EBF MORNING BRIEF Thursday 1 June 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
Bloomberg: European banks should be prudent on payouts
European banks should avoid paying out too much excess capital to shareholders after turmoil in other jurisdictions clouded the outlook for the industry, European Central Bank (ECB) Vice President Luis de Guindos said in an interview with Bloomberg. Read more
Reuters: Greater transparency for default swaps on eight EU banks
The European Commission will propose greater transparency in the trading of credit default swaps of eight top banks to mirror rules in US markets, an EU document seen by Reuters showed. Read more
Finextra: Use of data and collaboration to fight money laundering
Using payments data, privacy-enhancing technologies, AI and enhanced cooperation for a behavioral-based analysis approach to detecting money laundering networks is more effective than the current rules-based approach, concludes new research from the BIS Innovation Hub. As reported by Finextra, different approaches to collaborative analysis, including centralized, decentralized, and hybrid models, were considered at both national and cross-border levels. Read more |
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MAIN EVENTS Thursday 1 June Council Working Party on Tax Questions (High Level) Friday 2 June Council Horizontal Working Party on Cyber Issues For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
Finance Finland: Handelsbanken sells parts of its Finnish operations to S-Bank, Oma Savings Bank and Fennia As Finance Finland reports, Handelsbanken has reached an agreement with S-Bank, Oma Savings Bank, and Fennia Life Insurance Company regarding the transfer of parts of its operations in Finland. The companyâs Finnish operations will continue as usual for the time being, and the transaction does not require its customers to take any action. Read more BdB: More capital for more environmental protection? The EU taxonomy should provide clarity on four other environmental targets, according to the Association of German Banks (BdB). A better understanding will facilitate its implementation and assist companies with their reporting obligations. Read more(DE)
UK Finance: Fighting fraud
As 41 percent of crimes in England and Wales are fraud-related, Diane Doodnath, Principal of Economic Crime at UK Finance, revealed that 70 percent of this fraud is enabled online via social media. With the rising threat of fraud emerging from diverse sectors, the House of Lords and Digital Fraud Committee's report emphasizes the need for legislative reform and outlines some recommendations to combat the growing threat. Read more |
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FROM THE INSTITUTIONS ECB: Climate change and sovereign risk Climate change can have a negative effect on sovereign balance sheets directly and indirectly. A special feature published by the European Central Bank (ECB) highlights the contingent sovereign risks that stem from an untimely or disorderly transition to a net-zero economy and from more frequent and severe natural catastrophes. Read more
EBA: Guidelines on money laundering and terrorist financing risk factors to include crypto-asset service provider
The European Banking Authority (EBA) launched a public consultation on amendments to its Guidelines on money laundering and terrorist financing (ML/TF) risk factors. The proposed changes extend the scope of these Guidelines to crypto-asset service providers (CASPs). The consultation runs until 31 August 2023. Read more ESMA: Fifth Stress Test Exercise for Central Counterparties The European Securities and Markets Authority (ESMA) launched its fifth Stress Test Exercise for Central Counterparties (CCPs) under the European Markets Infrastructure Regulation (EMIR). The CCP Stress Test framework is complemented by an adverse market scenario provided by the European Systemic Risk Board (ESRB). Read more |
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FROM THE EBF
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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