EBF MORNING BRIEF Tuesday 28 March 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 Bloomberg: ECB determined on inflation fight with markets in view The European Central Bank (ECB) is determined to continue fighting inflation while also standing ready to respond to any potential stress in markets, according to Bundesbank President Joachim Nagel. As reported by Bloomberg, he also added that banks are resilient with strong capital and liquidity positions. Read more
Reuters: Banking stress puts US and Europe on watch for credit crunch
Stress in the banking sector is being closely monitored for its potential to trigger a credit crunch, a US Federal Reserve policymaker said. Meanwhile, the European Central Bank (ECB) believes that recent banking sector turmoil may result in lower growth and inflation rates, Reuters reports. "Our impression is that they will lead to an additional tightening of credit standards," Luis de Guindos said. Read more
CoinDesk: EU to vote on limited ban on self-hosted crypto payments
Large crypto-asset transfers from anonymous self-hosted wallets would be banned under plans set to be voted on by EU lawmakers, according to documents seen by CoinDesk. The legislation also bans businesses from accepting more than 7,000 euros in cash and creates a new EU anti-money laundering agency, the AMLA. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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ONLY TWO DAYS LEFT! Sustainable Finance Research Forum's 'Sustainable Finance in the Global South' event Thursday 30 March, 2023 Do not miss the Sustainable Finance Research Forum's event on how to scale up Sustainable Finance in the Global South! This Thursday, the Forum will gather a line-up of high-level speakers to explore the approaches and experiences of different countries with Sustainable Finance and how science can help. |
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FROM EBF MEMBERS Finance Norway: 30 billion in weather and natural damage in ten years Compensation for damage to buildings and contents following weather and natural damage has exceeded NOK 30.3 billion, according to figures from Finance Norway and the Norwegian Nature Damage Pool. In addition, there is compensation for damage to cars and boats, among other things. Read more (NO)
BPFI: Payments Monitor Q4 2022
Almost €17.9 billion in contactless payments were made in 2022, the highest level since 2016 and a jump of 31.4% from 2021, the latest Payments Monitor Q4 2022 from Banking & Payments Federation Ireland (BPFI) found. It was EU Commissioner Mairéad McGuinness to open BPFI’s inaugural National Payments Conference looking at the major forces bringing change to the Irish payments landscape. Read more
HBA: Sixth Hellenic Competition on Money EMQ 2023
The Hellenic Bank Association (HBA) participated for the ninth consecutive year in the European Money Week organized by the European Banking Federation. The national finals of the European Money Quiz took place online and involved 173 classes from 34 Gymnasiums and 34 High Schools in Greece. Read more |
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FROM THE INSTITUTIONS
ECB: Ensuring a timely return to 2% inflation
'A decline in core inflation is key if we want to see a steady and clear convergence towards our 2% target,' European Central Bank (ECB) Vice-President Luis de Guindos tells the Irish Business Post. Financial stability is essential and the ECB is closely monitoring it. Read more
ESMA: Guidance on product governance
The European Securities and Markets Authority (ESMA) published its Final Report on Guidelines on MiFID II product governance guidelines. By pursuing the objective of ensuring a consistent and harmonized application of the product governance requirements, guidelines will make sure that the objectives of MiFID II can be efficiently achieved. Read more
BIS: Facilitating increased adoption of payment versus payment (PvP)
The Bank for International Settlements (BIS) has published its final report on facilitating increased adoption of payment versus payment (PvP) to reduce foreign exchange (FX) settlement risk and improve cross-border payments. The publication analyses the causes of non-PvP settlement, takes stock of existing and proposed new PvP solutions, and suggests roles for the private and public sectors to facilitate increased adoption of PvP. Read more |
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FROM THE EBF
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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