EBF MORNING BRIEF Thursday 13 October 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.
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FROM THE MEDIA
Bloomberg: ECB needs at least two more significant rate hikes
“We need at least two more significant hikes before we enter the range of plausible estimates for neutral,” European Central Bank (ECB) Governing Council member Klaas Knot told Bloomberg. However, Knot signaled he wasn’t in favor of lifting rates by more than a three-quarter point. Read more
Finextra: Deutsche Bank and Fiserv launch combined payments and banking joint venture
Deutsche Bank and Fiserv have launched vert, a payment acceptance and banking services provider to small and medium-sized enterprises (SMEs). Vert promises clients faster payments, modern technology, acceptance of common payment types and an online dashboard providing transaction data, Finextra reports. Read more
Reuters: ECB's Villeroy lays out plan for shrinking balance sheet
The European Central Bank (ECB) should start shrinking its balance sheet once its interest rate is close to 2%, first by getting banks to repay their loans and then by whittling down its bond holdings, ECB policymaker Francois Villeroy de Galhau said. As reported by Reuters, Villeroy said it was too early to say whether the ECB should raise that rate by 50 or 75 basis points at its Oct. 27 meeting. Read more |
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MAIN EVENTS
Thursday 13 October
Friday 14 October
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS FBF: Reaction to the OTB annual report The Observatory of Banking Tariffs (OTB) published its annual report that shows very great stability compared to 2021. The report shows that subscription to remote banking services is down. According to the French Banking Federation (FBF), this result emphasizes that French banks can reconcile digitalisation, proximity and customer satisfaction. Read more
BPFI: SME Market Monitor
The latest SME Market Monitor published by Banking & Payments Federation Ireland (BPFI) has highlighted how further supports for SMEs in the form of energy efficient enhancement measures will be required as inflationary and price pressures are set to continue and reduced consumer demand looms. Read more
Febelfin: New cybersecurity awareness campaign
In October, the Center for Cybersecurity Belgium and the Cyber Security Coalition launched their annual cybersecurity awareness campaign. This year's theme is: protecting your mobile devices. The main message? 'Clicking Ok is not always Ok!' For example, the campaign warns about viruses on smartphones, Febelfin writes. Read more (NL) |
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FROM THE INSTITUTIONS EBA: Clarification on the status of several disclosure guidelines The European Banking Authority (EBA) provides clarity on the applicability of disclosure guidelines which are replaced totally or partially by the Implementing Technical Standards (ITS) on Pillar 3 disclosure. The amending Guidelines ensure the continuity of public disclosures on non-performing and forborne exposures by all credit institutions. Read more
EIOPA: Progress on supervising the propriety of (re)insurers’ administrative, management and supervisory body members
The European Insurance and Occupational Pensions Authority (EIOPA) published a follow-up report to the 2019 peer review on the propriety assessment of administrative, management and supervisory body (AMSB) members and qualifying shareholders across the European Economic Area. The follow-up report assesses how national competent authorities (NCAs) have implemented the actions recommended in the original peer review. Read more
SRB: Margin for redemptions of eligible liabilities
The Single Resolution Board (SRB) and the European Central Bank (ECB) have reached an “in principle” agreement on the margin for redeeming eligible liabilities. The new “in principle” agreement is applicable to authorisations granted as of 1 January 2023, including General Prior Permission (GPP) renewals. Read more |
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FROM THE EBF
EBF Response to ESMA Consultation on Product Governance
The EBF submitted its response to the ESMA Consultation on the review of the Guidelines on MiFID II product governance requirements. 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.
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