EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 12 June 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 flags stark economic risks from biodiversity loss In an interview, Frank Elderson, an European Central Bank (ECB) executive board member, told the Financial Times (FT) that 72 percent of eurozone companies and three-quarters of bank loans in the region are exposed to loss of biodiversity. âDestroy nature and you destroy the economy,â Elderson said. Read more S&P Global Market Intelligence: EU banks brace for more bad loans European banks' asset quality is set to worsen as inflation dents corporate profits and tighter financial conditions put households under pressure. In a sample of 21 large European banks, 17 are expected to have higher nonperforming asset (NPA) ratios year over year in 2023, according to analyst consensus estimates compiled by S&P Global Market Intelligence. Of those, nine will see asset quality deteriorate further in 2024, the data suggests. Read more
Finextra: FCA cracks down on crypto advertising
The UK's Financial Conduct Authority (FCA) is to introduce tough new rules for the marketing of crypto assets, including a 24-hour cooling-off period for first-time investors. As part of the package, ârefer a friendâ bonuses will also be banned, Finextra writes. Read more |
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FINANCIAL REGULATION AGENDA for next week Monday 12 June Tuesday 13 June Swedish Council presidency and ENISA CSIRTs Network meeting DIGISUSTAIN Conference and Exhibition (Roger Kaiser, EBF Senior Policy Adviser - Fiscal & Anti-Money Laundering speaking)
Wednesday 14 June
Thursday 15 June
Swedish Presidency of the Council of the European Union Digital Assembly 2023 Friday 16 June Council Horizontal Working Party on Cyber Issues EIB Board of Governors AGM Swedish Presidency of the Council of the European Union Digital Assembly 2023
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS ABBL: Will the proposal for an AML Regulation pave the way to a more harmonized EU AML rulebook? The Trilogue discussions on the draft AML Regulation (AMLR) started on 11 May between the European Commission, the Council, and the European Parliament (EP). The Luxembourg Bankers' Association (ABBL) strongly advocated defending the positions shared by its members so that the AMLR ends up in a successful harmonized story rather than adding more complexity in an already dense AML/CFT legal framework. Read more BdB: Smartphone change and finances: You have to consider this The Association of German Banks (BdB) outlines what aspects to pay attention to when installing a new smartphone. BdB gives tips on mobile payments and what should be done if your smartphone gets stolen. Read more (DE)
CBA: The share of unemployed persons fell slightly to 3.5%
As reported by the Czech Banking Association (CBA), the proportion of unemployed persons fell slightly to 3.5% in May from 3.6% in April, according to analysts' expectations. In general, the drop in unemployment in May is typical and is related to traditional seasonality. Read more (CZ) |
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FROM THE INSTITUTIONS
ECB: Destroying nature destroys the economy
Biodiversities and nature-related services are important for the economy, European Central Bank (ECB) Executive Board member Frank Elderson says. It is not about flower power or tree-hugging, but price stability, financial stability, and sound banks. Read more BIS: The demand for government debt The Bank for International Settlements (BIS) investigated how central bank balance sheet policies affect investor demand for government debt. As central banks embark on quantitative tightening to shrink their balance sheets, how different sectors will absorb government debt will largely depend on how sensitive their demand is to changes in the yields (or prices) of government bonds. Read more
EC: European Green Deal: EU Modernisation Fund invests âŹ2.4 billion to accelerate the green transition in seven EU countries
As reported by the European Commission, the EU has disbursed âŹ2.4 billion to 31 projects in seven beneficiary countries to help modernize their energy systems, reduce greenhouse gas emissions in energy, industry and transport, and improve energy efficiency. Read more |
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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 |
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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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