EBF MORNING BRIEF Thursday 9 June 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 Bloomberg: ESG risks pose âclear and present dangerâ to banks The finance industry isnât doing enough to protect itself from environmental, social and governance (ESG) risks, according to the chairman of the European Banking Authority (EBA), Jose Manuel Campa. In an interview with Bloomberg, Campa also said thereâs also more in the pipeline to ensure European banks are properly prepared for the risks posed by climate change but he appeared to reject EU discussions around potentially using capital requirements for banks to steer capital toward ESG-friendly industries. Read more
FT: End of ECB stimulus to leave demand âvoidâ in bond market
The end of the European Central Bank (ECB)âs huge bond-buying regime will leave a âvoidâ of demand in the blocâs corporate debt market, investors warn, as they brace themselves for interest rate rises and more volatility. As reported by the Financial Times (FT), this will lead to greater dispersion of spreads and to companies seeking less financing. Read more
S&P Global Market Intelligence: CaixaBank to ride rising interest rate wave toward profitability goals
According to S&P Global Market Intelligence, CaixaBank is well positioned to deliver on its projected boost to profitability in the coming years because of its loan book's sensitivity to rising interest rates. CaixaBank is among the eurozone banks set to benefit from rising rates as its revenue is derived mainly from lending to homeowners, consumers and businesses. Read more |
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MAIN EVENTS Thursday 9 June Council Working Party on Tax Questions (Direct Taxation) Friday 10 June Council Working Party on Tax Questions (Direct Taxation) Council Horizontal Working Party on Cyber Issues
For a full-year overview of key financial regulation events: click here
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COMING TODAY A Single Market for Data:
How does Open Finance fit? |
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| | Today, tune in for the first EBF Digital Thursdays 2022 dedicated to âA Single Market for Data: How does Open Finance fit?". The discussion will explore the key developments in data sharing and the possibilities for data driven innovation. Join our speakers as they delve into the opportunities and challenges of the European Commissionâs proposal for a Data Act and discuss the path towards an Open Finance proposal. Read more |
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FROM THE EBF MEMBERS UK Finance: Household finances calm, but storm clouds gathering UK Finance's latest Household Finance Review looks at the trends in consumer borrowing and spending in Q1 2022. Despite clouds brewing on the economic horizon, the broad aggregate picture could be summarised as âso far, so good.â Spending appears broadly back to pre-pandemic trends, with increases in Q1 seen in the travel and entertainment sectors, which were amongst those most subdued over the past two years. Read more
Finance Latvia: Despite economic challenges, Latvians plan to travel
The summer months are the most popular holiday season, which this year coincides with major economic challenges due to the post-pandemic and geopolitical situation. Finance Latvia asks: do Latvians plan to go on vacation? According to a Swedbank Financial Institute's survey, more than half of Latvians admit that their holiday travel plans have not been significantly affected by the rising cost of living. Read more (LV)
NVB: Banks support Minister Kaag's ambitions of making financial sector more sustainable
The Dutch Banking Association (NVB) shares the urgency of Minister Kaag in calling for acceleration in making the financial sector more sustainable. This will prevent irreparable damage to the earth and achieve a sustainable economy. The NVB therefore supports the tightened ambitions of the cabinet. Read more (NL) |
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FROM THE INSTITUTIONS EBA: Consultation on technical standards on the identification of a GCC The European Banking Authority (EBA) launched a public consultation on draft Regulatory Technical Standards (RTS) on the identification of a group of connected clients (GCC). The draft RTS, in conjunction with the EBA Guidelines on connected clients, provide the complete framework for the identification of the GCC. The consultation runs until 8 September 2022. Read more
SRB: Response to the ECâs targeted consultation on the evaluation of state aid rules for banks in difficulty
The Single Resolution Board (SRB) has made a submission to the European Commission (EC)âs targeted consultation on the evaluation of state aid rules for banks in difficulty. The Commission will evaluate how State aid rules contributed to tackling moral hazard through burden-sharing measures, and how they mitigated competition distortions stemming from the granting of aid. Read more
ECB: Inclusive banking
"Itâs possible for banks to provide good customer service while also improving cost efficiency by closing branches and enhancing digitalization," says European Central Bank (ECB) Supervisory Board Chair Andrea Enria. Digitalization frees up resources to help those who are less tech-savvy. 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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