| EBF MORNING BRIEF Tuesday 28 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
Reuters: ECB shifts back timing of policy decisions, press conferences
The European Central Bank (ECB) has shifted the timing of its policy announcements and press conferences, unveiling its decisions later and shortening the lag between the two events, according to Reuters. Starting with the July 21 policy meeting, decisions will be announced at 14:15 Frankfurt time while ECB President Christine Lagarde's news conference will start at 14:45 Frankfurt time. Read more
Bloomberg: Investors want EU banks to go further on Board diversity
The boardrooms of European financial services companies are failing to meet investor expectations in terms of their gender balance and the technology and sustainability expertise they possess. As reported by Bloomberg, 44% of investors said gender diversity played a part in their decision to buy a company’s shares, according to the poll of 300 money managers by EY. About half said sustainability experience was important and 54% said boards should have fintech experience. Read more
The International Banker: Western banks willing to accept the short-term pain of the Russian exodus
Eurozone banks had the most exposure to Russia just prior to the invasion. And it now seems clear that they are trying to rid themselves of this business. But while the speed at which banks are seeking to leave Russia can be deemed commendable by Western authorities, it is highly likely that a complete exit will either take years to accomplish or will not be achieved at all, the International Banker writes in an opinion piece. 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
Finance Denmark: New CFO
Finance Denmark has hired Anders Schou as its new CFO. As CFO, Anders Schou will be responsible for a number of subject areas such as capital requirements, accounting rules, compliance, securities and the money market. Read more (DK)
Finance Finland: Consumer uncertainty increased
More than half of Finns have either abandoned their investment plans or extended their reflection period due to inflation and rising interest rates. This can be seen in a survey commissioned by Finance Finland. Due to the growing uncertainty for consumers, the ability of the financial sector to finance economic growth and employment should not be hampered, for example by tightening banks' capital requirements. Read more (FI)
NVB: Feedback on the Corporate Sustainability Due Diligence (CSDD)
The Dutch Banking Association (NVB) published its feedback on the European Commission's proposal on Corporate Sustainability Due Diligence (CSDD). The NVB is in favor of introducing a 'due diligence obligation'. However, to meet the objectives of the CSDD guideline, there must be better alignment with the OECD guidelines. Read more (NL) |
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FROM THE INSTITUTIONS
ESMA: Results of its Call for Evidence on ESG ratings
The European Securities and Markets Authority (ESMA) publishes a letter to the European Commission (EC) providing its findings from the Call for Evidence to gather information on the market structure for ESG rating providers in the EU. The feedback received is indicative of an immature but growing market which, following several years of consolidation, has seen the emergence of a small number of large non-EU headquartered providers. Read more
SRB: Annual Report for 2021
The Single Resolution Board (SRB) published its Annual Report for 2021. The SRB focused on areas such as implementing the BRRD2, continuing to build the SRF and the continued monitoring of banks, given the context of the pandemic. The SRB also worked on crisis readiness and fine-tuning existing resolution plans. Read more
BIS: High inflation calls for timely and decisive central bank action
In its flagship economic report, the Bank for International Settlements (BIS) said the global economy risks entering a new era of high inflation. The priority for central banks is to restore low and stable inflation. In doing so, they should seek to minimize the hit to economic activity, thereby safeguarding financial stability. Read more |
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FROM THE EBF 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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