EBF MORNING BRIEF Monday 8 May 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
Bloomberg: ECB Officials get behind pledge of more rate hikes
European Central Bank (ECB) officials are rallying behind President Christine Lagardeās declaration that thereās still some way to go before interest rates reach their peak. According to Bloomberg, Lagarde has flagged at least two more moves in the pipeline. Read more
FT: Spanish windfall tax takes a heavy toll
As reported by the Financial Times (FT), CaixaBank said the windfall tax on big banks and energy groups cost it ā¬373mn. Ana BotĆn, Santanderās executive Chair, called for any tax increases to ābe the same for all companiesā. She has also argued that rising profits are a sign of a return to normal business conditions for banks. Read more
Finextra: Operational Resilience preparation a top priority
Operational resilience remains a key regulatory focus area, Finextra writes. As a resolution to resilience challenges, greater investment into skilled resources, technology and data will be required to meet operational resilience benchmarks. Read more |
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MAIN EVENTS European Parliament plenary session (Strasbourg) For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
Febelfin: The fiscal reform: a missed opportunity?
'In its current form, [the fiscal reform] does not provide an answer to the existing problems and creates changing market behavior that will cause capital to leave the country,' according to an opinion from Karel Baert, CEO of Febelfin, and Geert Gielens, Director Economic and Strategic Affairs at Febelfin. Read more (NL)
ABI: Invite to suspend mortgage installments in Emilia Romagna
Following the declaration of a state of emergency in Emilia Romagna due to the heavy storms that hit the region, the Italian Banking Association (ABI) invites banks to immediately implement the suspension of mortgages. Read more (IT)
ABBL: Efforts to build trust in the Luxembourg financial sector
The financial sector faces many challenges, including demanding competition and market conditions, ongoing regulatory adaptation, and the twin transitions of digitalization and sustainability. The Luxembourg Banker's Association (ABBL) supports its Members' efforts to highlight the value of the financial sector to society and built trust. Read more |
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FROM THE INSTITUTIONS
ECB: Enabling green transition finance
To deliver price stability and keep the banking system safe, the European Central Bank (ECB) must do its part to close the gaps in the financial system that are curtailing the green transition, says Executive Board member Frank Elderson. Read more
EC: DSA: Delegated Regulation on independent audits consultation
The European Commission (EC) has launched a consultation on draft rules on how independent audits should be conducted under the Digital Services Act (DSA) for Very Large Online Platforms (VLOPs) and Very Large Online Search Engines (VLOSEs). Read more
BIS: Project Leap: Quantum-proofing the financial system
Project Leap, launched by the Bank for International Settlements (BIS) Innovation Hub's Eurosystem Centre together with the Bank of France and Deutsche Bundesbank, seeks to build quantum-resistant IT environments for the financial system. 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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