| EBF MORNING BRIEF Tuesday 21 June 2022 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: Villeroy says ECB’s tool should send no-limits message
The European Central Bank (ECB)’s new anti-crisis tool should show that officials’ determination to defend the integrity of the euro has no limits, Governing Council member Francois Villeroy de Galhau said. “There should be some constructive ambiguity about the way we use such a new instrument,” he added. According to Bloomberg, sterilization would probably be part of the new tool. Read more
Reuters: EU faces 'severe' risk of disorderly financial market correction
As reported by Reuters, the risk of an abrupt correction in Europe's financial and housing markets is high, according to the European Central Bank (ECB) President Christine Lagarde. "Risks to financial stability have perceptibly increased since the beginning of this year," she said in her capacity as the Chair of the European Systemic Risk Board. Read more
FT: Asset managers told to clean up greenwashing and net-zero claims
Financial regulators appear determined to ensure that asset managers cannot exploit rapidly growing demand for ESG strategies by enticing investors with misleading or unrealistic claims, the Financial Times (FT) reports. However, key details have yet to be finalized for the EU’s Sustainable Finance Disclosure Regulation, which could affect how a fund is classified and sold to investors. 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 THE EBF MEMBERS
BdB: Banks keep a close eye on climate risks
"Identifying, measuring and controlling risks is a core competence of banks," said Christian Ossig, Managing Director of the Association of German Banks (BdB). Banks have been working intensively for some time to integrate climate risks into their risk management. The climate stress test acts like a catalyst and is an important exercise. Read more (DE)
Febelfin: Digital banking
The Brussels-Capital Region and Febelfin, the Belgian Federation of the Financial Sector, commit themselves to guiding citizens until 2025 towards more digital independence and in using digital tools, through training in internet and mobile banking and awareness-raising actions. Read more (NL)
Finance Denmark: Danes to get discount when they buy an apartment
The latest figures from Finance Denmark shows that buyers of condominiums are negotiating for bigger discounts than a year ago. Rising house rents and high inflation give indeed buyers better cards on hand. Read more (DK) |
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FROM THE INSTITUTIONS
ECB: Completing the transition to the new euro benchmark
The switch to the new euro short-term rate (€STR) was completed in January 2022. A smooth transition from EONIA to €STR as the overnight benchmark interest rate for the euro avoided risks to financial stability and monetary policy, according to the Economic Bulletin by the European Central Bank (ECB). Read more
BIS: Economic and financial outlook in the context of war in Ukraine
Denis Beau, First Deputy Governor of the Bank of France, discusses the outlook and the resulting risks which guide the Central Bank's actions to preserve monetary and financial stability. In the speech published by the Bank for International Settlements (BIS), he also addresses the longer-term challenges associated with climate change and the digitalization of finance. Read more
European Council agrees its position on updated rules for hedge funds, private debt funds, and other alternative investment funds
To improve the European Capital Markets Union (CMU) and strengthen investor protection, the Council reached agreement on its position on a review of the alternative investment fund managers directive, the legislative framework which governs managers of hedge funds, private equity funds, private debt funds, real estate funds and other so-called alternative investment funds in the Union. Read more |
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FROM THE EBF
EBF response to European Commission’s Targeted Consultation on a digital euro
Continuing its active and multi-level contribution to the public debate on the possible creation of a digital euro, the EBF has responded to the related European Commission’s targeted consultation. This is a key topic for the European banking industry as a digital euro seeks to respond to the unprecedented speed of digitalization of the economy and payments, and has the potential to fundamentally impact the banking system. Read more
New 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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