EBF MORNING BRIEF Monday 20 December 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: ECB will hike rates further, we do not know when will stop The European Central Bank (ECB) will hike interest rates further to combat high inflation, ECB's Vice-President Luis de Guindos said. De Guindos added that the institution is committed to bringing inflation down to its 2% mid-term goal, Reuters writes. Read more
Finextra: Bank-backed consortium wins funding to test payments for EU digital identity wallet
A multi-country consortium consisting of banks and technology companies has been chosen to deliver a cross-border payments pilot for the European Commissionās EU digital identity wallet programmer. According to Finextra, participants include DSGV in Germany, DNB, and BankID in Norway, Nets in Denmark, Intesa Sanpaolo, PagoPA, and ABILab in Italy, and GreiĆ°sluveitan in Iceland. Read more
Bloomberg: Basel body backs standards for banksā crypto exposure
As reported by Bloomberg, the body overseeing the Basel Committee on Banking Supervision endorsed global prudential standards for banksā exposure to crypto assets. This is an important step toward āmitigating risks to banksā from digital tokens, Tiff Macklem, chair of the oversight body and governor of the Bank of Canada, said. Read more |
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MAIN EVENTS Environment Council meeting For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS Febelfin: New educational materials to boost financial literacy A study by research agency Indiville in collaboration with Febelfin shows that young people are asking for more financial information. To meet this demand, Febelfin recently started a new TikTok channel full of 'FinTok', a new type of free educational material about cryptos for teachers and young people. Read more (NL)
Finance Finland: Donation for the victims of the war in Ukraine
European banks under the lead of the European Banking Federation (EBF) are raising money to help Ukrainian people suffering from the war of aggression launched by Russia. Finance Finland has made a donation to the Schools for Peace Association, whose aid will be used to provide emergency financial assistance to Ukrainian refugees and purchase medical supplies for hospitals located in Ukraine. Read more
UK Finance: Industry commitment to protect access to cash
UK Finance has played a leading role in the launch of Cash Access UK Ltd, a non-profit company that will help to protect cash access in UK communities. It is made up of nine of the UKās largest high-street banking providers. Read more |
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FROM THE INSTITUTIONS ECB: Bank bond holdings and bail-in regulatory changes Analyzing confidential data on securities holdings by banks, this working paper published by the European Central bank (ECB) documents that the introduction of the minimum requirements for eligible liabilities (MREL) induced banks to increase their holdings of eligible bank bonds, especially if issued by other banks. Read more
EBA: Updated list of CET1 instruments
The European Banking Authority (EBA) published an updated list of capital instruments that Competent Authorities across the EU and for the first time the European Economic Area (EEA) have classified as Common Equity Tier 1 (CET1). Read more
ESMA: Positive opinion on amended RTS 1 and 2
The European Securities and Markets Authority (ESMA) has issued a positive Opinion on the European Commissionās review of the regulatory technical standards ā RTS 1 equity and RTS 2 non-equity transparency ā on pre-trade and post-trade transparency requirements under the Markets in Financial Instruments Regulation (MiFIR). 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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This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v.barbieri@ebf.eu
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