EBF MORNING BRIEF Monday 2 December 2019 Good morning, these are the top news stories and events in European banking, financial regulation and EU policy, brought to you by the mediacentre of the European Banking Federation in Brussels.
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FROM THE MEDIA
Euractiv: Commissioners assemble - class of 2019-2024 starts work
European Commission President Ursula von der Leyen’s executive began work on the 1 December. Euractiv assembled a comprehensive overview with all the details and figures on the self-dubbed “geopolitical Commission”. After a lengthy approval process, which saw three candidates rejected by the European Parliament and the United Kingdom refuse to name a candidate, von der Leyen’s Commission composing of 27 members has now taken office. Read more
Reuters: EU watchdog tells banks to get a grip on costs, merge or close
Banks in the European Union could close branches, merge or leave the market to reverse a “bleak” outlook for profitability, the bloc’s banking watchdog said on Friday according to Reuters. Read more FT(€)
FT: EU chief issues Brexit warning over City of London access
The EU’s financial services chief has warned that Brussels is ready to cut off the City of London’s post-Brexit market access in a sign of the pressure Britain will face to stay closely aligned with European rules after it leaves the bloc, states the FT. Read more (€) BBC: Mark Carney appointed UN envoy for climate action Bank of England governor Mark Carney has been appointed United Nations Special Envoy for Climate Action and Finance. Mr Carney will take up his new post once his term as governor ends on 31 January 2020. The announcement comes ahead of COP25, the UN's annual climate change conference, which gets under way in Madrid on Monday. Read more FT(€) The Guardian
Law360: EU warns banks with new cybersecurity guidelines Th European Banking Authority published a guidance setting out how financial services providers across the bloc should protect themselves against the growing threat of cybercrime and breaches. The European Banking Authority said "increasing digitalization in the financial sector" is making banks and lenders vulnerable to internal and external cybersecurity threats. Read more (€) |
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EBF MEMBERS IN THE NEWS
Denmark: Danes believe banks are earning money
Despite generally lower earnings compared to other Danish companies, a majority of Danes believe that the banks earn more than the rest of the Danish business community. This shows a new questionnaire survey that Epinion has done for Finans Danmark. Read more (DK)
Finland: Nordic financial sectors under the same roof in Brussels
​The Nordic financial sectors are concentrating their EU lobbying under the same roof. The recently opened Nordic Finance office is expected to increase the efficiency and effectiveness of the countries’ lobbying and cooperation. The new office hosts the banking and securities associations of Denmark, Norway, Sweden and Finland. Read more |
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MAIN EVENTS today Two-day: European Data Protection Board (EDPB) Plenary Session *All events take place in Brussels unless stated otherwise |
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FROM THE INSTITUTIONS
ESMA annual CRA market share calculation
On 29 November, the European Securities and Markets Authority (ESMA) published its annual market share calculation for EU registered credit rating agencies (CRAs) for 2019. The results show that the three largest CRAs – S&P Global Ratings, Moody’s Investor Service and Fitch Ratings – account for 92.1% of the market for credit rating agencies in the EU representing a 2.7% increase on 2018. Read more FSB report on SME financing On 29 November, the Financial Stability Board (FSB) published its final report on the Evaluation of the effects of financial regulatory reforms on small and medium-sized enterprise (SME) financing, following a public consultation earlier this year. According to the FSB, the evaluation provides robust evidence that the post-crisis financial reforms – key among which are the Basel III reforms – have not led to a material and persistent reduction in SME lending. Indeed, the stronger financial system created by the reforms provides a firm foundation to support SME growth over the long term. Read more
European Commission calendar for this week
Find out more about the Commission's engagement and activities for the upcoming week. Read more
European Central Bank weekly schedule Find out more about the ECB's engagements and activities for the upcoming week. Read more
European Parliament agenda Find out more about the Parliament's engagements and activities for the upcoming week. Read more |
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FROM THE EBF
EBF-BCESA leadership re-elected for a second 3-year term
The Banking Committee for European Social Affairs (BCESA) within the European Banking Federation has re-elected Jens Thau and Michael Kammas for a second three-year term, allowing them to continue to serve respectively as chairman and vice-chairman. EBF-BCESA represents the interests of private banking employers at the European level. Both Dr Thau, Director at the German Federation of private Banking, known as AGV Banken, and Dr Kammas, Director General of Association of Cyprus Banks, have held their offices at BCESA already since 2013. Read more
M4E: Paris hears call for urgent action to develop EU capital markets
The Markets4Europe campaign marks the first in its series of EU-wide conferences on Thursday in Paris, bringing together private and public sectors leaders who are united in their call for urgent European Union action to build up capital markets as a matter of economic sovereignty and dynamic growth. 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 45 countries. The EBF 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. |
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This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact mediacentre@ebf.eu
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