EBF MORNING BRIEF Tuesday 14 November 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
Bloomberg: Banks may be excluded from EU’s toughest ESG regulation
Banks have won a reprieve from Europe’s most consequential ESG regulation to date, as a wave of intense industry lobbying pays off. Spain has proposed that financial firms be excluded from the initial roll-out of the Corporate Sustainability Due Diligence Directive, according to a draft proposal seen by Bloomberg. Read more
Reuters: Euro zone should not ease bank buffers, ECB says
Eurozone economic growth will remain weak in the near term as services and the labor market weaken but nations in the bloc should not free discretionary bank buffers to ease the pain, European Central Bank (ECB) Vice President Luis de Guindos said. On interest rates, de Guindos said the ECB would have more information in December, Reuters writes. Read more
FT: New UK supervision rules ‘risk encouraging money-laundering’
UK government’s plans to overhaul the supervision of anti-money laundering rules would be counter-productive and damaging to the fight against dirty money, accounting bodies warn. A “one-size-fits-all approach” would result in a lack of expertise, the group representing 13 accounting bodies said as heard by the Financial Times (FT). Read more |
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FROM EBF MEMBERS
Finance Denmark: Strengthening the fight against digital fraudsters
Together with Finance Denmark and other relevant parties, the Danish government has launched a number of awareness initiatives on digital fraud. Finance Denmark will ask its members to carry out preventive measures for vulnerable customers. Read more (DK)
ABBL: Green ICT Report: where does the banking sector stand?
The integration of green ICT is a crucial issue for the financial sector. To assess the maturity of Luxembourg's banks, the Association of Bankers of Luxembourg (ABBL), jointly with Deloitte Luxembourg, conducted a survey. The results reveal that the sector is still in the early stages of integrating the concept of green ICT into its its path towards sustainability. The report therefore contains indications of the priorities and support needed. Read more
ABI: Eighth edition of the payment fair
The eighth edition of the Payments Exhibition by the Italian Banking Association (ABI) will take place from 22 to 24 November. Among the themes at the center of this edition, there is the impact of the latest market trends on the future of global payments and all the latest innovations in"smart", innovative and sustainable payment instruments. Read more (IT) |
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FROM THE INSTITUTIONS
ECB: Digital euro: what comes next?
The European Central Bank (ECB) is fully committed to continuing its engagement with all stakeholders involved in the digital euro project. The ultimate decision to issue a digital euro can only be taken at a later stage after the legislative framework for the digital euro has been adopted at the European level. Read more ESAs: Amended technical standards on the mapping of ECAIs The Joint Committee of the three European Supervisory Authorities (ESAs) published two amended Implementing Technical Standards (ITS) on the mapping of credit assessments of External Credit Assessment Institutions (ECAIs), in accordance with the Capital Requirements Regulation (CRR) and the Solvency II Directive (Solvency II). Read more ESMA: Global fire-drill The European Securities and Markets Authority (ESMA) is coordinating the participation of the majority of EU CCPs in a global fire-drill during the week starting 13 November 2023. The exercise taking place this week entails over 30 CCPs simultaneously running a simulation of their default management processes. Read more |
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FROM THE EBF
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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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