EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 11 December 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
FT: ECB warns of fines for banks that ‘drag their feet’ on fixing flaws
Eurozone banks that drag their feet and fail to comply with requests from supervisors to fix vulnerabilities will face tougher enforcement action including more fines, a top European Central Bank (ECB) official has warned. According to the Financial Times (FT), top official points out the need to particularly supervise climate and systemic risks. Read more
Reuters: ECB to cut rates in Q2, earlier than thought
The European Central Bank (ECB) will cut interest rates in the second quarter of next year, earlier than previously thought, according to a slim majority of economists in a Reuters poll, as the economy enters a short and shallow winter recession. Read more
Finextra: UK financial regulators to assume direct oversight of critical technology suppliers
UK banking regulators proposed further checks on financial firms' reliance on third-party technology companies, Finextra reports. Regulators fear that disruptions at third-party sites could have a destabilizing effect on the ability of banks to service the economy. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 11 December
Tuesday 12 December
Wednesday 13 December
Thursday 14 December Friday 15 December |
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FROM EBF MEMBERS
NVB: Insights into the banking sector
The Dutch Banking Association (NVB) gives new members of the House of Representatives an insight into the banking sector. The NVB has compiled a book entitled “Insight into Banks” that shows how a bank works, what issues banks deal with, and how they are connected to social challenges. Read more (NL)
SBA: Banks, important players in the transition to carbon neutrality
The Swiss financial delegation at COP28 unanimously affirmed that Switzerland, with its international financial center, could make an important contribution to finding long-term solutions to climate change. As the Swiss Bankers Association (SBA) mentioned, the work must be carried out with determination. Read more (FR) BdB: Beware of Christmas shopping scams! Those who like to buy Christmas presents online should be especially vigilant in the coming weeks, as many fake text messages to entice consumers to click on a link have resurfaced. As the Association of German Banks (BdB) reports, this could be a 'smishing' scam. These scams are particularly insidious, as awareness of the risk is usually lower. Read more (DE) |
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FROM THE INSTITUTIONS
ECB: Future euro banknotes – next steps
The European Central Bank (ECB) Governing Council has selected two possible themes for future euro banknotes: “European culture” and “Rivers and birds”. Read more
ESAs: Second public consultation on joint Guidelines on the system for the exchange of information relevant to fit and proper assessments
The European Supervisory Authorities (ESAs) launched a second consultation related to the joint Guidelines on the system for the exchange of information to fit and proper assessments. The consultation covers amendments extending the scope of the Guidelines to legal persons, thus ensuring the complete coverage of data subjects. Read more
ESMA: Update to the ESEF XBRL taxonomy 2022 files and the ESEF Conformance Suite 2023
The European Securities and Markets Authority (ESMA) has published an update to the European Single Electronic Format (ESEF) XBRL taxonomy 2022 files and the ESEF Conformance Suite 2023 to facilitate the implementation of the ESEF Regulation. Read more |
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FROM THE EBF
Report of the C-ESG Risk Roundtable Data Workstream
This report is a result of the joint work of the WS members facilitated by Nordea Bank Abp in its role as Data WS (DWS) chair. The objective of the report was to identify commonly applied practices for addressing data and methodological uncertainties associated with disclosures against the Implementing Technical Standards (ITS) on prudential disclosures and ESG risks (Pillar 3). 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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