EBF MORNING BRIEF Wednesday 26 April 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: ECB quizzes lenders over risk of Silicon Valley Bank-style losses As reported by the Financial Times (FT), Europeâs financial authorities are quizzing lenders about their exposure to rapidly rising interest rates, as they investigate how much this risk may spread beyond the banking sector. Andrea Enria, Chair of the European Central Bank (ECB)âs supervisory board says unrealized losses on bond holdings are âpoints of attentionâ after a sharp rise in interest rates. Read more
Reuters: Banks join European instant payments pilot from end 2023
The European Payments Initiative (EPI) has acquired two payment firms and obtained the backing of more banks after scaling back ambitions to take on US payments giants. According to Reuters, the wallet will be launched in a pilot phase by the end of 2023 across France and Germany. Read more
Finextra: Merchants should be obliged to accept digital euro
Merchants should be obliged to accept a future digital euro as legal tender, whilst people and businesses should also be able to obtain the CBDC at their banks, says European Central Bank (ECB) executive board member Fabio Panetta. However, in the face of mounting skepticism among EU nations, Panetta accepts that political opposition could effectively sidetrack or even derail the project, Finextra writes. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
Finance Finland: As deposit guarantee and bank resolution are being developed, bail-in must not be forgotten Finance Finland is surprised at the Commissionâs plans, which pave the way for the establishment of a European deposit insurance scheme as the Banking Unionâs third pillar without respecting the principle of bail-in. When a bank is failing or likely to fail, the losses should be borne by the bankâs investors. Read more
NVB: iDEAL as foundation for a pan-European payment platform
Currence iDEAL has announced that it will merge with the European Payments Initiative (EPI). As reported by the Dutch Banking Association (NVB), the acquisition will not have any direct consequences for Dutch consumers and companies for the time being, other than the further development of the new iDEAL, which has already been initiated. Read more (NL)
BPFI: SME Market Monitor April 2023
As the government pandemic and cost-of-living supports to businesses expire, the services sector is likely to need private consumption to increase according to the latest SME Market Monitor published by Banking & Payments Federation Ireland (BPFI). Read more |
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FROM THE INSTITUTIONS
ECB: Confidence of consumers and firms has visibly improved
European Central Bank (ECB) Chief Economist Philip R. Lane talks about the current economic outlook, upcoming interest rate decisions, and the importance of returning inflation to 2% in a timely manner. Read more
ESAs: Call for vigilance in the face of mounting financial risks
The European Supervisory Authorities (ESAs) issued their Spring 2023 Joint Committee Report on risks and vulnerabilities in the EU financial system. While noting that EU financial markets remained stable, they are calling on national supervisors, financial institutions and market participants to remain vigilant in the face of mounting risks. Read more
EBA: Final draft technical standards on the determination of the exposure value of synthetic excess spread in synthetic securitizations
The European Banking Authority (EBA) published its final draft Regulatory Technical Standards (RTS) specifying the determination by originator institutions of the exposure value of synthetic excess spread (SES). Read more |
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FROM THE EBF
EBF: Energy Performance of Buildings Directive (EPBD) joint position
The banking industry recognized the strategic importance of the EPBD and supports the overall ambition of reducing energy poverty, decreasing the EUâs dependence on fossil fuels, and helping meet the EUâs climate targets and zero-emission building stock by 2050. Banks are fully committed to channeling private finance to support these objectives, tailoring new financing products to the specific needs of their borrowers. 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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