| EBF MORNING BRIEF Tuesday 27 October 2020 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
Reuters: Cross-border mergers in Europe would help diversify banks
European monetary policymaker Pablo Hernandez de Cos on Monday called for cross-border banking consolidation in Europe to strengthen the European banking union and increase lenders’ geographical diversification, Reuters reports. European banks are under growing pressure to join forces to deal with rising bad debts and record-low interest rates as they battle the fallout from the novel coronavirus pandemic. Read more
FT: EU takes step to ease jitters over dual listings after Brexit
The EU markets regulator has taken steps to partly assuage investor concerns about trading after Brexit by indicating EU investors will be able to trade sterling-quoted shares of European companies listed in London, the Financial Times (FT) reports. Read more
Reuters: From climate change to equality, Lagarde turns ECB political Since taking the helm a year ago, Christine Lagarde has turned the European Central Bank’s attention to social issues like climate change and inequality, broadening its horizons but also opening it to attacks that could test its independence, Reuters reports. Read more
Yahoo!: UK regulator 'considering' deal to let banks restart dividends
Regulators are considering allowing banks to restart dividends next year, following a prolonged suspension of payouts due to the Covid-19 crisis, reports Yahoo!. Negotiations between the Bank of England (BOE) and commercial banks are ongoing and aim to allow banks to make shareholder payouts as long as loss-absorbing capital buffers remain strong, according to a report in The Times on Monday. Read more |
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MAIN EVENTS today -
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EBF Moratoria Task Force online meeting -
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For more events check the EBF planning calendar HERE
*All events take place in Brussels unless stated otherwise
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Join and register for free EUROPEAN DATA ECONOMY & OPEN FINANCE:
WHAT DOES IT ALL MEAN? ONLINE conference, Thursday 29 October, 15:00 CEST 
Join us on Thursday, 29 October and listen to the 'Fireside chat European data economy – bringing together different pieces of the puzzle' with Ulrik Nødgaard, CEO, Finance Denmark and Chair of the EBF Data Economy High-Level Working Group, Ondrej Kovarik, MEP at the European Parliament and Andreas Hartl, Head of Division Strategy Artificial Intelligence, Data Economy and Blockchain at the German Federal Ministry for Economic Affairs and Energy, as part of our 'European data economy & open finance' online conference #EBFDigitalThursdays
Register and find out more HERE
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FROM THE EBF MEMBERS
FD: Love scams are slowing down while investment scams are rising
While the vast majority of attempts at love fraud today are being curtailed, fraudsters make a lot of money on fake investment projects. This is shown by the latest figures from Finance Denmark (FD), which cover fraud cases from the first half of 2020. Read more (DK)
Febelfin: The Next Generation campaign: All about diversity
With the Next Generation of Finance campaign, Febelfin Academy introduces people to what is moving in the financial sector by bringing free webinars. In the latest webinar, ClaireGodding, Febelfin Inclusion & Societal needs, explains the importance of diversity. Read more
FBF: Finance cannot be totally green in a world that is not
In the run-up to Climate Finance Day, the Chairman of the Climate Commission of the French Banking Federation (FBF) takes stock of the sector's actions in favour of energy transition. Read his interview with the French newspaper L'Opinion Read more (FR)
UK Finance: UK and Japan trade deal lays foundation
UK Finance promotes regulatory coordination and supervisory cooperation as a key means to enhance the utility of our members’ operations in the UK in doing business in other markets. UK Finance also supports another helpful feature of the Japan UK agreement; the prohibition of requirements to oblige local storage of data held by firms (subject to limited exceptions for proper public purposes) and measures to allow free transfer of such data (in this case, between Japan and the UK). Read more |
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FROM THE INSTITUTIONS
Commission: The economic situation is EU citizens' top concern
In a troubled period marked by the coronavirus pandemic, trust in the EU remains stable and Europeans trust the EU to make the right decisions in response to the pandemic in the future. Read more
ESMA clarifies STO post-transition period ESMA has released a public statement that clarifies the application of the European Union’s (EU) trading obligation for shares (STO) following the end of the UK’s transition from the EU on 31 December 2020. This revised guidance aims at addressing the specific situation of the small number of EU issuers whose shares are mainly traded on UK trading venues in GPB. Read more
EFRAG endorsement advice on four amendments to IFRS
The European Financial Reporting Advisory Group (EFRAG) has published its endorsement advice on four amendments to IFRS and has submitted its advice to the European Commission. EFRAG assessed that the Amendments meets the technical endorsement criteria of the IAS Regulation and is conducive to the European public good. Read more
BIS: Andrew G Haldane: Is home working good for you?
For economists like me, it raises questions about the impact on productivity and output in the workplace. As arid as these concepts can sometimes sound, they are crucial for shaping how this crisis will affect incomes and living standards over the medium-term. Equally important are issues of well-being, not least given understandable concerns about how the virus and lockdown are affecting our mental health, said Andrew G Haldane, Executive Director and Chief Economist of the Bank of England, said at the Engaging Business Summit and Autumn Lecture, 14 October 2020. Read more |
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The European Banking Federation and fTLD Registry Services (fTLD) are partnering to educate the European banking sector about the cybersecurity role .BANK plays in protecting banks against Business Email Compromise (BEC) scams, phishing and spoofing attacks that lead to breaches, identity theft and financial fraud. fTLD administers the .BANK domain and the EBF has served on its Advisory Council since 2013. To learn more about the security benefits of .BANK, visit https://www.register.bank/ebf/ or contact fTLD at [email protected]. |
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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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