EBF MORNING BRIEF Wednesday 24 May 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 FT: Rising shadow bank risks expose ‘insufficient’ EU rules, warns ECB The European Central Bank (ECB) has warned that rising risks at so-called shadow banks have left EU regulation “ever more insufficient” to prevent further financial market shocks from triggering a wider liquidity crisis. As reported by the Financial Times (FT), Luis de Guindos, ECB Vice-president, proposed four ways to tackle these risks. Read more
Reuters: Botin blames mismanagement for banking sector turmoil
According to Reuters, the chairman of Santander, Ana Botin, warned against more regulation in the financial industry and said that in part mismanagement was to blame for the recent banking turmoil in the sector. Read more
Finextra: IOSCO issues recommendations for crypto-asset regulation
In a major initiative to improve global standards of regulation of crypto-assets, IOSCO set out how clients should be protected and how crypto trading should meet the standards that apply in public markets. IOSCO has opened a public consultation on its recommendations and aims to finalize them by the end of the year, Finextra reports. Read more |
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MAIN EVENTS Council Horizontal Working Party on Cyber Issues European Economic Area Council For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
Febelfin: Financial literacy among women
Febelfin spoke with Laura Lumingu, Corporate Culture & DEI Officer at KBC, about financial literacy and financial education among women. 'I believe that financial information and education can be presented in a very accessible way these days,' she says. Read more (FR)
ABBL: ChatGPT and banks in Luxembourg: an opportunity
ChatGPT, opportunity or threat for banks? Discover the results of the survey on the adoption of ChatGPT in banks, carried out among the members of the FinTech and Innovation Forum of the Luxembourg Banker's Association (ABBL). Read more
Finance Norway: Salary settlement
Finance Norway agreed with the Confederation of Finance and Trade and Offices/Fagforbundet on the wage settlement in the financial industry. While mediation was set for 5 June, the parties managed to find a solution on their own. Read more (NO) |
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FROM THE INSTITUTIONS
ECB: For a stronger non-bank financial sector
The role of non-banks in financing the euro area economy continues to grow and this entails greater risks for the financial system, says European Central Bank (ECB) Vice-President Luis de Guindos. A more comprehensive macroprudential framework would ensure non-banks are more resilient. Read more
ESAs: Joint Annual Report for 2022
The European Supervisory Authorities (ESAs) published its 2022 Annual Report, which provides an account of its joint work completed over the past year. Read more
ESMA: Input on rules for long term investment funds
The European Securities and Markets Authority (ESMA) is consulting on draft regulatory technical standards (RTS) under the revised ELTIF Regulation. Interested stakeholders are invited to provide input by 24 August 2023. Read more |
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FROM THE EBF
EBF: Access to data by public bodies: a double-edge tool to use with caution and restraint
Together with other associations, the EBF has co-signed a statement addressing concerns on Chapter V of the Data Act which covers access to data by public bodies. 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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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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