected respondent banks, and strengthening tools for due diligence by correspondent banks. Read more

European Commission weekly schedule

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

FROM THE EUROPEAN BANKING FEDERATION

Banks underline need for smooth implementation of SRD II

With only a few days to go before the European Union’s second Shareholder Rights Directive becomes applicable the European Banking Federation calls on the European Commission and EU regulators to ensure a smooth and gradual implementation of the new rules designed to deepen corporate governance in the EU’s capital markets. The EBF asks EU regulators and supervisors to consider three critical aspects during the implementation. Read more

Joint ESAs consultation on Sustainable Finance disclosures – EBF response

The EBF has responded to the joint consultation of the European Supervisory Authorities (ESAs) setting out the proposed Regulatory Technical Standards (RTS) on content, methodologies and presentation of disclosures under the Sustainable Finance Disclosure Regulation, known as SFDR. Read more
 

Guidelines on Outsourcing to Cloud Service Providers – EBF response

The EBF has responded to the European Securities and Markets Authority (ESMA) consultation on Guidelines on Outsourcing to Cloud Service Providers and has called for a strong alignment of the ESMA guidelines with the existing guidelines of the European Banking Authority (EBA) in order to prevent a disproportionate burden for financial institutions covered by both regimes.
Read more

ABOUT THE EUROPEAN BANKING FEDERATION
 

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations. The EBF 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.

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European Banking Federation