EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 1 May 2023

An overview of the main financial regulation and banking stories this week and a look ahead to key events for the upcoming week, brought to you by the European Banking Federation

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OUR NEWSLETTER TAKES A SHORT BREAK!

We will be back on Wednesday 3rd of May!

Looking forward to seeing you soon for new events and stories
in the financial and banking sector. 

FROM THE MEDIA 

Reuters: EU executive softens commission curbs for financial products

According to Reuters, the EU executive body said it would propose only a partial ban on banks offering cash incentives to financial advisers who have sold their products. "We're looking at tightening the conditions under which inducements are allowed," EU financial services chief Mairead McGuinness said. Read more

CoinDesk: Stablecoin reserves need to be diverse

José Manuel Campa, chairman of the European Banking Authority (EBA) urged crypto players to start managing risks immediately as new rules take effect. As reported by CoinDesk, MiCA requires issuers of stablecoins to have enough reserves to manage turbulence, and “EBA will be paying special attention to diversification of the deposit component of the reserve.” Read more

Bloomberg: EU finance chiefs set to lock horns on fiscal rules

European Union finance ministers meeting outside Stockholm this week will discuss how to improve the banking union following a proposal to make it easier to wind down troubled small and medium-sized lenders. Besides, the EU is looking at how to coordinate financial support to help rebuild the country in the longer term, Bloomberg reports. Read more

FINANCIAL REGULATION AGENDA for next week

Monday 1 May

• WTO Committee on Safeguards

 
Tuesday 2 May

• Council Working Party of Financial Counsellors

• Council Trade Policy Committee (Generalised System of Preferences)

• Deutsche Bundesbank ‘Automation, digitalisation and sustainability concerning cash management’ event

• EBA ‘Consultation on JC Guidelines on on the system for the exchange of information relevant to fit and proper assessments (JC 2022 76)’ submission deadline

• EBA ‘Consultation on the ITS on Supervisory Reporting with regard to IRRBB reporting (EBA/CP/2023/01)’ submission deadline

• Swedish Presidency of the Council of the EU ‘Single Market Forum (SIMFO)’ event

• EIB ‘Board seminar with civil society’ seminar

• European Policy Centre ‘The Swedish Presidency’s race to enhance green competitiveness’ event

Wednesday 3 May

• Council Working Party on Financial Services and the Banking Union (Financial Services)

• Council Horizontal Working Party on Cyber Issues

• Council Trade Policy Committee — Experts (Services and Investment)

• Deutsche Bundesbank ‘Environmental and energy management at the Deutsche Bundesbank’ event

• Deutsche Bundesbank ‘Climate change and central banks — greening the collateral framework’ seminar

• EESC Hearing and Study Group on the EU Climate Diplomacy

• EIB Board of Directors meeting

• EEB ‘Civil Society Forum for Sustainability — shaping the European Green Deal’ online event

• Bruegel ‘Compensation between Content and Application Providers (CAPs) and network operators: An evolving discussion’ event

 
Thursday 4 May

• Council Financial Services Attachés

• Council Working Party on the Environment

• ECB Governing Council monetary policy meeting

• European Commission ‘The Brussels Economic Forum’ event

• Swedish Presidency of the Council of the EU Informal Working Party on Tax Questions (High Level)

• EEB ‘Civil Society Forum for Sustainability — shaping the European Green Deal’ online event

• IACPM ‘Annual Spring Conference’ (Gonzalo Gasos, EBF Senior Director of Prudential Policy & Supervision, speaking)

Friday 5 May

• Council Financial Services Attachés

• Council Horizontal Working Party on Cyber Issues

• Council Working Party on the 2030 Agenda for Sustainable Development (Agenda 2030)

• Swedish Presidency of the Council of the EU Informal Working Party on Tax Questions (High Level)

• IACPM ‘Annual Spring Conference’

For a full-year overview of key financial regulation events: click here

FROM EBF MEMBERS

ABBL: EU aims to strengthen its bank resolution framework

The European Commission has adopted its proposal to strengthen the EU's existing bank crisis management and deposit insurance (CMDI) framework. The Luxembourg Banker's Association (ABBL) stands ready to represent the voice of its members in the forthcoming legislative process. Read more

BdB: Beware of SMS or WhatsApp scammers

Smartphone users are once again receiving fake SMS or WhatsApp messages intended to lure consumers into clicking on a link. Caution. This may be a scam. The Association of German Banks (BdB) shares tips on how to recognize scams and stay safe. Read more (DE)

Febelfin: Strong decrease in granting of credit mortgage

From the first quarter of 2022 to the first quarter of 2023, the number of loan applications fell by almost 37%, excluding refinancing. This is what emerges from the statistics relating to mortgage loans published today and seen by Febelfin. Read more (FR)

FROM THE INSTITUTIONS

ECB: Fabio Panetta: Digital euro – a work in progress

The European Central Bank (ECB) has published the slide deck presented by Fabio Panetta, Member of the ECB Executive Board at the European Association of Co-operative Banks Board meeting. Read more

EBA: Draft version of its revised taxonomy architecture

The European Banking Authority (EBA) and the European Insurance and Occupational Pensions Authority (EIOPA) have been working jointly with Eurofiling to produce a revised version of the taxonomy architecture in order to implement the improvements introduced by data point model (DPM) Refit to data point modeling. Read more

EIOPA: Ultimate Forward Rate (UFR) for 2024

The European Insurance and Occupational Pensions Authority (EIOPA) published today the calculation of the Ultimate Forward Rate (UFR) for 2024. As of 1 January 2024, the applicable UFR for the euro will be 3.30%. Read more

FROM THE EBF  this week

New EBF Vacancies! Work with us!

Visit our Vacancies page to learn more about the opening positions at the EBF. Read more

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

European Banking Federation