EBF MORNING BRIEF Tuesday 14 September 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
Bloomberg: ECBâs Schnabel tries to allay German fears as inflation quickens
The European Central Bank (ECB) doesnât currently see risks posed by rapidly rising consumer prices but it is diligently monitoring the situation and will act decisively if increases become sustained, Bloomberg reports. ECB Executive Board member Isabel Schnabel said that itâs âimportant to offer a factual explanation for the recent price increases and an assessment of future risks, especially in Germany" but "ECB monetary policy canât only be determined by conditions in that country". Read more
Reuters: Bank of England says COVID hitting timing of Basel bank capital rules
According to Reuters, countries are facing challenges in rolling out final elements of Basel III and may need to coordinate on timing. "Our work on Basel III has been delayed by our responses to the pandemic", Bank of England (BoE) executive director for prudential supervision Victoria Saporta said. "Other major jurisdictions like the EU and the United States are also facing challenges in terms of the timing. We do think it would be ideal for the package to be implemented at a very similar time in the major jurisdictions, so we are very open to coordinating with others to do that", she added. Read more S&P Global: Spanish banks face uncertainty on asset quality, despite no Q2 deterioration Spain's largest banks remain cautious about future problem loans even though they defied expectations regarding asset quality in the second quarter, according to analysts. The country's four biggest lenders by assets still had a total of âŹ18.82 billion worth of loans under moratoriums as of June 30, according to calculations by S&P Global Market Intelligence. Read more |
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MAIN EVENTS EBF and S&P Global âESG risk management in banks: Getting readyâ event. EBF Senior Policy Adviser â Sustainable Finance, Denisa Avermaete speaking ECB-Industry Dialogue on Market Risk online meeting EFIPP (Europol Financial Intelligence Public Private Partnership) Plenary meeting
For a full-year overview of key financial regulation events: click here
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REGISTRATION IS OPEN! European Banking Summit 2021:
BANKING ON THE FUTURE |
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| | This autumn will bring major developments for the European banking industry. Against this backdrop, Session 1 of the European Banking Summit will host a Roundtable to outline the banking industryâs role in the continued recovery efforts, the competitiveness of European banks on the international stage, and the direction of banking and monetary policy in a post-Covid landscape. During the discussion, representatives from European Institutions, banks and top researchers will address fundamental questions for EU banks and examine the pressing decisions and steep objectives faced by the banking industry in the regulatory field. You can now register, HERE. |
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FROM THE EBF MEMBERS
BdB: Youth study 2021: Large majority of young people feel abandoned in pandemic
According to the 2021 youth study by the Association of German Banks (BdB), almost three-quarters of those surveyed between the ages of 14 and 24 would like more information in school about economic issues. More than three quarters (77%) demand the introduction of separate subject economics. âWithout adequate economic and financial education, young people lack the necessary tools to understand the world. It should be the task of the school and of economic education to impart this knowledgeâ, said Andreas Krautscheid, BdB CEO. Read more (DE)
SBA: Podcast: Sustainable Finance - Investment and financing requirements for a climate-neutral Switzerland by 2050
"We are convinced that the financial center can and will significantly support the transformation of the Swiss economy towards a sustainable economy." This is what August Benz, Deputy CEO of the Swiss Bankers Association (SBA), said in the latest episode of the âVoices of the Financial Centerâ podcast. Together with Christian Schmid from the Boston Consulting Group, he will discuss the key findings from the study on âInvestment and financing requirements for a climate-neutral Switzerland by 2050â. Read more (DE)
Finance Latvia: Moodyâs upgrades Luminor Bankâs ratings
Moodyâs Investor Service (Moodyâs) announced the upgrade of Luminor Bankâs bank deposit ratings to A3 from Baa1, and long-term senior rating to Baa1 from Baa2. Following this, Moodyâs changed its rating outlook to neutral, Finance Latvia reports. Read more |
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FROM THE INSTITUTIONS
ECB: Isabel Schnabel: New narratives on monetary policy â the spectre of inflation
While rising inflation understandably worries people, current inflation rates should be interpreted with caution, says European Central Bank (ECB) Executive Board member Isabel Schnabel. Over the past two years, people have on average lost less purchasing power than on average over the last 20 years. Read more
EIOPA: Criteria for the independence of supervisory authorities
The European Insurance and Occupational Pensions Authority (EIOPA) published its criteria for assessing the independence of supervisory authorities. Taking on board the relevant articles in the Solvency II and IORP II Directive, international standards, and supervisory experiences, criteria specify the principles of operational, financial, and personal independence as well as transparency and accountability. As a next step, EIOPA plans to assess supervisory authoritiesâ independence. Read more
EC: High-Level Conference on AI: From ambition to action
European stakeholders are set to meet on 14 and 15 September 2021 for a high-level conference on AI organized by the European Commission (EC) and the Slovenian presidency. The event will focus on the uptake and innovation of AI, with sessions on AI and green, financing, as well as education and skills. Read more |
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FROM THE EBF
BCBS consultation on Prudential treatment of cryptoasset exposures: EBF response
The European Banking Federation (EBF) has responded to the consultation of the Basel Committee on Banking Supervision on the prudential treatment of crypto-asset exposures. During the development of the regulatory framework, it will be important to ensure a level playing field between the banking sector and market participants who are active in the issuance and trading of crypto-assets while setting the right incentive for banks to engage with crypto-assets. The EBF encourages the Basel Committee to take into due consideration the discussion taking place in its member jurisdictions, such as the discussion in the EU around the MiCA proposals. Read more
Targeted consultation on improving transparency and efficiency in secondary markets for NPLs: EBF response
The EBF and its banks stand ready to engage in a dialogue about alternatives to use the information for the enhancement of the secondary market for NPLs, taking into account the circumstances, the costs, and the expected benefits. EBF does not see relevant value in establishing a general and mandatory NPL data hub where only sellers are obligated to report. However, data on post-execution recoveries seems the most relevant to share and the EBF stands ready to discuss in detail how to make progress on this area within terms of the level-playing field. 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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