EBF MORNING BRIEF Thursday 9 December 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
Reuters: Eurozone inflation will take longer to fall back to 2%
Eurozone inflation will take longer to fall back to target than earlier thought but so far there is no evidence that high prices are becoming embedded in wages, European Central Bank (ECB) Vice President Luis de Guindos said. According to Reuters, while the ECB has maintained that inflation is temporary and will come back under target on its own, a growing number of policymakers are voicing their concern that a less benign outcome is also possible, so the bank should curb stimulus. Read more
FT: US overtakes EU as biggest financial services export market for UK
The US has overtaken the EU as the leading destination for UK financial services exports after trade with the bloc dropped last year following Brexit. The EU and UK failed to strike an equivalence deal for financial services, which would have allowed banks, insurers, law firms and accountants to work freely across borders after the UK left the bloc at the start of 2020, the Financial Times (FT) reports. Read more PYMNTS.com: Yolt expanding European pen Banking B2B platform Open banking provider Yolt is expanding its B2B platform across Europe after obtaining a PSD2 license from De Nederlandsche Bank (DNB), according to PYMNTS.com. The move allows Yolt to conduct open banking activities, including Payment Initiation Services (PIS) and Account Information Services (AIS) and gives more European businesses access to the open banking services it has offered since 2018 under ING’s PSD2 license. Read more |
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MAIN EVENTS
Thursday 9 December
Global Coalition to Fight Financial Crime Virtual meeting
Friday 10 December
For a full-year overview of key financial regulation events: click here
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FROM THE EBF MEMBERS
UK Finance: Household Finance Review
UK Finance's latest quarterly Household Finance Review highlights how consumer spending patterns continued to recover in Q3 2021 with particular strength in the mortgage market in the final phase of the stamp duty holiday. Read more
Finance Finland: Transparency register for lobbying is needed
Finance Finland is committed to transparency in its lobbying work and it publishes an annual report of its lobbying activities, listing all the decision-makers that Finance Finland has met in the context of its key priorities over the past year. These decision-makers include, for example, members of the Finnish Parliament, ministers and state secretaries, Members of the European Parliament and officials of the European Commission. Read more
Finance Denmark: New board of directors
At the annual general meeting of Finance Denmark, a new Board of Directors was elected. Carsten Rasch Egeriis has been re-elected as Chairman. Read more (DK) |
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FROM THE INSTITUTIONS
EBA consults on draft technical standards setting requirements for crowdfunding service providers
The European Banking Authority (EBA) launched a consultation on draft Regulatory Technical Standards (RTS) specifying the information that crowdfunding service providers shall provide to investors. The proposed requirements cover the method used for the calculation of credit scores and loan prices, the factors that the providers need to consider when carrying out a credit risk assessment and conducting a valuation of a loan, and the underlying policies and governance arrangements. The consultation runs until 8 March 2022. Read more
ESRB: The future of Europe’s macroprudential policy
In the last decade new types of threats to financial stability have emerged, such as climate change and cyber risks, says Christine Lagarde, President of the European Central Bank (ECB) and Chair of the European Systemic Risk Board (ESRB). We need to stand ready and develop the right tools to address them. Read more
ECB: Monetary policy and financial stability
Monetary policy needs to take financial stability risks into account for as long as the macroprudential policy is not fully effective, says European Central Bank (ECB) Executive Board member Isabel Schnabel. This has implications for the choice, design, and calibration of our monetary policy instruments. Read more |
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FROM THE EBF
European Banking Social Partners Commit to a Common Understanding on Remote Work
The European Banking Social Partners signed a Joint Declaration on Remote Work and New Technologies. The spread of the Covid-19 pandemic and the constantly increasing use of digitalised systems and processes led the Social Partners to reassess and appropriately update the approach to remote work in the European Banking sector. Read more
EBF response to CR 03/2021: Application of the Principles for Financial Market Infrastructures to Stablecoin Arrangements
The European Banking Federation (EBF) has responded to the joint consultation from the Committee on Payments and Markets Infrastructure (CPMI) and the International Organisation of Securities Commissions (IOSCO) on the Application of the Principles for Financial Markets. Read more
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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