FROM THE MEDIA

Bloomberg: EU set to extend clearing decision in Brexit win for London

According to Bloomberg, the EU is set to extend a temporary waiver that allows its banks and money managers to clear trades in the U.K., lifting a looming threat to one of the City of London’s crown jewels. “In order to address possible short-term financial stability risk, linked to an abrupt interruption in access to clearing services,” the European Commission will soon propose an extension of equivalence for UK-based clearinghouses. Read more

EURACTIV: Basel III: Member states see national financial stability at risk

Member states with a significant presence of foreign banks fear that the EU Commission’s proposal to implement the Basel III agreement sacrifices their national financial stability to integrate the EU’s banking sector. The finance ministers of Belgium, Lithuania, Slovakia, Portugal, and other countries have expressed concerns over national financial stability if bank subsidiaries that are active in the respective national market do not have to hold the same amount of capital as local banks, EURACTIV reports. Read more

Central Banking: EU should demand banks set climate transition plans

The EU should consider mandating that banks adopt strategies in line with a transition to net-zero carbon emissions, said European Central Bank (ECB) Board member Frank Elderson. “It would be very helpful to have legal requirements for all banks to implement Paris-compatible transition plans, as this would actually enhance the pressure, but also help supervisors to play a role,” he said as reported by The Central Banking. Read more

MAIN EVENTS

• European Commission and JRC 'Charting the European economy post-COVID-19: unusual times require unconventional policies’ research conference

• European Parliament Committee on Economic and Monetary Affairs

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

• Council Working Party on Tax Questions (Indirect Taxation)

• European Parliament Subcommittee on Tax Matters

• Council Horizontal Working Party on Cyber Issues

• EIB European Microfinance week

• CEPS ‘How robust is the EU recovery?’ webinar

• Dfv Euro Finance Week

• EBF Sustainable Finance Working Group online meeting

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

COMING THIS WEEK!

EBF Digital Thursdays 2021

FROM THE EBF MEMBERS

HUB partner of the conference "Zagreb - banking and financial center": Pandemic served as a catalyst for technological change

Organized by Poslovni Dnevnik and in partnership with the Croatian Banking Association (HUB), a conference "Zagreb - Banking and Financial Center" was held to discuss how the role of the financial sector will change in the next future. Boris Vujčić, Governor of the Croatian National Bank, addressed the topic of recent economic trends and the introduction of the euro. Read more (HR)

FBF: Territorial presence is a strength of the French banking model 

Maya Atig, Managing Director of the French Banking Federation (FBF) discusses one of the strengths of the French banking model: proximity. "Proximity, which goes through the territorial network, is a strength of our relational banking model. In this, French banks differ from other players whose model is purely transactional. This model based on proximity is thus universal and inclusive. Proximity, in all its forms, must continue to be at the service of all our customers", she says. Read more (FR)

NVB: WGS enables better protection of society against fraud and money laundering

The Data Processing by Collaborative Societies Act (WGS) ensures that public and private parties can exchange data with each other to better protect society against fraud and money laundering. The Act also relates to cooperative ventures in which banks participate with, among others, the police and the Public Prosecution Service with respect to digital fraud (ECTF), explosive robberies, Internet fraud (LMIO), and financial-economic crime (FEC).  The law provides a good legal basis for sharing knowledge within targeted partnerships, the Dutch Banking Association (NVB) says. Read more (NL)

FROM THE INSTITUTIONS

ECB: The pandemic’s impact on the global economy

The recession caused by the pandemic led to a decline in global potential output. Nevertheless, the factors behind this fall are likely to be temporary. Future developments depend on post-pandemic economic adjustments and the phasing-out of policy support. This emerges from the Economic Bulletin by the European Central Bank (ECB). Read more

EBA issues requirements on institutions’ Pillar 3 disclosure of interest rate risk exposures

The European Banking Authority (EBA) published its first draft implementing technical standards (ITS) on Pillar 3 disclosure of institutions’ exposures to interest rate risk on positions not held in the trading book (IRRBB). The final draft ITS put forward comparable disclosures that will help stakeholders assess institutions’ IRRBB risk management framework as well as the sensitivity of institutions’ economic value of equity and net interest income to changes in interest rates. Read more

European Commission: EFB Annual Report 2021

The European Fiscal Board (EFB) has published its fifth annual report. The report assesses the implementation of the EU fiscal framework during the first year of the Covid-19 pandemic and clarifies the EFB’s reform proposals to account for post-pandemic realities. The EFB has welcomed the relaunch of the economic governance review. Read more

European Commission weekly schedule

Find out more about the ECB's engagements and activities for the upcoming week. Read more
 

European Parliament weekly schedule

Find out more about the Parliament's engagements and activities for the upcoming week. Read more

FROM THE EBF

EBF on the EU Platform’s Preliminary Recommendations for Technical Screening Criteria for the EU Taxonomy

The EBF welcomes the work being done by the EU Platform on Sustainable Finance to define the Technical Screening Criteria for the remaining environmental objectives of the Green Taxonomy. In this paper, EBF shares the key messages and suggestions. 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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European Banking Federation