| EBF MORNING BRIEF Thursday 23 September 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
Finextra: Money 20/20 EU: Will Europe prevail in the new dawn of payments?
Digital assets and CBDCs dominated day one of Money 20/20 Europe, with speakers also canvassing the changing role of regulation, partnerships, and where to focus to build a better world through financial technology, Finextra reports. Launching into the role of banks in bringing people into the financial services ecosystem through education, Wim Mijs, CEO of the European Banking Federation (EBF), stated that banks have a pivotal role in financial education. Zooming in on the technical hurdles that can hamper financial inclusion, Mijs noted that challenges with outdated infrastructure, lack of access to devices themselves, and reduced internet connectivity in certain markets are underlying concerns. Read more
FT: EU rule change offers insurers €90bn capital boost
Brussels has unveiled a short-term capital boost of up to €90bn for Europe’s insurers which it hopes will be used to increase investment in the region’s economy. The European Commission said its proposals to change the Solvency II regulatory regime would allow EU insurers to beef up their long-term investments, the Financial Times (FT) reports. The proposed changes include lowering the capital requirements associated with equity investments, including when stock markets are falling; and amending the so-called volatility adjustment so that swings in asset prices have a smaller impact on solvency. Read more (€)
Reuters: ECB plans new bank inspections focussing on profits and tech
According to Reuters, the European Central Bank (ECB) is planning new inspections at the banks it supervises to check their technology and their ability to generate profits, the ECB’s top supervisor Andrea Enria said. “Further engagement with banks and supervisory activities are also expected in the area of digitalization, including the launch of pilot inspections”, he added. Read more |
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MAIN EVENTS
Thursday 23 September
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EBF Reporting & Statistics Working Group virtual meeting -
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EBF Cloud Banking Forum
Friday 24 September
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EBF Fiscal Committee virtual meeting -
EBF Sanctions Screening and Instant Payments working group virtual meeting
For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS
FBF: "Integration into banking professions of young people far from employment and refugees" event
On Tuesday, September 21, the French Banking Federation (FBF), the Association Française des Banques (AFB), the Agency for Education through Sport (Apels), and the Each One program co-organized an event on the integration into banking for young athletes and highly qualified refugees. Professional integration is a major issue for French banks, which are developing several actions and in particular partnerships to promote it. Read more (FR)
BdB: Economic forecast by the banks: German economy continues to recover despite uncertainties
Although the risks to economic development in Germany have recently increased, the German economy is recovering noticeably. This is what emerges from the economic forecast of private banks. “The German economy should reach its pre-crisis level by the end of the year. So that the economy does not lose momentum, we need a coalition with the strength to break new ground as soon as possible after the election, ”said Christian Ossig, General Manager of the Association of German Banks (BdB). Read more (DE)
Finance Denmark: Banks are stopping more online banking fraud
As criminals continue to trick personal information and NemID codes out of people for stealing money from their bank accounts, banks are stopping more and more of the criminals' attempts. This is shown by new figures from Finance Denmark. Read more (DK) |
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FROM THE INSTITUTIONS
European Commission: Solvency II Review
The European Commission has adopted a comprehensive review of EU insurance rules (known as “Solvency II”). The Commission state the overall aim is to ensure that insurers and reinsurers in the EU keep investing, and support the political priorities of the EU, with a particular focus on financing the post-Covid recovery, completing the capital markets union, and channeling funds to implement the European green deal. Read more
ECB: Results of the economy-wide climate stress test
The European Central Bank (ECB) conducted its first economy-wide climate stress test this year by analyzing the impact of climate change on more than 4 million firms worldwide and 1,600 euro area banks. Findings show that firms and banks benefit from adopting green policies early on. In this episode of The ECB Podcast, Katie Ranger discusses with ECB Vice-President Luis de Guindos and Irene Heemskerk, Head of ECB climate change center the test's results and their impact on people, companies, and banks. Read more
Executive Vice-President Dombrovskis at the press conference on the review of EU insurance rules
"Europe's insurance companies invest in our economy. They play a dual role: protector and investor. Insurers represent a key source of long-term financing for European businesses", Vice-President Dombrovskis said. In his remarks, he pointed out the objectives of the reform, namely to free up capital to invest in recovery, to strengthen their management of climate risks, and boost consumer protection. Read more |
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FROM THE EBF 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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