EBF MORNING BRIEF Thursday 12 January 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
PYMNTS: EU banks to restructure without sacrificing service quality
To curb losses and adapt to a difficult consumer credit environment, some European banks have opted to restructure. According to PYMNTS, while there is a strong business case for pooling resources and streamlining overly complex structures, the challenge for banks is to do so in a way that doesn’t sacrifice service quality. Read more
Reuters: ECB needs several more significant rate hikes, Rehn says
The European Central Bank (ECB) must still raise interest rates "significantly" over its coming meetings to restrict growth and dampen inflation, which has been far too high, Finnish central bank chief Olli Rehn said. The eurozone is expected to suffer a recession but the economy appears more resilient than feared and the downturn may be shorter and shallower than forecast, Reuters writes. Read more
Finextra: ESMA advises DTI codes for digital asset regulatory reporting
ISO-standard DTI codes, issued by the DTI Foundation, have been recommended by ESMA for use under its Distributed Ledger Technology (DLT) Pilot regulatory regime. As reported by Finextra, ESMA’s DLT Pilot will start applying on 23rd March 2023. Read more |
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MAIN EVENTS
Thursday 12 January
Friday 13 January For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS BdB: German banks are stable Henriette Peucker, Deputy Chief Executive of the Association of German Banks (BdB) on the current situation, outlook, and regulation. 'Banks are prepared for the looming slowdown in the economic environment. They are well capitalized, regularly adjust their risk provisions, and have taken an appropriately pessimistic perspective on 2023,' she says. Read more (DE)
Finance Finland: Banks can steer society in a sustainable direction
The final report of the working group on financing the green transition presents the key objectives to develop green transition investments and financing and offers solutions. Finance Finland was represented in the working group by Adviser Jussi Kettunen, who finds the report’s conclusions justified. Read more
Finance Norway: Clarification about management costs for pensions
It has been common practice that when funds in the collective portfolio are invested in different types of funds, management fees for the manager are deducted from the return. The Ministry of Finance came up with a very important clarification and gave Finance Norway support that the practice is in line with the legislation. Read more (NO) |
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FROM THE INSTITUTIONS ECB: Households and non-financial corporations in the euro area According to a European Central Bank (ECB) statistical release, households' financial investment increased at a slightly lower annual rate of 2.6% in the third quarter of 2022, after 2.7% in the second quarter. Read more
EBA: Peer review on an authorization under the PSD2
The European Banking Authority (EBA) published its peer review on the authorization of payment institutions and e-money institutions under the revised Payment Services Directive (PSD2). The review generally found increased transparency and consistency of the information required in the authorization process. Read more
BIS: Inflation targeting in a world of large and persistent shocks
In a speech published by the Bank for International Settlements (BIS), Andriy Pyshnyy, Governor of the National Bank of Ukraine, discusses challenges that central banks around the globe are or will be facing as they pursue their core mandates by ensuring price stability for sustainable economic development. 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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