EBF MORNING BRIEF Thursday 17 November 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 Reuters: ECB's Panetta says green transition may help cut inflation Greater use of renewable energy doesn't necessarily translate into higher prices and it may in fact help cut inflation compared to continued reliance on fossil fuels, European Central Bank (ECB) board member Fabio Panetta said. According to Reuters, he made the case for lower taxes or subsidies for green energy and the opposite for fossil fuels. Read more
Bloomberg: ECB’s Guindos expects repayments of long-term loans
European Central Bank (ECB) Vice President Luis de Guindos expects a “sizable” early repayment of its so-called TLTRO loans to banks and reckons that will help ease a collateral shortage in the financial system. As reported by Bloomberg, he also said officials would consider stopping reinvesting securities bought up as part of monetary stimulus. Read more
PYMNTS: EU targets Apple Pay’s exclusive access to iPhone NFC chip
For the future of mobile payments in the EU, the continent’s mobile wallets may not be limited to QR code-initiated payments for long. As reported by PYMNTS, two regulatory developments may force changes in Apple’s stranglehold on iPhone NFC usage. New possibilities for open banking could further the EU’s ambition to reduce the influence of foreign actors within the European payments landscape. Read more |
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MAIN EVENTS
Thursday 17 November
Council Working Party on Tax Questions (Indirect Taxation) European Securities and Markets Authority Board of Supervisors meeting Friday 18 November Council Working Party on Tax Questions (Indirect Taxation) Council Horizontal Working Party on Cyber Issues For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS Finance Finland: AML needs European harmonization Anti-money laundering (AML) and counter-terrorist financing are in need of Europe-wide, harmonized regulation. "This way the prevention of cross-border money laundering crime would be more effective, but entities would still have enough flexibility to rely on their individual risk assessments,” says Mika Linna, Head of financial crime and cybersecurity at Finance Finland. Read more
AEB: Financial stability and banking stability
The Spanish banking sector is facing the current complex situation with an improvement in profitability in line with the cost of capital required by investors, says José Luis Martínez Campuzano, spokesperson for the Spanish Banking Association (AEB). Within this context, banks must exercise extreme prudence and caution, both when providing financing and when managing their balance sheets. Read more (ES)
Finance Latvia: Residents' interest in housing loans remains stable
The event organized by banking experts of Finance Latvia on housing lending news in Latvia and the Baltic states concluded that the increase in the EURIBOR rate will affect the monthly payment of the housing loan. However, it is predicted that most households will be able to meet their loan obligations. Read more (LAT) |
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FROM THE INSTITUTIONS ECB: Greener and cheaper Supply and demand for fossil fuels and renewable energy will determine how energy prices evolve in the future, according to European Central Bank (ECB) Executive Board member Fabio Panetta. "Greener can mean cheaper, but this depends crucially on the policies we adopt," he says. Read more
BIS: Public-private partnership key to the success of a Digital Euro
Burkhard Balz, a Member of the Executive Board of the Deutsche Bundesbank outlined why Europe is exploring a Digital Euro in an intervention at the Bitkom Digital Euro Summit. In the speech published by the Bank for International Settlements (BIS), she also presents the potential core features a digital euro might have. Read more
EC: DSA: EU's landmark rules for online platforms enter into force
A new set of rules for a safer and more accountable online environment entered into force with the Digital Services Act (DSA). As reported by the European Commission (EC), DSA applies to all digital services that connect consumers to goods, services, or content. It creates comprehensive new obligations for online platforms and places digital platforms under a unique new transparency and accountability framework. Read more |
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FROM THE EBF
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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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