EBF MORNING BRIEF Tuesday 18 October 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 Reuters: Banks' solvency key to ECB opinion on proposed Spanish tax The European Central Bank (ECB) could issue a non-binding opinion on the proposed tax on Spanish banks in the coming days or weeks after assessing its impact on the sector's solvency, ECB Vice-President Luis de Guindos said. As reported by Reuters, even if he gave no indication of which way the opinion would lean, he has said that a banking levy could have negative effects in the sector and risks damaging its solvency. Read more
International Banker: Banks show slow progress on gender diversity
In banking, there has been a particular focus on the diversity of personnel, with initiatives to remove or at least reduce the barriers to entry and promotion. However, a lot remain to be done. According to International Banker, the combination of statutory and regulatory pressures, reputational considerations and delivering a profit to stakeholders could prove to be a powerful cocktail towards achieving greater diversity. Read more
BusinessGreen: BoE attaches climate conditions to energy financing
Energy companies looking to secure funding from the Bank of England (BoE)'s latest support package must produce climate-related risk disclosures and Net-Zero decarbonisation plans, BusinessGreen reports. The announcement comes as Chancellor Jeremy Hunt announced plans to reverse the tax-cutting measures set out by last month's mini-Budget. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
ABI: Cyber security: New information campaign
The Italian Banking Association (ABI) launched a new information campaign to encourage the safe and informed use of digital channels and tools and raise customers' awareness of the risks of online attacks and fraud in the use of financial services. Read more (IT)
BdB: Capital markets union 2022
To ensure its global competitiveness, financial stability and its economic sovereignty, the EU needs a deep and less fragmented capital market. In the latest position paper by the Association of German Banks (BdB), private banks point to the urgency of continuing to pursue the capital markets union and call on politicians to initiate central measures along sensible guidelines in the coming months. Read more (DE)
AEB: Operate safely on the internet
Cooperation and especially public-private collaboration is key to combating cybercrime in all its aspects. With this conviction, the Spanish Banking Association (AEB) signed the general protocol of the Action Plan against Financial Fraud to promote and improve the prevention and fight against offers of potentially fraudulent products and services. Read more (ES) |
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FROM THE INSTITUTIONS EBA: Risk based approach to the supervision of ICT risk management The European Banking Authority (EBA) published the conclusion of its peer review of how competent authorities supervise institutions’ Information and Communication Technology (ICT) risk management and have implemented the EBA Guidelines on ICT risk assessment under the supervisory review and evaluation process (SREP). Overall, the analysis suggests that the competent authorities across the EU have applied a risk-based approach to the supervision of ICT risk management. Read more BIS: Monetary policy and financial stability in difficult times The Bank for International Settlements (BIS) published a speech by Andrew Bailey, Governor of the Bank of England where he explains the distinction between monetary policy and financial stability interventions. Monetary policy should be seen as the active setting of interest rates to meet the inflation objective given prevailing economic conditions. Financial policy, meanwhile, it is aimed at preventing overall financial stability from being threatened by severe dislocations in some financial markets. Read more EIB: Bulgaria: EIB and UniCredit to provide loan to SMEs UniCredit will provide loans with more favorable conditions to small and medium enterprises (SMEs), facilitating access to finance. The jointly operation between European Investment Bank (EIB), European Investment Fund (EIF) and UniCredit is new to Bulgaria and is expected to achieve strong signaling effect for the country's banking market. Read more |
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FROM THE EBF
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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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