FROM THE MEDIA

Reuters: UBS joins lenders setting fossil fuel emissions-cutting goals

UBS unveiled plans to cut its loan book financing of emissions caused by the oil and gas sector by 71% through 2030, Reuters says. More than 100 banks have pledged to reach net zero carbon emissions by 2050 and are under pressure to provide details on the deep shorter-term cuts needed if they are to have any chance of meeting their goal. Read more

CNBC: Deutsche Bank reverses course on Russia unwinding business

As reported by CNBC, Deutsche Bank, the biggest German bank by assets, is winding down its operations in Russia. “Like some international peers and in line with our legal regulatory obligations, we are in the process of winding down our remaining business in Russia while we help our non-Russian multinational clients in reducing their operations,” Dylan Riddle, spokesperson for the German bank, said. Read more

ING Think: Closures of European subsidiaries of Russian banks may lead to higher costs for European banks

Closures of European bank subsidiaries of Russian banks may result in payout events for European Deposit Guarantee Schemes. As these schemes are accrued by local banks, payout events are likely to lead to higher costs for banks in the country, ING Think writes in an opinion column. Read more

MAIN EVENTS

• Eurogroup meeting

• Council Working Party on Financial Services and the Banking Union (Financial Services)

• Council Ad Hoc Working Party on the Social Fund

• EIB and SEB ‘Recovery as a Springboard for Change: a Swedish Perspective’ event

• EESC ‘Competition Policy and Social Sustainability’ event

For a full-year overview of key financial regulation events: click here

REGISTRATION OPEN!

European Money Week 2022

FROM THE EBF MEMBERS

FBF: The Year of Banking in 2021

The French Banking Federation (FBF)'s annual report "The Year of Banking" looks back at the banking sector's highlights in 2021, a year still marked by the health crisis and its impact, but also by the unfailing mobilization of banks to meet the concrete needs and challenges of their customers and of society. The French banking sector has continued to prove its tremendous responsiveness, demonstrating its commitment and agility in serving the economy and the French people. Read more (FR)

ABB: The banking system in 2021: Facts and figures

The Association of Banks in Bulgaria (ABB) released its 2021 Facts and Figures. Although several European and international institutions are forecasting slower growth for the Bulgarian economy relative to the European and global economies in 2022, the ABB reports that Bulgaria's economy is expected to return to levels last seen in 2019. Read more

BdB: Accessibility in banking

The German Bundestag cleared the way for a national Accessibility Strengthening Act, which will oblige companies and other organizations to offer consumers their products and services in an accessible form. The concrete technical requirements for accessibility are currently being developed, but German banks have had the issue on their radar for a long time. Accessibility has ceased to be a niche topic, but rather has arrived at the center of society, writes the Association of German Banks (BdB). Read more (DE)

FROM THE INSTITUTIONS

EBA calls on financial institutions to ensure compliance with sanctions against Russia following the invasion of Ukraine and to facilitate access to basic payment accounts for refugees

The European Banking Authority (EBA) strongly condemns the recent developments that are taking a heavy toll on the Ukrainian state, society, and economy. The EBA is working with relevant authorities to ensure proper implementation by all financial institutions of the resulting restrictive measures. The EBA will collect and filter queries related to the scope of the restrictive measures as they apply to banks, and channel them to the EU Commission who will answer them. Read more

EIOPA: Results from its yearly study on the modeling of market and credit risk in internal models

The European Insurance and Occupational Pensions Authority (EIOPA) published the results of its yearly study on the modeling of market and credit risk in internal models. The report reveals moderate to significant dispersion in some model outputs. For the combined market and credit risk charge, some results show sizeable variation between undertakings, part of which is attributable to different risk management preferences. Read more

ECB: Euro Area banks' sensitivity to changes in the carbon price

In recent years there has been growing attention on the risks posed by climate change. One relevant question for financial stability is to what extent the materialization of transition risks emerging from the sudden implementation of climate change mitigation policies would impact the financial system. A paper published by the European Central Bank (ECB) analyzes the effects of changes in carbon price on the European banking system. Read more

FROM THE EBF

EBF supports AFME proposal for temporary changes to the CSDR penalties month-end process

The EBF supports the proposal made by the Association for Financial Markets in Europe (AFME) at the invitation of the Advisory Group on Market Infrastructures for Securities And Collateral (Ami-SeCo) of the European Central Bank (ECB) to set out temporary changes to the month-end processing timetable for CSDR late settlement penalties in order to mitigate and manage problems and delays registered by market participants in the context of the live phase started on February 1st, 2022. Read more

EBF Vacancies: Work with us!

Visit our Vacancies page to learn more about the opening positions at the EBF. Read more

ABOUT THE EUROPEAN BANKING FEDERATION
 

If you do not want to receive the EBF Morning Brief click here.

For questions or suggestions contact v.barbieri@ebf.eu 


European Banking Federation