EBF MORNING BRIEF Tuesday 30 January 2024 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
Bloomberg: Banks set to lose reprieve from EU’s toughest ESG rule
The European Parliament and the European Council are moving toward an agreement that banks, asset managers, and insurers should be viewed in the same way as other companies when it comes to ensuring that their value chains aren’t subject to environmental or human rights violations, according to a document seen by Bloomberg. Read more
Reuters: ECB lowers bar for lending to countries outside the EU
According to Reuters, the European Central Bank (ECB) said it would lower the bar for lending to central banks from outside the European Union in times of crisis. The changes should make it easier for smaller economies outside the EU's borders to borrow euros from the ECB if they are under financial stress. Read more S&P Global Market Intelligence: Spanish banks' 2023 tax bill forecast to climb almost a quarter to €12B Spain's largest lenders will pay almost a quarter more into state coffers for 2023 as the country's recently introduced bank tax and higher revenues boost government takings. The country's six largest lenders are expected to pay more than €12 billion in aggregate tax for 2023, an increase of 22.9% from 2022, S&P Global Market Intelligence reports. Read more |
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FROM EBF MEMBERS
BdB: 3 questions, 3 answers: Macroprudential instruments
Silvia Schütte, a member of the Banking Supervision and Accounting group of the Association of German Banks (BdB), answered three key questions about macroprudential supervision. Read more (DE)
AEB: The best solvency test
According to the latest data from the Bank of Spain, Spanish banks' profitability increased to 12.3% in Q3 2023. As the Spanish Banking Association (AEB) points out, this ratio is above the European average, but below that obtained by other banking systems such as Italy, Portugal, and the Netherlands. Read more (ES)
SFF: Low profitability of the banking system and burdensome taxes
The special tax on banks was imposed back in 2010 and it is said to have driven to a low profitability of the Icelandic banking sector in recent years. Therefore, Finance Iceland (SFF) calls for actions to lower bank taxes in Iceland to match what is happening in Iceland's neighboring countries. Read more (IS) |
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FROM THE INSTITUTIONS
ECB: Learning from crises: New framework for euro liquidity lines
The European Central Bank (ECB) can lend euros to non-euro area central banks to reduce the risk of financial stress spilling over into the euro area. ECB Executive Board members Piero Cipollone, Philip Lane and Isabel Schnabel explain how these liquidity lines have been made more effective and agile. Read more
EBA: Classification methodologies for exposures to ESG risks
The European Banking Authority (EBA) launched an industry survey to receive input from credit institutions on their methodologies to classify exposures to environmental, social, and governance (ESG) risks, as well as on the accessibility and availability of ESG data for this purpose. The deadline to respond to the industry survey is 29 March 2024. Read more
ESMA: Reverse solicitation and classification of crypto assets as financial instruments under MiCA
The European Securities and Markets Authority (ESMA) published two consultation papers on guidelines under Markets in Crypto Assets Regulation (MiCA), one on reverse solicitation and one on the classification of crypto-assets as financial instruments. ESMA invites comments from stakeholders by 29 April 2024. 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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