EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 2 May 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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âUsing the financial competence framework for adults in the European Unionâ webinar by the European Commission and OECD coming on 5 May! |
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| | In January 2022, the European Commission and the OECDâs International Network on Financial Education (INFE) published the Financial competence framework for adults in the European Union. This promotes a shared understanding of the financial competencies adults need to make sound decisions on personal finance. On Thursday 5 May, the European Commission and INFE are hosting a webinar for adult education practitioners who use or plan to use the framework in adult education initiatives. The objective is to facilitate the exchange of experiences and lessons learned by practitioners. Read more |
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The EBF is an affiliate member of the
OECD International Network on Financial Education. |
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FROM THE MEDIA
Reuters: ECB backs EU plan to end "blind spots" over foreign banks
The European Central Bank (ECB) backed the European Union proposals to toughen scrutiny of foreign lenders in the bloc, which has become a thorny issue since Brexit. The proposals also set out when an existing foreign bank branch should become a subsidiary, Reuters reports. According to the ECB, this should not be an 'automatic' procedure but based on an assessment by supervisors once a size threshold is reached. Read more
Finextra: The ECB issues expression of interest for CBDC prototype user interfaces
The European Central Bank (ECB) has launched a call for expression of interest for payment service providers, banks, and technology companies to join an exercise to develop prototype user interfaces for a digital euro. As reported by Finextra, the ECB specifies 28 separate possible use cases, covering all aspects of the design process, from QR codes to user authentication, EID, and KYC, among others. Read more
Bloomberg: Germany to back EU push to sanction Russiaâs Sberbank
Germany is ready to consider including Sberbank, Russiaâs largest bank, in the European Unionâs next sanctions package that is currently being finalized, according to people familiar with the matter heard by Bloomberg. The sixth round, which will also likely include a phased-in embargo on Russian oil, comes after Russian President Vladimir Putin started cutting off gas deliveries to Poland and Bulgaria. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 2 May
European Parliament plenary session (Strasbourg) Council Working Party on Tax Questions (Indirect Taxation) Tuesday 3 May Council Horizontal Working Party on Cyber Issues Wednesday 4 May Thursday 5 May Friday 6 May
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS SBA: The SBA welcomes two new members Swiss Bankers Prepaid Services and Abanca Corporacion Bancaria are now members of the Swiss Bankers Association (SBA). âWe are delighted to welcome these two establishments to our ranks, which will strengthen our expertise with a view to creating a future-oriented financial centreâ, underlines Jörg Gasser, CEO of the SBA. Read more (FR)
AEB: Spanish Chamber of Commerce and AEB join forces to promote mediation and arbitration
The Spanish Chamber of Commerce and the Spanish Banking Association (AEB) have signed a collaboration agreement to "promote arbitration and mediation as alternative dispute resolution methods to the courts of law". The agreement provides for the implementation of various joint initiatives on the dissemination of mediation and arbitration, as effective tools "for business competitiveness". Read more (ES)
LBA: New ATMs in the regions
Commercial banks, credit unions, and the Lithuanian Banking Association (LBA) are actively implementing the Memorandum of Understanding signed with the Bank of Lithuania on increasing the availability of cash by installing ATMs across 100 locations in Lithuania. Financial market participants agreed to ensure that, within one year, 90% of the Lithuanian population will have a cash withdrawal point within 10 km of their residence. Read more (LV) |
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FROM THE INSTITUTIONS ECB: 2021 Annual Report The European Central Bank (ECB) has published its 2021 Annual Report. The ECB Vice-President Luis de Guindos presented the report to the European Parliament while also discussing the current economic outlook and the impact of the war in Ukraine on the European financial sector. Read more SRB: MREL dashboard Q4.2021 The Single Resolution Board (SRB) published its minimum requirement for own funds and eligible liabilities (MREL) dashboard covering the reporting period Q4.2021. âData shows that banks continue to make progress in building up their levels of MREL, which is funding that acts as a shock absorber in a time of crisis,â said SRB Chair Elke König. Read more European Council: Daisy chains: provisional agreement on a revised bank resolution framework To help ensure that banks remain resilient and capable of withstanding future shocks, the Council presidency and the European Parliament reached a provisional agreement on a draft regulation that will strengthen the prudential regulatory framework for credit institutions operating in the EU. The âDaisy Chainâ proposal introduces targeted adjustments that will help improve the resolvability of bank institutions. Read more |
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FROM THE EBF this week
EBF response to ESMA consultation on the review of MIFID II suitability guidelines
While the EBF welcomes the ultimate objective of the European legislators and supervisors of promoting sustainable development, EBF would like to stress that the new regulation gives rise to a number of inconsistencies, concerns, and doubts which we believe will hinder its implementation. Read more
EBF Position on MIFIR Review
The review presented by the European Commission is of critical importance to increase the competitiveness of financial market actors operating in the EU and the attractiveness of the Unionâs regulatory framework. With these objectives in mind, the EBF finds it regrettable that several of the MiFIR reform proposals both for the equity and the non-equity transparency regimes are based on expected benefits that were neither subject to an in-depth analysis nor to a comprehensive impact assessment. Read more
EBF response to EBA Discussion Paper on its preliminary observations on selected payment fraud data under the Payment Services Directive
The EBF has recently responded to the European Banking Authority (EBA)âs Discussion Paper on its preliminary observations on selected payment fraud data under the Payment Services Directive. The EBFâs response highlights that the data collected by the EBA reflects a low level of incidence of fraud, showing that the safety measures taken by European Payment Service Providers are adequate. Read more
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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