EBF MORNING BRIEF Thursday 25 November 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
Bloomberg: Panetta says ECB mustnât overreact to âbadâ inflation bout
The European Central Bank (ECB) must not tighten monetary policy too early in response to an inflation spike driven by âpurely temporary factors,â according to ECB Executive Board member Fabio Panetta. The remarks follow a raft of comments from other ECB officials warning about the dangers posed by soaring prices, Bloomberg points out. Read more
FT: EU seeks more independence for bank regulators after Wirecard scandal
Germanyâs financial regulator BaFin is set to have to cut ties to banking lobbyists and ensure it does not take orders from the finance ministry under rules being proposed in the wake of the Wirecard scandal. According to the Financial Times (FT), the draft legislation would stop bank supervisors across the EU from âseeking or taking instructionsâ by any external body, including companies they regulate or government agencies. It will also tighten up rules on regulatory staff trading in the shares of supervised companies. Read more
Reuters: ECB Holzmann says likely pandemic purchases will be put on ice in March
Reuters reports that the European Central Bank (ECB) policymaker Robert Holzmann believes it is likely that the Pandemic Emergency Purchase Programme (PEPP) bond purchases will be wound down in March as planned and PEPP could be kept on ice for later use, he says. Read more |
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MAIN EVENTS
Thursday 25 November
Council Working party on Tax Questions (High Level) EBF ExCo hybrid Meeting ESG Risk Task Force virtual Meeting Friday 26 November EBF Board virtual Meeting For a full-year overview of key financial regulation events: click here |
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REGISTRATION OPEN! A NEW DAWN FOR EUROPEAN BANK M&A: KEY DRIVERS, VALUATIONS & EXPECTATIONS FOR 2022 |
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| | European bank M&A activity in 2021 is on track to outstrip both 2019 and 2020 levels, with domestic transactions making up the lionâs share of deals. We will discuss expectations for M&A activity in 2022 at the Banking Essentials webinar co-hosted by EBF and S&P Global Market Intelligence on 30 Nov. Join us to hear insights from Britta Schmidt, Partner and Senior Analyst at Autonomous, Eric Li, Head of Global Banking Research at Coalition Greenwich and Keri Elborn, Senior Director, Financial Services at Alvarez & Marsal in a panel moderated by Darragh Riordan, EMEA FIG Editor at S&P Global Market Intelligence. |
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SECURE YOUR VIRTUAL SEAT NOW! |
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FROM THE EBF MEMBERS
UK Finance: Retail CBDC: A threat or opportunity for payments?
The Bank of England reports that around 95 percent of the funds that people hold to make payments are now held as bank deposits rather than cash. UK Finance's recent paper, in partnership with EY, investigates some of the opportunities and threats of the development of CBDCs for the UK market. Read more
FBF: Latest corporate finance figures
Figures published by the French Banking Federation (FBF) show that, at the end of September 2021, the annual growth rate of bank loans to businesses stood at + 2.8 percent. The number of outstanding loans amounted to 1.211 billion euros (against 1.210 billion euros at the end of August). Read more (FR)
HUB: Tips for citizens: Watch out for fake and tempting "Black Friday" offers and be careful when buying and selling online
The Croatian Banking Association (HUB) urges citizens to be extra careful when shopping online on the eve of the popularly called "Black Friday" and the increasingly frequent attempts to misuse personal and card data. HUB provides advice on the responsible and secure use of cards and ways to prevent online fraud. Read more (HR) |
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FROM THE INSTITUTIONS
EBA: Report on the IFRS 9
The European Banking Authority (EBA) published a report summarising the findings of the monitoring activities on the International Financial Reporting Standard (IFRS 9) implementation by EU institutions. The aim is to assist supervisors to evaluate the quality and adequacy of IFRS 9 Expected Credit Loss (ECL) models, in order to contribute to a high-quality and consistent application of the IFRS 9 standard in the EU. Read more
ECB: Patience amid a rocky recovery
"We should not exacerbate the risk of supply shocks morphing into a demand shock", says European Central Bank (ECB) Executive Board member Fabio Panetta. To achieve the ECB 2% inflation target durably over the medium term, monetary policy must remain patient and focused on completing the recovery. Read more
European Commission: European Semester Autumn Package
The European Commission has launched the 2022 European Semester cycle of economic policy coordination. The European Semester Autumn Package includes the Annual Sustainable Growth Survey, Opinions on euro area Draft Budgetary Plans (DBPs) for 2022, policy recommendations for the euro area, and the Commission's proposal for a Joint Employment Report. 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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