EBF MORNING BRIEF Tuesday 14 February 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: Loans to Russian soldiers fuel calls for European banks to quit
A Russian scheme to grant loan payment holidays to troops fighting in Ukraine, and for banks to write off the entire debt if they are killed or maimed, has added to growing pressure for the remaining European lenders in Russia to leave. The loan relief scheme has not only triggered criticism from Ukraine's central bank but also from investors concerned about any reputational impact, Reuters writes. Read more
CoinDesk: Restrictive crypto rules for EU banks confirmed
Banks in the EU would have to treat crypto as the riskiest kind of asset and disclose exposures while awaiting more detailed rules. As previously reported by CoinDesk, banks would have to disclose their direct and indirect exposure to crypto. Read more
POLITICO: Russian banks and exports set to be hit in new EU sanctions
The EU is set to hit Moscow with new financial sanctions, trade curbs and a ban on Russian nationals serving on boards of critical European infrastructure companies, EU diplomats and officials told POLITICO. Brussels is set to include new financial sanctions against four Russian banks including the country's largest private bank, Alfa-Bank. Read more |
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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 AEB: Adapt to the client "Banks have the objective of adapting to and even anticipating changes in customer preferences and continuing to offer them the best service, regardless of their skills in the use of technology," says JosĂ© Luis MartĂnez Campuzano, spokesman for the Spanish Banking Association (AEB). Read more (ES) UK Finance: Criminals targeting people looking for love online Ahead of Valentine's Day, UK Financeâs Take Five to Stop Fraud campaign is warning people to stay alert to criminals posing as an online love interest. Money lost to romance fraud remains high, with ÂŁ16.6 million stolen through these scams. Read more Finance Latvia: Council of the Financial Industry Association Chair Ieva Tetere, Chair of the board of JSC "SEB banka", was re-elected as the Chair of the Council of the Financial Industry Association for a one-year term. Finance Latvia published her statement on the importance of the financial sector as the backbone of the national economy of Latvia. Read more (LAT) |
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FROM THE INSTITUTIONS
ECB: Fiscal policy and high inflation
The euro area, like other advanced economies, has been facing challenges posed by the rapid and strong increase in inflation. Fiscal measures compensating for high energy prices reduce inflation in the short run, but they must be temporary and targeted to avoid counteracting monetary policy, writes the European Central Bank (ECB). Read more
EBA: Input from credit institutions on green loans and mortgages
The European Banking Authority (EBA) launched an industry survey to receive input from credit institutions on their green loans and mortgages as well as market practices related to these loans. The purpose of the survey is to collect both quantitative and qualitative information the EBA can use to advise the European Commission. Read more
EC: Joint Statement on the US-EU Financial Regulatory Forum
At the US-EU Joint Regulatory Forum, participants exchanged views on topics of mutual interest, including market developments, financial stability risks, Sustainable Finance, banking, capital markets, and AML. As reported in the joint statement published by the European Commission (EC), the parties will continue to engage on these topics ahead of the next Forum meeting, which is expected to take place in Summer 2023. Read more |
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FROM THE EBF
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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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