EBF MORNING BRIEF Thursday 8 June 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
Bloomberg: ECB has more ground to cover on rates
The European Central Bank (ECB) hasn’t finished increasing borrowing costs as core inflation proves stubborn, Executive Board member Isabel Schnabel says. According to Bloomberg, policymakers are suggesting that another move might be required in September. Read more
FT: EU eyes conflicts of interest crackdown in ESG rating rules
Agencies that rate businesses and investment funds on their environmental, social, and governance (ESG) credentials may face fines for conflicts of interest, the Financial Times (FT) reports. The proposal is to be announced by the European Commission next week as part of a crackdown on “greenwashing”. Read more
Reuters: Barclays reviews options for payments business
Barclays is studying options for its global payments activities as a part of a broader review into how it allocates resources, two people familiar with the matter told Reuters. Read more |
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MAIN EVENTS Thursday 8 June Council Working Party on Tax Questions (Direct Taxation)
Friday 9 June
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
UK Finance: Household Finance Review UK Finance releases its latest Household Finance Review Q1 2023, which explores trends in household spending, saving, and borrowing. Data show that mortgage lending and household savings fall as affordability pressures increase. Read more
Finance Denmark: The Danish Financial Supervisory Authority defies political wishes to avoid over-implementation
The Danish Financial Supervisory Authority is trying to introduce a requirement that increases the amount of capital that banks must hold to cover losses. "The increased costs will affect the lending opportunities of the Danish institutions in relation to their European competitors," says Ulrik Nødgaard, CEO of Finance Denmark. Read more (DK)
Finance Latvia: Residents increasingly victims of fraudsters
Data show that the number of registered frauds and fraud attempts in Riga has significantly decreased, while the number of cases in previously less affected regions has increased. To promote citizens' knowledge of misleading tactics, SEB banka has developed the Code of Safe Conduct "Seven "NO's", Finance Latvia reports. Read more (LAT) |
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Sustainable Finance Summer School |
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Amid escalating climate change and energy crises, the European Commission Joint Research Centre’s 5th Sustainable Finance Summer School unites global experts to examine risk, digital technology’s role, and strategies for scaling sustainable finance in emerging economies. Combining academic sessions and policy-oriented lectures, this pivotal event fosters innovation, research, and policymaking in sustainable finance.
Registration is free, encouraging diverse attendance
for vital cross-sector discussion. |
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FROM THE INSTITUTIONS ECB: Towards European financial integration Completing the banking and capital markets union projects is key to enhancing integration and stability in the euro area financial system, says European Central Bank (ECB) Vice-President Luis de Guindos. Read more
EIOPA: NBS has withdrawn the authorization from NOVIS
Národná banka Slovenska (NBS) has issued a decision on the withdrawal of the authorization from NOVIS Insurance Company. The NBS has informed the host national supervisory authorities about the decision via the cooperation platform set up by the European Insurance and Occupational Pensions Authority (EIOPA). Read more
ESMA: Follow-up report to the peer review on the Guidelines on ETFs and other UCITS issues
The European Securities and Markets Authority (ESMA) has published its follow-up report to the peer review on the Guidelines on ETFs and other UCITS issues. At the same time, ESMA notes that there are still concerns in relation to the level of costs for some UCITS using Efficient Portfolio Management techniques. Read more |
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FROM THE EBF
EBF: Joint industry statement on the EU retail investment strategy The European financial and insurance sector supports the objective of the European Commission's Retail Investment Strategy (RIS) to boost retail participation in financial markets. While a full assessment is still on the way, we have been pleased to see a shift towards ‘digital-by-default’ communication, and an effort to streamline disclosures and promote financial literacy. However, many proposed measures are still far-reaching and raise multiple concerns. 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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