EBF MORNING BRIEF Wednesday 20 October 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
Reuters: No reason for the ECB to increase rates by end of next year, Villeroy says
There is no reason for the European Central Bank (ECB) to increase rates between now and the end of 2022 as euro zone inflation is expected to fall back below the ECB's 2% target, Bank of France governor Francois Villeroy de Galhau said. Reuters also reports that he played down concerns that problems at China Evergrande Group, which faces a liquidity crisis, could have a broader impact. Read more
FT: France tests crypto assets in series of government bond deals
According to the Financial Times (FT), France has used digital assets and blockchain technology in a series of bond transactions, marking one of the most significant trials to date of cryptocurrencies in a leading established market. A consortium of Franceâs biggest financial market participants, including BNP Paribas, CrĂ©dit Agricole CIB, HSBC, and SociĂ©tĂ© GĂ©nĂ©rale utilized a digital currency issued by the Banque de France as part of the 10-month experiment in the countryâs debt market. Read more
Bloomberg: Banks have key role in combating climate change
Jes Staley, Chief Executive Officer at Barclays PLC, discusses the UKâs role in climate action, green financing and the biggest challenges for the bank. In speaking with Bloomberg, he also spoke about how inflation could impact the financial market. Watch here |
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MAIN EVENTS Council Working Party on Tax Questions (Indirect Taxation) 4th SSM Banks CIO/CTO Roundtable Virtual meeting
For a full-year overview of key financial regulation events: click here
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REGISTRATION OPEN! EBF DIGITAL THURSDAYS 2021 |
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| | Taking place within the European Cybersecurity Month, the first EBF Digital Thursday showcases the importance of cyber threat information sharing and other private sector initiatives, including raising awareness on cyber risks. We are happy to announce that Stevie Wilson, CEO at Cyber Defence Alliance and Giorgio CusmĂ Lorenzo, Group Senior Director Cybersecurity, Business continuity strategy and Group governance at Intesa Sanpaolo will take the stage on 28 October 2021 for an exciting fireside chat on "Joining forces for better cybersecurity" moderated by SĂ©bastien de Brouwer, EBF Chief Policy Officer. Register HERE |
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FROM THE EBF MEMBERS
UK Finance: Dreams of a frictionless tomorrow: Securing the digital world through phone-centric identity
Kieron Dalton, VP & UK Country Manager at Prove penned a blog for UK Finance discussing how securing the digital world through phone-centric technology helps protect against fraud and improves user experience. Read more
Finance Denmark: Home purchase loans reach new heights
Home buyers set a new record in the third quarter. Historically, a lot of mortgages were granted for the purchase of houses and condominiums, while loans for holiday homes fell sharply. At the same time, homebuyers' interest in variable-rate loans is rising. This is shown by the latest figures from Finance Denmark. Read more (DK)
CBA: Interest rates rise, interest in mortgages is not waning
Despite gradually rising interest rates, interest in mortgages still persists. In September, banks and building societies provided new mortgage loans in the amount of more than CZK 29 billion. This follows from the data of the Hypomonitor, which the Czech Banking Association (CBA) is preparing in cooperation with member banks. Read more (CZ) |
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FROM THE INSTITUTIONS
EBA publishes final draft regulatory technical standards on disclosure of investment policy by investment firms
The European Banking Authority (EBA) published new regulatory technical standards (RTS) on disclosure of investment policy by investment firms. The final draft RTS put forward comparable disclosures that should help stakeholders understand investment firmsâ influence over the companies in which they hold voting rights and the impact of investment firmsâ policies on aspects such as the governance or management of those companies. Read more
ECB: International aspects of digital currencies
Decisions about central bank digital currencies require a careful assessment of their international implications, says European Central Bank (ECB) Executive Board member Fabio Panetta. This is particularly relevant as the ECB investigates the design and possible cross-border use of a digital euro. Read more
European Commission relaunches the review of EU economic governance
The European Commission has published a communication on economic governance in the aftermath of the COVID-19 crisis. The Commission had previously suspended this public debate, which was first launched in February 2020. The relaunched debate will draw on both the Commission's view of the effectiveness of the economic surveillance framework presented in February 2020 and the lessons learnt from the COVID-19 crisis described in today's Communication. Read more |
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FROM THE EBF
European Banking Federation announces support for Net-Zero Banking Alliance: EBF Press release
The European Banking Federation (EBF) today became the first official supporter of the Net-Zero Banking Alliance (NZBA), an industry-led, UN-convened international initiative focused on delivering the banking sectorâs ambition to align its climate commitments with the Paris Agreement goals. With this move, the EBF commits to further step up its efforts to accelerate the banking sector transition to net zero and facilitate its member banksâ ambitions to achieve this goal. Read more
EBA Consultation on draft Guidelines on the limited network exclusion under PSD2: EBF Response
The EBF has responded to the EBA Consultation on draft Guidelines on the limited network exclusion under PSD2. The response highlights that a transparent and clear application of the exemptions is relevant from a consumer protection perspective. When paying with a card that is issued under the limited network exclusions, consumers cannot benefit from those consumer protection rules that apply under PSD2. Also, a harmonised interpretation is also vital in terms of competition reasons, since there is a large cost difference in offering a service exempt from PSD2 compared to services in the scope. A more harmonised application of the exemptions would support a more level playing field. Read more
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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