EBF MORNING BRIEF Tuesday 18 July 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
Bloomberg: ECB to bring rates to 4% peak, economists say
The European Central Bank (ECB) will boost borrowing costs to a peak of 4% in September, according to a survey of economists polled by Bloomberg. Behind their change in opinion is a worsening outlook for inflation. Read more
The Banker: How are rising interest rates affecting banks?
The financial system has proved remarkably resilient, so far, to rising interest rates. But cracks are starting to appear as these filter through to borrowers and credit losses start to mount, The Banker reports. Read more
Finextra: FSB strengthens regulatory framework for crypto-assets
The Financial Stability Board (FSB) published a global regulatory framework for crypto-asset activities based on the principle of ‘same activity, same risk, same regulation’. As reported by Finextra, the framework consists of two sets of recommendations for the oversight of crypto-asset activities and the supervision of global stablecoin arrangements. 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
FBF: Nicolas Namias to become FBF Chairman
Nicolas Namias, Chairman of the Management Board of BPCE, succeeds Philippe Brassac, Chief Executive Officer of Crédit Agricole SA, and will become, from September 1, 2023, Chairman of the French Banking Federation (FBF). Read more (FR)
NVB: Two new standards for risk-based customer research
The Dutch Banking Association (NVB) published two new Standards for risk-based customer research. The NVB Standard on Ongoing Due Diligence describes how banks can conduct customer due diligence and ongoing monitoring effectively and proportionately. Instead of periodically having to review all customers, banks can make the transition to conducting targeted customer research if there is a real reason to do so based on risks. Read more (NL) CBA: Hypomonitor June 2023: Interest rate dropped to 5.86% According to Czech Banking Association (CBA) Hypomonitor, the volume of mortgages granted in June was the highest in the last year with the interest rate falling the fastest this year to 5.86%. This information comes from data capturing all domestic banks and building societies providing mortgage loans. Read more (CZ) |
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FROM THE INSTITUTIONS ECB: Strengthening resilience in a changing geopolitical landscape Christine Lagarde, President of the European Central Bank (ECB) spoke at the 9th ECB conference on central, eastern and south-eastern European countries. She affirmed that by leveraging the regional strength and further deepening the economic and political ties, Europe and its central, eastern and south-eastern countries can flourish together. Read more
ESMA: Report on Suspicious Transactions and Order Reports
The European Securities and Markets Authority (ESMA) published a Report on Suspicious Transactions and Order Reports (STORs). The report provides an overview of how STORs are used across different jurisdictions in the context of the detection and investigation of market abuse, and how their use has evolved over time. Read more EBA: Technical package for phase 2 of its 3.3 reporting framework The European Banking Authority (EBA) published the technical package for phase 2 of version 3.3 of its reporting framework. The technical package provides standard specifications and includes the validation rules, the Data Point Model (DPM) and the XBRL taxonomies for this phase of version 3.3. 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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This newsletter is published by the EBF Mediacentre.
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