EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 28 March 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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Coming next week: EBF and SAS 'Demystifying AI for Anti-Money Laundering' Masterclass |
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 | The European Banking Federation (EBF) and SAS have partnered to help banks fight financial crime with innovative technologies. As a result of this collaboration, we launched a virtual AML Masterclass series to spotlight how artificial intelligence (AI) and machine learning can boost the effectiveness of banks’ efforts in fighting financial crime. Next week, the inaugural session will focus on innovations with machine learning and AI in AML transaction monitoring. On 31 March, join our experts and explore the opportunities for enhancing AML transactions via shared transaction monitoring facilities while discussing how these fit into the current regulatory framework. Register now |
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FROM THE MEDIA FT: ECB to tighten banks’ access to cheap funding The European Central Bank (ECB) will end most of the more relaxed bank funding rules it introduced in response to the coronavirus pandemic, further reducing its economic and financial support despite fears the war in Ukraine will cause significant disruption. The move indicates that ECB officials are confident that the eurozone’s financial system shows few signs of excessive stress, the Financial Times (FT) reports. Read more
Reuters: BoE sketches out first regulatory approach to crypto
According to Reuters, the Bank of England (BoE) began sketching out Britain's first regulatory framework for crypto assets, saying that although the sector remained small, its rapid growth could pose risks to financial stability in the future if left unregulated. Regulation for the sector should be based on "equivalence", meaning that crypto-related financial services that perform a similar function to existing financial services should be subject to the same laws, BoE's Financial Policy Committee (FPC) said. Read more
S&P Global Market Intelligence: More than 80% of Russia's banking sector subject to sanctions over the Ukraine war
The vast majority of Russia's commercial banking sector is subject to international sanctions as a result of the country's invasion of Ukraine, S&P Global Market Intelligence data shows. The EU and the U.K. froze the assets of most of the banks disconnected from Swift, while the U.S. imposed full blocking sanctions on those banks. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 28 March
Tuesday 29 March Wednesday 30 March Thursday 31 March Friday 1 April For a full-year overview of key financial regulation events: click here |
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EUROPEAN MONEY WEEK 2022 Supercharging Financial skills ⚡️ |
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To build a resilient and inclusive society, we must supercharge Europe’s financial skills! This European Money Week, we have invited people to play our quiz to test their knowledge and find out how financial literacy can help people navigate challenging times and prepare for the future.
Today is your last chance to
visit our installation in Avenue Marnix Esplanade in Brussels!
Cannot make it? Take the online quiz here. |  |
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FROM EBF MEMBERS HUB: European Money Quiz in Croatia The Croatian Banking Association (HUB) held the national European Money Quiz competition during the European Money Week. Over 1,100 students from 68 different cities took part in the quiz. "We are extremely proud of all the competitors because their participation showed successful teamwork, but also an understanding of the importance of financial education", said HUB Director Zdenko Adrović. Read more (HR)
Finance Denmark: Criminals lure Danes into investment trap
Every year, Danes are fooled into thinking they can make easy money on quick investments in cryptocurrencies. While victims of investment fraud lost a total of 59 million kroner in 2021, banks stopped 100 million kroner from landing in the wrong hands, says Finance Denmark. "Banks are focused on reducing fraud," says Michael Busk-Jepsen, Director of Digitalisation at Finance Denmark. Read more (DK)
AEB: Launch of Women in Banking to promote the role of women in Spanish banking
During the inauguration of Women in Banking (WIB), supported by the Spanish Banking Association (AEB), female leaders in the Spanish financial sector spoke about the growing presence of women in banking and presented WIB's strategy to give visibility to women in the sector. Read more (ES) |
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FROM THE INSTITUTIONS ECB: Phasing out temporary pandemic collateral easing measures The European Central Bank (ECB) has announced that the pandemic collateral easing measures introduced in April 2020 will be gradually phased out in three steps between July 2022 and March 2024. The phasing out of measures will gradually restore Eurosystem’s pre-pandemic risk tolerance and avoid collateral availability cliff effects. Read more
ESMA: REGIS-TR fined for EMIR data breaches
The European Securities and Markets Authority (ESMA) has fined trade repository REGIS-TR €186,000 for eight breaches of the European Market Infrastructure Regulation (EMIR). The breaches, committed between 2017 and 2020, relate to failures in ensuring the integrity of data and providing direct and immediate access to regulators. Five out of eight breaches were found to have resulted from negligence on the part of REGIS-TR. Read more EBA: Call for papers for the 2022 Policy Research Workshop The European Banking Authority (EBA) launched a call for research papers in view of its 11th Policy Research Workshop taking place on 26-27 October 2022 on the topic "Technological Innovation, Climate Finance, and Banking Regulation". The paper submission deadline is 24 June 2022. Read more |
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FROM THE EBF this week
EBF feedback to the European Commission consultation on the review of the central clearing framework in the EU
EBF welcomes the extension of equivalence for UK CCPs until June 2025 and the European Commission’s consultation on the review of the clearing framework in the EU. The EBF would like to highlight that any forced relocation strategy or other coercive measures will not achieve, and would likely undermine, the objective of a competitive and resilient EU clearing as such strategy would, by definition, only capture EU market participants due to the territoriality of EMIR. 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]
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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