FROM THE MEDIA

Reuters: Mairead McGuinness calls for compromise on bank capital

European Union financial services chief Mairead McGuinness urged the bloc's lawmakers to agree on bank capital rules to keep the sector resilient as it emerges from the pandemic and markets fragment due to war in Ukraine. The EU is approving a law to implement capital requirements agreed at the global Basel Committee of banking regulators, but intends to deviate from some of the Basel norms for exposures to residential real estate and unrated companies, Reuters reports. Read more

Bloomberg: ECB sticking to quarter-point rate hikes after September

The European Central Bank (ECB) is expected to raise interest rates in quarter-point increments following a hike of twice that size planned for September, according to economists surveyed by Bloomberg. The ECB has pledged to lift borrowing costs for the first time in more than a decade in July, and respondents said it will increase them further at each of this year’s three remaining meetings. Read more

Finextra: FCA proposes tougher standards over branch closures

The Financial Conduct Authority is planning tougher curbs on bank branch closures, warning that some banks and building societies are not currently doing enough to properly understand the impact of shutdowns on local communities. As reported by Finextra, banks and building societies will need to assess the impact of changes to their services, for example shorter branch opening times. Read more

MAIN EVENTS

• EBA hearing on the consultation paper on ITS on NPL transaction data templates

• Council Working Party on Financial Services and the Banking Union (Financial Services)

• Council Financial Services Committee

• EIB Board of Directors meeting

• EIB European Microfinance Network Annual Conference

• Salzburg Global Finance Forum 2022

• ACAMS Europe Conference

• Paris Fintech Forum 'Debate & Dinner' event

• SBS 'SMEs setting the standard for sustainable products' event

• BdB 'Basel implementation in challenging times – How to find the right balance?' event

• EBF and Deloitte ‘The big picture: How CSOs can drive the banking sector’s sustainability efforts’ event

For a full-year overview of key financial regulation events: click here

COMING TODAY

The big picture: How CSOs can drive the banking sector's sustainability

FROM THE EBF MEMBERS

Finance Latvia: The regional investment bank provides 13 million loans for the construction of the largest building complex

According to Finance Latvia, JSC Regional Investment Bank has granted a loan of 13 million euros for the completion of the construction of the largest residential building complex in Latvia, according to the Regional Investment Bank. Read more (LV)

Finance Finland: Do women fund the sustainability transition?

Finance Finland's SuomiAreena debate on 12 July will talk about the opportunities for citizens to make an impact by investing in sustainable destinations. Finns have the opportunity to direct their cash flows to sites that promote sustainable development through their own investment decisions. Women and young people in particular have played an important role in financing the sustainability transition. Read more (FI)

AEB: Unacceptable inflation

Inflation has picked up globally. "The Recovery, Transformation and Resilience Plan financed with Next Generation funds can help us fight it. A robust financial sector will undoubtedly be essential to finance growth in difficult times," José Luis Martínez Campuzano, spokesman for the Spanish Banking Association (AEB) writes. Read more (ES)

FROM THE INSTITUTIONS

EBA: Guidelines on role of the AML/CFT compliance officer

The European Banking Authority (EBA) published its Guidelines specifying the role and responsibilities of the anti-money laundering and countering the financing of terrorism (AML/CFT) compliance officer and of the management body of credit or financial institutions. These Guidelines aim to ensure a common interpretation and adequate implementation of AML/CFT internal governance arrangements across the EU in line with the requirements of the EU Directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (ML/FT). Read more

ECB: International use of the euro remained stable in 2021

The European Central Bank (ECB) has published its annual review of the international role of the euro. The main finding is that the international role of the euro remained stable in 2021, with its share across various indicators of international currency use averaging around 19%. Looking ahead, the international role of the euro will be primarily supported by a deeper and more complete Economic and Monetary Union. Read more

EIOPA: Publication of the Annual Report 2021

The European Insurance and Occupational Pensions Authority (EIOPA) has published its Annual Report 2021, setting out its activities and achievements of the past year. In 2021, consumer protection remained a priority, and EIOPA responded to concerns surrounding some unit-linked products with a framework to address value for money issues. Read more

FROM THE EBF

EBF: Response to the Targeted Consultation on the functioning of the ESG ratings market in the European Union and on the Consideration of ESG factors in credit ratings.

The European Banking Federation (EBF) has responded to the European Commission's Targeted Consultation on the functioning of the ESG ratings market in the European Union and on the Consideration of ESG factors in credit ratings. 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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European Banking Federation