FROM THE MEDIA

Reuters: EU hires banks for first recovery fund bond 

The European Union on Monday hired banks for a 10-year bond sale, the first to finance its recovery fund. The sale will be launched on Tuesday, subject to market conditions, memos from two lead managers seen by Reuters said. After this inaugural crucial step in financing the bloc's economic recovery from the coronavirus pandemic, the EU will sell two more bonds via syndication by the end of July, reports Reuters. Read more

Bloomberg: European regulators should let Banks bank

There’s a conflict brewing in Europe between regulators, banks and some politicians over how new Basel III-compliant rules will be framed. European banks are worried that the new standards, which will increase capital requirements on average by 19%, will crimp lending. These stringent new capital requirements may choke off financing that’s urgently required to build infrastructure in the developing world, writes Bloomberg. Read more

Politico: Christine Lagarde: ‘Not to brag about it, but we sure delivered’

Christine Lagarde, president of the European Central Bank, talks to POLITICO about the first crisis she steered the bank through and the EU's economic recovery. In a wide-ranging interview, the Frenchwoman spoke about the outlook for the pandemic emergency purchase program, the bank’s strategy review, its relationship with national courts and the future of Europe after German Chancellor Angela Merkel’s retirement. Read more

MAIN EVENTS

FROM THE EBF MEMBERS

FROM THE INSTITUTIONS

ECB: Anchoring the recovery

The recovery needs to be firm, solid and sustainable, the European Central Bank (ECB) President Christine Lagarde tells Politico EU. We are at a turning point, heading firmly towards a return to pre-pandemic levels, but we must anchor the recovery before reducing support to the economy. Read more

European Council: Conclusions on enhancing the European financial architecture for development 

The Council adopted conclusions on enhancing the European financial architecture for development (EFAD). They leverage the entire European financial development ecosystem, encouraging the European Investment Bank (EIB), as the EU’s Bank, and the European Bank for Reconstruction and Development (EBRD) to work together more effectively and efficiently and to strengthen their cooperation with the European development banks and financial institutions in a Team Europe approach, increasing EU visibility. Read more

BIS: Isabel Schnabel: From market neutrality to market efficiency

Isabel Schnabel, Member of the Executive Board of the European Central Bank (ECB) addressed the interaction between climate policies, financial markets and sustainable development at the ECB DG-Research Symposium. 'The Symposium underscores the ECB's commitment to better understand the consequences of climate change for output and inflation, to explore the role that central banks can play in fostering the transition to a low-carbon economy, and to support high-quality academic research on climate change', Schnabel said. Read more

FROM THE EUROPEAN BANKING FEDERATION 

EU-U.S. Summit: A critical milestone for the global agenda: Joint Industry Statement

The European Banking Federation along with other business associations sees the upcoming EU-US summit as a critical milestone for the global agenda. The Summit represents an opportunity for these strategic partners to map out a proactive agenda focused on reducing barriers to trade; ensuring both sides of the Atlantic come out of the pandemic with stronger, more resilient economies; and seeking new areas for convergence and leadership as we transition towards a greener, digitalized international economy. Read more

EBF adopted the Women’s Empowerment Principles

EBF adopted the Women’s Empowerment Principles (WEPs) to generate opportunities for women in all the ways in which they interact with our banks. European banks are actively working on gender equality. As one of the first federations ever to adopt the WEPs, we are setting a model for the sector to coordinate these efforts and speed up progress on gender equality. Check out our women's empowerment webpage now available HERE

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