EBF MORNING BRIEF          Thursday 23 March 2023

FROM THE MEDIA 

Reuters: ECB looking for signs of stress but banking crisis unlikely

The European Central Bank (ECB) is watching for signs of stress in the banking sector from the ongoing financial turmoil but a full-blown crisis is unlikely for now, the ECB's top brass said. According to Reuters, investors are pondering whether the ECB will be able to continue raising rates to fight inflation given the turmoil in the banking sector. Read more

Bloomberg: European top banks won’t face Credit Suisse’s fate

Europe’s top banks are unlikely to face the kind of downward spiral that forced Credit Suisse Group into the arms of Swiss competitor UBS Group, according to Moody’s Investors Service. None of the region’s mega-banks show the “credit profile weaknesses that led to investor and depositor loss of confidence” in Credit Suisse which built up over almost two years, Bloomberg reports. Read more

FT: EU banks face charges as expiry of Indian clearing house permit nears

The punitive capital charges for EU banks will come into effect when a permit that lets banks use Indian clearing houses to handle their securities and derivatives trades expires at the end of April. Klaus Löber, chair of the clearing counterparty supervisory committee at the European Securities and Markets Authority, told the Financial Times (FT) that there is “no active ongoing negotiations” with Indian regulators to help extend the permit. Read more

MAIN EVENTS
 

Thursday 23 March

• European Council

• Council Working Party on the Environment

• Swedish Presidency of the Council of the European Union ‘Skills for the green transition – for a competitive Europe’ event

• Deutsche Bundesbank ‘Financial intermediation and corporate debt markets’ second workshop

• European University Institute ‘The Environmental Social and Governance (ESG) paradigm and the climate imperative’ conference (Gonzalo Gasos, EBF Senior Director of Prudential Policy & Supervision speaking)

• Forum Europe ‘The 10th European Cyber Security Conference’

• PIIE ‘Floating exchange rates at fifty’ virtual event

• European Environmental Bureau and Climate Action Network Europe ‘How to best balance environmental, social and fiscal sustainability’ online event

• CEPS ‘Public pension systems: changing narratives, changing realities?’ event

• ClimateEurope2 ‘First Climateurope2 Webstival’

• FT ‘Preparing Your Portfolio For The Tax Crunch’ webinar

Friday 24 March

• European Council

• Council Horizontal Working Party on Cyber Issues

• Deutsche Bundesbank ‘Financial intermediation and corporate debt markets’ second workshop

• ABBL 'The challenges of financial education in the 21st century' event (Sébastien de Brouwer, EBF Chief Policy Officer speaking)

• PIIE ‘Floating exchange rates at fifty’ virtual event

• Bruegel ‘The great carbon arbitrage with Alissa M. Kleinnijenhuis’ talks

• ClimateEurope2 ‘First Climateurope2 Webstival’

For a full-year overview of key financial regulation events: click here

FROM EBF MEMBERS

BPFI: Barry Manning appointed Chair of the Irish Payments Council

Barry Manning, Head of Transaction Banking at Danske Bank Ireland, has been appointed Chair of the Irish Payments Council (IPC) for a two-year tenure. Established and facilitated by Banking & Payments Federation Ireland (BPFI), the IPC is the representative and administrative body for the payments industry in Ireland. Read more

ABI: Awards for innovation in banking services

​Seventeen banks participated with 55 projects at this year’s edition of the Italian Banking Association (ABI) "Award for innovation in banking services." The ceremony showcased projects aimed at enhancing innovation related to digital transformation, sustainability, Open Finance, and the introduction of new financial services from Fintech. Read more (IT)
 

UK Finance: Action needed to tackle increased fraud threats

Despite rapid advancement in fraud prevention technology by the financial services sector, criminals continue to adapt their tactics, capitalizing on technology and using social engineering to make their approaches seem more genuine. At UK Finance’s Economic Crime Congress on 30 March, Feedzai will discuss the need for wider responsibility and accountability as well as suggested regulatory changes. Read more 

FROM THE INSTITUTIONS

ECB: Responding to multiple global shocks

Monetary policy must perform a difficult balancing act, says Fabio Panetta, Member of the Executive Board of the European Central Bank (ECB). The ECB needs to remain data-dependent and adaptable in the face of the current economic uncertainty and communicate its reaction function clearly and consistently. Read more Read more

BIS: The path ahead

Christine Lagarde, President of the European Central Bank (ECB), spoke about the ECB's ultimate goal to bring down inflation to the medium-term target in a timely manner, in the current uncertain environment. In the speech published by the Bank for International Settlements (BIS), she pointed out the ECB's future policy path. Read more

SRB: New Board Member, Tuija Taos

The new Single Resolution Board (SRB) Member, Tuija Taoshas started her mandate, with responsibility for resolution planning and decisions. She replaces Board Member Boštjan Jazbec, whose term has come to an end. Read more

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

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

European Banking Federation