EBF MORNING BRIEF Tuesday 6 April 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 Bloomberg: Europe's halfway banking reforms have run out of time Scandals and failures will continue to plague the sector until it completes the unified regulation it promised more than a decade ago, including deposit insurance similar to that of the U.S., writes William R. Rhodes and Stuart Mackintosh. Read more FT: Central banks should turn green A revolution is under way in central banks: a green one, writes the FT's editorial board. Everywhere, monetary policymakers are pondering how to address the reality of global climate change. And it is âhowâ, not âifâ â hardly any central bankers think they can do their job if they ignore the issue. Read more CNBC Europe: Bankers talk of being sold out as London waits for its own Brexit deal with Brussels The U.K. and the EU agreed to continue talks and co-operation on financial services on March 26. Despite this, bankers who have spoken to CNBC feel the industry has continually been neglected throughout Brexit talks. Financial services make up 7% of the U.K.âs total output, and 10% of government tax receipts, but the industry was not a part of the âzero tariff-zero quota dealâ concluded on Dec. 24. Read more |
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MAIN EVENTS today For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS
Bankenverband: Most Greensill savers have their money back
At the beginning of March, Greensill Bank had been closed due to imminent over-indebtedness. According to the Association of German Banks (Bankenverband), around 2.7 of 3.1 billion euros in compensation have been paid out. Read more (DE) NVB: Banksâ support to businesses in times of corona increases to 44.3 billion euros Dutch banks continue to support businesses during the corona crisis. Since the Corona crisis, Dutch banks have offered additional credits to almost 52,000 businesses, with a combined value of 44.3 billion euros. This is displayed in the third Corona Monitor of this year, published by the Dutch Banking Association (NVB). Read more (NL) Finance Denmark: Significant decline in banks' profits in 2020 The corona crisis has led to a large decline in banks' profits in 2020. The decline is driven by write-downs on lending, while interest income continues to be depressed by low-interest rates. But the banks are still well equipped to help customers and support the Danish economy. This is shown by Finance Denmark's review of the 17 largest banks and mortgage banks' accounts for 2020. Read more (DK) |
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FROM THE INSTITUTIONS
FSB published Too-Big-To-Fail reforms final review
The Financial Stability Board (FSB) has published the final report on its evaluation of the effects of too-big-to-fail (TBTF) reforms for systemically important banks (SIBs). The evaluation examines the extent to which the reforms have reduced the systemic and moral hazard risks associated with SIBs, as well as their broader effects on the financial system. Read more ESMA: Anneli Tuominen to act as Interim Chair of ESMA ESMA has announced that current Vice-Chair Anneli Tuominen will act as Interim Chair until the next Chair takes office. This is effective from 1 April 2021. This follows Steven Maijoorâs second 5-year mandate as Chair coming to an end on 31 March 2021. ESMA has submitted the shortlisted candidates for the position of Chair to the Council and European Parliament. Read more
Basel Committee issues principles for operational resilience and risk
The Basel Committee on Banking Supervision has issued Principles for operational resilience, which aim to make banks better able to withstand, adapt to and recover from severe adverse events. Read more European Commission weekly schedule Find out more about the European Commission's engagement and activities for the upcoming week. Read more European Central Bank weekly schedule Find out more about the ECB's engagements and activities for the upcoming week. Read more
European Parliament weekly schedule Find out more about the Parliament's engagements and activities for the upcoming week. 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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