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
Bloomberg: ESG risks top the list of near-term concerns
Risks related to climate change and social issues will intensify the most in the next two years, finance executives predicted in a survey, and firms will have to find ways to cope, writes Bloomberg. Read more
Reuters: Record issuance, record demand for government bond sales
Euro zone governments raised a record 48.8 billion euros of funding in January via syndicated bond sales, backed by record order books from investors jostling for scarce sovereign debt from the bloc, Reuters reports. Read more
S&P Global: Greek banks in 'complex but manageable' situation
Greek banks, facing a potential "cliff-edge" effect once pandemic-related loan moratoriums come to an end, face a challenging 2021, according to analysts. Their predicament remains manageable since government subsidies will kick in where repayment holidays end to help otherwise creditworthy borrowers remain performing, S&P Global reports. Read more
*All events take place virtually unless stated otherwise
FROM THE EBF MEMBERS
Febelfin: CEO Karel Baert opinion on the consequences of the pandemic
Karel Baert, Febelfin CEO, wrote an opinion on the consequences of the pandemic on the Belgian economy and SMEs titled "Tailor-made solutions are absolutely necessary, each company is different." Karel Baert also encouraged business owners who benefit from support measures to contact their banker as soon as possible, before the expiration of the measures in a few months. Read more (FR)
CBA: CBA Index and the development of the mortgage market
The Czech Banking Association (CBA) analyses that rates fell in December, according to statistics from the Czech National Bank, but it can be seen that the decline is already minimal. This signals that even the competitive struggle has its limits and there is no room for further reductions. Read more (CE)
LBA: Uniform taxonomy to achieve comprehensive sustainability
The Liechtenstein Bankers Association (LBA) highlights the results of recent studies from the European Banking Association and the Financial Centres for Sustainability. Both studies show that an internationally uniform taxonomy is crucial for achieving comprehensive sustainability. Read more (DE)
FROM THE INSTITUTIONS
ECB: For the benefit of euro area citizens
ECB responded very quickly to the deepest economic collapse in post-war times by ensuring favourable financing conditions, Executive Board member Isabel Schnabel told Deutschlandfunk. This was for the benefit of euro area citizens. Read more
EBA launched 2021 EU-wide stress test exercise
EBA launched the 2021 EU-wide stress test and released the macroeconomic scenarios. Following the postponement of the 2020 exercise, due to the COVID-19 pandemic, this year’s EU-wide stress test will provide valuable input for assessing the resilience of the European banking sector. Accordingly, the adverse scenario is based on a narrative of a prolonged COVID-19 scenario in a ‘lower for longer’ interest rate environment, in which negative confidence shocks would prolong the economic contraction. Read more
ESMA: Report on proposed fees for Benchmarks Administrators
ESMA released a final report on its advice regarding supervisory fees for benchmarks administrators under the Benchmarks Regulation. Fees from administrators of critical benchmarks & those of third-country benchmarks are subject to EU recognition regime. Read more
European Commission weekly schedule
Find out more about the European Commission's engagement and activities for the upcoming week. Read more
European Central Bank weekly schedule
Find out more about the ECB's engagements and activities for the upcoming week. Read more
European Parliament weekly schedule
Find out more about the Parliament's engagements and activities for the upcoming week. Read more
FROM THE EUROPEAN BANKING FEDERATION
Commission’s consultation on the Data Governance Act: EBF Response
EBF-UNEP FI report outlines path for application of EU Taxonomy
EBF, together with the United Nations Environment Programme Finance Initiative (UNEP FI), this week launched a report that for the first time assesses how the EU Taxonomy can be applied to core banking products. The report is based on case studies analysing transactions and existing client relationships across a large spectrum of sectors, economic activities and geographical locations. The launch include two live webinars. Recordings as well as the report are available here.ReutersEuractiv
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations. The EBF 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.
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