EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 18 September 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!

FROM THE MEDIA 

Reuters: ECB raises rates to record high, signals end to hikes

The European Central Bank (ECB) raised its key interest rate to a record high of 4%. According to Reuters, with the eurozone economy in the doldrums, this is likely to be its final move in a more-than-year-long fight against inflation. Read more

Finextra: EU banks to launch fraud-fighting tool for instant payments

The pan-European payment infrastructure, which runs the STEP2 and RT1 instant payment systems, has issued the specifications for its pan-European Fraud Pattern and Anomaly Detection (FPAD) functionality, Finextra reports. Read more

Bloomberg: Sarah Breeden approved as new BoE Deputy Governor

UK lawmakers have approved the appointment of Sarah Breeden as Bank of England (BoE) Deputy Governor for Financial Stability. As reported by Bloomberg, Breeden will start her term in November, after the BoE’s next rate decision next week. Read more

FINANCIAL REGULATION AGENDA for next week

Monday 18 September

• Council Working Party on Financial Services and the Banking Union (Financial Services)

• Council Working Party on Tax Questions (Indirect Taxation)

• Council Horizontal Working Party on Cyber Issues

• CEPS ‘Making the OECD’s corporate tax agenda work in the EU’ event

• GSMA ‘Building a Competitive, Digital and Green Europe’ event

• UN Sustainable Development Solutions Network (SDSN) ‘Think Globally, Act Systemically: Driving Sustainable Change at the UN SDG Summit’ event

Tuesday 19 September

• Council Working Party of Financial Counsellors

• Deutsche Bundesbank International conference on household finance

• European Policy Centre ‘A Digital Single Market? Europe’s vision for the digital decade’ event

• European Commission ‘Financing the energy renovation of buildings' workshop

• UNECE Aarhus Convention Compliance Committee

• BaFin and Deutsche Bundesbank 'BaFinTech 2023' event

• Bank of England 'The role of financial regulation in international competitiveness and economic growth' conference

• Freshfields Bruckhaus Deringer and the Institute for Law and Finance at Goethe University '10th Conference on the Banking Union' event

• GDV 'Cyber: A Double Challenge - a Double Opportunity?' event

• 4th European Digital Identity Roundtable

• POLITICO 'Open Finance: the battle for data' event

• The Financial Times Future of Retail Summit

• The Banker 'Reimagining liquidity provisions for cross-border payments. Can technology de-risk commercial bank transactions?' event

• The Banker 'Payment transformation as a cornerstone of sound governance. Is business value the new engine for payment optimization?' event

Wednesday 20 September

• European Parliament Committee on Economic and Monetary Affairs

• Council Working Party on Financial Services and the Banking Union (Financial Services)

• Council Financial Services Committee

• European Banking Authority hearing on RTS on extraordinary circumstances

• Spanish Council presidency informal meeting of the high-level working group on tax matters

• ENISA eHealth Security Conference

• Bruegel 'Accelerating Italy's economic growth with Bernardo Mattarella' event

• The Financial Times Cyber Resilience Summit 2023

Thursday 21 September

• Council Working Party on Financial Services and the Banking Union (Financial Services)

• Spanish Council presidency European cybersecurity skills conference

• ENISA European cybersecurity skills conference

• ENISA Conference on Power Grids Cybersecurity

• SUERF '20 years of Macroprudential Policy in Europe – Looking back and looking ahead' event

• InformaConnect 'Competition law in the financial services sector' event

• Bruegel 'Can we claim victory over inflation?' event

• Chatham House ‘Thinking Out Loud: Is AI a force for good?’ event

• S&P Global Market Intelligence 'Navigating Basel IV: Guidance and insight into complying with the new reforms for banks' event

• The Financial Times Cyber Resilience Summit 2023

Friday 22 September

• Council Working Party on Financial Services and the Banking Union (Financial Services)

• European Commission 'Our Baltic Conference' event

• SUERF '20 years of Macroprudential Policy in Europe – Looking back and looking ahead' event (Gonzalo Gasós, EBF Senior Director Prudential Policy and Supervision speaking)

• The Financial Times Cyber Resilience Summit 2023

FROM EBF MEMBERS

BdB: Herkenhoff: ECB sends strong signal

"The European Central Bank (ECB) is determined to push inflation in the euro area to the 2 percent target," says Heiner Herkenhoff, Chief Executive of the Association of German Banks (BdB). "I think this is a strong signal and an important contribution to stabilizing inflation expectations at the ECB target." Read more (DE)

Finance Denmark: Lowest interest for loan restructuring

Danish homeowners' appetite to refinance their mortgage is the lowest it has been in two years, figures from Finance Denmark show. This may be due to the fact that a great many homeowners changed their home loans as early as 2022. Read more (DK)

CBA: #nePINdej! awareness campaign

Cyberattacks are increasing. This is why the Czech Banking Association (CBA) is launching the extensive #nePINdej! awareness campaign, during which the general public can learn about the most common types of fraud and learn how not to fall for them. Read more

FROM THE INSTITUTIONS

ECB: Monetary policy statement

Inflation continues to decline but is still expected to remain too high for too long. To reinforce progress towards the target, the European Central Bank (ECB) Governing Council decided to raise the three key ECB interest rates by 25 basis points. Read more

EBA: Response to the EU Parliament’s 2021 Discharge Report

The European Banking Authority (EBA) published an Opinion in response to the observations made by the European Parliament in its 2021 Discharge Report. Out of 30 observations, 26 have already been implemented or do not require follow-up action. Read more

EC: Consultation on the implementation of the SFDR

The European Commission (EC) launched a targeted consultation on the implementation of the Sustainable Finance Disclosures Regulation (SFDR). The deadline for participating in both consultations is 15 December 2023. Read more

FROM THE EBF  

New EBF Vacancies! Work with us!

Visit our Vacancies page to learn more about the opening positions at the EBF. Read more

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

European Banking Federation