EBF MORNING BRIEF Thursday 20 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
Reuters: ECB to warn of risks in its opinion on Spanish tax proposal
The European Central Bank (ECB) is set to warn of the adverse impact on Spanish banks' solvency of a proposed tax on the sector and of a higher cost of credit in an upcoming non-binding opinion. "Attention will be drawn to the adverse impact on solvency and to risks for the transmission of monetary policy, as higher taxes could lead to an increase in the cost of loans," one of the sources told Reuters. Read more Bloomberg: London tries to divert hunt from tax raid on banks Concerns are mounting in the City of London about higher taxes being imposed on banks as the UK government seeks to fill its funding black hole. As reported by Bloomberg, Chancellor Jeremy Hunt’s assertion that nothing “is off the table” when considering windfall taxes has sparked alarm among banks. Read more FT: Ireland relaxes crisis-era mortgage rules Ireland’s central bank has relaxed rules for first-time buyers despite rising mortgage costs and concerns that it will only lead to higher prices and aggravate the country’s housing crisis. According to the Financial Times (FT), first-time buyers will indeed be allowed to borrow more but high costs and acute housing shortage remain. Read more |
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MAIN EVENTS Thursday 20 October Friday 21 October For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS BPFI: Central Bank changes to mortgages measures framework The Banking & Payments Federation Ireland (BPFI) notes the announcement by the Central Bank of Ireland in relation to changes to the Mortgage Measure Framework. "We support the implementation of the measures," says Brian Hayes, Chief Executive at BPFI. Read more
AEB: Banking sector roadmap solutions to improve financial inclusion
The Spanish Banking Association (AEB) and Spanish financial institutions declared total commitment to improving financial inclusion, by implementing physical access points to banking services in all Spanish municipalities. Their engagement is based on a roadmap to strengthen financial inclusion but also on the Strategic Protocol to Strengthen the Social and Sustainable Commitment of the Bank. Read more (ES)
UK Finance: Card acquirer market review
An important milestone has been reached with the publication of the Payment System Regulator’s (PSR) Final Policy Statement. Duncan McEwen, Payments Manager at UK Finance discusses PSR with Marc Docherty, Head of UK Acquiring at Worldline. Read more |
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FROM THE INSTITUTIONS
ESMA will not perform the November SI and liquidity calculations for bonds due to quality issues
The European Securities and Markets Authority (ESMA) will exceptionally make available only the SI regime calculations for equity, equity-like and non-equity instruments by 1 November. Read more
ECB: Which workers are most affected by changes in the policy rate?
A blog by the European Central Bank (ECB) investigates how the change in the policy rate affects wages depending on the characteristics of employees and firms, such as firms’ size and their access to credit. Results show that the effects are symmetric during times of easing and tightening. Read more
BIS: The ECB mandate: maintaining price stability in the euro area
Joachim Nagel, President of the Deutsche Bundesbank speaks about the mandate of the European Central Bank (ECB) to maintain price stability. In the speech published by the Bank for International Settlements (BIS), he also dives into the current inflation dynamics and their drivers. Read more |
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FROM THE EBF
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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