| EBF MORNING BRIEF Tuesday 29 March 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: EU advisers propose expansion of sustainable finance rules European Commission advisers proposed an expansion of the bloc's sustainable finance rules. Advisers proposed expanding the scope of the taxonomy using a traffic light system to include an intermediate category for activities that were not yet sustainable, but which could become so over time. According to Reuters, by broadening the role of the taxonomy, companies would be better able to access finance to fund their transition, while investors would get more transparency about what they were funding at a portfolio level. Read more
EURACTIV: No abnormalities in EU carbon market, says watchdog
There are no major abnormalities in the European Union’s market for carbon emissions, but tighter controls could improve transparency and monitoring, a report by the European Securities and Markets Authority (ESMA) found. The report also highlights that long positions in carbon derivatives are mainly held by non-financial entities for hedging purposes while short positions are mainly held by banks and investment firms, which provide liquidity and carbon financing, EURACTIV reports. Read more
Finextra: BoE joins MIT CBDC roster
The Bank of England (BoE) has teamed up with the Massachusetts Institute of Technology (MIT) on a twelve-month research project on the potential technical challenges, trade-offs, opportunities, and risks of designing a central bank's digital currencies (CBDC). As reported by Finextra, the work is focused on exploratory technology research as "no decision has been made on whether to introduce a CBDC in the UK", as pointed out by BoE. Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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REGISTRATION OPEN "Demystifying AI for Anti-Money Laundering" |
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 | The European Banking Federation (EBF) and SAS have partnered to help banks fight financial crime with innovative technologies and shared solutions. This collaboration resulted in the launch of a virtual AML Masterclass series to spotlight how artificial intelligence (AI) and machine learning can boost the effectiveness of banks’ efforts in fighting financial crime. Coming on Thursday 31 March, the inaugural session will examine how AI and machine learning technology for AML works. It will also explore shared transaction monitoring facilities as an opportunity for enhancing AML transaction monitoring and how it fits into the current regulatory framework. |
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FROM THE EBF MEMBERS
AEB: European funds and digitization
The efficient use of Next Generation EU (NGEU) funds is key to recovering some certainty about the future in such a complex context, says the Spanish Banking Association (AEB). The future is one that is digital and sustainable. AEB highlights the importance of working together to make this possible, with public-private cooperation as the backbone of action, essential to avoiding wasting essential resources for Spain. Read more (ES) Finance Latvia: Investing in the development of sustainable forestry SEB Investment Management, which manages tier 2 and tier 3 pension savings, will invest over €30 million in the new SG Capital Partners Sustainable Forest and Land Fund. According to Finance Latvia, the fund is initially expected to comply with Article 8 of the EU Regulation on the Disclosure of Sustainability Disclosures in the Financial Services Sector, and will, in the long run, further strengthen the fund's focus on sustainability. Read more (LT) HUB: Lecture on the introduction of the euro The Croatian Association of Banks (HUB) organized an informative and educational lecture for students on the introduction of the euro in Croatia in cooperation with the student association Financial Club from the Faculty of Economics in Zagreb. The lecture was given by Hrvoje Dolenec, a member of the Club of Chief Economists at HUB and the Chief Economist of Zagrebačka banka, and was organized as one in a series of HUB activities marking the European Money Week. Read more (HR) |
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FROM THE INSTITUTIONS ECB: ECB clarifies common approach to policy choices offered by European banking rules The European Central Bank (ECB) today updated its policies outlining how it exercises options and discretions when supervising banks, following a public consultation. Clarifying how the ECB exercises the options and discretions introduced by recent changes to EU banking rules ensures consistent and transparent implementation of the rules applied to banks. Read more ESMA: Final report on the EU carbon market The European Securities and Markets Authority (ESMA) has published its Final Report on the European Union Carbon Market (EU carbon market). The Report’s analysis did not find any current major deficiencies in the functioning of the EU carbon market based on the data available. However, ESMA’s analysis of the market has led it to put forward a number of policy recommendations to improve market transparency and monitoring. Read more EIOPA: Calling for a Europe-wide Insurance Guarantee Scheme The European Insurance and Occupational Pensions Authority (EIOPA) Chairperson Petra Hielkema published an interview in which she discussed the Solvency III review, insurance stress test, cyber risks, data protection, and insurance guarantee scheme. Read more |
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FROM THE EBF
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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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