EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 10 July 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 Recommend the EBF newsletters to a colleague. Click here to sign up! |
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FROM THE MEDIA
Bloomberg: Europe has a hot money problem, top ECB official says
European banks which rely on deposits supplied by third-party platforms should face tougher liquidity requirements to stem the risk of future hot money outflows, according to Tom Dechaene, a member of the European Central Bank (ECB)’s Supervisory Board. He addes that some of his ECB colleagues are similarly attentive to brokered deposits “but most of us are still more focused on capital than liquidity,” Bloomberg reports. Read more
The Parliament Magazine: The digital euro: a solution looking for a problem, or the next evolution of money?
Is the digital euro the logical next step? The answer depends on its form, design, concrete added value and competitive features, writes Alexandra Maniati, Senior director of innovation and cybersecurity at the European Banking Federation (EBF) in an op-ed published by The Parliament Magazine. Read more
Reuters: Major banks yet to match EU with nuclear green label
None of the world's 30 major banks have explicitly included nuclear energy in their criteria for issuing green or sustainability-linked bonds, despite an EU decision last year to label it as sustainable.. This is what result from an analysis by Columbia University's Center on Global Energy Policy seen by Reuters. Read more |
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FINANCIAL REGULATION AGENDA for next week Monday 10 July Tuesday 11 July -
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Council Working Party on Tax Questions (Direct Taxation) -
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Council Trade Policy Committee — Experts (Services and Investment) -
Wednesday 12 July Thursday 13 July Friday 14 July
For a full-year overview of key financial regulation events: click here
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Amid escalating climate change and energy crises, the European Commission Joint Research Centre’s 5th Sustainable Finance Summer School unites global experts to examine risk, digital technology’s role, and strategies for scaling sustainable finance in emerging economies. Combining academic sessions and policy-oriented lectures, this pivotal event fosters innovation, research, and policymaking in sustainable finance.
Registration is free, encouraging diverse attendance
for vital cross-sector discussion.
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FROM EBF MEMBERS
SBA: Jens Henriksson appointed new Chair
Jens Henriksson, President and CEO of Swedbank, has been elected chair of the Board at Swedish Bankers’ Association (SBA). “Banks are and should be safe partners for private individuals, business and the institutions. We play a central role in the economy, where digital security and collaboration to counteract fraud are key issues,” he says. Read more
Finance Finland: Open finance regulation to enable customer data sharing in the financial sector
With its open finance regulation, the European Commission is aiming to build a framework for financial data access in line with the EU’s data strategy and digital finance strategy. Finance Finland acknowledges the proposal’s potential but has reservations about its contents. As it stands now, the Commission’s proposal does not adequately account for the data protection and data security of consumers or financial sector companies. Read more
BdB: Cyber attacks on bank customers
According to the Federal Office for Information Security, 70 percent of all spam mails were cyber attacks last year. Besides, 9 out of 10 of the fraudulent mails pretended to come from a bank. To prevent you from becoming a victim, the Association of German Banks (BdB) has compiled information on the most common scams. Read more (DE) |
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FROM THE INSTITUTIONS
EBA: Validation requirements on initial margin models
The European Banking Authority (EBA) published its final draft Regulatory Technical Standards (RTS) on Initial Margin Model Validation (IMMV) under the European Markets Infrastructure Regulation (EMIR). EBA calls on co-legislators to consider the establishment of a central validation function in the EU. Read more
ESMA: Disclosures and sustainability risks in investment fund sector
The European Securities and Markets Authority (ESMA) is launching a Common Supervisory Action (CSA) with National Competent Authorities (NCAs) on sustainability-related disclosures and the integration of sustainability risks. Read more EC: 2023 Strategic Foresight Report The European Commission (EC) presented the 2023 Strategic Foresight Report, which analyses how to put ‘sustainability and people's wellbeing at the heart of Europe's Open Strategic Autonomy' and suggests ten concrete actions to achieve this aim. Read more |
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FROM THE EBF
EBF: Response to the ESRS consultation
The European Banking Federation (EBF) has responded to the European Commission’s consultation on the European Sustainability Reporting Standards (ESRS). 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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This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v[email protected]
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