EBF MORNING BRIEF Wednesday 30 November 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: Britain to allow banks to take on more risk to stay competitive Britain will change its rulebook to allow banks to take more risks to keep the City of London's status as a leading global financial center, a government minister said. As reported by Reuters, the EU will next week set out a new law to force banks in the bloc to shift some of their euro derivatives clearing from London to Frankfurt. Read more
Bloomberg: German inflation eases, boosting calls for slower ECB hikes
Germany followed Spain and Belgium in reporting slower inflation, offering ammunition to those who want the European Central Bank (ECB) to ease the pace of interest-rate increases. Inflation data for the 19-nation eurozone are due Wednesday, with economists also estimating a slight moderation, Bloomberg points out. Read more
The Cointelegraph: ECB president calls for ‘MiCA II’ after FTX collapse
Christine Lagarde, European Central Bank (ECB) President calls the regulation and supervision of crypto an “absolute necessity” in the wake of the collapse of crypto exchange FTX. 'There will have to be a MiCA II, which embraces broader what it aims to regulate and to supervise,” she says. The Markets in Crypto Assets bill (MiCA) is awaiting final approval following legal and linguistic checks by EU lawmakers, the Cointelegraph reports. 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 HUB: The banking sector is key to boost sustainable growth in Europe In uncertain circumstances, the banking sector has a key role to play in maintaining stability and resilience. Besides, banks' financing will be necessary for economic recovery, green transition and digital transformation of the European economy. This is what the Croatian banking Association (HUB) writes echoing the latest Board highlights from the European Banking Federation (EBF). Read more (HR)
Febelfin: Campaign to prevent online fraud and results
Febelfin is launching a campaign to make young people aware of the dangers of online fraud and the phenomenon of money mules. Research shows that almost 16% of the young people surveyed would pass their bank card or bank details to someone they do not know in exchange for money. Read more (NL) BPFI: Response to publication of Banking Review Report Banking & Payments Federation Ireland (BPFI) has welcomed the publication of the Retail Banking Review Report by the Minister for Finance, Paschal Donohoe. Brian Hayes, Chief Executive of BPFI, welcomes the publication of the report which comes at a critical time for the sector, highlighting that BPFI will work in a constructive way to implement the report's recommendations and conclusions. Read more |
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FROM THE INSTITUTIONS ECB: Croatia's changeover In January, Croatia will join Europe’s single currency: the euro. The European Central Bank (ECB) has launched a special online hub bringing together all essential information on this topic. Read more
ESMA: Parsing prospectuses: A text-mining approach
This article presents the results of a European Securities and Markets Authority (ESMA) endeavor to apply natural language processing (NLP) methods to a dataset of 3,220 documents retrieved from the recently enhanced Prospectus Register (PR). Read more
BIS: Gabriel Makhlouf: Financial Stability Review 2022
Gabriel Makhlouf, Governor of the Central Bank of Ireland announced the release of the second Financial Stability Review (FSR) of 2022. 'We are implementing macroprudential tools to safeguard resilience while engaging with our international colleagues to develop and implement a macroprudential framework for non-banks internationally,' he says in a speech published by the Bank for International Settlements (BIS). 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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