EBF MORNING BRIEF Thursday 7 September 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: Speeding up green transition would make it cheaper too
Speeding up the transition to a greener economy would be cheaper than delaying it, the European Central Bank's (ECB) second climate stress test shows. As reported by Reuters, despite higher initial costs, the ECB said lower energy expenses and financial risk later on meant this path would see banks' annual losses on loans peak at 13 billion in 2026, before declining to 6.6 billion euros by 2030. Read more
Bloomberg: ECB’s Knot says markets risk underplaying hiking chances
Investors largely betting against a European Central Bank (ECB) interest-rate increase next week are “maybe” underestimating the likelihood of it happening, according to Governing Council member Klaas Knot. “Tightening — a further hike — is still a possibility, but not a certainty,” he adds as heard by Bloomberg. Read more
EURACTIV: Slovenia plans windfall tax for bank assets
The Slovenian government plans to impose a tax on bank assets as a temporary measure to help finance the reconstruction after the devastating floods in August. The tax would be levied on 0.2% of the bank’s total assets for five years, EURACTIV reports. Read more |
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REGISTRATION OPEN! Testing times: What do Europe’s bank stress tests tell us about financial stability, and how might they change in the future? |
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Join our panel of experts as we discuss the key takeaways from the first post-COVID stress test. How does the methodology stack up against that of previous tests, how might it change in the future and how useful are the results? In this webinar we'll also look at how the EU stress test compares to tests in the US and UK, and what the results mean for the stability of the EU’s banking sector at a critical time for the global economy. |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
BPFI: Support measures for mortgage customers
Banking & Payments Federation Ireland (BPFI) has launched the second phase of its 'Dealing With Debt' campaign to highlight new and existing supports available for mortgage customers who may be experiencing financial difficulties in light of the continued cost of living pressures and the recent increase in interest rates. Read more
NVB: Safety session to share knowledge about the 'criminal journey'
Fraud money travels a long way until it is laundered. During this 'criminal journey,' there are several moments at which banks, the Financial Intelligence Unit (FIU), and the Fiscal Intelligence and Investigation Service (FIOD) can intervene. These parties come together during a special security session promoted by the Dutch Banking Association (NVB) to share knowledge about how they can work together in a targeted manner. Read more (NL)
CBA: Cybertest 2023
Cyber attacks are increasing dramatically, with over 30,000 in the first half of the year alone. That is why the Czech Banking Association (CBA) is launching a nationwide educational campaign incorporating artificial intelligence into it. Read more (CZ) |
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FROM THE INSTITUTIONS
ECB: Faster green transition benefits all
A speedier green transition initially involves more investment and higher energy costs, according to the European Central Bank (ECB)'s economy-wide climate stress test. However, financial risks fall significantly in the medium term. Any delay means missing the Paris Agreement goals and exacerbating costly physical risks. Read more
EC: Digital Markets Act: Commission designates six gatekeepers
The European Commission (EC) has designated, for the first time, six gatekeepers - Alphabet, Amazon, Apple, ByteDance, Meta, and Microsoft - under the Digital Markets Act (DMA). The six gatekeepers will now have six months to ensure full compliance with the DMA obligations for each of their designated core platform services. Read more
ESMA: European Single Electronic Format Reporting Manual updated
The European Securities and Markets Authority (ESMA) published the annual update of its Reporting Manual on the European Single Electronic Format (ESEF). 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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