EBF MORNING BRIEF Thursday 28 January 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. Recommend the EBF newsletters to a colleague. Click here to sign up! |
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FROM THE MEDIA CNBC: âRoaring 20sâ after the pandemic? Barclays CEO Jes Staley has compared the pent up demand currently in the global economy to the end of the 1918 flu pandemic and the subsequent âRoaring 20s.â Speaking on a panel at the World Economic Forumâs virtual Davos Agenda event, Staley laid out the British lenderâs expectations for a strong second half of 2021, providing the Covid-19 pandemic can be wrestled into submission by vaccines and containment measures. Read more The Block: Technology questions remain for digital euro As Eurosystem officials weigh the creation of a wholly digitized version of the euro, one area of debate â the actual technological underpinnings of such a currency â have yet to be answered, the Block reports. ECB head Christine Lagarde spoke to this area of continued inquiry on January 21st. Read more Reuters: The Brexit impact so far European daily share trading worth 6 billion euros ($7.36 billion) left the City of London for the continent in early January, along with a chunk of swaps trading. That raises questions over the value of any future EU access, given that UK banks and trading platforms have opened units in the bloc. Read more |
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MAIN EVENTS today Council of Europe's International Data Protection Day. Learn more EBF DPO forum, second series on data protection EBF Communications Steering Group meeting "Financial cycles, risk, macroeconomic causes and consequences", LSE conference |
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FROM THE EBF MEMBERS Hellenic Banking Association: "First Steps to Finance" free digital book To mark the opening of the national registration go the European Money Quiz in Greece, the Hellenic Banking Association (HBA) has published the digital book "First Steps to Finance" for free on its website. The book provides definitions and advice on a range of up-to-date issues and can be used as an easy-to-use guide for teachers to introduce financial literacy topics to the classroom. Read more (GR) Bankenverband: EU taxonomy, cultural change in the credit business? Banks have a lot to do with taxonomy. It defines what can be classified as sustainable economic activity in the future and is the core instrument of the EU action plan âSustainable Financeâ. The Association of German Banks (Bankenverband) supports the aim of the EU Commission to use the taxonomy to create and expand a classification system with standardized terms for sustainable economic activities. Read more (DE) Finance Denmark: CEO Ulrik NĂždgaard for less pressure to associations Associations are an important part of Danish cultural and sports life. However, most associations need a bank account. The fight against money laundering and terrorist financing can negatively affect associations. "If the banking industry is allowed by politicians, we want to ease the pressure on associations" writes Ulrik NĂždgaard, CEO of Finance Denmark. Read more (DK) |
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FROM THE INSTITUTIONS ECB: How much capital should banks hold? The European Central Bank (ECB) has published an article exploring how much capital would be optimal for banks to hold taking into consideration the risk of banking crises driven by borrower defaults. It concludes bank capital requirements of around 15% provide the optimal trade-off between lowering the frequency of banking crises caused by borrower defaults and maintaining the availability of credit in normal times. Read more Revised ESM treaty to become backstop to the Single Resolution Fund Members of the European Stability Mechanism (ESM) have signed the Agreement Amending the Treaty Establishing the ESM. The Agreement provides a legal basis for a set of new tasks assigned to the ESM. The reformed Treaty will come into force when ratified by the parliaments of all 19 ESM Members. Once ratified, the ESM will become the backstop to the Single Resolution Fund (SRF). The revised treaty also gives the ESM a stronger role in future economic adjustment programmes and crisis prevention. ECON calls for re-evaluation of systemic risk in the financial sector The European Parliamentâs Committee on Economics and Monetary Affairs (ECON) has published its report for plenary adoption on the European Central Bank Annual Report 2020. Among other things, the report calls for an urgent re-evaluation of systemic risk in the financial sector following the pandemic. 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. The EBF 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. |
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This newsletter is published by the EBF Mediacentre. For questions or suggestions contact mediacentre@ebf.eu Recommend the EBF newsletters to a colleague. Click here to sign up! European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium |
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