EBF MORNING BRIEF Monday 19 June 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
FT: ECB split over whether to keep raising interest rates after summer
European Central Bank (ECB) policymakers are split over how much longer they will need to keep raising interest rates to tackle stubbornly high inflation. According to the Financial Times (FT), the likelihood of more tightening in September is uncertain despite the Bundesbank boss remarking on a long way to go still to hit the 2% target. Read more
Bloomberg: Crypto conglomerates to be regulated, Bank of France says
International cooperation is needed to regulate crypto conglomerates, Governor of the Banque de France François Villeroy de Galhau said. While he stressed that the EU was ahead in crypto regulation, Villeroy touted that a new version of the EU regulation, “MiCA 2”, would probably be needed to tackle crypto conglomerates, Bloomberg reports. Read more
Finextra: BIS and BoE complete CBDCs project
A project involving central bank digital currencies (CBDCs) jointly run by the Bank of England (BoE) and the Bank of International Settlements (BIS) was completed. As reported by Finextra, the project sought to develop a number of retail CBDC use cases. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
SBA: Swiss banks explore a digital Swiss franc together
Coordinated by the Swiss Bankers Association (SBA), a group of banks has launched the project to introduce a digital Swiss franc. This will take the form of a tokenized scriptural currency and will have the character of public good to lay the foundations for new and innovative financial services in Switzerland. Read more (FR)
NVB: Financial education project reaches more than 263,000 students
Bank employees have given 2,500 guest lectures in the past three months reaching 63,000 students. Medy van der Laan , Chairman of the Dutch Banking Association (NVB): 'It is fantastic that together we have succeeded in reaching so many children and young people this year with our financial guest lectures.' Read more (NL)
Finance Denmark: Customers burdened by documentation
In line with money laundering legislation, Danes have been asked by their bank to provide extra documentation in connection with their money transactions. Seven out of 10 bank customers experience the increased documentation requirements as a burden, a new survey commissioned by Finance Denmark finds. Read more (DK) |
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FROM THE INSTITUTIONS
EBA: Money laundering and terrorist financing risks in payments institutions are not managed effectively
The European Banking Authority (EBA) published its Report on money laundering and terrorist financing (ML/TF) risks associated with EU payment institutions. Its findings suggest that ML/TF risks in the sector may not be assessed and managed effectively by institutions and their supervisors. Read more
ESMA: Sustainability in suitability and product governance
The European Securities and Markets Authority (ESMA) launched a Call for Evidence (CfE) on integrating sustainability preferences into suitability assessment and product governance arrangements under the Markets in Financial Instruments Directive (MiFID) II. Read more
SRB: Liquidity in resolution data guidance
The Single Resolution Board (SRB) published new guidance on liquidity in resolution data for 115 of Europe’s largest banks. The guidance document targets the liquidity dimension of the SRB’s previously issued “Expectations for banks” aiming at enhancing banks’ resolvability and preparedness for a potential resolution. Read more |
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FROM THE EBF
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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