| EBF MORNING BRIEF Tuesday 5 April 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 widens market access for US derivatives clearers and exchanges The EU has widened access for US exchanges and clearinghouses to investors in the bloc, Reuters reports. "These decisions are in the interest of the EU. We want our capital markets to be better integrated with other international markets," EU financial services commissioner Mairead McGuinness said. Read more
CoinDesk: Europe's CBDC designers wrestle with privacy issues
Privacy appears to be dropping down on the priority list of those designing a new digital euro, and experts are warning that the design choices being made could make privacy harder to achieve. The European Central Bank (ECB) will indeed likely opt for a centralized solution for digital euro, raising questions about state snooping, CoinDesk writes. Read more
Bloomberg: BoE’s Bailey says crypto is the ‘new front line’ for scams
Cryptocurrencies are the new “front line” in criminal scams that regulators are trying to prevent, Bank of England (BoE) Governor Andrew Bailey said. As reported by Bloomberg, the underlying technology of crypto seems to be contributing a good deal of innovation to financial services, but it also created an “opportunity for the downright criminal.” Bailey called on banks, tech companies, and governments to work with the BoE to tackle scams against consumers, which he acknowledged was a job that “will never be done.” Read more |
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MAIN EVENTS -
Economic and Financial Affairs Council -
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For a full-year overview of key financial regulation events: click here
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FROM THE EBF MEMBERS
BdB: Reform of private deposit insurance
The delegates' meeting of the Association of German Banks (BdB) approved the board's proposal to reform the voluntary deposit insurance system. This means that the reform can come into force on January 1, 2023. With the comprehensive reform, the private banks are reorganizing deposit insurance to make the protection system efficient in the long term and to concentrate on protecting savers and companies. Read more (DE)
Finance Norway: Urgent to connect to FREG
The Modernized Population Register (FREG) has been available to all financial institutions since 2020. The new Population Register provides more available information, easier access, and new standardized services. According to Finance Norway, all financial institutions must connect to the modernized population register as soon as possible. Read more (NO)
CBA: Household deposits in banks continued to grow in February
The Czech banking sector still has a very low share of non-performing loans and a huge capital cushion, the Czech Banking Association (CBA) comments on the development of deposits, loans, and non-performing loans in February 2022 according to CNB statistics. Read more (CZ) |
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FROM THE INSTITUTIONS ESMA seeks experts in sustainable finance for its new CWG The European Securities and Markets Authority (ESMA) is seeking candidates for its newly-established Consultative Working Group (CWG) of the Coordination Network on Sustainability (CNS). The CWG, announced in ESMA’s Sustainable Finance Roadmap 2022-24, will provide technical input into various areas of sustainable finance under the CNS. Therefore, ESMA is seeking experts from a variety of backgrounds. Read more
EIOPA: Launch climate stress test for the occupational pension sector
The European Insurance and Occupational Pensions Authority (EIOPA) has launched its first climate stress test to gain insights into the effects of environmental risks on the European occupational pension sector. Sustainability and the management of environmental risks have become key considerations for long-term investors and in particular for European institutions for occupational retirement provision (IORPs). Read more
ECB: Managing policy trade-offs
Monetary policy normalization remains appropriate as inflation is likely to prove more persistent, says European Central Bank (ECB) Executive Board member Isabel Schnabel. An appropriate monetary-fiscal policy mix will protect people’s purchasing power and sustain the recovery. Read more |
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FROM THE EBF
EBF Vacancies: Work with us!
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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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