| EBF MORNING BRIEF Thursday 2 December 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
Reuters: ECB governors mull delaying call on future bond buys as outlook murky
A growing number of European Central Bank (ECB) governors are considering delaying part of a decision on the ECB's stimulus plans as the outlook has been muddied by a new coronavirus variant and mounting price pressures, sources said to Reuters. The ECB's Governing Council will meet on Dec. 16 to decide whether to end its emergency bond purchases in March and how much debt to buy after that date in an effort to stabilize inflation in the eurozone at 2%. Read more
International Banker: The real digital challenge in banking
Clients entrust banks with their money and personal information. As long as this trust exists, banks enjoy a significant competitive advantage over the many technology providers, the International Banker points out. However, traditional banks should not replicate practices that seem to be acceptable in the digital world, such as refusing to provide clients with access to human staff. Besides, a strategy that relies on regulatory red tape to keep new competitors away will not work in the long run. As long as there is a level playing field on financial safety and integrity, there is simply no political justification for not encouraging competition. Read more
FT: UBS raids JPMorgan for new finance chief Sarah Youngwood
UBS has poached a top executive from JPMorgan Chase to be its chief financial officer, completing an overhaul of the senior management at Switzerland’s biggest bank since Ralph Hamers started as chief executive just over a year ago. Sarah Youngwood, who ran JPMorgan’s consumer business, will replace UBS’s veteran finance chief Kirt Gardner in May, the Financial Times (FT) reports. Read more |
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MAIN EVENTS
Thursday 2 December
Friday 3 December For a full-year overview of key financial regulation events: click here |
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COMING TODAY! WAKE UP TO THE PENSION CHALLENGE
Joint event by EBF, Insurance Europe & BETTER FINANCE |
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 | The "Wake up to the pension challenge" event by EBF, Insurance Europe & @Better Finance is coming today! Start the day with a stimulating short exchange between BETTER FINANCE's Aleksandra Maczynska, European Banking Federation's Wim Mijs, and Insurance Europe's Michaela Koller on the importance of financial literacy in boosting pension resilience. Anne Nolan, associate research professor at Ireland's Economic and Social Research Institute will also join us to share her insights. |
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SECURE YOUR VIRTUAL SEAT NOW! |
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FROM THE EBF MEMBERS
LBA: Act with purpose, make a positive impact on the world
The festive season is just around the corner and the Liechtenstein Banking Association (LBA) would like to use this time to raise awareness of the UN 17 Sustainable Development Goals. To raise awareness, the LBA has launched an online Christmas calendar that will take a closer look at one SDG on each working day. Read more
HUB: Significant recovery in retail lending at historically lowest interest rates
With GDP recovering in the third quarter at a rate of 15.8% compared to the third quarter of last year, the government's forecast of 9% growth this year seems likely. Real turnover in retail trade in October was 9.5% higher than in October 2020. These positive trends are also evident in the credit market, especially in retail lending. This is what emerges from the Review published by the Croatian Banking Association (HUB). Read more (HR)
Febelfin: Money mules: 14% of young people prepared to lend their bank card in exchange for money
Criminals promise money mules that they can earn money quickly in exchange for lending them their bank account and bank card and PIN number. Young people are very susceptible to becoming money mules, research by Febelfin in collaboration with IndiVille shows. Figures indicate that 14% of young people (between the ages of 16 and 30) would lend out their bank card and PIN in exchange for money. In 2019, this was about 10%. Read more (NL) |
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FROM THE INSTITUTIONS
ESAs renew their Board of Appeal
The three European Supervisory Authorities (ESAs) – the European Banking Authority (EBA), European Insurance and Occupational Pensions Authority (EIOPA), and European Securities and Markets Authority (ESMA) – announced the new composition of their Board of Appeal. The new members and alternates take up their positions as of 1 December 2021. Read more
EBA: Sample of banks participating in the December 2021 mandatory Basel III monitoring exercise
The European Banking Authority (EBA) published the sample of banks for the mandatory Basel III monitoring exercise, which will refer to December 2021 data. The exercise is expected to be launched at the end of January 2022 and its results are to be published at the end of September 2022. Read more
EIOPA: Advice on pensions tools to the European Commission
The European Insurance and Occupational Pensions Authority (EIOPA) published its advice to the European Commission on two pensions tools, the pension tracking system, and the pensions dashboard. The advice is an important step towards raising citizens’ awareness of their future retirement income, enhancing the monitoring of national pension systems and ultimately a way forward in closing pension gaps. Read more |
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FROM THE EBF
EBF contribution to the ongoing debate on a Central Bank Digital Euro #3: How does a digital euro fit the payments landscape?
Substantial efforts have been deployed by policy makers and financial industry to create a Single Market for payments up to today. The EBF #3 paper takes a closer look at the expected impact by the digital euro on this market, and what design aspects are essential to consider in return. Read more
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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