EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 31 October 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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The EBF newsletter takes a short break! We will be back on Wednesday 3 November 2022! |
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FROM THE MEDIA CNBC: ECB hikes rates by 75 basis points and scales back support for European banks The European Central Bank (ECB) announced a 75-basis-point interest rate hike while also scaling back support for European banks. As reported by CNBC, the ECB announced that it is changing the terms and conditions of its targeted longer-term refinancing operations, or TLTROs. Read more
Reuters: Villeroy calls for integrating climate stress tests into Basel
Climate change stress tests and transition plans for financial institutions globally should be integrated into the Basel capital requirements on risk governance, European Central Bank (ECB) policymaker Francois Villeroy de Galhau said. "In my view, the simplest and most international way forward is to integrate them into Basel capital requirements," he said. According to Reuters, he added they could be initially integrated under the Basel rules' pillar 2 on governance risk. Read more
EURACTIV: Constâncio calls for gradual adoption of monetary policy
Monetary policy should be gradual and, after a certain level of interest rates, should wait to analyze the effects as it takes time to produce results, the former vice-president of the European Central Bank (ECB), Vítor Constâncio, said. On rising interest rates, he warned that the high level of public and private debt meant that significant increases in interest rates would create “significant risks” to financial stability, EURACTIV writes. Read more |
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FINANCIAL REGULATION AGENDA for next week Monday 31 October Tuesday 1 November
Wednesday 2 November
Thursday 3 November Friday 4 November
For a full-year overview of key financial regulation events: click here
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REGISTRATIONS ARE OPEN The Road to Basel IV: Navigating the Challenges Facing European Banks |
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 | The last 2022 joint webinar between EBF and S&P Global Market Intelligence is coming on 6 December! During the event, we will look back at 14 years of Basel capital reforms in Europe and discuss why those reforms were necessary and what has been achieved so far. Our speakers will also explore the expected impact of the final Basel capital rules, known as Basel IV, on European banks. |
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FROM EBF MEMBERS Febelfin: Falling credit demand leads to first slight decline in lending In the third quarter of 2022 , just over 61,000 mortgage credit agreements were concluded for a total amount of more than EUR 10.5 billion (excluding refinancing). This represents a decrease in the number of credit agreements of almost 11% compared to the third quarter of last year, reports Febelfin. Read more(NL)
BdB: ECB is acting decisively on interest rate Henriette Peucker, Deputy Chief Executive officer of the Association of German Banks (Bdb), shared her view on the European Central Bank (ECB)’s decision to raise interest rates by 75 basis points. She explained that the ECB is resolutely continuing its rate hike process because inflation in the euro area is proving to be more and more stubborn. In particular, it is an important tool to counteract the current inflation dynamic and to limit the risk of second and third-round effects. Read more(DE) UK Finance: Learnings about a half-year fraud report UK Finance’s latest half-year Fraud update explores the scale of fraud in the UK and the different methods used by criminals to exploit victims. The report highlights that over £600 million was stolen through fraud and scams in the first half of this year, presenting a quick summary of what these learning about the fight against fraudsters. Read more |
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FROM THE INSTITUTIONS ECB: Monetary policy decisions The European Central Bank (ECB) published a press release on the decision of the Governing Council to raise the three key ECB interest rates by 75 basis points. With this third major policy rate increase, the Governing Council has made substantial progress in withdrawing monetary policy accommodation. Read more ESMA: ESG disclosures as a new union strategic supervisory priority The European Securities and Markets Authority (ESMA) is changing its Union Strategic Supervisory Priorities (USSPs) to include environmental, social, and governance (ESG) disclosures alongside market data quality. The new priority of ESG disclosures replaces costs and performance for retail investment products and represents an important step in the implementation of the ESMA strategy, which gives a prominent role to sustainable finance. Read more EBA: Priorities for prudential supervisors for 2023 The European Banking Authority (EBA) published the European Supervisory Examination Programme (ESEP) for 2023, which identifies key topics for supervisory attention across the EU. The ESEP is part of an annual cycle and contributes to enhancing supervisory convergence by providing common directions and focus areas for supervisors, which helps them shape their prudential supervisory priorities and respective practices. Read more |
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FROM THE EBF this week
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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