EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 19 February 2024 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: EU push for integrated capital market oversight
Euro-area finance ministers called for more integrated supervision of capital markets across the European Union with the aim of strengthening risk sharing and reducing red tape for businesses and investors. According to a draft statement seen by Bloomberg, ministers want the European Commission to come up with proposals for single supervision for entities that want it and have significant cross-border activity. This would be done by the European Securities and Markets Authority. Read more
Finextra: European banks are challenging the challengers
New research finds that European banks are fighting back against competition from platform players, neobanks, and payment providers. According to the study, almost half of Europe’s banks (43%) are investing in fintech start-ups, and a third (36%) are building their own greenfield digital bank or fintech company, Finextra reports. Read more
EU Observer: ECB keeps rates high, despite flagging economy
Despite wages barely having contributed to inflation over the past years, European Central Bank (ECB) president Christine Lagarde warned against lowering interest rates too soon because wages might drive up inflation again later this year. Because of worsening economic prospects, rate watchers are betting that the ECB will start lowering interest rates this year. But Lagarde refused to commit to a date, as reported by the EU Observer. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 19 February
Tuesday 20 February Wednesday 21 February
Thursday 22 February
Friday 23 February
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FROM EBF MEMBERS
SBA: Expectations for the Swiss-EU negotiating mandate
The Swiss Bankers Association (SBA) welcomes the adoption of the draft negotiating mandate between Switzerland and the European Union (EU). Switzerland has taken an important step towards the stabilization and development of its relations with the EU. For the Swiss financial center, market access and the resumption of regulatory dialogue in financial matters are two major challenges. Read more (FR)
AEB: Meeting of social action collaborators of AEB Foundation
The Spanish Banking Association (AEB) hosted the first annual meeting of its social action partners to boost the scope and number of beneficiaries of its initiatives in the coming months. The AEB Foundation is currently carrying out six social action projects to assist all groups needing financial education, inclusion initiatives, or digital training. Read more (ES)
BdB: Beware of these dangerous phishing attacks
The Association of German Banks (BdB) published some tips on how to protect yourself against phishing attacks. Importantly, if you are unsure whether a message really comes from the company, contact them directly via the official channels Read more (DE) |
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FROM THE INSTITUTIONS
ECB: Speech by Christine Lagarde at the European Parliament
"We will continue to follow a data-dependent approach to determining the appropriate level and duration of restriction," says Christine Lagarde, President of the European Central Bank (ECB), at the Hearing of the Committee on Economic and Monetary Affairs of the European Parliament. The upcoming European elections will be a chance to set out a new, ambitious agenda to further deepen our Economic and Monetary Union, she added. Read more
ESMA: ESG funds during the 2020 COVID-19 market turmoil
This paper by the European Securities and Markets Authority (ESMA) analyses the performance and flows of ESG active equity UCITS funds relative to their non-ESG peers in a period of financial distress, corresponding to the first wave of COVID-19. Read more
ESRB: Public money as a store of value, heterogeneous beliefs and banks: implications of CBDC
The European Systemic Risk Board (ESRB) published a paper on public money as a store of value. According to the study, the introduction of a central bank digital currency (CBDC) lowers the storage cost of public money and induces partial bank disintermediation, which is mitigated by an increase in relative maturity transformation. Read more |
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FROM THE EBF
EBF: European business calls for deepening the EU Single Market and renewing the dynamic of European integration
In the Joint Statement issued today, this coalition of European associations underlines the need for renewed focus on deepening the Single Market. The statement puts forward clear logic for fresh political investment in the Single Market and its relevance for citizens, companies, and the future of the EU. Read more
EBF: Response to Call for Evidence on the Report on the GDPR (Art. 97)
This response complements the questionnaire response provided to the European Commission Multi-Stakeholder Expert Group of which the European Banking Federation is a member of. The introduction of the GDPR resulted in a significant increase in the attention to and the application of data protection rules. Read more
EBF: EFRAG ESRS Implementation Guidance consultation
The European Banking Federation (EBF) welcomes EFRAG’s development of the ESRS implementation guidance considering the significant complexity of the standards and the importance of ensuring the preparation of comparable and qualitative disclosures. The future and timely elaboration of specific guidance for financial institutions would be equally important and necessary given the role they have in financing the economy. 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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