| EBF MORNING BRIEF Wednesday 26 January 2022 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: 'Gamification' in financial markets under scrutiny Gamification has introduced a new generation of retail investors to financial markets who may not be aware there are few protections in assets like cryptocurrencies, Reuters reports. "We are looking at how to raise awareness and warn investors", said Verena Ross, European Securities and Markets Authority (ESMA) Chair. Read more Bloomberg: ECB may exempt more excess reserves from negative rate The ultra-low interest rate on the European Central Bank’s targeted longer-term refinancing operations will be the next pandemic-era stimulus measure to be pared back, with Bloomberg expecting an increase by 50 basis points in June. To prevent a substantial tightening of financial conditions, the ECB will probably simultaneously increase the so-called tiering multiplier to dampen the impact on bank profits and financial conditions. Read more ING Think: Rate hikes vs quantitative tightening; the ECB’s trade-offs As central banks move to cool inflation pressure, they are faced with various policy options. According to ING Think, this debate and the European Central Bank's road to normalization can be divided into three different stages: tapering, the end of negative interest rates, and finally moving towards a more neutral monetary policy stance. Read more |
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MAIN EVENTS -
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Council Horizontal Working Party on Cyber Issues -
European Securities and Markets Authority Board of Supervisors meeting -
European Parliament Subcommittee on Tax Matters -
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EBA Banking Stakeholder Group 'Finalisation of Basel III' workshop
For a full-year overview of key financial regulation events: click here
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FROM THE EBF MEMBERS BdB: Sustainability and banks Sustainability has a deep impact on member banks of the Association of German Banks (BdB). The BdB conducted interviews across Germany, asking "how does it work in practice?". The launch of the video series features an interview with Mireille Khazaka, Chief Risk Officer Sustainable Finance at HypoVereinsbank. Read more (DE)
Finance Denmark: Consultation on draft law regulating social media
Finance Denmark has submitted a consultation response to the Danish Competition and Consumer Authority on a draft law regulating social media. With an increasing number of people experiencing personal fraud on social media, Finance Denmark is proposing the extension of social media regulation to include fraudulent advertising. Read more (DK)
SBA: 5th Hong Kong–Swiss Financial Seminar
During the fifth edition of the Hong Kong–Swiss Financial Seminar, Marcel Rohner, Chairman of the Swiss Bankers Association (SBA), pointed to the fundamental significance of sustainability, which has been defined as a top priority for the SBA. The panel discussions focused on the recent developments of family offices in the last decade, their role in the economy, and how this impacts international wealth management. Read more |
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FROM THE INSTITUTIONS
BIS Innovation Hub to focus on CBDC, payments, DeFi & green finance
The Bank for International Settlements (BIS) Innovation Hub will launch new projects into central bank digital currencies (CBDCs), next-generation payments systems, and Decentralised Finance (DeFi), expanding its portfolio of explorations seeking to develop new technological public goods for central banks. The work program will also see new projects in green finance, regulatory and supervisory technology, and cyber security. Read more
ECB: Interview with Philip R. Lane, Member of the Executive Board
Inflation will remain high at the start of 2022 but will fall later on, especially towards the end of the year, Chief Economist of the European Central Bank (ECB) Philip R. Lane says. ECB's current projections foresee inflation below the 2% target in 2023 and 2024. Read more
ESRB: Recommends increasing the resilience of money market funds
The European Systemic Risk Board (ESRB) has published a policy recommendation aimed at increasing the resilience of money market funds. The regulatory changes that followed the 2020 global financial crisis did not go far enough in terms of mitigating systemic risks. The ESRB is therefore recommending policy reforms aimed at addressing the remaining sources of systemic risk. Read more |
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FROM THE EBF
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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