EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 31 January 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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ESAs high-level conference on financial education and literacy |
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| | The joint ESAs conference will bring together high-level government representatives as well as experts from public authorities, academia, NGOs, consumer associations, and the industry, to exchange ideas, stimulate the discussion and raise awareness on financial education and literacy. The discussion will focus on four topics: financial education and Capital Markets Union; digitalization with a specific focus on cybersecurity, scams, and fraud; financial resilience of vulnerable groups; and sustainable finance. Discover more |
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FINANCIAL REGULATION AGENDA for next week
Monday 31 January
Council Working Party on Tax Questions (Indirect Taxation) Tuesday 1 February European Parliament Subcommittee on Tax Matters Council Horizontal Working Party on Cyber Issues EBF Corporate Income Tax WG online meeting Wednesday 2 February EBF ESG Risk TF online meeting
Thursday 3 February
Friday 4 February Council Working party on Tax Questions (High Level) Council Horizontal Working Party on Cyber Issues EBF Retail Committee online meeting
For a full-year overview of key financial regulation events: click here
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FROM THE MEDIA Bloomberg: EU banks to opt-out of certain elements of the taxonomy The European Investment Bank (EIB) may steer clear of proposals to put a green label on gas and nuclear projects, according to EIB President Werner Hoyer. This highlights how major banks and investors could choose to opt out of certain elements of the taxonomy. According to Bloomberg, the danger for the EU is that it creates a two-speed model for its environmental finance plans. Read more
Finextra: ECB to run climate risk stress test
As reported by Finextra, the European Central Bank (ECB) has launched a climate risk stress test to assess how prepared banks are for dealing with financial and economic shocks stemming from global warming. Although the test does not have direct implications for banks’ capital levels, it could indirectly impact Pillar 2 requirements through the Supervisory Risk and Evaluation Process (SREP) scores. Read more
Reuters: European banks eye comeback against Wall Street
Replenished firepower and higher interest rates will give Europe's banks an ideal opportunity to reverse recent underperformance and claw back market share from rivals in the United States. Rising rates, surplus capital offer signs of hope for Europe, Reuters says. Read more. |
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FROM EBF MEMBERS Finance Finland: Financial competence and digital skills are intertwined In her speech at the opening of the Bank of Finland's Financial Literacy Centre, Finance Minister Annika Saarikko emphasized the link between digital and financial skills, Finance Finland reports. "Financial literacy is a civic skill that must be made available to all Finns on an equal basis", she says. Read more (FI)
Finance Norway: Financial institutions less exposed to climate risk
A survey of climate risk shows that Norwegian financial institutions are less exposed to sectors that will be largely affected by climate change. "The great interest in participating in the mapping of climate risk using the Paris Agreement Capital Transition Assessment (PACTA) tool shows that Norwegian companies have sustainability high on the agenda", says Agathe Schjetlein, Director of Sustainability at Finance Norway. Read more (NO) ABI: Value of loan requests rises to around 223 billion euro According to the Italian Banking Association (ABI), requests for guarantees for new bank loans for micro, small and medium-sized enterprises (SMEs) submitted to the SME Guarantee Fund has risen to around €223 billion, and the volumes of guaranteed loans through SACE's 'Guarantee Italy' reached €32.4 billion. Read more (IT) |
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FROM THE INSTITUTIONS
ESAs welcome ESRB Recommendation for a pan-European systemic cyber incident coordination framework
The three European Supervisory Authorities (ESAs) published a statement welcoming the European Systemic Risk Board’s (ESRB) Recommendation on systemic cyber risk, which calls on the ESAs to prepare for the gradual development of a Pan-European systemic cyber incident coordination framework (EU-SCICF). This will support an effective and coordinated response at the EU level in the event of a major cross-border cyber incident that could have a systemic impact on the Union’s financial sector. Read more ESMA: Consultation on CCP anti-procyclicality measures The European Securities and Markets Authority (ESMA) launches a consultation paper to review the European Market Infrastructure Regulation’s (EMIR) requirements on anti-procyclicality (APC) margin measures for central counterparties (CCPs). Read more
ECB: Euro area economic and financial developments by sector
The European Central Bank (ECB) has released statistics on the Euro area's economic and financial developments by institutional sector for the third quarter of 2021. The Euro area net saving increased to €776 billion in the four quarters to the third quarter of 2021, compared with €714 billion in the four quarters to the previous quarter. 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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This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v[email protected]
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