EBF MORNING BRIEF Tuesday 25 October 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 EURACTIV: ECB again eyes jumbo rate hike to ‘tame inflation beast’ The European Central Bank (ECB) is expected to set aside recession worries and deliver another jumbo interest rate hike this week to cool inflation, as Russia’s war on Ukraine sends energy prices soaring. As reported by EURACTIV, analysts said they saw the ECB going even bigger, predicting a 100 basis-point jump followed by smaller hikes over the coming months. Read more
FT: Danger of defaults looms larger for private credit funds
After a long-running period of success, concerns are mounting that the twin threats of rising inflation and a global recession pose problems for private credit. Indeed, according to the Financial Times (FT), borrowers’ exposure to rising rates heightens the risk for managers with less defensive portfolios. Read more
PYMNTS: Computop enables A2A payments for eCommerce merchants
Payments platform Token has teamed with payment service provider Computop Paygate to meet what the companies say is a growing demand in Europe for open banking payments, PYMNTS reports. According to the release, Paygate enables integrated payment processes for eCommerce merchants, features more than 350 payment types from around the globe, and transferred $36 billion in payments in 2021. Read more |
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MAIN EVENTS -
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Joint meeting of the European Parliament Committee on Economic and Monetary Affairs and the Subcommittee on Tax Matters -
Council Ad Hoc Working Party on the Social Fund -
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Commerzbank Annual Reception
For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS Finance Latvia: Credit limit calculator available for companies For entrepreneurs to familiarize themselves with a preliminary calculation of their company's borrowing possibilities, JSC "Kredītinformations Birojs" in cooperation with the Financial Industry Association has developed a company creditworthiness calculator. It is available to anyone interested on the website of Finance Latvia. Read more(LAT) ABBL: Results of the 15th ABBL/CSSF Private Banking Survey The Luxembourg Bankers' Association (ABBL) Private Banking Group Luxembourg and KPMG Luxembourg have come together to compile the results of the annual Private Banking Survey for 2021, an analysis based on a detailed questionnaire sent to senior executives of financial institutions. The objective of the survey was to gain a unique insight into the health of the private banking sector in Luxembourg, to measure trends affecting the industry, and identify future challenges. Read more UK Finance: Consumer duty champions When it comes to Consumer Duty, UK Finance is hearing a lot about how clients are making plans, mapping the rule they are undertaking, and analyzing the gaps that are being completed. While progress is noticed, many are still formulating their plans. The Financial Conduct Authority (FCA) has now clarified what stage those plans need to be at by the end of October. Read more |
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FROM THE INSTITUTIONS ESMA: Environmental commitment meets the top European standard The European Securities and Markets Authority (ESMA), has been recognized for its environmental management system under the European Eco-Management and Audit Scheme (EMAS) and ISO 14001. The aim is to safeguard the stability of the European Union's financial system by enhancing the protection of investors and promoting stable and orderly financial markets taking into account sustainable business models and the integration of environmental, social, and governance-related factors. Read more EBA: Integration of ESG risks in the supervision of investment firms The European Banking Authority (EBA) published a report on how to incorporate environmental, social, and governance (ESG) risks in the supervision of investment firms. The report also provides an initial assessment of how ESG factors and ESG risks could be included in the supervisory assessment of investment firms. The objective is to set the foundations for further considerations of the ESG aspects in the supervisory review and evaluation process (SREP) of investment firms. Read more
BIS: Smart contract-based carbon credits attached to green bonds
The use of innovative technology for green finance is one of the major focus areas of the Bank for International Settlements (BIS) Innovation Hub's Hong Kong Centre. The just-published report on Project Genesis 2.0 explored the technical feasibility to digitise green bonds with carbon forwards to enhance the transparency, objectivity and environmental integrity of the green bond market. Read more |
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FROM THE EBF
EBF: Open Finance must be approached as part of the European data economy to drive innovation and new consumer experiences
Following the publication of the report on Open Finance by the Expert Group on the European Financial Data Space, the European Banking Federation (EBF) stressed the importance of approaching Open Finance as part of the broader European Commission’s initiatives on a data-driven economy. 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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