FROM THE MEDIA

Bloomberg: Deutsche Bank CEO urges to use a room for more relief

Deutsche Bank AG Chief Executive Officer Christian Sewing urged regulators to provide more relief to Europe’s banks to keep loans flowing as the pandemic’s second wave engulfs the region. While regulators were quick to respond to the crisis at the onset, they have “additional potential” to aid the flow of credit, Sewing said Monday at a conference, Bloomberg reports. He suggested that some of the money banks are required to pay into a fund for winding down failed lenders should be used instead to grant credit, and called for lawmakers to reassess the consequences of a planned update of the Basel capital rules. Read more

FT: EU regulators seek solution to post-Brexit derivatives rule clash

European regulators are racing to avoid London branches of EU banks having to route derivatives trades through New York, if Brussels fails to deem the City’s regulatory standards robust enough after Brexit, FT reports. Officials are working on emergency tweaks to rules in the event the UK and the EU do not grant sufficient access rights to each other’s financial services markets, in a set of so-called equivalence decisions, before Britain leaves the bloc on December 31. Read more (€)

Bloomberg: Europe is planning its very own e-currency

The European Central Bank appears serious about a digital euro. Barely a month after the central bank issued a major report on the topic, and opened a public consultation, President Christine Lagarde said “her hunch” is that the euro zone could have its own electronic currency within two to four years, Bloomberg reports. Provided the rest of the institution’s governing council agrees with her, this could put the ECB well ahead of other major western central banks — above all the U.S. Federal Reserve. Read more

Reuters: ECB should increase monetary accommodation

The European Central Bank’s governing council should further increase monetary accommodation to potentially avoid problems of market fragmentation given a worsening outlook for both economic activity and inflation, ECB policymaker Pablo Hernandez de Cos said on Monday, Reuters reports. Read more

FT: The bank dividend ban has failed and should be lifted

Back when the British government imposed colonial rule over India, its leaders wanted to cut down on the population of deadly cobras in Delhi, FT writes. So the government offered a bounty for every cobra carcass. Delhi residents responded rationally — they began breeding cobras to claim the rewards. Read more (€)

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EU PAYMENTS AT CROSS-ROADS:
WHAT STRATEGY FOR THE FUTURE?

ONLINE/ Thursday, 19 November, 15:00 CET

Join us on Thursday, 19 November at 15:00 CET for the last conference of the EBF Innovation and Cybersecurity Thursdays' series titled EU payments at cross-roads: what strategy for the future?. 

Find out more & register HERE

MAIN EVENTS today

• European Council: Video conference of European affairs ministers

• ESMA: Virtual workshop on the ENISA Report - Cybersecurity for SMEs: Challenges and Recommendations

• QED webinar: Priorities of the Portuguese Presidency

• CBI webinar: Political briefing - Northern Ireland

• EBF Business Lending Working Group virtual meeting

• EBF KYC & RBA Task Force virtual meeting

FROM THE EBF MEMBERS

FROM THE INSTITUTIONS

European Parliament: Report on the appointment of Elderson to ECB

The consolidated report on the Council recommendation on the appointment of a Member of the Executive Board of the ECB has been published. It delivers a favourable opinion on the Council recommendation to appoint Frank Elderson as Member of the Executive Board of the European Central Bank and instructs its President to forward this decision to the European Council, the Council and the governments of the Member States. Read more

ESMA: EU derivative clearing showed strong growth in 2019

ESMA published its third Annual Statistical Report (Report) analysing the European Union’s (EU) derivatives markets. It provides a comprehensive market-level view of the EU’s derivatives markets in 2019, which had a total size of €681tn gross notional amount outstanding, a decrease of 5% on 2018. The Report is based on data submitted under the European Markets and Infrastructure Regulation (EMIR). Read more

FSB: Guidance on CCP financial resources for resolution

The Financial Stability Board (FSB) published final guidance on financial resources to support central counterparty (CCP) resolution and on the treatment of CCP equity in resolution. The guidance will support resolution authorities and crisis management groups in assessing the adequacy of financial resources for CCP resolution and provides guidance on approaches to the treatment of CCP equity in resolution. Read more

ECB: Euro area financial sector in pandemic crisis

The coronavirus crisis amplified vulnerabilities in the euro area financial system, says Vice-President Luis de Guindos who discusses policy implications for banks and non-banks. Read more

IMF: Annual Report: Year like no other

The International Money Found (IFM) published the Annual Report: Year like no other. It reflects the policy advice, lending, and capacity development work of the Executive Board and staff to help member countries before and during the pandemic—with a focus on policies for people that recognize the impact of macroeconomic policies on individuals. Read more

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Banking Essentials Webinar: SME FINANCE IN THE 2020s Powering up the economy engines

ONLINE/ Tuesday, 24 November, 15:30 CET

Small and medium-sized companies, especially those in services, are essential to create the new sustainable and digital jobs required to fuel the economic recovery from the Covid-19 pandemic. SMEs are the backbone of Europe’s economy, representing 99% of all businesses in the EU and employing around 100 million people. They account for more than half of Europe’s GDP and play a key role in adding value in every sector of the economy. Encouraging growth in SMEs can deliver the innovation required for a successful twin transition to a sustainable and digital economy. Read more

FROM THE EUROPEAN BANKING FEDERATION 

EBF CBF & IBM guide stakeholders for Cloud Exit Strategy Testing

EBF Cloud Banking Forum (CBF) and IBM discuss the necessity for clear guidance on when and how to test exit plans, looking at appropriateness and sufficiency of testing, according to the Forum's technical paper on "Cloud Exit Strategy - testing of exit plans.” Read more  Cloud Banking at EBF

ABOUT THE EUROPEAN BANKING FEDERATION
 

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations. The EBF 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.

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