EBF MORNING BRIEF Tuesday 4 May 2021 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: Hands off the global banking rules, ECB's Enria tells lawmakers
European Union lawmakers should resist calls to postpone the implementation of the Basel III global rules for banks or to modify how risk is calculated, the European Central Bank’s top supervisor Andrea Enria said on Monday, Reuters reports. Read more
Financial Times: Europe’s largest banks plan joint attack on US payments giants More than 30 of Europe’s largest banks and credit card processors are trying to create a payments giant capable of shattering a US-dominated “oligopoly”. A Brussels-based venture, which currently employs 40 payment experts, has until September to draw up a blueprint for a pan-European payments service that can be used to pay online as well as in stores, to settle bills between individual consumers and to withdraw cash at ATMs, FT Olaf Storbeck writes. Read more (€)
LSE: Should central banks be worried about rising inflation? Inflation has risen in the Eurozone in recent months, but there is little consensus on whether Europe is heading for a persistent rise in inflation as countries emerge from the pandemic. Markus Demary and Michael HĂĽther write that central banks may nevertheless face a dilemma over whether to take action if inflation rises further, LSE reports. Read more |
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MAIN EVENTS today EBF Financing Growth Steering Group virtual meeting For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS
BdB: A strong Germany needs a strong Germany as a financial centre
With the Bundestag elections, 2021 is a trendsetting year for Germany that aspires to enhance its financial attractiveness, competitiveness and openness. That is why the Association of German Banks (BdB) stresses the need for increasing innovative capacity, facilitating investment, and improving the tax and legal framework to establish Germany as a financial centre. Read more (DE)
NVB: Tougher requirements on banks hindering sustainability
The stricter requirements on banks imposed by Basel IV are making it more difficult to finance agricultural businesses. As a result, investments in sustainability are at risk, warns Chris Buijink, Chairman of the Dutch Banking Association (NVB). Read more (NL)
Finans Norge: We need to talk about money
Financial services are being developed on a large scale around cryptocurrencies. As digital money can undergo the makeover of the times, Tom Staavi, Information Director at Finance Norway calls for politicians and citizens to discuss money and the monetary system. Read more (NO) |
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FROM THE INSTITUTIONS
ECB: Bridging the gaps
The impact of the pandemic varies across the euro area, says Luis de Guindos, Vice-President of the European Central Bank (ECB) in an interview with La Repubblica. That’s why NextGenerationEU is so important: more funds are earmarked for the countries hardest hit by the pandemic. Read more
ESA’s Joint Board of Appeal dismissed appeal against the EIOPA
The Joint Board of Appeal of the European Supervisory Authorities (ESAs) unanimously decided that the appeal against the European Insurance and Occupational Pensions Authority (EIOPA) is inadmissible. Central to this appeal is the question if, and to what extent the appellant can challenge EIOPA’s role and involvement in the Romanian BSR exercise under Article 60 of the EIOPA Regulation. Read more
BIS: Pablo Hernández de Cos: Financial stability and macroprudential policy - objectives, tools, and challenges
Pablo Hernández de Cos, Governor of the Bank of Spain and Chair of the Basel Committee on Banking Supervision discusses financial stability and macroprudential policy. The interaction between the financial sector and the real economy, especially as far as firms are concerned, is one of the key distinguishing characteristics that warrant and condition macroprudential policies. Read more |
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FROM THE EUROPEAN BANKING FEDERATION
European Commission’s DORA proposal (2020): EBF position
The EBF welcomes the European Commission’s aim to enhance operational resilience in Europe. The financial industry’s own considerations will benefit from more harmonized ICT-related rules at the European level, aligned with the existing supervisory framework today. 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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