EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 18 April 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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We are taking a short break! The EBF will be back with its Morning Brief on Wednesday, 20 April! |
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FROM THE MEDIA FT: ECB sticks to plan for gradual tightening of monetary policy As reported by the Financial Times (FT), the European Central Bank (ECB) stuck to its gradual timetable for winding down bond purchases in the third quarter without putting a firm date on when it will raise interest rates despite the record-high eurozone inflation. According to the central bank, any rate rise would be “gradual” and would only take place “some time” after it stops net bond purchases. Read more
Bloomberg: UK banks plan sharp cut in mortgage lending
British banks plan a sharp cut in mortgage lending over the next three months amid fears that borrowers will start to default on their debts, Bloomberg reports. Despite plans to reduce the supply of lending, banks expect demand for mortgages to increase and plan to step up the provision of unsecured debt like personal loans and credit card debt. Read more
Reuters: Euro FX reserve demand returns after years of neglect
The euro's share of world currency reserves has been depressed for years as negative eurozone interest rates and bond yields have spurred huge bond outflows, Reuters points out. But these dynamics are reversing, and the euro is catching the eye of reserve managers again. "If the ECB is beginning to normalize policy, that will improve liquidity and raise returns for investors," said Morgan Stanley strategist David Adams. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 18 April
Tuesday 19 April Wednesday 20 April Thursday 21 April
Friday 22 April
For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS BdB: ECB must respond to high inflation and end negative interest rates this year, says Ossig Following the European Central Bank (ECB)'s Governing Council meeting and the release of the monetary policy decisions, Chief Executive of the Association of German Banks (BdB) Christian Ossig commented, "The ECB's decision to end bond purchases in the third quarter is correct and consistent. However, this is not enough." Read more (DE) AAB: Money Quiz Award Ceremony The Albanian Banking Association (AAB), in cooperation with the Bank of Albania and the Deposit Insurance Agency, organized the award ceremony for the winners of the national finals of the European Money Quiz. The winning team will compete representing Albania in the European Money Quiz final on May 10. Read more (SQ) UK Finance: People under 35 more at risk from impersonation scams According to a new survey by UK Finance, people under 35 are more likely than older age groups to have been targeted in an impersonation scam to steal their personal and financial information. 71 percent of 18 to 34-year-olds surveyed said they had been contacted by an impersonation scammer, with 73 percent of those targeted saying they had subsequently been persuaded to either send money or share personal information. Read more |
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FROM THE INSTITUTIONS ECB: Monetary policy decisions Russia’s aggression in Ukraine is causing enormous suffering and is affecting the economy, in Europe and beyond. The European Central Bank (ECB)’s Governing Council judged that incoming data reinforce expectations that net asset purchases under its asset purchase programme should be concluded in the third quarter. Looking ahead, the ECB’s monetary policy will depend on the incoming data and the Governing Council’s evolving assessment of the outlook. In the current conditions of high uncertainty, the Governing Council will maintain optionality, gradualism and flexibility in the conduct of monetary policy. Read more EIOPA: Consultation on draft Guidelines on integrating the customer’s sustainability preferences in the suitability assessment under the IDD The European Insurance and Occupational Pensions Authority (EIOPA) has launched a public consultation on draft Guidelines on integrating the customer’s sustainability preferences in the suitability assessment under the IDD. EIOPA is also considering the development of user-friendly guides for both consumers and insurance undertakings and insurance intermediaries to facilitate an informed sales process for sustainable products. Read more
BIS: Building a robust and diversified clearing ecosystem
Fabio Panetta, Member of the Executive Board of the European Central Bank (ECB) discussed how to foster the resilience of CCPs. "We will continue to closely monitor the volatility in cleared markets, especially in sectors with significant exposures to Russia, such as energy and commodity markets, but also linked to the wider macroeconomic and financial effects of the current geopolitical situation," he says in his speech as published by the Bank for International Settlements (BIS). Read more |
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FROM THE EBF this week
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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