EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 9 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

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FROM THE MEDIA 

FT: Regulators to step up scrutiny of risks outside banking system

Global regulators are set to sharpen their scrutiny of hedge funds, clearing houses, and pension assets this year after a run of crises has shifted watchdogs’ focus towards risks outside the banking system, the Financial Times (FT) reports. The disparate group, loosely defined as “non-bank financial institutions”, has been thrust into the spotlight after a series of market ructions over the past two years. Read more

Reuters: ECB interest rates should peak by summer

The European Central Bank (ECB) interest rates should reach a peak by this summer and hikes should not be "too mechanical", French ECB policymaker Francois Villeroy de Galhau said. According to Reuters, the ECB would then be prepared to remain at the terminal rate as long necessary. Read more

S&P Global Market Intelligence: US, European i-banks' IPO revenues to rebound slowly in 2023 after dismal year

The leading US and European investment banks face another challenging year for IPO and equity underwriting revenues as markets remain choppy after a dreary 2022. Global IPO activity in 2022 by value was the weakest in five years, data from S&P Global Market Intelligence shows. Read more

FINANCIAL REGULATION AGENDA for next week

Monday 9 January

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

• Council Working Party on Tax Questions (Direct Taxation)

• European Parliament Subcommittee on Tax Matters

Tuesday 10 January

• European Banking Authority hearing on draft guidelines amending the ML/TF risk factors guidelines and draft guidelines on effective management of ML/TF risks and access to financial services

• Council Working Party of Financial Counsellors

• Chatham House ‘Gender mainstreaming the proposed cybercrime convention: Commentary on the consolidated draft’ event

• European Commissioner Margrethe Vestager meets with CEO of TikTok Shou Zi Chew

Wednesday 11 January

• European Banking Authority hearing on the consultation paper on resolvability testing

• Council Horizontal Working Party on Cyber Issues

• PIIE ‘Preparing the economy and financial system for hybrid war: Finland’s experience’ event

• IRSG ‘Financial services priorities for the Japanese G7 and Indian G20 presidencies’ report launch webinar

• Bruegel 'Coherent and consistent implementation of EU digital policies' event

• EEB & Naider 'Financial instruments, economic incentives and drivers for a sustainable built environment' launch event

Thursday 12 January

• European Parliament Committee on Economic and Monetary Affairs

• Bruegel 'Global cooperation in times of geopolitical strife' event

Friday 13 January

• Council Working Party on Tax Questions (Indirect Taxation)

• Council Horizontal Working Party on Cyber Issues

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

FROM EBF MEMBERS

BdB: Saving tips

Saving is not an easy task. For this reason, the Association of German Banks (BdB) shares four savings tips that anyone can put into practice. Read more (DE)

ABBL: EBA roadmap on Sustainable Finance 

The European Banking Authority (EBA) published its roadmap on Sustainable Finance. As reported by the Luxembourg Banker's Association (ABBL), the roadmap outlines the objectives and key milestones for delivering EBA's various mandates and actions in the field, building on and replacing its first action plan published in December 2019. Read more

Finance Norway: Trends for the Government's pension fund abroad

Last autumn, the Ministry of Finance submitted for consultation a report from a publicly appointed committee, led by Ulf Sverdrup. Finans Norway has now submitted consultation responses to the committee and supports the committee's assessments and recommendations. Read more (NO)

FROM THE INSTITUTIONS

EC: European Single Market is turning 30

This year, the EU celebrates the 30th anniversary of its Single Market, one of the major achievements of European integration, and one of its key drivers. To ensure that the Single Market remains a common good that delivers for all people, the European Commission (EC) continuously works on its development. Read more

ECB: Caveat emptor does not apply to crypto 

Trading in unbacked digital assets should be treated by regulators like gambling, writes Fabio Panetta, Member of the Executive Board of the European Central Bank (ECB). 'We need a risk-free and dependable digital settlement asset, which can only be provided by central bank money,' he says. Read more

BIS: Central bank policy rates

The Bank for International Settlements (BIS) has published its latest update on central bank policy rates. Statistics results from daily data. 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