EBF MORNING BRIEF Thursday 1 December 2022 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: BoE backs strict adoption of global bank capital rules The Bank of England (BoE) has proposed a faithful adoption of the latest global bank capital rules for the UK’s biggest lenders, disappointing banks that were hoping for a lighter touch as put forward by the EU. The latest update aims to make capital levels more consistent across banks by restricting the use of modeling and other techniques that can flatter capital calculations or reduce capital demands, the Financial Times (FT) reports. Read more
Bloomberg: ESG is taking over the loan market
Bankers expect at least half of the loan deals for investment-grade firms in Europe, the Middle East, and Africa to be tied to environmental, social, and governance (ESG) targets in 2023, based on interviews conducted by Bloomberg. Firms are putting greater emphasis on this amid a push from regulators to force banks to pay closer attention to ESG. Read more
CNBC: ECB says bitcoin is on the ‘road to irrelevance’
In a blog, European Central Bank (ECB) Director General Ulrich Bindseil and analyst Jürgen Schaff said that bitcoin’s recent price stabilization is likely an “artificially induced last gasp before the road to irrelevance.” As pointed out by CNBC, the remarks are timely, with the crypto industry reeling from the downfall of FTX. Read more |
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MAIN EVENTS Thursday 1 December Friday 2 December
For a full-year overview of key financial regulation events: click here
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 | Late October, the Commission adopted a legislative proposal that seeks to bring instant payments towards the ‘new normal’. Last week, we brought together key experts and policymakers to discuss what it would mean for banks and how it will impact the potential for building pan-European solutions based on instant payments. Watch the exclusive discussion
that took place at EBF Digital Thursdays! |
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FROM EBF MEMBERS BdB: Uncertainty in the German economy persists In view of the ongoing burdens from price increases, recession worries, supply, and raw material bottlenecks, and labor shortages, the outlook for the German economy remains shrouded in dark clouds. Individual data do brighten the outlook for the coming year a little, the Association for German banks (BdB) reports. Read more (DE)
ABI: The future of payments
At the seventh edition of the most important Italian event on innovation and payments organized by the Italian Banking Association (ABI), President Patuelli opened the plenary session. Among the themes at the center of this edition, there are the future of payments and the evolution of services due to innovation in digital payments. Read more (IT) AEB: Agreement on a 4.5% salary increase in 2023 The Spanish Banking Association (AEB) and the CCOO and UGT unions have agreed on a salary improvement that will be applied from 2023. The decided salary increase is a recognition of the effort and personal commitment of the workers of the banking sector in this exceptional context. Read more (ES) |
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FROM THE INSTITUTIONS ECB: Bitcoin’s last stand The apparent stabilization of bitcoin’s value is likely to be an artificially induced last gasp before the crypto-asset embarks on a road to irrelevance. The latest blog by the European Central Bank (ECB) looks at where bitcoin stands amid widespread fallout in the crypto markets. Read more
ESMA: Updated guidelines on stress tests for money market funds
The European Securities and Markets Authority (ESMA) is publishing the Final Report on the 2022 update of guidelines on MMF stress tests under the Money Market Funds Regulation (MMFR). Read more
BIS: OTC derivatives statistics at end-June 2022
The gross market value of outstanding OTC derivatives rose noticeably in the first half of 2022, to $18.3 trillion, led by increases in interest rate derivatives. The value of some commodity derivatives surged against the background of rising food and energy prices, the Bank for International Settlements (BIS) writes. Read more |
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FROM THE EBF
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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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