EBF MORNING BRIEF Wednesday 1 March 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 need bigger low-carbon pivot to avert climate crisis Banks have a long way to go on climate change. That's the takeaway from a Bloomberg report that looks at the level of financing that banks are pouring into the energy transition. The study examined the loans, bonds, equity, and project finance that were underwritten for the energy sector and other relevant issuers. Read more
FT: Santander plans to return half of profits to shareholders
As reported by the Financial Times (FT), Santander announced a new three-year strategy to pay half its profits to investors over the next three years. “Today we set out our plans to enter a new phase of profitable growth, building a digital bank with branches, powered by the Santander network,” said executive chair Ana Botín. Read more
Finextra: BoE says digital pound "more likely than not"
Bank of England (BoE) deputy governor Jon Cunlifffe told a committee of MPs that a digital pound has a better than 50/50 chance of coming to fruition, Finextra reports. Cunliffe said that the creation of a digital pound would open up new frontiers for payments innovation, citing possibilities arising from programmable money and micropayments. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
Finance Finland: ECB is studying a Digital Euro but would it be useful?
The European Central Bank (ECB) is investigating the prospect of launching a digital euro. Finance Finland fails to see what additional value or innovation a digital euro would bring to the already functional and efficient monetary system. Read more
UK Finance: Complying with DORA: Steps for financial institutions
The Digital Operational Resilience Act (DORA) is an EU regulation that aims to strengthen the operational resilience of the financial sector and ensure continuity of critical services. In line with its recommendations, UK Finance recommends some key steps to take. Read more
BPFI: Mortgage Approvals – January 2023
Banking & Payments Federation Ireland (BPFI) published the latest figures from the Mortgage Approvals Report for January 2023. Brian Hayes, BPFI Chief Executive stated: “Our latest mortgage figures show that in January 2023 the value of approvals for property purchase increased by 10% year-on-year to €810 million". Read more |
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FROM THE INSTITUTIONS
ECB: How the economy is developing
European Central Bank (ECB) Chief Economist Philip R. Lane assesses the latest economic developments and discusses the role of different factors in bringing inflation back to 2%, in an interview with Reuters. Read more
EIOPA: Insurers' green investments
To meet the EU’s climate targets and help speed up society’s transition to a net-zero economy, investments in sustainable activities are key. Based on the EU Taxonomy, the European Insurance and Occupational Pensions Authority (EIOPA) analyzed how much of EEA insurers’ investments can be considered environmentally sustainable. Read more
BIS: Regulatory foundations of competitiveness and growth
"The Parliament is debating a Financial Services and Markets Bill that will redefine the PRA's powers and responsibilities. This will require us to act when we can to facilitate the UK economy's international competitiveness and its growth over the medium to long term," Victoria Saporta, Executive Director for Prudential Policy of the Bank of England says in a speech published by the Bank for International Settlements (BIS). 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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