EBF MORNING BRIEF Monday 23 October 2023 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: Digital euro: more than a token impact on banking profits
After two years of studying how a digital euro would work, the European Central Bank (ECB) is planning its implementation. While the ECB maintains that current bank financial models will be little changed, banks could see profit decline by up to 20 percent, according to one analysis seen by the Financial Times (FT). Read more
Bloomberg: ECB mulls higher reserves for Deutsche Bank, ING
Some European Central Bank (ECB) Governing Council members want to force banks to hold more money at the institution, which could entail a revenue loss for lenders of €66 billion in the most extreme scenario, according to Bloomberg's calculations. Deutsche Bank and ING would be among the lenders facing the biggest profit hits from the decision. Read more
CoinDesk: Crypto shareholder requirements set out by EU regulators
EU watchdogs issued consultations on a range of issues set to be regulated by the bloc's landmark new crypto law, MiCA. As reported by CoinDesk, the proposals cover curbs on ownership, governance, and bonuses for crypto companies and their staff. Read more |
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FROM EBF MEMBERS
Finance Finland: The Financial Academy’s hackathon on financial sector corporate responsibility attracted over 60 students
The Financial Academy organized a hackathon with a corporate responsibility theme for financial sector students that attracted more than 60 students. The participating students were divided into small teams, which were each assigned a responsibility challenge they proposed solutions to, Finance Finland explains. Read more
Febelfin: Fraud targeting businesses and self-employed people
Companies and self-employed people are increasingly the target of enhanced security account fraud, a sophisticated form of fraud in which scammers pose as bank employees to steal money in professional accounts. Febelfin shares tips to stay safe. Read more (FR)
BPFI: Housing Survey 2023
About one in three people currently renting expect to buy a home in the next five years, according to a new housing survey by Banking & Payments Federation Ireland (BPFI). Besides, data shows that 70% of owner-occupiers have been living at their current address for more than ten years, and 72% of owner-occupiers have no plans to move. Read more |
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FROM THE INSTITUTIONS
ECB: The art and science of good supervision
"Non-banks’ market share is rising," says European Central Bank (ECB) Supervisory Board member Elizabeth McCaul. Risk linked to leverage, counterparty credit and liquidity mismatches all deserve our attention. Common exposures, e.g. to commercial real estate, can pose a systemic risk. Read more
EBA: Draft technical standards on governance arrangements of the remuneration policy under the Markets in Crypto-Assets Regulation
The European Banking Authority (EBA) launched a public consultation on its draft Regulatory Technical Standards (RTS) on the minimum content of the governance arrangements on the remuneration policy under the Market in crypto-assets Regulation (MiCAR). Read more
EBA and ESMA consult on two sets of joint guidelines under MiCA
The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) published a Consultation Paper on two draft Joint Guidelines covering the suitability assessment of members of the management body, and the suitability of shareholders and members with qualifying holdings of issuers of asset referenced tokens (ARTs) and of crypto-asset service provider (CASPs). Read more |
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FROM THE EBF
EBF encourages wider debate on a digital euro and close public-private collaboration as the project moves to its next phase
The European Banking Federation (EBF) commented on the European Central Bank’s decision to move from the investigation phase of a retail digital euro to its preparation phase. As outlined by the ECB, this is initially expected to last two years and can pave the way for a decision to issue a digital euro. Read more New 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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This newsletter is published by the EBF Mediacentre.
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