| EBF MORNING BRIEF Tuesday 22 March 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: Britain aligns with EU on delaying Basel bank capital rules Reuters reports that the Bank of England plans to delay implementing a final set of post-financial crisis capital requirements for banks until January 2025, bringing Britain in line with the EU. "This will aid the planning of a complex, multi-faceted implementation project and will ensure firms’ capital planning and stress testing is aligned with the prudential regulator’s expectations," said UK Finance's director for prudential policy. Read more
Finextra: Big Tech and fintech extend grip on financial services
The Financial Stability Board (FSB) acknowledges that Big Tech and fintech firms’ expansion into financial services can bring improved cost efficiencies and wider financial inclusion. But, it also cautions over the potential for market dominance. FSB says that the growth of Big Techs underscores the need to address data gaps that currently hamper the assessment of those firms’ financial risks and systemic importance, according to Finextra. Read more
ING Think: ECB findings show banks should take more action on climate risk disclosures
European banks still have big steps to take before they live up to the European Central Bank (ECB)’s supervisory expectations on climate-related and environmental risks disclosures. Bridging the gap will help banks readying for the comprehensive regulatory disclosure tasks at hand; this is the opinion of ING Think. Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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COMING TODAY EUROPEAN MONEY WEEK 2022: |
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"Financial skills in a time of crisis" launch event |
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 | In the past years, Covid-19 has highlighted the gaps in financial knowledge and resilience, especially among the most vulnerable parts of society. More recently, the war in Ukraine has sent shockwaves across Europe and, among other concerns, has again brought into focus the importance of financial skills during a time of crisis. Today, join our live stream at 3 pm on EBF’s LinkedIn and Twitter to explore what role financial skills play in people's lives and how boosting them can help address challenges different groups face in our society, from identifying cyber scams to supporting refugees settling in a new country.
FOLLOW THE LIVESTREAM ON EBF TWITTER AND LINKEDIN!
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FROM THE EBF MEMBERS Finance Latvia: Survey on fintech start-ups Despite the constraints and uncertainties in the business environment caused by the Covid-19 pandemic, the number of active fintech companies registered in Latvia increased from 91 to 118 last year and has almost doubled in the last four years, reports Finance Latvia. Infrastructure and opportunities for innovation are cited as the main reason for setting up companies in Latvia, as indicated by 43% of survey respondents. Read more (LT) FBF: Study on financial and budgetary education for children During the Financial Education Week, the French Banking Federation (FBF) has published the results of its barometer conducted with Harris Interactive on the financial and budgetary education of children aged 8 to 14, showing in particular the evolution of children's behavior, who are increasingly turning to digital purchases. Read more (FR)
HUB: Celebrating Global and European Money Week
In order to continuously and systematically promote financial literacy, the Republic of Croatia, the Croatian Banking Association (HUB), and other institutions are celebrating the Global and European Money Week taking place from 21 to 27 March 2022. As part of the celebration of the European Money Week, HUB is organizing the national European Money Quiz competition for the third year in a row, as well as a panel discussion on the importance of financial literacy in the context of the current economic situation. Read more (HR) |
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FROM THE INSTITUTIONS ECB: Monitoring inflation developments We are monitoring inflation developments very closely, says European Central Bank (ECB) Vice-President Luis de Guindos in an interview with Handelsblatt. If we see second-round effects and a potential de-anchoring of medium-term inflation expectations, then we will act, he added. All options are on the table. Read more EBA publishes final draft technical standards on default probabilities and loss given default for default risk model under the internal approach for market risk The European Banking Authority (EBA) published its final draft Regulatory Technical Standards (RTS) on probabilities of default (PDs) and losses given default (LGDs) for default risk model for institutions using the new Internal Model Approach (IMA) under the Fundamental Review of the Trading Book (FRTB). These final draft RTS specify the requirements for estimating PDs and LGDs using an institution's internal methodology or external sources. These draft RTS are part of the deliverables included in the roadmap for the new market and counterparty credit risk approaches. Read more EIOPA: Recommendations from 2021 Insurance Stress Test The European Insurance and Occupational Pensions Authority (EIOPA) issued its recommendations to supervisors and insurers based on the learnings and experience of EIOPA’s 2021 Insurance Stress Test. Having analysed the results of the stress test, EIOPA has now defined a series of actions that, once implemented, will result in a more resilient insurance sector in Europe. Read more |
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FROM THE EBF
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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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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