| EBF MORNING BRIEF Wednesday 20 July 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.
Recommend the EBF newsletters to a colleague. Click here to sign up!
|
|
|
On the occasion of Belgian National Day,
the EBF Morning Brief will take a short break tomorrow!
We will be back on Friday, 22nd of July to bring the main stories and events for the upcoming week straight to your mailbox!
|
|
FROM THE MEDIA
FT: ECB to discuss ending negative rates with 50 basis point move
As reported by the Financial Times (FT), the European Central Bank (ECB) will this week broach raising interest rates by half a percentage point, as it seeks to contend with record inflation and big increases in borrowing costs. As the ECB prepares to raise borrowing costs, banks have already been reducing the supply of loans to eurozone businesses and households, particularly in Italy and France, in a reflection of reduced risk appetite and higher funding costs, according to the ECB’s quarterly survey of lenders. Read more
Reuters: Eurozone banks to keep tightening access to credit
Euro zone banks tightened access to credit in the second quarter and will continue to tighten lending standards during the current quarter because their tolerance for risk has declined, a European Central Bank (ECB) survey showed. In the current quarter, banks expect a further net tightening of credit standards for all lending to households while a "strong" net decrease in housing loan demand is also likely, Reuters writes. Read more
Finextra: Starling abandons plans to launch in Ireland
UK challenger bank Starling has decided not to pursue an Irish banking licence as it changes its plans for international expansion. According to Finextra, while it is unclear what the move means for Starling's growth plans, it will be seen as a blow for Ireland's retail banking market given that it is about to see the departure of two of its five players. Read more |
|
MAIN EVENTS
Wednesday 20 July
Thursday 21 July Friday 22 July
For a full-year overview of key financial regulation events: click here
|
|
FROM THE EBF MEMBERS
Febelfin: MiFID II and IDD take into account client preferences
On August 2, the sustainability rules of the MiFID and IDD Directives will come into force. Financial institutions will then be required to inquire about customers' specific sustainability preferences. This approach is in line with the objectives of the Green Deal and the transition towards a sustainable and more circular economy, says Febelfin. Read more (FR)
UK Finance and AFME statement on Secondary Capital Raising Review
Commenting on the recommendations of the Secondary Capital Raising Review, UK Finance and AFME have issued a joint statement. "We particularly support the proposed changes to allow issuers to raise funds on a soft pre-emptive basis, noting that our members helped issuers raise substantial amounts of much-needed capital through placings when this was allowed in 2020," they wrote. Read more
Finance Latvia: Fraud cases at four major banks
Taking into account the current trends, the remote availability of services and the more active use of digital tools will expand rapidly and significantly. At the same time, the activities of fraudsters in the digital environment are developing, the 2021 Fraud statistics in the four largest banks by Finance Latvia show. Read more (LV) |
|
FROM THE INSTITUTIONS
ECB: July 2022 bank lending survey results
According to the bank lending survey by the European Central Bank (ECB), banks tightened their credit standards for loans to firms and households amid high uncertainty and monetary policy normalization. Firms’ demand for loans continued to increase, driven mainly by financing needs for working capital. Read more
ESMA: Annual peer Review of EU CCP supervision
The European Securities and Markets Authority (ESMA) has published its annual peer review report on the supervision of EU Central Counterparties (CCPs) by National Competent Authorities (NCAs). The Peer Review measured the effectiveness of NCA supervisory practices in assessing CCP compliance with EMIR’s requirements on business continuity, in particular in remote access mode. Read more
EC: EU-China: A stable global economy is a shared responsibility
Executive Vice-President Valdis Dombrovskis and Vice-Premier Liu He chaired the 9th EU-China High-Level Economic and Trade Dialogue (HED). Commissioner Mairead McGuinness also participated in the exchanges. "I am keen on pursuing cooperation in financial regulatory matters, including in green finance, which is crucial for both economies to support efforts to reach our climate targets. I am pleased that we were able to discuss today concrete solutions to facilitate the operations of European financial institutions in China,” McGuinness said. Read more |
|
FROM THE EBF
EBF response to European Commission’s Targeted Consultation on the review of the revised Payment Services Directive (PSD2)
The EBF has responded to the European Commission’s targeted consultation on PSD2. The EBF response notes that overall, PSD2 has contributed to increasing levels of innovation, competition and security, consistent with the objectives of the Directive. Elements such as Strong Customer Authentication (SCA) measures and regulating Third Party Provider (TPP) access to payment accounts are welcomed as overall positive developments in the payments landscape. Read more
EBF/Enerdata joint report on the consequences of the war in Ukraine
The EBF and Enerdata have published a joint report on the consequences of the war in Ukraine. This data-driven report explores the short-term impact and simulates the long-term consequences of the war on European energy and climate policies. Read more
New EBF Vacancies! Work with us!
Visit our Vacancies page to learn more about the opening positions at the EBF. Read more |
|
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 |
|
|
This newsletter is published by the EBF Mediacentre. If you do not want to receive the EBF Morning Brief click here.
For questions or suggestions contact [email protected]
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium |
|
|
|
