FROM THE MEDIA

FT: Digital euro will protect consumer privacy, ECB executive pledges

The introduction of a digital euro would boost consumers’ privacy and protect the eurozone from the “threat” of competing cryptocurrencies that could undermine the bloc’s monetary sovereignty, according to the central banker overseeing its development. Fabio Panetta, an executive board member at the European Central Bank, told the Financial Times that one of the project’s key aims was to combat the spread of digital coins created by other nations and companies. Read more (€)

Bloomberg: EU clears eight of the 10 banks barred from landmark bond sales

Eight of the 10 banks blocked from participating in the European Union’s pandemic recovery bond sales this week have been cleared for future ones, reopening a lucrative line of business from one of the world’s largest new issuers, Bloomberg reports. “The eight banks have provided information that allow the Commission to conclude that their further exclusion from participation in syndicated transactions in EU bond issuances is not warranted,” the European Commission said. Read more

The Telegraph: France targets City banks fed up with Covid curbs

Emmanuel Macron is seeking to lure global banks away from the City as senior executives grow increasingly frustrated with Britain’s restrictive quarantine rules. The French president has invited an elite group of global banking heads including JP Morgan boss Jamie Dimon and his Goldman Sachs counterpart David Solomon to a “Choose France” event at the Palace of Versailles on June 28 to make the case for investing in his country, The Telegraph reports. Read more

MAIN EVENTS

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

FROM THE EBF MEMBERS

FROM THE INSTITUTIONS

ECB extends leverage ratio relief for banks until March 2022

The European Central Bank announced that euro area banks may continue to exclude certain central bank exposures from the leverage ratio, as exceptional macroeconomic circumstances due to the coronavirus (COVID-19) pandemic continue. The move extends until March 2022 the leverage ratio relief granted in September 2020, which was set to expire on 27 June 2021. Read more

ECOFIN: Takeaways from the meeting of 18 June

On Friday, EU economic and finance ministers took stock of the economic recovery in Europe, exchanged views on the ongoing VAT files and the state of play of the banking union. They also discussed fiscal sustainability in the framework of the European Semester 2021. Read more

European Commission: Remarks by Executive Vice-President Dombrovskis at the ECOFIN press conference

Valdis Dombrovskis, Executive Vice-President of the European Commission for An Economy that Works for People spoke at the ECOFIN. "Today there was broad agreement as regards the need to have appropriate capacity to respond to the most immediate needs related to COVID 19 emergency, while at the same time continuing the work on the scope of more permanent arrangements to respond to similar crises in the future", Dombrovskis said. 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 EUROPEAN BANKING FEDERATION 

European Commission’s proposal for a revised Directive on Security of Network and Information Systems (NIS2): EBF key messages

Ensuring high levels of cybersecurity across the EU is one of the biggest challenges, affecting citizens, customers, and businesses alike. Cyber threats are by nature cross-sectoral and may arise from and expand to any field of economic activity, with possibly immense repercussions. Therefore, adopting cybersecurity measures that target entities across sectors is crucial and the European Commission’s review of the Directive on Security of Network and Information Systems (NIS2) is a welcomed initiative. Read more

EBF top 10 proposals for the implementation of the Finalisation of Basel III in Europe 

The EBF has published yesterday ten proposals for the implementation of the Finalisation of Basel III in Europe. This includes suggestions for a differentiated treatment for Specialised Lending (SL), a careful examination of the risk weights for equity exposures, and for the implementation of the Fundamental Review of the Trading Book (FRTB) to consider several issues. Read more

EBA feasibility study of an integrated reporting system under Article 430c CRR: Industry Joint Communication

The European Banking Federation (EBF), the European Association of Co-operative Banks (EACB), the European Association of Public Banks (EAPB), and the European Savings and Retail Banking Group (ESBG), representing the entirety of the European banking industry, have individually submitted responses to the EBA consultation on the feasibility of an integrated reporting system for regulatory reporting. The banking industry has been calling for the creation of an integrated and standardized framework for data reporting to improve the quality of data while reducing the reporting burden for the industry without reducing the information content for authorities. 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 f.indaco@ebf.eu


European Banking Federation