EBF MORNING BRIEF Thursday 23 March 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
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 wonât face Credit Suisseâs fate
Europeâs 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 Moodyâs Investors Service. None of the regionâs mega-banks show the âcredit profile weaknesses that led to investor and depositor loss of confidenceâ 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 âno active ongoing negotiationsâ with Indian regulators to help extend the permit. Read more |
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MAIN EVENTS
Thursday 23 March Friday 24 March 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
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
âSeventeen banks participated with 55 projects at this yearâs 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 Financeâs Economic Crime Congress on 30 March, Feedzai will discuss the need for wider responsibility and accountability as well as suggested regulatory changes. Read more |
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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 BoĆĄtjan Jazbec, whose term has come to an end. 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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