EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 18 July 2022 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: ECB bond tool having no limits as steeper rate hikes loom
The European Central Bank (ECB) will unveil an unlimited bond-buying tool next week to help markets better adjust to steeper and faster interest-rate increases, economists surveyed by Bloomberg said. Almost 80% predict the instrument will carry light conditions for governments itâs used to help. Read more
Finextra: Bank of Ireland warns of new variation on smishing scams
Bank of Ireland is warning customers about a new wave of fraudulent text messages in circulation, where scammers are using customersâ card details to set up Apple/Google Pay. As reported by Finextra, the number of âsmishingâ cases detected by Bank of Irelandâs Fraud Prevention team has increased by 50% since the introduction of this tactic. Read more Reuters: BoE may force banks to use buffers in a crisis The Bank of England (BoE) may oblige all banks to tap their capital buffer and stop paying dividends in a crisis to avoid a vacuum in lending to households and businesses, one of its senior officials said. With London a base for many international banks, the proposal will be discussed with global regulators before any decision is taken, Reuters reports. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 18 July
Tuesday 19 July Council Working Party on Tax Questions (Indirect Taxation) Wednesday 20 July Council Horizontal Working Party on Cyber Issues Thursday 21 July UK in a Changing Europe economics panel Friday 22 July Council Horizontal Working Party on Cyber Issues Council Ad Hoc Working Party on the Social Fund
For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
NVB: Credit providers take into account increased consumer prices and reduce borrowing space
From 15 July, lenders will take inflation and rising energy prices into account when determining the borrowing capacity. The Association of Financing Companies in the Netherlands (VFN) and the Dutch Banking Association (NVB) announced this during the annual indexation of the lending standards. By taking the increased prices into account, customers are better protected against debts that they cannot pay. Read more (NL)
LBA: S&P confirms low risks for Liechtenstein's banking sector
In addition to the country assessment, Standard & Poor's (S&P) carries out a risk assessment of the banking sector every year. In its new report, S&P states that the economic risk of Liechtensteinâs banking sector is relatively low in a global comparison. Specifically, S&P positively highlights the significant progress made over the past decade in implementing anti-money laundering and tax evasion prevention regulations, the Liechtenstein Bankers Association (LBA) reports. Read more
Finance Denmark: Hard drive to the financial markets in 2022 is an important reminder to think long-term
The first six months of 2022 have yielded blood-red returns across all fund categories. Equity funds have seen poorer returns in the past, but for mixed funds and bond funds, it has been the worst half-year so far of this century. According to Finance Denmark, the extraordinary situation is a good reminder that you need to think carefully about your investment horizon and risk profile. Read more (DK) |
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FROM THE INSTITUTIONS
ECB: Technology is what we make of it
Banks engaged in crypto-related services must understand and work to minimize money-laundering and terrorism-financing risks, says European Central Bank (ECB) Supervisory Board member Elizabeth McCaul. "We should aim for a harmonised regulatory and supervisory framework as soon as possible," she says. Read more
SRB: Cooperation arrangement with the South Korean Deposit Insurance Corporation (KDIC)
The Single Resolution Board (SRB) and South Koreanâs Deposit Insurance Corporation (KDIC) have signed a cooperation arrangement, holding a virtual signing ceremony to facilitate closer cooperation and learning on resolution planning. With this agreement, the KDIC and the SRB confirm their commitment to strengthening resolvability by enhancing communication and international cooperation, and to work together towards the highest standards for resolution planning. Read more
BIS: Hard or soft landing?
Inflation is now at its highest level in several decades and threatens to become entrenched. According to the Bank for International Settlements (BIS), central banks need to steer a narrow course between tightening too much or too quickly, which could precipitate a hard landing, and tightening too little or too late, which could lead to inflationary pressures becoming ingrained, necessitating more costly measures down the road. Read more |
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FROM THE EBF this week
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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