EBF MORNING BRIEF Thursday 11 May 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: Brussels backtracks on financial advice inducement ban Brussels will limit the ban on inducement payments to so-called “execution-only” sales of investment products where no financial advice is delivered, according to a leaked draft of the EU’s retail investment strategy seen by the Financial Times (FT). “A full ban on inducements would entail significant and sudden impacts on existing distribution systems, with consequences that are hard to predict,” said the commission. Read more
Risk.net: Banks dispute EBA’s new threshold for IRRBB test
As reported by Risk.net, regulators have proposed doubling a threshold used for identifying which banks have loan and deposit books that are most at risk from changes in interest rates. According to banks, the new proposal is still too severe. Read more
Reuters: EU plans 'value for money' rules for investment products
Banks, insurers and asset managers in the European Union would only be allowed to sell funds and other products across the bloc if they could prove to regulators they offer value for money, draft proposals seen by Reuters show. Read more |
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MAIN EVENTS Thursday 11 May Friday 12 May For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
AEB: Savings initiatives for young people
The first year of operation of 'Aula Financiera y Digital', the training platform promoted by the Spanish Banking Association (AEB) shows that initiatives related to savings and aimed at young people arouse the greatest interest in visits to the website. Read more (ES)
Finance Denmark: "Fyr dit fyr" scheme is open
As reported by Finance Denmark, the government and the banks are now making it possible for homeowners who want to replace their oil and gas boiler with a greener alternative to avoid both the land registration tax and the registration fee. Read more (DK)
UK Finance: Seven million chances to see King Charles
Following the King’s coronation, UK Finance reveals that there are nearly seven million 50p pieces in circulation featuring the King’s image. However, it may be longer before you see a King Charles bank note, thanks to environmental considerations. Read more |
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FROM THE INSTITUTIONS
ECB: Bringing inflation back to target
'We are determined to tame inflation and bring it back to our 2% medium-term target in a timely manner,' European Central Bank (ECB) President Christine Lagarde says. The ECB has already taken sizeable policy action, but there is still more ground to cover. Read more
ESMA: Annual IFRS amendment of the ESEF postponed to 2024
The European Securities and Markets Authority (ESMA) has decided to postpone to 2024 the amendment of the European Single Electronic Format (ESEF) Regulatory Technical Standard (RTS). This decision is in part due to the limited changes in the 2023 update to the International Financial Reporting Standards (IFRS) Taxonomy. Read more
EC: EIF and UniCredit sign agreements to finance investments by SMEs
The European Investment Fund (EIF) provides UniCredit Group with two guarantees to boost investments carried out by small and medium-sized businesses (SMEs) across seven EU countries, the European Commission (EC) reports. 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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