EBF MORNING BRIEF Wednesday 25 January 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 Reuters: EU financial services need a shake-up to benefit retail investors, top official says A potential ban on commissions paid by banks to financial advisers who sell their products could be part of a wider shake-up of retail financial services in the EU, Financial services chief Mairead McGuinness said. As reported by Reuters, EU states and the European Parliament would have the final say on any proposal to ban inducements. Read more
Bloomberg: ECB unveils climate-related statistics to narrow data gap
The European Central Bank (ECB) unveiled a first set of climate-related statistical indicators to monitor the impact of global warming on the financial sector and track developments in sustainable finance. The data show the volume of sustainable and green bonds in the eurozone has more than doubled over the past two years and has grown much faster than the overall bond market, Bloomberg reports. Read more
CoinDesk: EU imposes ‘prohibitive’ requirements on banks’ crypto
The European Parliament's Economic and Monetary Affairs Committee voted to impose strict restrictions on banks seeking to hold crypto. According to CoinDesk, the vote is intended to anticipate international bank-capital norms and will result in banks being “required to hold a euro of own capital for every euro they hold in crypto," Markus Ferber, the economic spokesperson for the parliament's largest political grouping, said in a statement. Read more |
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MAIN EVENTS Council Working Party on Tax Questions (Direct Taxation) Council Horizontal Working Party on Cyber Issues European Parliament Subcommittee on Tax Matters For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
AEB: Raise awareness to boost prevention
Fighting cybercrime has gone from being a necessity to being an obligation and we all have a responsibility to prevent it. With this objective of raising awareness to prevent cybercrime, the Spanish Banking Association (AEB) congratulates CNMV for publishing a guide on scams and fraud. Read more (ES)
ABI: Data released by Unimpresa
With reference to the data released by Unimpresa, Gianfranco Torriero, Deputy General Manager of the Italian Banking Association (ABI) says that "for a correct assessment of the dynamics of loans to businesses, it is necessary to take into account securitized loans. Therefore, based on official data from the Bank of Italy, loans to businesses grew by almost 11% between 2017 and 2022". Read more (IT)
Finance Latvia: Swedbank Economic Review
Latvia's economy began to shrink in the fall of 2022, and its performance will be weak in the first half of 2023. Although uncertainty remains high, the realization of a deep economic crisis looks less likely now than in the fall, Finance Latvia reports. Read more (LAT) |
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FROM THE INSTITUTIONS ECB: New climate-related indicators to narrow climate data gap The European Central Bank (ECB) has published a first set of climate-related statistical indicators to assess the impact of climate-related risks on the financial sector and to monitor the development of sustainable and green finance. The indicators are a work in progress and should be used with caution. Read more
ESMA: New website
The European Securities and Markets Authority (ESMA) presents a new website with an improved design and functionalities. The new look is aligned with ESMA’s new visual identity and aims at facilitating access to key topics and publications. Read more
ESRB: Stabilising financial markets
A new Advisory Scientific Committee report published by the European Systemic Risk Board (ESRB) looks at how central banks can design enhanced facilities for both lenders of last resort and market makers of last resort. This could help to maximize the effectiveness of such facilities and minimize any harm. Read more |
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FROM THE EBF
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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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