EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 7 February 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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EESC: The EU Banking Reform Package public hearing |
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A proposed review of EU banking rules aims at ensuring that EU banks become more resilient to potential future economic shocks while contributing to Europe's recovery from the COVID-19 pandemic and the transition to climate neutrality. The European Economic and Social Committee (EESC)'s public hearing will provide the views of institutional and civil society stakeholders, and will help form the policy recommendations the EESC is drawing up on the legislative proposals currently under discussion. The event is organized on 8 February 2022, starting at 14:30, and is accessible via webstream. Gonzalo Gasos, EBF Senior Director of Prudential Policy & Supervision will speak at the hearing on Tuesday. Discover more |
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FINANCIAL REGULATION AGENDA for next week Monday 7 February Tuesday 8 February Wednesday 9 February -
European Banking Authority Banking Stakeholder Group meeting -
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13th SRB / Industry Dialogue
Thursday 10 February -
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Council Working Party on Competition -
European Parliament Special Committee on Artificial Intelligence in a Digital Age -
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EBF Meeting of the Financing the Economy Steering Committee
Friday 11 February
For a full-year overview of key financial regulation events: click here
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FROM THE MEDIA Global Government FinTech: European authorities take stock of financial education and digitalization Global Government FinTech reports that the European Banking Authority (EBA), the European Securities & Markets Authority (ESMA), and European Insurance & Occupational Pensions Authority (EIOPA) jointly published a thematic repository on financial education and digitalization initiatives of national competent authorities. The publication is focused on initiatives in the increasingly hot topic fields of cybersecurity, scams, and fraud. Read more Bloomberg: Europe’s banks step up profit pledges as higher rates loom As interest rates finally inch up, European banks raised their profitability targets as they expect higher income from lending. While the metrics used differ slightly from bank to bank, the message is the same. EU banks are ready to make money again, after more than a decade of low and even negative interest rates during which returns rarely topped 10% on the invested capital, Bloomberg reports. Read more Finextra: Barclays steps up fintech engagement with Rainmaking Barclays has teamed up with corporate venture builder Rainmaking to develop a host of initiatives working with fintech firms around the world. According to Finextra, the first initiative to launch is the Rise Start-Up Academy, a non-equity virtual digital skills-building accelerator targeted at fintech founders. Applications are already open for founders working in wealth equality, climate, the future of money, and more. Read more |
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FROM EBF MEMBERS BdB: Buy now, pay later – a debt trap? Online shopping has increased in popularity during the pandemic, particularly in the fashion sector. E-commerce providers are increasingly offering the option of purchasing on account. With a 30.4% share of sales, the Association of German Banks (BdB) reports that payment after receipt of goods is the Germans' favorite online payment method. While there are advantages, the option to postpone payment may tempt consumers to purchase goods they cannot afford and fall into a consumption trap. Read more (DE) Febelfin: 'Digital inclusion' leaflet With increasing digitalization, including payments and banking services, Febelfin has produced a brochure listing materials available on digital inclusion and online safety. It provides both supervisors and consumers everything they need to know on how to pay smoothly and securely digitally and to arrange money matters online. Read more (NL)
UK Finance: The Consumer Duty
The introduction of a new Consumer Duty promises to be one of the biggest shake-ups to retail financial services regulation in over 15 years, says UK Finance. This will particularly change what is required from firms. The Financial Conduct Authority (FCA) stated aim is to “ensure a higher and more consistent standard of consumer protection for users of financial services”, and to prevent harm before it happens. Read more |
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FROM THE INSTITUTIONS ESAs: Financial education and literacy The European Supervisory Authorities (ESAs) held their first joint high-level conference on financial education and literacy. The conference gathered high-level government representatives as well as experts from public authorities, academia, NGOs, consumer associations and the industry to raise awareness of this important topic. It also offered a forum to share ideas and best practices and to gather input from all the stakeholders on how to tackle future challenges. Read more ECB: Monetary policy statement European Central Bank (ECB) President Christine Lagarde and ECB Vice-President Luis de Guindos commented on the considerations underlying the monetary policy decisions made by the ECB Governing Council last December 2021 at a press conference. Read more
ESMA: Call for Evidence on ESG ratings
The European Securities and Markets Authority (ESMA) published a Call for Evidence on Environmental, Social, and Governance (ESG) ratings to gather information on the market structure for ESG rating providers in the EU. 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]
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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