EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 30 January 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: Ease capital rules on EU banks to boost lending
EU banks could increase lending by almost a third if regulators applied capital requirements in the same way as in the US, a study from the European Banking Federation (EBF) and consultants Oliver Wyman said. "Policymakers should redouble their efforts to complete the banking and capital markets unions," the report seen by Reuters said. Read more
FT: Brussels looks at EU ban on inducements for financial advisers
Mairead McGuinness, the European commissioner for financial stability, financial services, and the capital markets union, said an EU-wide ban on inducements could enable greater retail investment in exchange-traded funds, leading to better returns for consumers. As reported by the Financial Times (FT), she said inducements paid to financial advisers by product manufacturers lead to poor outcomes for retail investors in the EU. Read more
Bloomberg: ECB delivering two half-point rate hikes
Back-to-back interest-rate increases of 50 basis points are approaching from the European Central Bank (ECB) until May, according to a Bloomberg survey of economists. The ECB’s balance sheet is seen shrinking to €6.9 trillion at year-end, €6.15 trillion in late 2024, and €5 trillion in the longer term. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 30 January
Tuesday 31 January Council Working Party on Tax Questions (Indirect Taxation) Council Working Party on Tax Questions (High Level) Wednesday 1 February European Parliament plenary session (Brussels) Council Horizontal Working Party on Cyber Issues Thursday 2 February Council Working Party on Tax Questions (Indirect Taxation) European Cyber Security Organisation (ECSO) Interreg Europe CYBER event Friday 3 February Council Horizontal Working Party on Cyber Issues European Council of the European Union EU-Ukraine summit
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS SBA: Jörg Gasser will leave the SBA A change has taken place at the head of the Executive Committee of the Swiss Bankers Association (SBA). The current CEO, Jörg Gasser, has indeed decided to give a new direction to his career. His departure will take place during the first quarter of 2023. Read more (FR)
Febelfin: Search engine fraud
Search engine fraud is currently on the rise and is proving to be a common modus operandi of cybercriminals who try to exploit search engines to lead you to fake sites. Febelfin warns against this type of fraud and recommends that you do not use search engines to navigate to your online bank's website. Read more (FR)
BdB: Capital-forming benefits
The Association of German Banks (BdB) discusses capital-forming benefits as instruments to help employees build wealth. They are part of the wages and usually flow directly into the form of investment chosen by the employee. The capital-forming benefits are voluntary benefits from the employer. Read more (DE) |
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FROM THE INSTITUTIONS
EBA: Opinion to the European Commission on the draft ESRS
The European Banking Authority (EBA) published an Opinion on the draft European Sustainability Reporting Standards (ESRS) developed by the European Financial Reporting Advisory Group (EFRAG). The EBA acknowledges that the draft ESRS are consistent with international standards and relevant EU Regulation and welcomes the level of alignment with the Pillar 3 disclosure requirements reached at this stage. Read more
ESMA: Opinion on the draft ESRS
The European Securities and Markets Authority (ESMA) issued an opinion on the first set of draft European Sustainability Reporting Standards (ESRS Set 1) by the European Financial Reporting Advisory Group (EFRAG). ESMA finds that ESRS Set 1 broadly meets the objective of being conducive to investor protection and not undermining financial stability. Read more
EIOPA: Opinion on ESRS
The European Insurance and Occupational Pensions Authority (EIOPA) has published its Opinion on the European Financial Reporting Advisory Group’s technical advice concerning European Sustainability Reporting Standards (ESRS) following the request of the European Commission. Read more |
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FROM THE EBF this week
EBF: New study outlines path to unlocking major bank financing and economic growth
The European Banking Federation (EBF) and Oliver Wyman today launched a study exploring the EU banking regulatory and supervisory framework and its impact on banks and the economy. The reference study concludes that a review of current capital requirements and supervisory processes could provide capacity for around EUR 4 trillion additional bank lending to finance the green and digital transitions and strengthen the competitiveness of the EU 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.
For questions or suggestions contact v[email protected]
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