EBF MORNING BRIEF Thursday 18 November 2021 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
CNBC: ECB warns of bubbles in property and financial markets
The European Central Bank (ECB) warned of stretched valuations in many asset markets, as the region continues to recover from the coronavirus pandemic on the back of ultra-low interest rates and massive stimulus measures. As reported by CNBC, the euro zone’s central bank mentioned vulnerabilities in property and financial markets, adding that “risk-taking by non-banks and elevated sovereign and corporate debt is building up”. Read more
S&P Global: Warning of risk to recovery, EU banks clash with regulators over capital rules
New regulations, particularly the final Basel III capital rules, may hamper banks' ability to finance Europe's post-pandemic recovery and support investments in the green economy transition, according to BNP Paribas SA Chairman Jean Lemierre and Deutsche Bank AG CEO Christian Sewing. Officials from several EU countries, including France and Germany, have also asked European regulators to amend a key component of the final Basel framework known as the output floor, S&P Global reports. Read more
Finextra: Amazon to ban Visa credit cards in the UK
Amazon UK is to stop accepting credit cards from Visa, blaming the ban on the 'high cost of payments'. The move, which will take affect from 19 January, will exempt purchases made with Visa debit cards, Finextra says. Read more |
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MAIN EVENTS
Thursday 18 November
Council Working Party on Tax Questions (Indirect Taxation) Council Horizontal Working Party on Cyber Issues Friday 19 November EBF Tax reporting Working Group online meeting
For a full-year overview of key financial regulation events: click here
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COMING TODAY! EBF Digital Thursdays 2021 |
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| | Today join EU regulators, private experts, and stakeholders as they discuss CDBCs and payments at the final Digital Thursdays 2021. Experts will explore how CBDCs issuance would change the role of central banks and the banking system overall while providing insights on different CBDCs projects that are underway and touching on the potential integration of a digital euro into the European payments landscape. |
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SECURE NOW YOUR VIRTUAL SEAT! |
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FROM THE EBF MEMBERS
NVB: The bank as a gatekeeper
The international organization set up by the G7 to tackle money laundering, the Financial Action Task Force, will this year check whether the Netherlands has taken steps to combat money laundering more effectively. What is going well and what could be improved? What can we reasonably expect from the bank and what steps should the government take to more effectively thwart criminals? In this episode of the Dutch Banking Association (NVB)'s podcast, spokesperson Jelle Wijkstra searches for answers. Read more (NL)
BPFI: SME Banking Supports - through COVID Recovery and Beyond
The Banking & Payments Federation Ireland (BPFI)'s updated guide on 'SME Banking Supports - through COVID Recovery and Beyond' provides important information on the range of banking supports available to SMEs now and into the future. Read more
FBF participated in the GNI-HCR Annual Congress
Maya Atig, Managing Director of the French Banking Federation (FBF) spoke at a roundtable of the GNI-HCR Annual Congress. The discussions showed the will and the need to work together with the players involved, in particular BPI France and the Banque des Territoires. The Managing Director of the FBF recalled that French banks remain fully mobilized alongside their corporate clients. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: Financial Stability Review
The European Central Bank (ECB) has published its Financial Stability Review. According to the document, the economic recovery in the euro area has reduced immediate risks from the pandemic. The likelihood of high numbers of corporate defaults and bank losses is now significantly lower, but risks have not disappeared entirely. Read more
European Commission: McGuinness on European Payment Industry
The European Commission has published Commissioner’s McGuinness keynote speech at European Payment Institutions Federation Annual Conference. She argued that Instant payments can increase competition and diversify the payment options offered to consumers, noting that given the current level of market concentration, this is key. Besides, she conceded that PDS2 has not lived up to expectations. Read more
EBA announces timing for publication of 2021 EU-wide transparency exercise and Risk Assessment Report
The European Banking Authority (EBA) announced that its 2021 Risk Assessment Report and transparency exercise with bank by bank data will be released on Friday 3 December at 18:00 CET. Read more |
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FROM THE EBF
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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