📰 EBF Morning Brief - Wednesday 23 June: EU needs comprehensive cross-border banking rules

FROM THE MEDIA

Reuters: EU needs comprehensive cross-border banking rules

International banks need comprehensive rules and regulations to operate more smoothly across the European Union, UBS Chairman Axel Weber said at an event on Tuesday. “They need a cross-border framework for action, they need an EU-wide regulatory framework, and they don’t need this existing patchwork of nationally different regulations,” Weber said during the event hosted by Germany’s financial news provider WM Gruppe, Reuters writes. Read more

Finextra: The future of payments: An open future for finance

The push from open banking toward the more encompassing approach of open finance is being driven by several elements, from consumer pressure to regulatory obligations to greater awareness around privacy concerns. However, there is by no means a unanimous approach to open banking, and certain players believe that we are at different stages of completion on the open banking roadmap, Finextra reports. Read more

CNBC: This little-known payments start-up is now Europe’s third-biggest fintech

Mollie was a relatively little-known company before Covid-19. Now, it’s one of Europe’s biggest fintechs. The Amsterdam-based online payments processor finally became a “unicorn” valued at more than $1 billion in September, more than a decade after it was founded by Dutch entrepreneur Adriaan Mol in 2004, CNBC's Ryan Browne writes. Read more

MAIN EVENTS

European Parliament plenary session

Council Working Party on Financial Services meeting

German Economic Institute (IW) and Association of German Banks (BdB) 'Corporate finance – How to steer the transformation after the Covid crisis?' livestream debate

Bruegel ‘How to spend it? A closer look at the recovery plans’ event

Chatham House ‘What does the IEA’s Net Zero by 2050 mean for emerging producers?’ event

UK in a Changing Europe ‘The EU referendum: 5 years on’ event series

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

ONE DAY TO GO!
EBF Digital Thursdays

Close-up: A Digital Euro

ONLINE / Thursday, 24 June at 13:30 CEST

The European Central Bank (ECB) is expected to announce soon the continuation of its investigation into a digital euro following a public consultation. As the debate moves ahead, fundamental questions on the best way forward should be answered. Tomorrow, join CEOs, policymakers, private actors, digital experts, and other high-level speakers to discuss the main benefits and challenges in Digital Euro and the latest understanding of intermediation by banks. Register HERE

FROM THE EBF MEMBERS

FBF: The French banking sector ensures a continuous dynamic of qualified recruitments

In the context of the health crisis that marked the year 2020, the French banking sector has demonstrated its solidity. It remains indeed a dynamic player in the employment market with more than 35,300 people recruited by French banks in 2020. The 2020 figures confirm the structural change in the profile of employees: there are 68% of executives (+13 points since 2012) of which 49% are women (+4.4 points since 2012), reports the French Banking Association (FBF). Read more (FR)

Febelfin: Launch of a Charter on circular economy

Febelfin signed a Charter with the aim of accelerating the development of the circular economy. Through three general conditions, the sector wants to ensure that entrepreneurs looking for financing for a circular project receive the green light more quickly. In addition to a summary of criteria and practical examples, the charter also contains a practical checklist for companies wishing to properly prepare their funding request for a circular project. Read more (FR)

UK Finance: Banking technology: Changing priorities for challenging times

The majority of retail and commercial banks have set digitalization as a priority alongside deriving deep data insights using sophisticated analytics to better target and service their consumers. According to UK Finance, Covid-19 has exposed operational shortcomings and highlighted the continuing reliance on paper-based, manual processes and ”swivel-chair” integrations. Given the recent events, now could be a good time for banks to evaluate what this has meant for them and for firms to assess how their priorities have changed and continue to change. Read more

FROM THE INSTITUTIONS

ECON: Lagarde: ECB plans to maintain supportive monetary policy

The Economic and Monetary Affairs Committee (ECON) quizzed the European Central Bank (ECB)'s President Christine Lagarde about economic stimulus stemming from negative interest rates and plans for the pandemic emergency purchase programme. During her hearing, she also discussed the current study underway on the feasibility of a digital euro. Read more

European Commission: Public Consultation on Marketing of Financial Services

EU rules on distance marketing of financial services support the free movement of financial services in the single market by aligning different EU countries’ consumer protection rules for financial services sold at a distance. This initiative will review this legislation, based on the results of a recent evaluation that has highlighted several issues preventing the rules from working as intended. Open for feedback until 28 September 2021. Read more

Official Journal of the European Union: ECB's opinion on Distributed Ledger Technology

The Official Journal of the European Union has published the ECB’s opinion on a proposal for a regulation of the European Parliament and of the Council on a pilot regime for market infrastructures based on distributed ledger technology. Read more

ABOUT THE EUROPEAN BANKING FEDERATION

If you do not want to receive the EBF Morning Brief click here.
For questions or suggestions contact [email protected]
European Banking Federation