| EBF MORNING BRIEF Tuesday 26 January 2021 Good morning. Here are today's 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 EBF
EBF-UNEP FI report outlines path for application of EU Taxonomy to core banking services The EBF, together with the United Nations Environment Programme Finance Initiative (UNEP FI), today launches a report that for the first time assesses how the EU Taxonomy can be applied to core banking products. The report is based on case studies analysing transactions and existing client relationships across a large spectrum of sectors, economic activities and geographical locations. Read more |
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EU TAXONOMY FOR SUSTAINABLE ACTIVITIES Join us today at 14 CET for the EBF-UNEP FI event |
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Join us today and tomorrow together with the United Nations Environment Programme Finance Initiative (UNEP FI) for an online event to mark the launch of our joint EU Taxonomy report: Testing the application of the EU Taxonomy to core banking products: High level recommendations. REGISTER |
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FROM THE MEDIA
Euractiv: Banks ask for better data to implement EU green finance taxonomy The availability of good data is seen as one of the main challenges to implement the EU taxonomy on sustainable finance, according to a test conducted by banks, together with the United Nations Environment Programme Finance Initiative and the European Banking Federation. Read more FT: EU regulators face deadline to reform fund performance rules Lawmakers in Brussels have issued an unusually blunt warning to top EU regulators that an overhaul of controversial rules designed to help retail investors choose suitable funds must be finalised by the end of January. Read more Bloomberg: EU turns the screws on bankers clinging to London desks TP ICAP PIc. said Monday it was prevented from serving all its EU clients because it hadn’t completed its planned relocation of staff to Paris. The company’s disclosure came hours before a Dutch member of the European Central Bank's executive board emphasized the need for banks to build out their units in the bloc. Read more |
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MAIN EVENTS today -
EBF-UNEP FI launch of the report on the EU Taxonomy for Sustainable Activities. Programme -
GFLEC Webinar 'Connecting to Reimagine' on debt management and financial security. EBF CEO Wim Mijs speaking. Learn more -
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Virtual Briefing - McKinsey Global Banking Annual Review presentation -
First Finance and Central Bank Deputies meeting under the Italian G20 Presidency
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FROM THE EBF MEMBERS
AEB: Banks are prepared and ready for recovery José María Roldán, President of the Spanish Banking Association (AEB), says that public and private partnerships have been able to inject 102,144 million euros into Spanish companies, mostly SMEs and self-employed. The Spanish financial sector reiterates its offer to play a role in the implementation of the NextGen plan of the European Union. Read more (ES)
FBF: Four French banks among world's top ten for sustainable loans
The French Banking Federation (FBF) reports that in 2019, four French banks are among the world's top ten for green and sustainable loans, with a 27% market share of green, social and sustainable bonds. Read more (FR) NVB: Seal bag machines reopen after security issue The Dutch Banking Association (NVB) reports that Geldmaat and Dutch banks have decided to reopen 40 Geldmaat seal bag machines across the country, following the temporarily closure of more than 500 machines last week for security reasons. Read more (NL) |
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FROM THE INSTITUTIONS EBA to launch stress testing exercise The European Banking Authority (EBA) will launch its 2021 EU-wide stress test exercise with the publication of the macroeconomic scenarios on 29 January at 18:00 CET. The EBA expects to publish the results of the exercise by 31 July 2021. Read more ECB publishes paper on on global impact of US monetary policy The European Central Bank (ECB) has published a paper exploring global impacts of US monetary policy uncertainty shocks. It highlights that US interest rate uncertainty not only drives local output and inflation volatility, but also causes declines in output, inflation, and the interest rate. Crucially, the ECB highlights strong global impacts. Read more
European Systemic Risk Board recommendations published
The Official Journal of the European Union has published recommendation of the European Systemic Risk Board of 15 December 2020 amending Recommendation ESRB/2020/7 on restriction of distributions during the COVID-19 pandemic (ESRB/2020/15) 2021/C 27/01. 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. 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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