EBF MORNING BRIEF Tuesday 18 May 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
FT: ECB signals inflation and growth expectations are ātilted to the upsideā
The European Central Bank (ECB) policymakers have said growth and inflation in the eurozone are more likely to overshoot expectations, the Financial Times reports. The debate intensifies over whether to slow the pace of bond-buying as the economic outlook brightens. Read more (ā¬)
Il Sole 24 Ore: Olaf Scholz: European rules have proven to be very flexible in times of crisis but the coming years will be decisive
The German Finance Minister Olaf Scholz has been interviewed by the Italian newspaper 'Il Sole 24 Ore' to discuss the Banking Union and global taxation. He stated that a truly integrated Banking Union would increase profitability, financial stability, and sovereignty of the Euro globally. Besides, he highlighted the role of global minimum taxation in stopping multinational enterprises' aggressive tax planning strategies. Read more
AML Intelligence: Europe's AML Action Plan: āAction plan has good ingredients, but we need to get the dish rightā
Wim Mijs, CEO of the European Banking Federation (EBF), speaks about AML supervisory, public-private partnerships, and why the banks' GDPR āstrikes fearā. According to the EBF CEO, fragmentation and lack of data sharing within the EU are some of the reasons behind the many high-profile money laundering scandals that have rocked the bloc in recent years, often leading to heavy fines on banks. Read more |
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MAIN EVENTS EBF for ABBL WG Data Economy & Open Finance
For a full-year overview of key financial regulation events: click here
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REGISTRATION OPEN
Banking Essentials Webinar Managing Credit Risk during the COVID-19 Crisis & Recovery Phase in Europe
Tuesday 25 May 15:30 CEST / 14:30 GMT
Over the past year, the European banking industry has quickly build real-time data and analytics into credit risk systems. Gonzalo Gasos, Senior Director of Prudential Policy & Supervision at the European Banking Federation (EBF), and Arsene Lui, Senior Quantitative Analyst at S&P Global Market Intelligence will explore the impact across the banking landscape and how default assessment plays a pivotal role in the recovery. Register HERE |
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FROM THE EBF MEMBERS
Febelfin: Belgians switch massively to digital payments
The Belgian Financial Sector Federation (Febelfin) and its partners are launching the annual Digital Payments Barometer in collaboration with the VUB. After a year of crisis, the figures show some striking trends, including a major breakthrough across all age groups in contactless card payment. Read more (FR)
UK Finance: European fintech innovation: from build vs buy, to a hybrid model
How can companies opt for a hybrid approach? Katrina Beckwith, VP of Business Development at Episode Six Inc, discusses how the question of build vs buy in Fintech no longer looks so binary. A hybrid partnership approach will indeed allow banks to lower their cost to market while maintaining control of their products. Read more
FBF: Signature of a partnership between the FBF and the CNAF to fight against domestic violence
The French Banking Federation (FBF) and the National Family Allowance Fund (CNAF) have signed an agreement to raise awareness about domestic violence and explain the management of bank accounts in the event of separation. Throughout this partnership, the FBF and the CNAF intend to pool their information resources aimed at different audiences and carry out concrete awareness-raising actions against domestic violence. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: Climate-related risks to financial stability
The European Central Bank (ECB) has been intensifying its quantitative work aimed at capturing climate-related risks to financial stability. Enhanced climate-related disclosures and more effective green financing are essential for a smooth transition towards a sustainable economy and for reducing vulnerability to climate-related risks. Read more
ESAs' report on the implementation and functioning of the EU Securitisation Regulation
The Joint Committee of the European Supervisory Authorities (ESAs) published its analysis of the implementation and the functioning of the EU Securitisation Regulation (SECR), including recommendations on how to address initial inconsistencies and challenges. The report is meant to provide guidance to the European Commission in the context of its review of the functioning of the SECR. Read more
EBA: Report on Member Statesā reliance on external credit ratings
The European Banking Authority (EBA) published a report that analyses the extent to which Member States' national law relies on external credit ratings. Based on a survey among EU banking supervisors, no mechanistic reliance on external credit ratings was identified. The EBAās assessment will ensure a comprehensive overview of the reliance on ratings for regulatory purposes ahead of the implementation of Basel III reforms into the EU legislative framework. Read more |
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FROM THE EUROPEAN BANKING FEDERATION
ESAs Joint Consultation paper on Taxonomy-related sustainability disclosures (SFDR RTS): EBF response
The European Banking Federation has responded to the ESAs Joint Consultation paper on Taxonomy-related sustainability disclosures (SFDR RTS). Click here to read the EBF full position.
DG FISMAās Crisis management and Deposit Insurance (CMDI) framework consultation: EBF feedback
A good moment to take stock of the EU Crisis Management and Deposit Insurance (CMDI) framework. DG FISMAās CMDI review consultation raises important questions. EBF shares thoughts on possible clarifications, improvements, and the next steps. Click āhereā to read our detailed feedback to DG FISMA or āhereā for a short summary of our main points.
Evaluation of the Consumer Credit Directive: EBF position
The Directive on Consumer Credit (CCD) provides a solid framework for fair access to credit for European consumers. EBF looks with concern to unregulated creditors and the consequences that they can bring to the stability and well-functioning of the market. All creditors should be supervised and required to respond to the same rules on consumer protection, Know Your Customer (KYC), Anti-money laundering (AML), and reporting requirements. 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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