EBF MORNING BRIEF Thursday 20 July 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: ECB to push banks for weekly liquidity data
The European Central Bank (ECB) plans to substantially tighten how it monitors liquidity. The ECB proposes to ask lenders to report data on their liquidity reserves on a weekly basis, breaking out funding by maturity and type of client, people familiar with the matter said to Bloomberg. Regulators are also looking into the degree to which they can cap lenders’ reliance on certain sources of funding that are deemed volatile. Read more
S&P Global Market Intelligence: European banks' capital offerings rebound to best H1 since 2020
Capital offerings by banks in Europe recovered to their highest half-year level since the height of the COVID-19 pandemic even amid significant market turmoil in March. About €225 billion of funding was raised between January and June, an overwhelming majority of which was debt issuance, according to S&P Global Market Intelligence data. Read more
Finextra: Fintechs demand end to hidden bank fees in global payments
According to Finextra, fifteen of London's biggest fintech companies have come together to demand an urgent review of legislation regarding hidden bank fees for international payments. In an open letter to Chancellor Jeremy Hunt, they claim that consumers and SMEs in the UK lost a total of £5.6 billion in 2022, and current ambiguous legislation allows major providers to keep earning profits through these hidden fees. Read more |
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MAIN EVENTS
Thursday 20 July
Council Working Party on Tax Questions (Indirect Taxation) Friday 21 July
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
Finance Latvia: Declaration to stifle investment and business activity
The current government's declaration promises to ensure a "predictable tax policy", while implementing a policy that "promotes the competitiveness and digital development of the financial sector, supporting the growth of the national economy" in the financial market. These are necessary steps for increasing Latvia's competitiveness, says Sanita Bajare, Chairman of the Board at Finance Latvia. Read more (LAT)
VÖB: Regulation of Banks and Financial Markets in Europe
Banking and financial market regulation have brought numerous abbreviations and terms. The English edition of the Glossary on Financial Market Regulation in Europe by the Association of German Public Banks (VÖB) takes up the most important terms. Read more
AEB: 60,000 students receive financial education from bank employees
More than 60,000 high school students have received financial education through the 'Your Finances, your Future' program by the Spanish Banking Association (AEB). Alejandra Kindelán, AEB President, highlighted the commitment of the banking sector to bring financial education to young people to help them make informed financial decisions. Read more (ES) |
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FROM THE INSTITUTIONS
EBA: Final guidance on the recovery capacity in recovery planning
The European Banking Authority (EBA) published its final Guidelines on the overall recovery capacity (ORC) in recovery planning. The Guidelines establish a consistent framework for the determination of the ORC by institutions and the respective assessment by competent authorities and aim at strengthening institutions’ effective crisis preparedness. Read more
ECB: Unobserved components model: output gaps and financial cycles
Policymakers should consider the stage of the financial cycle when designing monetary policy decisions. If financial variables are omitted from the estimations of the output gap, important financial or external imbalances that may lead to future recessions may not be captured. A paper by the European Central Bank (ECB) presents a suite of estimates of output gaps incorporating financial variables. Read more
ESMA: Analysis of the cross-border investment activity of firms
The European Securities and Markets Authority (ESMA) and national competent authorities (NCAs) completed an analysis of the cross-border provision of investment services during 2022. The data allows ESMA and NCAs to shed light on various aspects of the market for retail investors that receive investment services by credit institutions and investment firms established in other Member States. 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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