EBF MORNING BRIEF Tuesday 11 May 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
FT: Recovery fund set to drive EU rebound, say economists
On Wednesday, the Commission is due to present its own assessment of the economic outlook, including the recovery fund, known as Next Generation EU. Economistsâ forecasts vary widely, but most who have examined the national plans submitted to Brussels so far believe they will produce a substantial boost to growth likely to be greater than either the EU or the countries themselves have predicted, the Financial Times (FT) reports. Read more (âŹ) Euractiv
Finextra: Three âbeyond bankingâ opportunities banks canât ignore
Financial institutions in Europe can benefit from new business models that are relevant to customers. Three different areas for banks to explore in order to bring value to customers are highlighted, including housing, financial health, and lending. Read more
S&P Global: How Barclays CEO won the battle vs. activist investor
Activist investor Edward Bramson's departure from the share register of Barclays PLC is vindication for CEO Jes Staley's determination to focus on the investment banking arm. "The pandemic has given Staley a real victory on his strategy of a diversified bank. Bramson was saying focus on retail, get rid of the investment bank, but in 2020 unsecured credit died and the retail bank got hurt from the cut in interest rates and it was the investment bank which really bailed the bank out," Fahed Kunwar, equity analyst at Redburn, told S&P Global Market Intelligence. Read more |
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MAIN EVENTS OECD âD4SME SME Digitalisation & Sustainability: The twin transitionâ webinar EBF Crisis Intervention Working Group virtual meeting For a full-year overview of key financial regulation events: click here |
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REGISTRATION OPEN
Banking Essentials Webinar Managing Credit Risk during the COVID-19 Crisis & Recovery Phase in Europe
Tuesday 25 May 15:30 CEST / 14:30 GMT
Over the past year, the European banking industry has quickly build real-time data and analytics into credit risk systems. Gonzalo Gasos, Senior Director of Prudential Policy & Supervision at the European Banking Federation (EBF), and Arsene Lui, Senior Quantitative Analyst at S&P Global Market Intelligence will explore the impact across the banking landscape and how default assessment plays a pivotal role in the recovery. Register HERE |
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FROM THE EBF MEMBERS
FBF: French banks' vision for the Banking Union
Bertrand Lussigny, Director of the Banking Supervision and Accounting Department of the French Banking Federation (FBF), outlined the vision of French banks for the Banking Union. He believes the completion of the Banking Union to only be envisaged on the basis of a single regulation, the implementation and enforcement of the existing pillars and the recognition of the euro area as a single jurisdiction in its regulatory and prudential components. Read more (FR)
Finance Norway: FinTech, BigTech, and crypto: will new technology make banks redundant?
On May 11 at 9 am, Ida Wolden Bache, Deputy Governor at Norges Bank speaks about FinTech, BigTech and crypto and discusses whether these new technologies can make banks redundant. Finance Norway welcomes the introduction of this important topic in the public debate. Watch the video HERE
BPFI: Payments Monitor â Contactless Update March 2021
The latest contactless payments figures published by the Banking & Payments Federation Ireland (BPFI) show that over âŹ948 million worth of contactless payments were made during March 2021, an increase of 72% on the same time last year. "The increases in the use of contactless payments clearly demonstrates the shift which has taken place from cash to digital payments", Brian Hayes, Chief Executive at BPFI states. Read more |
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FROM THE INSTITUTIONS
ECB: A long journey: Philip R. Lane's interview with Le Monde
The journey to recovery is a long one and will require sustained fiscal and monetary support, Philip R. Lane, Member of the Executive Board of the European Central Bank (ECB) tells Le Monde. He also discusses structural changes arising from the pandemic and the strong recovery in global trade. Read more
ESRB: Investment funds, monetary policy, and global financial cycle
The European Systemic Risk Board (ESRB) published a paper on the role of international investment funds in the transmission of global financial conditions to the euro area. The analysis shows that a loosening of US monetary policy leads to higher investment fund inflows to equities and debt globally. For the euro area, these inflows do not only imply elevated asset prices but also coincide with increased debt and equity issuance. Read more
EBA: Updates on Deposit Guarantee Schemes across the EEA
The European Banking Authority (EBA) published the 2020 data relating to two key concepts and indicators in the Deposit Guarantee Schemes Directive (DGSD): available financial means, and covered deposits. Nearly all Deposit Guarantee Schemes (DGS) in the EU have increased their available financial means (AFM) by more than 12% while covered deposits in the EEA grew by 8.6%. Read more |
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FROM THE EUROPEAN BANKING FEDERATION
Diversity, equity and inclusion in Banking: impact of COVID-19: A joint paper by EBF and EY
The European Banking Federation (EBF) and EY Banking are aiming to accelerate diversity, equity & inclusion (DE&I) within the banking sector. The joint paper addresses the COVID-19 impact on DE&I within banks and the effect of the pandemic on driving inclusion in a remote work environment. 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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