| EBF MORNING BRIEF Thursday 7 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.
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FROM THE MEDIA
Reuters Breakingviews: Bank capital rules are only half fixed The conventional wisdom in banking circles is that the pandemic of 2020 has vindicated the post-2008 drive to make lenders more robust. It’s a comforting story, but only the first part is true, writes Liam Proud. Read more
The Banker: UK lockdown ‘credit negative for banks' asset quality’
Additional lockdown measures will add negative pressure to banks' profitability, reports the Banker. Read more S&P Global: Nordic banks face higher loan losses in 2021 Large Nordic banks have recorded significantly lower loan loss provisions than European peers during the pandemic, but there are risk factors that could end this track record this year, writes S&P Global. Read more |
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FROM THE EBF MEMBERS
SwissBanking: Financial Market Supervisory Authority strategic goals The Swiss Financial Market Supervisory Authority, FINMA, published its strategic goals for the years 2021 to 2024. These have been approved by the Federal Council and show which topics the authority will focus on in particular, says the Swiss Bankers Association (SwissBanking). Read more (DE) Finans Norge: Norwegian regulations are harmonized with the EU The proposed implementation in Norway is largely in line with the EU banking package regulations on capital requirements and crisis management regulations. At the same time, there are several key issues that need to be clarified and investigated in more detail, writes Finans Norge in a recently issued consultation statement. Read more (NO) NVB: Brexit information platform "BankenBrexit" BankenBrexit is an information platform of the Dutch Banking Association (NVB), where you will find up-to-date general information about Brexit and its consequences. Read more (NL) |
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FROM THE INSTITUTIONS
ECB: The digital economy and the euro area
Digitalisation – the diffusion of digital technologies leading to a digital economy – is “virtually everywhere”. It transforms patterns of consumption and production, business models, preferences and relative prices, and thereby entire economies, making it an important issue from a central banking perspective. Some of the key effects of digitalisation relevant to monetary policy relate to output and productivity, labour markets, wages and prices, write economists Robert Anderton, Valerie Jarvis, Vincent Labhard, Filippos Petroulakis, Ieva Rubene and Lara Vivian in the latest ECB publication. Read more
SRB & BoE bank resolution cooperation arrangement comes into force
The Single Resolution Board (SRB) has highlighted that its cooperation arrangement with the Bank of England (BoE) to facilitate bank resolution while maintaining financial stability in the European Union and the United Kingdom came in to effect on 01 January. Read more ESMA launches a CSA with NCAs on the supervision of UCITS The European Securities and Markets Authority (ESMA) is launching a Common Supervisory Action (CSA) with national competent authorities (NCAs) on the supervision of costs and fees of UCITS across the European Union (EU). The CSA will be conducted during 2021. Read more
BIS: Carolyn Rogers interview in Börsen-Zeitung
Carolyn Rogers, Secretary General of the Basel Committee on Banking Supervision, spoke to Bernd Neubacher and Tobias Fischer from Börsen-Zeitung about banking regulation in the light of Covid-19, climate change and financial innovation. 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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