EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 6 February 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

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FROM THE MEDIA 

Reuters: Banks call EU to cost plans to grab euro clearing from London

Asset managers, hedge funds, and banks called on the EU to properly cost its plans to force market participants to shift derivatives clearing business from London to mandatory accounts in the bloc. As reported by Reuters, they added that a strategy based on organic growth and market-driven solutions would best support the competitiveness of EU clearing houses in a global clearing marketplace. Read more

POLITICO: ECB lifts rates by 0.5% points, pledges repeat in March

The European Central Bank (ECB) raised interest rates by 0.5 percentage points taking the key deposit rate to 2.5 percent and it intends to raise rates by the same magnitude in March, POLITICO reports. The ECB’s announcement comes on the heels of a similar move by the Bank of England. Read more

S&P Global Market Intelligence: Santander banks on Europe to drive double-digit revenue growth for group in 2023

The impact of rising interest rates and improving performance across Banco Santander's businesses in Europe will help the bank achieve a double-digit increase in revenues in 2023, chair Ana Botín said. The bank's European NII grew by almost 19% to €12.57 billion in 2022, S&P Global Market Intelligence data shows. Read more

FINANCIAL REGULATION AGENDA for next week

Monday 6 February

• Council Counsellors/Financial Services Attachés

• European Parliament Committee on Economic and Monetary Affairs

• Deadline for submissions on the European Banking Authority consultation on effective management of ML/TF risks when providing access to financial services

• Joint ESAs public event on DORA – Technical discussion

• Deutsche Bundesbank ‘Macroeconomic analysis and forecasting’ course

• A joint HBA EWOB 'What Next? The Horizon Beyond Senior Executive Level' Senior Leadership Event

Tuesday 7 February

• Council Working Party of Financial Counsellors

• Bruegel ‘Funding the Green Deal: green bonds and alternative options for EU sovereign debt managers’ event

• ENISA Cybersecurity Standardisation Conference 2023

• Bruegel ‘International cooperation in digital markets’ event

• Trade4SD ‘SDGs and EU trade policies. Situation and challenges’ webinar’

• Afore consulting 7th Annual FinTech and Regulation Conference

Wednesday 8 February

• Council Horizontal Working Party on Cyber Issues

• Council Trade Policy Committee — Experts (Services and Investment)

• EBA workshop on climate risk stress testing 2023

• BIS 'Big techs in finance – implications for public policy' conference

• PIIE ‘Lessons for systemic liquidity risk from recent crises’ event

• Lexxion ‘The Recovery and Resilience Facility: Understanding its Complexities’ event

• Bruegel ‘Prospects of Ukraine’s green recovery’ event

• Onward ‘Connecting to Opportunity: Delivering Digital Infrastructure to Boost Economic Growth’ event

• Afore consulting 7th Annual FinTech and Regulation Conference

• European Policy Centre ‘EU-China relations in 2023: Opportunities and challenges’ event

• UK in a Changing Europe ’30 years after Maastricht’ event

Thursday 9 February

• Special European Council meeting

• Council Working Party on Tax Questions (Indirect Taxation)

• European Banking Authority hearing on the draft ITS specifying the benchmarking data collection for the 2024 exercise

• EBA workshop on climate risk stress testing 2023

• BIS 'Big techs in finance – implications for public policy' conference

• EESC ‘The right to a healthy environment in the EU, especially in the context of the war in Ukraine’ hearing

• The Financial Times 'Leveraging Digitisation to Amplify Growth Opportunities' event

• GSMA ‘Network rationalisation: making way for 4G and 5G’ event

Friday 10 February

• Council Working Party on International Environment Issues

• European Policy Centre ‘Special European Council: Potential implications for migration and the EU’s economy’ event

• SUERF and BIS 'Gauging (dis)inflation pressures: Comparing tools and current findings' workshop

For a full-year overview of key financial regulation events: click here 

FROM EBF MEMBERS

BPFI: Fernando Vicario appointed Chair of the Federation of International Banks in Ireland

Fernando Vicario, CEO of Bank of America Europe and Country Executive for Ireland has been appointed Chair of the Federation of International Banks in Ireland (FIBI) for a two-year tenure. FIBI is the international banking division of Banking & Payments Federation Ireland (BPFI). Read more

BdB: ECB stays on course

"The European Central Bank (ECB) is continuing its clear course against inflation in the euro area. Today's interest rate decision decisively strengthens confidence in the course of the ECB," says Henriette Peucker, Deputy Chief Executive at the Association of German Banks (BdB). "The emerging decline in inflation rates is encouraging, but it would be premature to interpret this development as the all-clear," she added. Read more (DE)

Finance Denmark: Historically expensive firing season is not over yet

While the price of energy has apparently stopped skyrocketing, heating bills for the current season will remain significantly higher than before the war in Ukraine began. This is what a new analysis from Finance Denmark shows. Read more (DK)

FROM THE INSTITUTIONS

ECB: Monetary policy statement at a glance

The European Central Bank (ECB) has raised interest rates by 0.5 percentage points. Besides, the ECB will start to reduce the large amounts of bonds bought under the asset purchase program over the last few years. Read more

ESMA: Opinion on the trading venue perimeter

The European Securities and Markets Authority (ESMA) has published the Final Report on the Opinion on the trading venue perimeter, providing guidance on when specific systems and facilities qualify as multilateral and therefore should seek authorization as a trading venue. The opinion builds on the MiFID II definition of multilateral systems and clarifies how to interpret the elements of the definition. Read more

EC: EU support and sectorial cooperation with Ukraine

The President of the European Commission (EC), Ursula von der Leyen, and the College of Commissioners have traveled to Kyiv and sent a strong signal of the EU's unwavering commitment to stand by Ukraine for as long as it takes. In this framework, the Commission and Ukraine signed its association with the Single Market Programme. Read more

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

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