| EBF MORNING BRIEF Tuesday 15 March 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
FT: Banking union is essential if the EU is to ride out future crises
The European banking sector must be helped to play its part in delivering Europe’s green and digital transition, President of the Eurogroup Paschal Donohoe writes in the Financial Times (FT). "The EU must have a banking sector that fully plays its role in supporting the ambitious and vital investment needed for a more digital and lower carbon future. This would allow member states to focus their spending on humanitarian support and public goods, such as the defense of the European values", he says. Read more Bloomberg: ECB: Just 15% of banks disclose financed CO2 emissions The European Central Bank (ECB) is pushing lenders to disclose more information on the climate and environmental risks they face after finding that just 15% publish data on the emissions they finance. The ECB has told banks “to take decisive action,” as only around half of institutions release relevant performance or risk data, Bloomberg reports. The watchdog expects to see “major progress” by year-end, according to a top official. Read more
PYMNTS.com: European banks to isolate Russian FI computer networks
As reported by PYMNTS, European banks with branches in Russia are separating those financial institutions (FIs) from their computer networks. Commerzbank, one of the largest banks in Germany, is readying to suspend its Russian unit from its network while Deutsche Bank is "taking a proactive stance on cyber risks emerging in Ukraine". Also, BNP Paribas, the Paris-based international banking group, barred its Russia-based staff from its internal computer systems to protect against any potential cyberattack. Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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COMING TODAY! Making it count: How to boost
your bank’s performance with DE&I |
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 | Today, the European Banking Federation (EBF) and S&P Global Market Intelligence will host the 'Making it count: How to boost your bank’s performance with DE&I' webinar. During this webinar, our speakers will explore how DE&I can boost the performance of European banks, not just financially, but also in terms of innovation, productivity, stakeholder engagement, and customer & employee satisfaction. Register here |
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FROM THE EBF MEMBERS Finance Denmark: Young people break the vicious circle According to a study carried out by Finance Denmark and the Danish Consumer Council, fewer young people are ending up as bad debtors nowadays. This has been attributed to record low youth unemployment, Covid-19, and the regulation of quick loans. The two organizations also suggest that education in personal finance can provide tools for managing finances and should be given higher priority. Read more (DK) UK Finance: SCA as a means to prevent fraud Strong Customer Authentication (SCA) is changing the way people pay online and helping prevent fraud. From 14 March, SCA has been fully implemented. This measure will go a long way to prevent unauthorized fraud, which caused £261.7 million of losses in the first half of last year for online card transactions, reports UK Finance. Read more
Febelfin: Belgians are increasingly banking online
Belgians are increasingly relying on online banking, but which channels are used most often, and for what purpose? Febelfin's new brochure contains the latest figures on digital and physical banking, including branch network and withdrawals. Read more (NL) |
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FROM THE INSTITUTIONS ECB: Banks must get better at disclosing climate risks The European Central Bank (ECB) published an updated assessment of the progress European banks have made on disclosing climate and environmental risks as set out in the ECB’s November 2020 guide. Although there have been improvements since the ECB’s first assessment, no bank fully meets the supervisory expectations. Banks must get better at disclosing climate and environmental risks, and need to adjust their practices without delay, says the ECB. Read more
ESMA: Coordinating regulatory response to the war in Ukraine
The European Securities and Markets Authority (ESMA), in coordination with National Competent Authorities (NCAs), is closely monitoring the impact of the Ukraine crisis on financial markets and is prepared to use its relevant tools to ensure the orderly functioning of markets, financial stability and investor protection. This is part of the European Union’s overall response to the tragic consequences of Russia’s military aggression. Read more EBA: José Manuel Campa interview with the Polish Bank Association The European Banking Authority (EBA) Chairperson, José Manuel Campa, has been interviewed byPaweł Minkina and Maciej Rudke from the Polish Bank Association, in cooperation with the Business Insider. In this interview, Campa discusses the recent geopolitical developments, Cybersecurity and Fintech. Read more |
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FROM THE EBF
EBF Response: ESMA Call for Evidence on Market Characteristics for ESG Rating Providers in the EU
While ESG providers remain largely unregulated, their influence is expected to grow considerably. According to the EBF, there are a series of underlying challenges, including discrepancies in ESG measurements and ongoing data quality problems. Read more
EBF supports AFME proposal for temporary changes to the CSDR penalties month-end process
The EBF supports the proposal made by the Association for Financial Markets in Europe (AFME) at the invitation of the Advisory Group on Market Infrastructures for Securities And Collateral (Ami-SeCo) of the European Central Bank (ECB) to set out temporary changes to the month-end processing timetable for CSDR late settlement penalties in order to mitigate and manage problems and delays registered by market participants in the context of the live phase started on February 1st, 2022. Read more
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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