| EBF MORNING BRIEF Thursday 24 February 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.
Recommend the EBF newsletters to a colleague. Click here to sign up!
|
|
|
FROM THE MEDIA
POLITICO: EU hits 3 Russian banks in sanctions’ package
The EU will sanction three Russian banks as part of its response to Russia's decision to send troops into Ukraine, POLITICO reports. The three banks are Rossiya Bank, Promsvyazbank, and VEB. The penalties will bar each organization from doing business with companies in the EU while limiting their access to European capital markets. According to one EU official, “the logic is to deprive the Russian state and government bodies access to European capital markets,” and that “the idea is to cut this access also to the central bank.” Read more Bloomberg: ESG debt valuations feeding Capital Markets risk Firms are booking the value of so-called sustainability-linked bonds and loans in inconsistent ways, the European Securities and Markets Authority (ESMA) has found. The development has the potential to “negatively affect the decision-making of financial market participants and thus the efficient functioning of capital markets,” ESMA told Bloomberg. Read more Finextra: EU Taxonomy - A gamechanger for Sustainable Finance As reported by Finextra, financial institutions will have an obligation to disclose the environmental objectives of their investments and the proportion of underlying sustainable funds that align with the European Union (EU) taxonomy. Financial institutions have to focus on new guidelines, frameworks, and methodologies to assess and engage with stakeholders, bringing in more transparency in the world of finance. Read more |
|
MAIN EVENTS -
The Eurofi High Level Seminar 2022 -
-
-
-
-
-
For a full-year overview of key financial regulation events: click here
|
|
FROM THE EBF MEMBERS BdB: ECB climate stress test points the way ahead for banks The Association of German Banks (BdB) gave a first outlook on the European Central Bank (ECB)'s upcoming climate stress test, whose results are expected in early July 2022. "For the first time, the European banking supervisory authority is specifically testing the significance of climate risks, especially for banks' risk management. This is good and the right thing to do," said Torsten Jäger, Head of Sustainability at the BdB. Read more (DE)
Finance Norway: Medicine against the change of competence?
Finance Norway published a report on how wage formation takes place in the financial industry, explaining and documenting why wage growth has been higher than the front-line framework. A factor contributing to this is the higher level of competence. Read more (NO)
AEB: Appointment of the AEB president
Following José María Roldán Alegre's decision not to opt for a third term as President of the Spanish Banking Association (AEB), the first five banks represented in its General Council have agreed, in accordance with its bylaws, to present the candidacy of Alejandra Kindelán to the General Assembly of the Association held in April 2022. Read more (ES) |
|
FROM THE INSTITUTIONS ECB: Towards a stronger AML/CTF framework in the EU Frank Elderson, Member of the Executive Board of the European Central Bank (ECB) spoke on the proposed regulation establishing the AML/CFT Authority, AML Regulation, the sixth AML Directive, and the Funds and Crypto-assets Transfers Regulation. "It is important for the ECB to factor the outcomes of AML/CFT supervision into its prudential supervisory processes," he said. Read more ESMA: Call for evidence on climate risk stress testing for CCPs The European Securities and Markets Authority (ESMA) launched a call for evidence on the methodology to assess climate risk with a new stress testing framework for Central Counterparties (CCPs). To support the EU's efforts in improving the financial sector’s resilience and contribution to sustainability, ESMA has started developing a climate risk stress testing framework tailored to the specificities of CCPs. Read more
ECB: Corporate sustainability due diligence
The European Commission has adopted a proposal for a Directive on corporate sustainability due diligence to foster sustainable and responsible corporate behavior throughout global value chains. Under this proposal, companies will be required to identify and, where necessary, prevent, end or mitigate adverse impacts of their activities on human rights, such as child labor and exploitation of workers, and on the environment. Read more |
|
FROM THE EBF
Joint Conclusions from the EBF, EACB, EAPB and ESBG workshop
On 18 February 2022, the four European banking associations (EACB, EAPB, EBF, and ESBG) cohosted the “Access to better technology for (Supervisory) Reporting” workshop that brought together the entire European banking industry, the European Banking Authority (EBA), and the international RegTech community to exchange views and learn from each other on how RegTech solutions could help banks reduce their reporting costs and what are the hurdles to clear along the way. Read more
EBF Vacancies: Work with us!
Visit our Vacancies page to learn more about the opening positions at the EBF. Read more |
|
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 |
|
|
This newsletter is published by the EBF Mediacentre. If you do not want to receive the EBF Morning Brief click here.
For questions or suggestions contact v.barbieri@ebf.eu
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium |
|
|
|
