EBF MORNING BRIEF Tuesday 8 November 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
Bloomberg: EU set to water down plan for new bank capital standards
EU countries are close to agreeing on a watered-down version of new capital rules for banks after the industry warned that a strict approach would risk choking off the supply of credit to the bloc’s economies. The most recent draft proposal for implementing Basel III includes several changes to an earlier version from the EU’s executive arm and could be approved on Tuesday, according to people familiar with the matter heard by Bloomberg. Read more
CoinDesk: CBDCs may need global regulation, EU Commissioner says
European Union Commissioner Paolo Gentiloni says a series of international agreements may be needed to stop state-backed digital currencies from infringing on countries' sovereignty. EU policymakers have also raised the risk that easy access to a digital euro from overseas could undermine the currency, CoinDesk reports. Read more
Reuters: ECB scrutinizes banks' payout plans as outlook sours
According to Reuters, the European Central Bank (ECB) is carefully scrutinizing euro zone banks' payout plans as the outlook for the bloc's economy sours and markets wobble, the ECB's top supervisor Andrea Enria said. With the eurozone facing an energy crisis and rising borrowing costs, the ECB has told banks to factor in the risk of a recession when estimating how much capital they will be able to pay out in dividends, buybacks and bonuses. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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GLOBAL BANKING SUMMIT 2022 29 November – 1 December 2022 (ONLINE AND IN PERSON) |
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 | Global banking is at a crossroads. Financial institutions hoping for a return to a post-pandemic norm are adjusting to a new geopolitical setting, spearheaded by sanctions in the fallout of the war in Ukraine. How will banks navigate the highest inflation seen for decades? What are banks doing to reach their climate targets and digital innovation?
Find out the answer to these questions and more at the Global Banking Summit 2022 by the Financial Times dedicated to 'Sustaining a Growth Mindset: Innovating for Consumer Needs' |
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FROM EBF MEMBERS AEB: Tips to avoid falling for the phishing scam The Spanish Banking Association (AEB) together with CECA, Unacc, and ASNEF associations launched the third spot of the cybersecurity campaign to reinforce the digital security of all users. In this short video, they focus on phishing and provide tips to avoid becoming a victim. Read more (ES)
FBF: Latest figures on personal loans
At the end of September, loans to individuals reached 1,500 billion euros, up 5.9% over one year and still driven by the dynamism of housing loans. Outstanding consumer loans amounted to 200 billion euros, the French Banking Federation (FBF) adds. Read more (FR)
Finance Finland: More than 70 percent of politicians do not support national separate taxation of the financial sector
In Finland, national taxes aimed at financial companies should not be introduced because they could weaken the industry's competitiveness and raise customers' costs. This is what emerges from a survey of political influencers by Finance Finland. Read more (FI) |
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FROM THE INSTITUTIONS ECB: Keeping climate change on the agenda "To keep prices stable, we need the full picture of all the factors affecting inflation," writes European Central Bank (ECB) President Christine Lagarde on a blog. Climate change is one of these factors, so the ECB must ensure that its monetary policy accounts for its impact on the economy. Read more
EBA: Operationalisation of intermediate EU parent undertakings of third-country groups
The European Banking Authority published an Opinion to clarify the framework applicable to the set-up and operationalization of intermediate EU parent undertakings (IPUs) by third-country groups (TCGs) operating in the EU. This Opinion, which is addressed to the competent and resolution authorities, aims to ensure a harmonized and effective application throughout the Union of the requirement introduced by Article 21b of the revised Capital Requirements Directive (CRD5). Read more
SRB: Bi-annual reporting note to Eurogroup
The Single Resolution Board (SRB) published its bi-annual reporting note to the Eurogroup. The note is aimed at reporting on the resolvability progress of SRB banks, the build-up of the Single Resolution Fund (SRF), and the lessons learned from recent cases, for the benefit of the upcoming crisis management and deposits insurance (CMDI) discussions. Read more |
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FROM THE EBF
Joint Trade association letter on the EU securitisation market
Securitization can provide significant support to the economy, but targeted measures are needed to unlock its potential. This is the position expressed by the European Banking Federation, Association for Financial Markets (AFME), Prime Collateralised Securities (PCS), Leaseurope and Eurofinas, the International Association of Credit Porfolio Managers (IACPM), Paris EUROPLACE, the Dutch Securitisation Association (DSA), and True Sale International (TSI) in a joint letter. Read more
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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