FROM THE MEDIA

Bloomberg: ECB looks to defuse German legal timebomb

The European Central Bank’s most determined attempt yet to confront the German legal headache bedeviling its quantitative easing policy may emerge as soon as this week, says Bloomberg. That’s what its president, Christine Lagarde, hinted at after its June 4 decision, saying that the account of that meeting due to be published this Thursday will include a description of officials’ justifications for continuing the measure. Reuters reports that changes to the composition of Germany’s top court are likely to make it less confrontational towards the ECB following its ruling. Read more Reuters
 

Politico: Little agreement reached in EU budget summit

After a roughly four-hour videoconference to discuss a proposed €1.85 trillion budget and coronavirus recovery package, the EU's 27 heads of state and government did little more than reaffirm some entrenched differences on the most fundamental issues, writes Politico.  The participants pledged to reach an agreement next month, despite the enormous differences among the member states, says Euractiv. Read more Euractiv

Coindesk: Italian banks are ready to trial a digital euro

The Italian Banking Association (ABI) announced that its member banks are willing to pilot a digital euro, writes Coindesk. ABI, made up of over 700 Italian banking institutions, expressed its desire to help speed up the implementation of a digital currency backed by the ECB by participating in related projects and experiments. Read more
 

FT: Bank regulators warned against protectionism

Banking regulators will do untold damage to global financial stability if they erect barriers to protect local markets once huge loan losses from the coronavirus crisis begin to hit lenders, the Institute of International Finance has warned according to the FT. Read more (€)
 

S&P Global: Remote working could amplify exclusive behaviors

Prolonged working from home could reinforce exclusive behaviors and biases and undermine inclusive workplace cultures, which experts warn could have long-term implications for organizations that do not pay attention to the risks, says S&P Global. Read more
 

Reuters: Greece should complete reforms to reduce bad debt

Greece should complete reforms to help its banks deal with the impact of the coronavirus crisis and reduce their bad debt, the ECB's mission chief for Greece has said according to Reuters. Read more

FROM THE INSTITUTIONS

ECON: Temporary and targeted relief in prudential rules for EU banks

The European Parliament approved the “quick fix” to the capital requirement regulation (CRR) to temporarily ensure favourable conditions for banks. This will support credit flows to companies and households and absorb losses, mitigating the economic consequences of the Covid-19 lock-down. Read more

ECB: Reading the economy’s vital signs

The Global Weakness Index is a real-time measure of how weak the global economy is. As coronavirus spreads across the world, the latest Research Bulletin proposes this new indicator and assesses how it can help provide early warnings of a downturn that can be crucial for a fast policy response. Read more

Commission welcomes the adoption EP's Taxonomy Regulation

The European Commission welcomed the adoption by the European Parliament of the Taxonomy Regulation – a key piece of legislation that will contribute to the European Green Deal by boosting private sector investment in green and sustainable projects. Read more

EBA extends deadline for its Guidelines on payment moratoria

The European Banking Authority (EBA) decided to extend the application date of its Guidelines on legislative and non-legislative moratoria to 30 September 2020. With EU economies not yet fully opened, this extension shows the importance of continued support to the measures taken by banks to extend loans in response to the extraordinary nature of the current situation. Read more

European Commission weekly schedule

European Central Bank weekly schedule

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

EU Parliament weekly schedule

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

Encouraging and rewarding sustainability

The EBF report on accelerating sustainable finance in the banking sector 
 

EBF MEMBERS IN THE NEWS

ABOUT THE EUROPEAN BANKING FEDERATION
 

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations. 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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