EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 17 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
Reuters: ECB policymakers open to further rate hikes past July
The European Central Bank (ECB) may need to continue raising interest rates beyond this month to bring inflation back to target, ECB policymakers said at their last meeting according to an account seen by Reuters. Read more
Finextra: The Bank of London applies for EU banking license
The Bank of London, a global clearing and transaction banking startup, has applied for a European banking license, Finextra reports. The bank also committed to a €200 million investment and the hiring of 300 people in Luxembourg over the next five years. Read more
S&P Global Market Intelligence: European bank stock recovery faces test as political pressure on deposits mounts
According to S&P Global Market Intelligence, European bank stocks face pressure from increasing government demands for lenders to raise interest rates on deposits. Banks in the UK, Spain, and Italy are among those facing calls from politicians to offer more generous rates to savers as many customers struggle with a surge in living costs due to persistent inflation and higher borrowing costs. Read more |
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FINANCIAL REGULATION AGENDA for next week Monday 17 July European Parliament Subcommittee on Tax Matters Tuesday 18 July Wednesday 19 July Council Working Party on Tax Questions (Indirect Taxation) Council Trade Policy Committee — Experts (Services and Investment) Council Horizontal Working Party on Cyber Issues
Thursday 20 July Council Working Party on Tax Questions (Indirect Taxation) Friday 21 July For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS ABB: Quarterly Bulletin: The work of the EBF on cybersecurity and digital operational resilience The Association of Banks in Bulgaria (ABB) has published its 75th Quarterly Bulletin. The publication includes an article on the work of the European Banking Federation (EBF) on cybersecurity and digital operational resilience by Alexandra Maniati, EBF Senior Director for Innovation & Cybersecurity, and Dimos Karalis, EBF Policy Adviser for Innovation & Cybersecurity. Read more
BdB: Youth learning how to handle money
Pocket money can help kids practice dealing with money by learning that things cost different amounts, what they can afford, and what they can save for. According to the Association of German Banks (BdB), setting up a children's account is a key step for parents to help their children in handling money properly. Read more (DE)
ABBL: Optimism about the future of banking
According to Guy Hoffmann, Chairman of the Luxembourg Bankers' Association (ABBL), there are different reasons to remain optimistic about the future of banks. However, banks need to adapt, in particular by succeeding in their digital transformation, while capitalizing on customer confidence. Read more |
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FROM THE INSTITUTIONS
EBA: EU/EEA banking sector shows rising profitability, but asset quality and profitability related risks are looming
The European Banking Authority (EBA) published its Q1 2023 quarterly Risk Dashboard (RDB). The publication presents the results of the EBA’s latest risk assessment questionnaire among 85 banks in the spring of this year. It also includes information on minimum requirements for own funds and eligible liabilities (MREL). Read more ESMA: National regulators strengthen supervision of compliance The European Securities and Markets Authority (ESMA) published its follow-up report to the peer review on certain aspects of the compliance function under MiFID I. The report shows that all the National Competent Authorities (NCAs) assessed improved their practices following the 2017 peer reviews findings and recommendations. Read more EIOPA: Report on Colleges Activities 2022 The European Insurance and Occupational Pensions Authority (EIOPA) published its report on the activities of Colleges of Supervisors in 2022. The report highlights the importance of efficient and effective coordinated supervision of cross-border insurance groups and provides an overview of the developments and key topics discussed in the colleges. Read more |
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FROM THE EBF
EBF: Credit Spread Risk in the Banking Book: Banking Industry Common Understanding
In October 2022, the European Banking Authority (EBA) published a set of Guidelines on Credit Spread Risk in the Banking Book (CSRBB) with an end-of-2023 entry into force. These Guidelines published in 2022 replace the 2018 Guidelines “on the management of interest rate risk arising from non-trading book activities”. 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.
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