EBF MORNING BRIEF Thursday 1 September 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! |
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THE EBF MORNING BRIEF IS BACK! We are happy to see you again for a new exciting season of key events and stories in the financial and banking sector. |
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FROM THE MEDIA Reuters: Chorus backing big ECB rate hike grows European Central Bank (ECB) policymakers called for decisive and swift rate hikes on Tuesday to combat soaring inflation, suggesting that the choice in next week's policy meeting will be between a big move and an even bigger one. According to Reuters, that leaves the choice largely between a 50 and a 75 basis-point hike. Read more FT: Eurozone inflation rises to a record 9.1% Eurozone inflation rose to a record 9.1 percent in the year to August, intensifying fears that soaring prices are becoming embedded in the economy and bolstering calls for the European Central Bank (ECB) to raise interest rates more aggressively next week. As reported by the Financial Times (FT), the EU is preparing emergency measures to curb the price of electricity by separating it from the soaring cost of gas. Read more Bloomberg: Bank of Ireland names Interim CEO Bank of Ireland named Gavin Kelly Interim CEO as it continues to search for a replacement for outgoing CEO Francesca McDonagh. Bank of Ireland’s former chief financial officer, Myles O’Grady, seems to be the bank’s choice to succeed McDonagh, Bloomberg reports. However, this is subject to vetting by Irish and European central bank officials. Read more |
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THE EUROPEAN BANKING SUMMIT 2022 IS COMING! Registration is still open! |
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| The European Banking Summit 2022 will take place in Brussels and bring together a combined in-person and online audience of more than 500 banking representatives, policymakers, and senior experts. The full-day event will offer an overview of the latest developments in the EU banking policy, examine how technology is changing the financial system and how can banks play a key role in achieving Europe’s sustainability goals. When: 29 September 2022 from 9:00 to 17:15 Where: Online and live at the Radisson Collection Hotel, Grand Place in Brussels! |
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MAIN EVENTS Thursday 1 September European Parliament Committee on Budgets Friday 2 September For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS BdB: Something is happening in reporting BaFin published the results of the "Feasibility study on the realignment of the banking supervisory reporting system" which showed that a reporting system without templates can be implemented. According to the Association of German Banks (BdB), the findings from the study are clear: a special national solution is not expedient. Alignment with European initiatives is essential. Read more (DE) UK Finance: Managed services: Market pressures accelerate adoption While big banks have relied on managed services for decades, smaller finance and banking entities have held back. A perfect storm of market pressures is changing the mindset and accelerating adoption across a wider financial segment, UK Finance says. Read more SBA: Well-positioned banks enter economically and politically uncertain territory In Switzerland, the measures taken in the wake of the COVID-19 pandemic were gradually relaxed in 2021. This was accompanied by a strong economic recovery and a fall in the unemployment rate. The Banking Barometer by the Swiss Bankers Association (SBA) found that the business situation of the 239 banks operating in Switzerland at the end of 2021 improved accordingly. Read more (DE) |
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FROM THE INSTITUTIONS ECB: Euro area insurance corporation statistics Q2 2022 The European Central Bank (ECB) has published the Euro area insurance corporation statistics for the second quarter of 2022. According to data, the total assets of euro area insurance corporations amounted to €8,480 billion, €456 billion lower than in the first quarter of 2022. Read more EC: Fiscalis program for cooperation in taxation The European Commission (EC) has published a Delegated Regulation (EU) supplementing Regulation (EU) 2021/847 of the European Parliament and of the Council with provisions on the establishment of a monitoring and evaluation framework for the Fiscalis program for cooperation in the field of taxation. Read more BIS: From 500 percent to -0.5 percent: What is next? Anna Breman, Deputy Governor of the Sveriges Riksbank discusses the economic policy framework in Sweden. Is it possible to complement or modernize the framework to reduce known vulnerabilities while enabling investments that boost long-run potential growth and prosperity, and help alleviate some of the supply-side problems that contribute to high inflation? Read more |
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FROM THE EBF this month EBF Responses to EFRAG consultation surveys The European Banking Federation (EBF) supports EFRAG’s extensive efforts to build European sustainability reporting standards (ESRS) reflecting the EU’s ambition in tackling sustainability issues. Improving the quantity, quality, and reliability of sustainability disclosures in the EU will only be possible in the presence of efficient and harmonised reporting standards. Read more EBF Response to the European Commission’s call for evidence on Open Finance The European Banking Federation (EBF) has responded to the European Commission’s Call for Evidence on an “Open Finance Framework – enabling data sharing and third party access in the financial sector.” Read more EBF consultation response on the International Sustainability Standards Board (ISSB) Exposure Drafts The European Banking Federation (EBF) welcomes the International Sustainability Standards Board’s (ISSB) efforts to develop a commonly accepted global baseline for sustainability disclosures. Read more EBF response to the EBA Discussion Paper on the role of environmental risks in the prudential framework The European Banking Federation (EBF) has responded to the discussion paper of the European Banking Authority on the role of environmental risk in the prudential framework. Read more 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. 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 |
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