| EBF MORNING BRIEF Tuesday 9 February 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
WSJ: Flood of cash pushes borrowing costs to unusual lows in Europe Too much money chasing too few assets is creating some strange phenomena at the heart of European financial markets, writes WSJ. One stark example: Some companies and most banks can now borrow at rates that are lower—and further below zero—than the rate set by the European Central Bank. Read more Bloomberg: Nordea hints patience running out over dividend regime Two years ago, Nordea Bank Abp packed up and moved its headquarters to the euro area in search of a friendlier regulatory setup. But the decision has left shareholders worse off in one key area, Bloomberg reports. Read more Euromoney: Doubts grow over banks’ optimistic forecasts Banks are guiding to lower cost of risk in 2021, but government support and forbearance make the true state of their loan books hard to discern, writes Peter Lee, editorial director of Euromoney. 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
Febelfin: CEO Karel Baert "Banks will not be able to save everyone" In an interview with Belgian newspaper La Libre Eco, Febelfin CEO Karel Baert says: "We have always been consistent in our commitments. In 2020, we twice extended the moratorium on credits. Today, it is still being extended, from the end of March until the end of June". Read more (FR) FBF: Public-private cooperation develops a new app to help households The French Banking Federation (FBF), together with several major public and private actors in financial inclusion, developed the app "PiloteDépenses" to help households in financial difficulty or suffering a sudden loss of income to control their spending. Read more (FR) Spanish Banking Association: A global crisis and recovery José Luis Martínez Campuzano, Spokesperson of the Spanish Banking Association (AEB), talks in a latest blogpost about the global economic deterioration and why it is essential that recovery measures do not generate new risks. Read more (ES) |
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FROM THE INSTITUTIONS
ECB to publish results of the Survey of Monetary Analysts
The European Central Bank (ECB) announced that it will begin publishing aggregate results of its Survey of Monetary Analysts (SMA) in June 2021. The survey, an ECB staff-level exercise, collects information on market participants’ expectations about the future evolution of key monetary policy parameters, financial market variables and the economy. The survey runs eight times a year and is aligned with the six-week schedule of the monetary policy meetings of the Governing Council. Read more
European Parliament plenary debate on the ECB Annual Report
The ECB has published Christine Lagarde’s speech. Lagarde welcomed close dialogue between the EU institutions and noted that the ECBs monetary policy response to the Covid-19 crisis was centred around two key pillars: (1) the pandemic emergency purchase programme (PEPP) and (2) targeted longer-term refinancing operations (TLTROs).
The ECB chair highlighted the ECBs pledge to preserve favourable financing conditions.
She called for Member State fiscal support to be targeted and focused on the measures that are most conducive to economic growth. Read more
European Parliament Think Tank: Liability of online platforms
The European Parliament Think Tank has published a study titled Liability of online platforms. According to the study, given the central role that online platforms (OPs) play in the digital economy, questions arise about their responsibility in relation to illegal/harmful content or products hosted in the frame of their operation. Against this background, this study reviews the main legal/regulatory challenges associated with OP operations and analyses the incentives for OPs, their users and third parties to detect and remove illegal/harmful and dangerous material, content and/or products. Read more |
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FROM THE EUROPEAN BANKING FEDERATION
ESG risks for credit institutions and investment firms: EBF response
EBF has responded to the EBA’s consultation on incorporating ESG risks into the governance, risk management and supervision of credit institutions and investment firms. 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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