EBF MORNING BRIEF Thursday 17 June 2021 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 assessment of banks banned from bonds sales to be done very soon
The European Commission will make an assessment of banks it banned from EU Recovery Fund bond issuance very soon, which could see lenders re-admitted to the process, sources familiar with the situation told Reuters on Wednesday. Read more
Finextra: ECB exec savages banks over climate risk inertia
In a speech given to an ECB-EBRD joint conference, central bank board member Frank Elderson, states: "None of the banks under our supervision meet all our expectations. All banks have several blind spots and may already be exposed to material climate risks", reports Finextra. Read more
Coindesk: BIS launches Innovation Hub with Nordic central banks focusing on CBDCs
The Bank for International Settlements (BIS) has launched a regional innovation hub in Scandinavia with four Nordic central banks focusing on central bank digital currencies, cybersecurity and âgreenâ finance, Writes Coindesk. Read more |
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MAIN EVENTS today and tomorrow
Thursday 17 June:
Connectiva Payments CEE Summit. EBF Chief Policy Officer SĂ©bastien de Brouwer speaking Council Working Party on the United Kingdom EBF Payment Systems Committee online meeting
Friday 18 June:
SRB Workshop on bail-in execution in the US with EBF and Clifford Chance IBF âGlobal AML/CFT Conferenceâ. EBF Chief Policy Officer SĂ©bastien de Brouwer speaking EBF Market Structure Subgroup online meeting EBF Legal Committee Meeting For a full-year overview of key financial regulation events: click here |
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REGISTER NOW!
EBF Digital Thursdays Close-up: A Digital Euro ONLINE / Thursday, 24 June at 13:30 CEST Central banks around the world are investigating Central Bank Digital Currencies as a response to the emergence of private stablecoin projects and to meet the needs of an increasingly digitalized economy. For the debate to go forward, it is important to explore in more detail what a digital euro could look like, what could be its features and how it could be best designed to benefit European businesses and citizens. Join our high-level speakers on June 24 for the âDigital Thursdays Close-up: A Digital Euroâ online event. Register HERE |
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FROM THE EBF MEMBERS
CBA: Commentary on the development of the mortgage market in May 2021
The volume of mortgage loans sold in May was CZK 40.5 billion. This is the second month this year when sales have exceeded 40 billion crowns. However, sales are still out of the ordinary "business" and the average interest rate rose by 0.08 percentage point to 2.06%. According to the Czech Banking Association (CBA), The market is not slowing down yet. The hunger for real estate, which is driving up prices and thus mortgage volumes, continues. It will be slowed down by further increases in interest rates, summer holidays, and a return to normal shopping and consumption. Read more (CZ)
FBF: Guillaume Curnier becomes Chairman of FBF Hauts-de-France Regional Banking Committee
Guillaume Curnier has been appointed President of the French Banking Federation (FBF) Hauts-de-France regional banking committee for a two-year term. The Committee brings together the member banks established in its 5 departments. 'We will support our customers in overcoming this difficult period. The crisis has confirmed the essential role of banks in society and showed how important the banking profession is to clients', Guillaume Curnier says. Read more (FR)
FFI: Victims of identity theft can now find help online in Finland
The Digital and Population Data Services Agency of Finland has published a website for victims of data breaches and identity theft. The website provides victims with advice and helps them with services such as credit bans. âFor the victim of identity theft, the only practical protection against fraud is to order a credit ban on yourself. Itâs a drastic measure that shouldnât be taken lightly, but it is a sensible decision to make if there is reason to suspect your identity has been stolenâ, Niko Saxholm, Head of security and loss prevention at Finance Finland (FFI) said. Read more |
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FROM THE INSTITUTIONS
ECB: Cash still king in times of COVID-19
Faster digitalization does not mean the end of cash, says European Central Bank (ECB)'s Executive Board member Fabio Panetta. Cash continues to play a crucial role in the euro area, and though its use as a means of payment has declined during the pandemic, demand for cash has risen. For this reason, the ECB will guarantee that cash continues to be available and accepted in the future, even if we launch a digital euro. Read more
ESMA: 2020 Annual Report
The European Securities and Markets Authority (ESMA), has published its Annual Report. The Report provides an overview of the work carried out by ESMA in 2020, following the entry into force of the revised ESMA Regulation and the amendments to the European Market Infrastructure Regulation (EMIR 2.2), updating ESMA's governance and introducing new mandates for the organization, which are shifting ESMA's focus towards supervisory convergence. Read more
EIOPA: first quarterly set of Occupational Pensions Statistics
The European Insurance and Occupational Pensions Authority (EIOPA) published its first set of quarterly comprehensive statistical information on the European occupational pensions sector. The data is based on pension data regulatory reporting. The statistics contain up-to-date and high-quality data and provides a comprehensive picture of the European occupational pensions sector, including country breakdowns that allow for comparability. Read more |
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FROM THE EUROPEAN BANKING FEDERATION
EBA feasibility study of an integrated reporting system under Article 430c CRR: Industry Joint Communication
The European Banking Federation (EBF), the European Association of Co-operative Banks (EACB), the European Association of Public Banks (EAPB), and the European Savings and Retail Banking Group (ESBG), representing the entirety of the European banking industry, have individually submitted responses to the EBA consultation on the feasibility of an integrated reporting system for regulatory reporting. The banking industry has been calling for the creation of an integrated and standardized framework for data reporting to improve the quality of data while reducing the reporting burden for the industry without reducing the information content for authorities. Read more
European Commissionâs proposal of a Digital Markets Act:
EBF Key messages
Europe needs more competition to unlock all the opportunities that digital markets can bring. These opportunities increasingly depend on timely access to relevant digital infrastructure, consumer gateways, data, and markets. The EBF, therefore, welcomes the ex-ante regulatory approach and general principles underpinning the European Commissionâs (EC) proposal for a Digital Markets Act (DMA) towards large online platforms acting as gatekeepers. However, more work needed to strengthen the provisions. Read more
EU-U.S. Summit: A critical milestone for the global agenda:
Joint Industry Statement
The European Banking Federation along with other business associations sees the upcoming EU-US summit as a critical milestone for the global agenda. The Summit represents an opportunity for these strategic partners to map out a proactive agenda focused on reducing barriers to trade; ensuring both sides of the Atlantic come out of the pandemic with stronger, more resilient economies; and seeking new areas for convergence and leadership as we transition towards a greener, digitalized international economy. 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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