FROM THE MEDIA

FT: Deutsche Bank boss calls on ECB to tighten monetary policy as inflation surges

As reported by The Financial Times (FT), the Chief Executive of Germany’s biggest bank has called on central bankers to tighten monetary policy to provide “countermeasures” against surging inflation. “The supposed cure-all of the past years, low-interest rates with seemingly stable prices, has lost its effect; now we are struggling with the side effects. Monetary policy must counteract this sooner rather than later”, Deutsche Bank’s Chief Executive Christian Sewing said. Read more

Reuters: ECB Lagarde keeps pushing back on rate hike bets and hopes

Tightening monetary policy now to rein in inflation could choke off the euro zone's recovery, European Central Bank (ECB) President Christine Lagarde said, pushing back on calls and market bets for tighter policy. Lagarde admitted the inflation spike will be higher and longer than once thought but maintained it would fade next year, so policy action now would hit the economy just as price growth starts to moderate on its own, Reuters reports. Read more

Risk.net: EU’s Basel III delay invites all to play for time

The implications of the European Commission's decision to derogate from international accords’ timelines may go well beyond the world of capital regulation, according to Risk.net. Its play for time for the remainder of the reforms could now herald postponements by other countries while the EU’s Basel III precedent provides a tu quoque argument to governments demanding relaxed timetables to meet international commitments. Read more

MAIN EVENTS

• Council Working Party on Financial Services and the Banking Union (Financial Services)

• European Banking Authority ‘The New Normal in the Banking Sector — Reshaping the Insights’ workshop

• CEPS ‘Setting EU CCP policy — much more than meets the eye’ webinar

• Bundesbank ‘Analytical tools for monetary policy’ course

• Bundesbank ‘Introduction to cash management — branch operations’ course

• Georgetown University Financial markets quality conference

• IAIS annual conference

• European Internet Forum ‘EU cybersecurity strategy — how to ensure a more cybersecured EU?’ event

• 10Times 'Green Growth & Sustainable Development Forum' event

For a full-year overview of key financial regulation events: click here

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FROM THE EBF MEMBERS

UK Finance: Confirmation of Payee – the journey so far

The pandemic saw online payment volumes rise substantially but fraud levels also grew. In a blog for UK Finance, David-Jan Janse, CEO, and co-founder of SurePay examines how Confirmation of Payee (CoP) can help to fight fraud. Read more

Finance Finland: Commissioner McGuinness: European banks handled their huge role during the COVID-19 crisis very well

On Friday, Mairead McGuinness, the European Commissioner for Financial Services, Financial Stability, and Capital Markets Union, met with the Board and management of Finance Finland. The main topics of discussion concerned the Commission’s proposals for the completion of Basel III, which governs the capital requirements of banks, the review of insurance companies’ Solvency II regulation, and sustainable finance. Read more

AEB: Responsible credit

José Luis Martínez Campuzano, spokesperson for the Spanish Banking Association (AEB) addresses how Spanish companies feel about the current granting of credit by banks while sharing figures from the most recent surveys by the European Central Bank (ECB). "Banks are redoubling their efforts to maintain the financing that the economy needs, in accordance with objective and responsible criteria, so that the incipient economic recovery is built on solid foundations", he says. Read more (ES)

FROM THE INSTITUTIONS

EBA: First examination program for resolution authorities

The European Banking Authority (EBA) published a European Resolution Examination Programme (EREP) for 2022, which identifies key topics for resolution authorities’ attention across the European Union. Read more

ECB: Hearing of the Committee on Economic and Monetary Affairs of the European Parliament

European Central Bank (ECB) President Christine Lagarde spoke before the Committee on Economic and Monetary Affairs and answered questions from its members. "The flexibility that has shaped our accountability practices in recent years has paid off and we should build on that", she said. Read more

BIS: Margarita Delgado: Economic and regulatory support policies and exit strategies

Margarita Delgado, Deputy Governor of the Bank of Spain discussed the support policies to mitigate the consequences of the global pandemic and the subsequent exit strategies for those measures. "The swift and coordinated response by economic authorities in the fiscal, monetary and prudential areas has been key to prevent that the pandemic shock, becomes more persistent, widespread and, potentially systemic", she said in her speech published by the Bank for International Settlements (BIS). Read more

FROM THE EBF

EBF on the EU Platform’s Preliminary Recommendations for Technical Screening Criteria for the EU Taxonomy

The EBF welcomes the work being done by the EU Platform on Sustainable Finance to define the Technical Screening Criteria for the remaining environmental objectives of the Green Taxonomy. In this paper, EBF shares the key messages and suggestions. 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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European Banking Federation