EBF MORNING BRIEF Thursday 3 November 2022 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: ECB warns banks of capital hit if they fail to tackle climate risk The European Central Bank (ECB) has warned banks that failing to tackle their financial risks from climate change in the next two years will result in higher capital requirements and fines, the Financial Times (FT) reports. In a blog, Frank Elderson, vice-chair of the ECB’s supervisory board said: “Most banks’ strategy documents are full of references to climate change, but actual shifts in revenue sources remain rare.” Read more
CoinDesk: What's next for Europe's markets in crypto assets law
The European Union is set to be the first major jurisdiction in the world to agree on how to regulate the digital asset sector, via its Markets in Crypto Assets regulation (MiCA). However, according to an opinion piece by CoinDesk, MiCA leaves a lot out as it doesn’t fully cover decentralized finance, non-fungible tokens, or crypto lending. Read more
Reuters: Moody's cuts outlook for European banks on credit woes
Global credit rating agency Moody's downgraded its outlook for banks in Germany, Italy and four other countries to "negative" from "stable" as Europe's energy crisis and high inflation weaken its economies. As reported by Reuters, Moody's said it expected weaker bank loan quality, profitability, and access to funding. Read more |
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Close Up: Building Pan-European Instant Payments Thursday 24 November | 3:30 PM CEST | ONLINE |
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 | The Digital Thursdays are back with a close-up event on instant payments in Europe!
In light of the European Commission's latest proposal to bring instant payments towards the ‘new normal’, we will discuss this proposal, what it means for the industry and how it will impact the potential for building pan-European solutions based on instant payments. |
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MAIN EVENTS Thursday 3 November Friday 4 November For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
Finance Finland: Entrepreneurs' pension payments system
Liisa Hanén brings up the problem of the entrepreneurs' pension system from the point of view of micro-entrepreneurs in Finance Finland's Roundtable webinar. Hanén suggests that the situation would be improved if the pension assets of entrepreneurs were funded in the same way as those of wage earners. Read more (FI)
NVB: Sandra Phlippen appointed professor of Sustainable Banking
Sandra Phlippen has been appointed professor of Sustainable Banking at the Faculty of Economics and Business (FEB) as of January 2023, the University of Groningen announced. The chair is financially made possible by the Dutch Banking Association (NVB) and was established by the CR Rao Foundation. Read more (NL)
Finance Denmark: Still few homeowners in payment problems
In most cases, Danish homeowners pay their home loans on time. The latest figures from Finance Denmark show this. However, high energy prices and high inflation can make it harder for some families to pay their mortgages. Read more (DK) |
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FROM THE INSTITUTIONS ECB: Banks need to be climate change proof Banks must adapt the way they do business to account for climate-related and environmental risks, says Frank Elderson, Member of the European Central Bank (ECB)'s Executive Board. In a blog, he looks at ECB's progress and the road ahead. Read more
ESMA: Withdraw the recognition of six Indian CCPs
The European Securities and Markets Authority (ESMA) announces that six central counterparties (CCPs) established in India will have their recognition decisions withdrawn in accordance with the European Market Infrastructure Regulation (EMIR). Read more
BIS: Project Mariana: CBDCs in automated market makers
The Bank for International Settlements (BIS) Innovation Hub is launching a new project around central bank digital currencies (CBDCs) and Decentralised Finance (DeFi) protocols. Project Mariana explores automated market makers (AMM) for the cross-border exchange of hypothetical Swiss franc, euro, and Singapore dollar wholesale CBDCs. Read more |
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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 |
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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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