EBF MORNING BRIEF Monday 7 March 2022 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.
Recommend the EBF newsletters to a colleague. Click here to sign up!
|
|
|
FROM THE MEDIA FT: Russian bank VTB prepares to pull out of Europe VTB Bank, Russia’s second-biggest lender, is preparing to wind down its European operations after being hit hard by Western sanctions, according to people with knowledge of internal discussions. The move follows the decision by Sberbank, Russia’s biggest lender, to exit the central and eastern European market last week, the Financial Times (FT) points out. Sberbank and VTB account for more than half of Russia’s banking market. Read more
Reuters: Visa and Mastercard suspend operations in Russia
Visa and Mastercard said they were suspending operations in Russia over the invasion of Ukraine, and that they would work with clients and partners to cease all transactions. According to Reuters, a growing number of financial and technology companies have suspended Russian operations, including PayPal. Read more
Finextra: Why banks need the cloud in the race to Net-Zero The cloud can help banks address their target to reach Net-Zero, Kalliopi Chioti, Chief ESG Officer at Temenos writes in an opinion piece for Finextra. The cloud is indeed a low-carbon technology due to the optimization of application development and performance, as well as significant efficiency gains from hyperscale data centers. Read more |
|
MAIN EVENTS European Parliament plenary session (Strasbourg) Deutsche Bundesbank, Oesterreichische Nationalbank and Joint Vienna Institute ‘Monetary policy implementation’ course
For a full-year overview of key financial regulation events: click here
|
|
FROM THE EBF MEMBERS SBA: Condemnation of the attack on Ukraine The Swiss Bankers Association (SBA) condemns the Russian aggression on Ukraine and firmly supports the sanctions adopted by the Federal Council. Swiss banks maintain strict compliance with all applicable regulations and measures, including sanctions imposed by Swiss, international, and supranational bodies. The Board of Directors has decided to exclude the Gazprombank and Sberbank from the SBA with immediate effect. Read more
AEB: Fighting the digital divide is everyone's duty
Carlos San Juan's campaign ''I'm older, not an idiot" highlighted the difficulties faced by some elderly people in accessing financial services. The Spanish Banking Association (AEB) has agreed on a decalogue of measures to improve personalized attention to the elderly, including extending opening hours to guarantee face-to-face service for teller services and offering preferential treatment to the senior segment in branches. Read more (ES) HUB: Banks increase net profit by 107.5% in 2021 According to the Croatian Banking Association (HUB), banks increased their profits by 107.5% in 2021. This is the result of an increase in gains on financial assets and a decrease in value for expected losses. Read more (HR) |
|
FROM THE INSTITUTIONS ECB: Strengthening the resilience of the European banking sector Elizabeth McCaul, Member of the Supervisory Board of the European Central Bank (ECB), contributed to the February 2022 Eurofi Magazine. Bankers need to adapt their strategies to two major structural shifts: digital transformation and the green transition, she said, adding that "challenges and risks abound, but there are clear paths for bankers and policymakers to manage safely on the road ahead". Read more
BIS: Finding the right sequence
Isabel Schnabel, Member of the Executive Board of the European Central Bank (ECB) delivered a speech at the first annual Bank of England Agenda for Research (BEAR) conference."It is now becoming increasingly likely that, in the medium term, inflation will approach our 2% target from above, rather than from below", she said in her speech as published by the Bank for International Settlements (BIS). Read more
EIOPA: Symmetric adjustment of equity capital charge for Solvency II
The European Insurance and Occupational Pensions Authority (EIOPA) has published the technical information on the symmetric adjustment of the equity capital charge for Solvency II with reference to the end of February 2022. Read more |
|
FROM THE EBF
EBF Vacancies: Work with us!
Visit our Vacancies page to learn more about the opening positions at the EBF. Read more |
|
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 |
|
|
This newsletter is published by the EBF Mediacentre. If you do not want to receive the EBF Morning Brief click here.
For questions or suggestions contact v.barbieri@ebf.eu
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium |
|
|
|
