EBF MORNING BRIEF Tuesday 24 January 2023 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: EU lawmakers to vote on tighter crypto, ESG rules for banks The European Parliament is due to vote on cross-party compromises on a draft law that implements the remaining elements of Basel III. According to a draft seen by Reuters, banks would have to set aside a punitive amount of capital to cover holdings of crypto assets while amendments will require remuneration policies at banks to be aligned with their transition plans to address ESG risks over the short, medium, and long term. Read more
FT: Europe seeks to revive moribund securitization market
EU politicians will vote on a banking regulation change that reduces by half the increase in the capital on securitizations that would have occurred under new capital rules, the Financial Times (FT) reports. Hopes for change were boosted by a report from EU financial watchdogs acknowledging shortcomings in the securitization framework. Read more
CoinDesk: Digital Euro will never be programmable, ECB’s Panetta says
The Digital Euro will never be programmable, according to Fabio Panetta, Executive Board member at the European Central Bank (ECB). As reported by CoinDesk, he indicated that the Digital Euro won’t allow restrictions to be placed on how funds can be spent and may not run on decentralized technology that underpins crypto assets. Read more |
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MAIN EVENTS QED Conference on Euro Instant Payments (Anni Mykkänen, EBF Senior Policy Adviser on Payments and Innovation speaking) For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS BPFI: Jim O’Keeffe appointed BPFI President Jim O’Keeffe, AIB Managing Director of Retail Banking, has been appointed President of the Banking & Payments Federation Ireland (BPFI). “I look forward to my term ahead as we continue to build trust, engagement, and innovation across the sector in the interests of all our customers and communities,’’ he said. Read more
Febelfin: Victim of online fraud? Banks are always reachable
As part of their fight against online fraud, banks offer a dedicated service that customers can call 24 hours a day, 7 days a week to block their banking applications if they become victims of cybercriminals. Febelfin gives extra information on how to get in contact with your bank in case of fraud. Read more (FR)
BdB: Christian Ossig is leaving the BdB
Christian Ossig is leaving the Association of German Banks (BdB) for personal reasons and at his own request. On January 31, 2023, he will resign from his position as chief executive officer of the association and resign from the board. Read more (DE) |
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FROM THE INSTITUTIONS ECB: Digital euro: our money, wherever and whenever "Our priority for the digital euro project has always been clear: to preserve the role of public money in retail payments by making it available anywhere in digital form, alongside cash,'' says European Central Bank (ECB) Executive Board member Fabio Panetta before the European Parliament. Read more
ESMA: Preliminary effects of market correction mechanism on EU natural gas derivative market
The European Securities and Markets Authority (ESMA) has published its preliminary data report following the introduction of the market correction mechanism (MCM) in the EU Regulation. The report describes the structure and main participants in the EU natural gas derivative market. Read more
EC: International Day of Education
Ahead of the International Day of Education on 24 January, the European Commission (EC) and High Representative/Vice-President Josep Borrell made a joint statement. ''There is an urgent need to ensure financing for education,'' they write. Read more |
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FROM THE EBF
EBF: ESAs Call for evidence on better understanding greenwashing
Sustainability has been attracting considerable and growing attention over the last few years. The resulting increased risk of wrongful greenwashing claims and potential reputational implications may finally deter financial institutions from increasing transition and sustainability financing. In this context, EBF supports the objective of a focused approach to greenwashing covering all sectors of the economy. Read more
EBF: Joint Business Statement on the due diligence proposal (CS3D)
The European business community supports an EU due diligence framework. However, it calls for realism, proportionality, and workability for this framework to truly enable and guide businesses in taking necessary steps towards more sustainable supply chains. This includes companies under the scope but also SMEs that will be impacted. Read more
New 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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This newsletter is published by the EBF Mediacentre.
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