EBF MORNING BRIEF Tuesday 2 November 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
FT: UK pushes back deadline for Basel III update
According to the Financial Times (FT), the UK has eased its timetable for implementing the latest global bank capital standards but stopped short of the 2-year delay recently announced by the EU. In its twice-yearly update on regulatory initiatives, the UK said it would implement the latest Basel III banking standards âpost-March 2023â, without specifying a date. Read more
The Guardian: EIB to end all loans to oil and gas firms
The European Investment Bank (EIB) has vowed to close a loophole that allows it to lend money to oil and gas firms despite a ban on financing fossil fuel projects. According to The Guardian, the decision is likely to affect about 50 companies and public sector bodies, who make up about 10% of the recipients of EIB loans. Read more Reuters: ECB survey shows eurozone inflation just below goal in 2022 Eurozone inflation will be higher in the coming years than earlier predicted and will come in just below the European Central Bank (ECB)âs 2% target in 2022, a survey by the ECB showed. The ECB President Christine Lagarde admitted that consumer price growth will be high for longer while maintaining that no policy response is needed as inflation would sink back below the ECBâs target, Reuters reports. Read more |
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COMING THIS WEEK! EBF DIGITAL THURSDAYS 2021 |
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| | Stay tuned for the next Digital Thursdays dedicated to "Competing in digital finance: New rules for a new market" on 4 November 2021. The event will focus on the evolving competition landscape in digital financial services and the challenges it poses to the ongoing digital transformation of banking and banks. It will discuss the importance of ensuring fair competition among participants in the digital market and offer an exchange of views on some of the key policy debates such as the Digital Markets Act (DMA), access to and sharing of data, and the role that Digital ID can play in this shifting landscape. Read more |
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MAIN EVENTS Deadline for submissions on European Banking Authority consultation on the role, tasks and responsibilities of AML/CFT compliance officers EBF Post-Trading Working Group online meeting For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS NVB: New reality, a new blueprint for healthy players, and competition in the financial sector The new cabinet will work on a strong and sustainable Netherlands after the corona crisis. What does 'The Hague' expect from the banking sector? And vice versa: what do banks expect from politicians? These questions prompted a lively discussion at the Financial Gateway by the Dutch Banking Association (NVB). The starting signal came from Eugénie Krijnsen, Industry Leader Financial Sector at PwC: "During corona, Dutch banks showed that they contribute to solutions. But the banking landscape is more diverse than ever. This new reality calls for a new (European) blueprint". Read more (NL)
AEB: Saving is owning our future
JosĂ© Luis MartĂnez Campuzano, spokesperson for the Spanish Banking Association (AEB) discusses the principles of savings. "Each individual's savings goals are as unique as their vital priorities and scale of values. In a world dominated by innovation, it should be a priority to invest in financial education to equip future generations with the best tools to react to a world that does not stop changing. For the sake of their individual decisions and the whole of society", he said. Read more (ES)
LBA: The Liechtenstein Bankers Association joins UN-convened Net-Zero Banking Alliance as a Supporting Organisation
After the European Banking Federation, the Liechtenstein Bankers Association (LBA) is also joining the Net-Zero Banking Alliance (NZBA) as a Supporting Organisation. The industry-led, UN-convened Net-Zero Banking Alliance is Race to Zero-accredited and represents the banking element of the Glasgow Financial Alliance for Net-Zero. Read more |
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FROM THE INSTITUTIONS
ESMA: European enforcers target COVID-19 and climate-related disclosures
The European Securities and Markets Authority (ESMA), the EUâs securities markets regulator, has issued its annual Public Statement on European Common Enforcement Priorities (Statement). This yearâs priorities cover the impact of COVID-19 and climate-related matters, provide guidance on the measurement of expected credit losses, and highlight disclosure obligations pursuant to Article 8 of the Taxonomy Regulation. Read more
EIOPA: Opening remarks by Petra Hielkema at the workshop on understanding climate-change risks for insurance
The European Insurance and Occupational Pensions Authority (EIOPA) Chairperson, Petra Hielkema gave opening remarks at the EIOPA workshop on climate-change risks. "To progress, we have to leverage on all expertise available, not only among EIOPA members but also the industry and especially academia that could provide the theoretical framework and empirical models to deal with all challenges we are facing", she says. Read more
EBA issues Opinion on measures to address macroprudential risk following notification by the Finansinspektionen
The European Banking Authority (EBA) published an Opinion following the notification by Finansinspektionen, the Swedish Financial Supervisory Authority (FSA), of its intention to extend a measure originally introduced in 2018 and extended in 2020. The measure entails a credit institution-specific minimum level of 25% for the average risk weight on Swedish housing loans applicable to credit institutions that have adopted an internal ratings-based (IRB) approach. Based on the evidence submitted, the EBA does not object to the extension of the measure. Read more
European Commission weekly schedule
Find out more about the European Commission's engagement and activities for the upcoming week. Read more
European Central Bank weekly schedule Find out more about the ECB's engagements and activities for the upcoming week. Read more
European Parliament weekly schedule Find out more about the Parliament's engagements and activities for the upcoming week. Read more |
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FROM THE EBF
Basel III package: EBF calls for further dialogue to secure Europeâs economic growth
The European Banking Federation (EBF) takes note of the relevant items outlined in the legislative proposal published by the European Commission and highlights the importance of continued dialogue between banks and policymakers to complete the implementation of the internationally agreed prudential standards of Basel III. While the proposal puts forward several aspects previously identified by the Federation and provides a basis for further discussion, permanent solutions must be adopted to maintain banksâ current capital ratios without reducing their capacity to finance the economic recovery and to fund Europeâs digital transformation and sustainable transition. 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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