EBF MORNING BRIEF Thursday 25 May 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
FT: EU sticks with post-Brexit clearing trade deadline
Brussels has rebuffed industry calls to rethink its plan for grabbing lucrative clearing business from the City of London, saying it needs to proceed to ensure robust markets in Europe. As reported by the Financial Times (FT), Mairead McGuinness defended the EU strategy saying this proposal was vital to the bloc’s “financial resilience”. Read more
Bloomberg: EU banks are said to sail through early round of stress test
Many European banks are emerging from early rounds of a key stress test in robust financial health. According to Bloomberg, this is prompting some regulators to question whether to push harder at a time when investors are focused on the industry’s resilience. Read more
Reuters: Digital euro could be launched in three to four years
A digital euro could be launched in three or four years but banknotes will be available as long as there is demand for them, Fabio Panetta, a member of the European Central Bank (ECB)'s Executive Board says. To make the digital euro interoperable with other central bank digital currencies, the ECB was working closely with the central banks of the U.S., Britain, Switzerland, Canada, Japan, and Sweden, Reuters writes. Read more |
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MAIN EVENTS Thursday 25 May Friday 26 May 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: Mortgage Market Profile Report
The latest Mortgage Market Profile Report published by Banking & Payments Federation Ireland (BPFI) shows that while increasing mortgage drawdown values reflect the sharp post covid rise in property prices, the rise in median mortgage values between 2020 and 2022 was significantly less than that of median property prices. Read more
Finance Latvia: The activity of fraudsters is consistently high
Fraudsters cheated a total of 609 thousand euros from Latvian residents, according to the data compiled by Finance Latvia. Currently, significantly more cases of fraud are related to various investment offers, including fake news about loans. Read more
VÖB: Retail Investment Strategy
"It is an important signal for German banks and savings banks that the EU Commission has abandoned its original intention of proposing a complete ban on commissions," said Daniel Quinten. But many requirements remain vague, the Association of German Public Banks (VÖB) writes. Read more (DE) |
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FROM THE INSTITUTIONS
EC: Retail investment package
The European Commission (EC) adopted a retail investment package that places the consumers’ interests at the center of retail investing. The aim is to empower retail investors to make investment decisions that are aligned with their needs and preferences, ensuring that they are treated fairly and duly protected. Read more
ECB: Looking into a digital euro
To safeguard financial stability, we need to keep central bank money at the heart of the financial system, European Central Bank (ECB) Executive Board member Fabio Panetta says. And a digital euro would be a risk-free means of payment that Europeans can use anywhere in the euro area. Read more
EBA: Corrigendum of Guidelines on DGS contributions, amending the Guidelines on available financial means of DGS
The European Banking Authority (EBA) published a corrigendum of the revised Guidelines on methods for calculating contributions to deposit guarantee schemes under the DGSD (EBA/GL/2023/02). This applies to paragraph 13 in the section Repeal. Read more |
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FROM THE EBF
EBF: Comment on the new EU Retail Investment Strategy The EU Retail Investment Strategy published today by the European Commission is an opportunity to promote access to financial investments by retail clients while ensuring a high level of investor protection. However, the combined effect of the new far-reaching changes may still have significantly disruptive impacts on both the European financial sector and access to financial advice by European households. Read more
EBF: Access to data by public bodies: a double-edge tool to use with caution and restraint
Together with other associations, the EBF has co-signed a statement addressing concerns on Chapter V of the Data Act which covers access to data by public bodies. Read more 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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