EBF MORNING BRIEF Monday 17 July 2023 Good morning. Here are the top news stories and events in European banking, financial regulation and EU policy, brought to you by the European Banking Federation.
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FROM THE MEDIA
Bloomberg: Toughest ESG rule yet puts EU on collision course with US
Lara Wolters, the lawmaker helming the passage of the Corporate Sustainability Due Diligence Directive through the EU legislative chamber is confident the US will embrace the global accountability the bill introduces. As reported by Bloomberg, she said that they have been working to close any loopholes companies might try to use. Read more
Finextra: Swift pilots instant payments across currency zones
Swift and several international banks have successfully completed the first pilot to process in a real environment instant payments between different currency areas, Finextra reports. During this pilot phase of the service, dozens of actual payments originating from banks in other currency areas and sent through the Swift GPI Instant service have been processed, settled, and credited in a matter of seconds. Read more
S&P Global Market Intelligence: Banks leverage financial technologies
Banks will be forced to change as fintech reshapes the banking industry, according to experts speaking during S&P Global Market Intelligence's Tech in Banking webinar. The current model of "universal banking," whereby banks cater to customers of every size and serve every step of the value chain, is going to go extinct, said Conrad Ford, chief product officer of London-based Allica Bank Ltd. Read more |
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MAIN EVENTS European Parliament Subcommittee on Tax Matters
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
BPFI: FraudSMART Payment Fraud Report
A new report published by FraudSMART, the fraud awareness initiative led by Banking & Payments Federation Ireland (BPFI), shows fraudsters stole nearly €85 million through frauds and scams in 2022, an increase of 8.8% on 2021. Most of the increase was driven by online card fraud or ‘card not present’ fraud. Read more
BdB: CMDI review: Proposals miss the point
The Association of German Banks (BdB) presented a position paper on the proposals to revise the European framework for crisis management of banks and deposit insurance. "We do see the need to modernize the framework for crisis management of banks. However, the Commission's plan to extend the resolution regime to medium-sized and smaller banks is the wrong way to go," they write. Read more (DE)
HUB: Stable growth and strong recovery of real wages
The Croatian Association of Banks (HUB) has published the latest edition of the publication HUB Izgledi 1/2023, in which the chief economists of the largest banks present their opinions on the most important economic trends. Read more (CZ) |
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FROM THE INSTITUTIONS
ECB: Fourth progress report on the digital euro
The European Central Bank (ECB) published its fourth progress report on the digital euro. The publication contains views on principles for a compensation model, updates on ongoing work to ensure financial inclusion, and findings from the prototyping exercise. Read more
European Council: Decisions in support of modernized export credits
The European Council adopted two decisions setting the EU’s position on proposed changes to the Arrangement of officially supported export credits. The Arrangement provides a framework for the orderly use of officially supported export credits by fostering a level playing field among exporters. Read more
EBA: Money laundering and terrorist financing risks across the EU
The European Banking Authority (EBA) published its fourth biennial Opinion on the risks of money laundering and terrorist financing affecting the EU financial sector. It also sets out what competent authorities and EU co-legislators can do to mitigate those risks. Read more |
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FROM THE EBF
EBF: Credit Spread Risk in the Banking Book: Banking Industry Common Understanding
In October 2022, the European Banking Authority (EBA) published a set of Guidelines on Credit Spread Risk in the Banking Book (CSRBB) with an end-of-2023 entry into force. These Guidelines published in 2022 replace the 2018 Guidelines “on the management of interest rate risk arising from non-trading book activities”. Read more
New 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.
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