EBF MORNING BRIEF Tuesday 6 June 2023 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
Finextra: Central banks successfully test 'quantum resistant' communications channel
A secure communication channel to protect financial data against future threats from quantum computers has been successfully established by the BIS Innovation Hub Eurosystem Centre, in concert with Banque de France and Deutsche Bundesbank. The BIS says the experiment acts as a blueprint for the financial system to build a complete chain of trust for central bank applications in the post-quantum world, Finextra reports. Read more
FT: BoE looks to broaden reform of deposit guarantee scheme
The Bank of England (BoE) is proposing to broaden reforms of its deposit guarantee scheme to better protect depositors in failing smaller banks after March’s collapse of Silicon Valley Bank’s UK arm highlighted significant weaknesses in the existing regime, according to people familiar with the situation heard by the Financial Times (FT). Read more
Bloomberg: ECB’s Vujcic says inflation risks are still tilted to the upside
European Central Bank (ECB) Governing Council member Boris Vujcic said the surge in consumer prices is only slowly abating, and the dangers of a resurgence exceed those of a more rapid retreat. As reported by Bloomberg, Vujcic spoke two weeks before the ECB next sets borrowing costs, with investors and economists widely expecting another quarter-point increase in the deposit rate to 3.5%. Read more |
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MAIN EVENTS Money 20/20 Europe event (Alexandra Maniati, EBF Senior Director of Innovation & Cybersecurity speaking) For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
FBF: Retail Investment Strategy The European Commission published the Retail Investment Strategy (RIS) aimed at increasing the participation of citizens in the capital markets. The French Banking Federation (FBF) shares the ambitions of this strategy but expresses great concern about the text finally proposed by the Commission. Read more (FR)
Finance Norway: New Financial Supervision Act
Finance Norway submitted its consultation on the proposal for a new financial supervision act. The consultation serves as a comprehensive and thorough report highlighting how Finance Norway supports the main features but disagrees on certain points. Read more (NO)
SBA: OECD minimum tax and costume parties
With the implementation of the OECD minimum tax, global tax competition is facing a new era. From January 1, 2024, the same tax rate will apply to large, globally active companies worldwide. What does this mean for Switzerland? The Swiss Bankers Association (SBA) answers. Read more (FR) |
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FROM THE INSTITUTIONS EBA: Fnal draft technical standards specifying the data collection for the benchmarking exercise in 2024 The European Banking Authority (EBA) published its final draft Implementing Technical Standards (ITS) on the benchmarking of credit risk, market risk and IFRS9 models for the 2024 exercise. Read more
EIOPA: Monthly update of the symmetric adjustment of the equity capital charge for Solvency II
The European Insurance and Occupational Pensions Authority (EIOPA) has published technical information on the symmetric adjustment of the equity capital charge for Solvency II with reference to the end of May 2023. Read more
BIS: Quantum-proofing the financial system
Project Leap was launched by the Bank for International Settlements (BIS) Innovation Hub's Eurosystem Centre together with the Bank of France and Deutsche Bundesbank, the project partners within the Eurosystem, to prepare central banks and the global financial system for a transition towards quantum-resistant encryption. Read more |
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FROM THE EBF
New EBF Vacancies! Work with us! Visit our Vacancies page to learn more about the opening positions at the EBF. 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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This newsletter is published by the EBF Mediacentre.
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