EBF MORNING BRIEF Thursday 22 June 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
CoinDesk: Digital Euro: Bill is ready but politicians arenât convinced
A plan to legislate for a Digital Euro may still be on track for publication, but there is significant political skepticism about the purpose. New laws will propose a raft of answers to questions on privacy, offline use, and distribution, as reported by CoinDesk. Read more Bloomberg: ECBâs Kazimir says core inflation must be tamed for pause The European Central Bank can only pause interest rate hikes at its September meeting if itâs certain that core inflation is under control, Governing Council member Peter Kazimir said. If the pace of underlying price increases persists, then there will be further monetary tightening, he told Bloomberg journalists. Read more
S&P Global Market Intelligence: Eurozone banks face profit, liquidity drag as âŹ500B of COVID-era debt comes due
Eurozone banks are set for a squeeze on profits and liquidity as they prepare to repay almost âŹ500 billion of cheap funding borrowed from the European Central Bank (ECB). The scale of the repayment is expected to spark greater competition among banks for deposits to replace some of the lost liquidity, S&P Global Market Intelligence reports. Read more |
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MAIN EVENTS
Thursday 22 June
Council Trade Policy Committee (Deputies) ECB General Council meeting
Friday 23 June Council Horizontal Working Party on Cyber Issues For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
AEB: Agreement between the banking sector and Correos Cash
The Spanish Banking Association (AEB) signed a collaboration agreement with Correos in July 2022 to facilitate the withdrawal of cash and improve access to basic financial services in rural areas throughout Spain. The Roadmap to strengthen financial inclusion in rural areas reflects the will of banking associations to contribute to accelerating progress toward full financial inclusion. Read more (ES)
Finance Finland: Government program with responsible proposals
A sustainable welfare state is built on responsible economic management and a tax policy that encourages work, entrepreneurship, and domestic ownership. "We are glad that the upcoming government is planning to launch a financial sector growth strategy that also involves the comprehensive assessment of financial market regulation," says Finance Finlandâs CEO Arno Ahosniemi. Read more
ABI: Giovanni Sabatini on ESG
There is a huge regulatory production at the EU level, but Environmental, Social, and Governance (ESG) rules are still unclear and there is an excessive burden for companies and banks, according to Giovanni Sabatini, Director General of the Italian Banking Association (ABI) in an article by Il Sole 24 Ore. Read more (IT) |
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COMING NEXT WEEK How do European banks prepare for their ESG reporting in line with Pillar 3 and Green Asset Ratio? |
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| | Climate change continues to take center stage on the European regulatory agenda. In this webinar, we will discuss how these regulations impact European banks and their clients and what are the challenges. Join our panelists as they discuss: What are the Pillar 3 disclosure requirements and the Green Asset Ratio? How are Pillar 3 and Green Asset Ratio reporting impacting banks and how are they preparing? How do international initiatives like the Net-Zero Banking Alliance and existing legislation (e.g., CSRD, SFDR) interact and how does this impact banksâ reporting? How is ESG likely to evolve, what challenges lie ahead, and how can they be overcome? |
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FROM THE INSTITUTIONS
ECB: The international role of the euro
Despite multiple new shocks, the international role of the euro remained resilient in 2022. The euro remained the second most important currency globally, and there have been no major changes in the use of international currencies since the outbreak of war in Ukraine, the European Central Bank (ECB) writes. Read more
BIS: Research on international finance and macroeconomics
Luis de Guindos, Vice-President of the European Central Bank (ECB) awarded the GermĂĄn BernĂĄcer Prize for outstanding contributions in the fields of macroeconomics and finance to a young European economist, Matteo Maggiori. As reported by the Bank for International Settlements (BIS), Matteo's research sheds light on international macroeconomics and the role of imperfect financial markets. Read more
EC: DSA: Consultation on transparent database for content moderation
As part of the Digital Services Act (DSA), the European Commission (EC) launched a public consultation on the transparency database. Once the database is established, platforms will be invited to submit their declaration, allowing for near real-time updates. 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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