| EBF MORNING BRIEF Thursday 14 July 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
Reuters: EU edges closer to ending 'too-big-to-fail' banks by 2024
The Single Resolution Board (SRB) said it would ratchet up pressure on lenders over the coming months to bolster their defenses so that none remain "too big to fail" by January 2024. As reported by Reuters, while most banks have met their target for issuing the special debt known as MREL, the SRB said some lenders still need to improve other elements which ensure smooth "resolution" or winding down if they go under. Read more Bloomberg: Euro declines in focus for ECB as inflation risk The European Central Bank (ECB) is watching the euro’s drop because of its effect on consumer prices, according to the Bank of France Governor Francois Villeroy de Galhau. So far, the ECB has resisted the aggressive policy tightening deployed by central banks across the world, signaling it will raise rates by a quarter-point this month. Villeroy suggested recent moves in foreign-exchange markets aren’t necessarily focused on the euro’s fundamentals, Bloomberg reports. Read more Finextra: Banque de France steps up wholesale CBDC work According to Finextra, the Banque de France is accelerating its wholesale CBDC program as it bids to be ready to bring in central bank money as a settlement asset as early as 2023. "We want to get closer to a viable prototype, testing it in practice with more private actors and more foreign central banks in the second half of 2022 and in 2023," says François Villeroy de Galhau, governor of the Banque de France. Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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The latest EBF Cloud Banking Forum’s paper is out! |
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 | European banks created the EBF Cloud Banking Forum to promote cooperation with Cloud Service Providers (CSPs) on cloud auditing in the European financial service sector. The latest paper is now out and offers a comprehensive overview of Cloud auditing in banking and presents the best practices for the pooled audit exercise. Read more |
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FROM THE EBF MEMBERS
BdB: Why the Green Asset Ratio is misleading
According to the EU, the Green Asset Ratio (GAR) should become the measure of all things for banks. In reality, the GAR does not live up to this goal, the Association of German Banks (BdB) reports. On the one hand, the GAR is well-intentioned, but not well implemented. For the banks, this is primarily a communication problem in the short term, which is likely to raise a number of questions from the public and investors. Read more (DE)
ABI: Financial education favors sustainability
A widespread financial culture helps make more conscious and sustainable economic choices. It is starting from this assumption that banks, through financial education initiatives, strengthen their commitment to sustainability and inclusion. Sustainability takes on an increasingly important role in the strategies of banks and is at the center of the 'ESG in banking' event by the Italian Banking Association (ABI). Read more (IT)
FBF: The FBF present at the REAix 2022
As part of the 22nd Economic Meetings, Maya Atig, Managing Director of the French Banking Federation (FBF), participated in the debate "Defining an inclusive and sustainable economic trajector". The exchanges highlighted the desire to act collectively for an inclusive and sustainable transition; the need to be more specific about the actions to be taken, their distribution, and their financing, based on credible scenarios. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: Key objectives of the digital euro
"It is our responsibility to preserve the integrity of the monetary and payment systems," writes European Central Bank (ECB) President Christine Lagarde and Executive Board member Fabio Panetta. A digital euro could play a decisive role in this endeavor. Read more
BIS and IOSCO back 'same risk, same regulation' for stablecoins
The Bank for International Settlements (BIS) and the International Organization of Securities Commissions (IOSCO) published final guidance on stablecoin arrangements confirming the application of Principles for Financial Market Infrastructures. Both organizations support the principle of “same risk, same regulation” to stablecoins, as well as the extension the international standards for payment, clearing, and settlement systems to cover systemically important stablecoin arrangements. Read more
SRB: Elke König speech at the ECON Committee
Elke König, Chair of the Single Resolution Board (SRB) presented the SRB Annual Report at the ECON Committee, with a focus on some past resolution cases, the resolvability assessment 2021 and the outcome of last month’s Eurogroup. In addition, she also shared her expectations for the next steps. 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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