EBF MORNING BRIEF Thursday 30 November 2023 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
FT: Deutsche Bank chief says EU should consider scrapping bonus cap
Christian Sewing, Deutsche Bank’s chief executive, has said that Europe should consider lifting a cap on banker bonuses. “If this is done in most parts of the world where major financial institutions are sitting, we need to take it into account and consider [how] to stay competitive and get these talents,” Sewing said at the Financial Times (FT). Read more
Reuters: ECB could take a bigger role in supervising shadow banks
The European Central Bank (ECB) may need to take on a bigger role in supervising shadow banks as they are now bigger than conventional lenders and may be sitting on elevated risk, Andrea Enria, ECB supervisory board Chair said in an interview heard by Reuters. Read more
CoinDesk: Crypto that act like banks should be regulated like them
If a crypto firm starts acting like a bank, it should be regulated like one, which won't be easy, said Andrea Enria, chair of the supervisory board at the European Central Bank (ECB), during an interview with CoinDesk. The ECB's planned digital euro and private crypto aren't a threat to the role of banks, Enria added. Read more |
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MAIN EVENTS
Thursday 30 November
Friday 1 December
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FROM EBF MEMBERS
SBA: Basel III Final: megaproject on the final straight
The Federal Council’s decision on the implementation of the “Basel III Final” in Switzerland marks a key milestone in banking regulation. The Swiss Bankers Association (SBA) has campaigned intensively in recent years for an effective, pragmatic, and reasonable implementation. Read more FBF: French banks serving the ecological transition French banks are committed to the fight against climate change. They are increasingly financing the transition projects of their clients, businesses, or individuals. As reported by the French Banking Federation (FBF), in 2022 the amount of green and sustainable credits has more than doubled compared to 2021. Read more (FR)
NVB: Assistance with digital banking and payments
The rapid digitalization of society poses a major challenge for one in six adult Dutch people. The DigiHulplijn offers telephone support to people who have difficulty with digital banking and services. From now on, it will work closely with banks, and the Dutch Banking Association (NVB) to answer questions even better. Read more (NL) |
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FROM THE INSTITUTIONS
ECB: Raising rates for borrowers and savers
Remuneration on savings accounts should reflect our interest rates as part of our monetary policy transmission, European Central Bank (ECB) Vice-President Luis de Guindos says. The ECB is taking measures to reduce excess liquidity, so higher rates on savings will become a reality sooner or later. Read more EBA: Consultation on standards for assessing the materiality of extensions and changes to the new market risk internal models under the Fundamental Review of the Trading Book The European Banking Authority (EBA) launched a consultation on its draft Regulatory Technical Standards (RTS) on the conditions for assessing the materiality of extensions and changes to the use of internal models and on the subset of the modellable risk factors applicable under the Fundamental Review of the Trading Book (FRTB) rules. Read more
European Council: Provisional agreement with EP on instant payments
The European Council and the European Parliament (EP) have reached a political agreement on the instant payments proposal, which will improve the availability of instant payment options in euro to consumers and businesses in the EU and in EEA countries. It will improve the strategic autonomy of the EU economic and financial sector as it will help reduce any excessive reliance on third-country financial institutions and infrastructures. Read more |
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FROM THE EBF
Report of the C-ESG Risk Roundtable Data Workstream
This report is a result of the joint work of the WS members facilitated by Nordea Bank Abp in its role as Data WS (DWS) chair. The objective of the report was to identify commonly applied practices for addressing data and methodological uncertainties associated with disclosures against the Implementing Technical Standards (ITS) on prudential disclosures and ESG risks (Pillar 3). Read more
European Retirement Week: European associations set out recommendations to ensure pension adequacy for all
During the launch of European Retirement Week in Brussels, the 14 European associations presented to EU policymakers key recommendations to ensure pension adequacy for all. The recommendations contribute to the debate on how to strengthen and ensure affordable and sustainable pension systems in the EU. Read more
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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