EBF MORNING BRIEF Tuesday 7 December 2021 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
POLITICO: Race for the face of euro banknotes is on
The European Central Bank (ECB) plans to redesign banknotes. The redesign process will start with gathering opinions across the eurozone on possible themes for future banknotes, POLITICO reports. An advisory group representing different nationalities and areas of expertise will then create a shortlist of themes. Following the proposals from the advisory group and design competition, the ECB will call on the public for its input. Read more
FT: The Bank of England should beware the lure of digital currency
The Bank of England is still mulling over the introduction of a central bank digital currency (CBDC), a digital version of notes and coins, directly convertible into cash and deposits. The bank argues this will increase financial inclusion, the Financial Times (FT) says. Read more Reuters: UniCredit's Orcel pledges profitable chapter for Italian bank Andrea Orcel must convince UniCredit investors that he can deliver on a promise to grow the Italian bank profitably when he presents its new strategy on December 9. According to Reuters, markets expect extraordinary share buyback while he is expected to bet on digital integration with product suppliers. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS
Finance Denmark: It should be even easier to change bank
Banks want to make it even easier to change banks in Denmark. The idea is called eBankskifte, and it will enable the Danish banks to see a customer's full commitment to another bank if the customer so wishes. Hence, an overview can be created easily and electronically to give the bank adviser the opportunity to give the customer a relevant offer. This will strengthen competition between banks, Finance Denmark says. Read more (DK)
FBF: Latest figures on loans to individuals
At the end of October 2021, loans to individuals reached 1.425 billion euros, up 5.7% over one year. The growth rate of consumer loans, which takes into account “split loans” granted by credit institutions, stands at + 2.1%. This emerges from the data published by the French Banking Federation (FBF). Read more (FR)
CBA: Attackers are pulling hundreds of thousands of bank clients with the help of bitcoin ATMs
Fraudsters take advantage of clients' inattention in the run-up to Christmas and, under the pretext that their money is in jeopardy, force them to withdraw savings and deposit into fraudulent accounts through cryptocurrency ATMs. The Czech Banking Association (CBA) strongly reminds that, if banks suspect a threat to client deposits, they can block and protect the client's account and funds deposited in it themselves. They never ask the client to transfer them to any other "secure" account. Read more (CZ) |
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FROM THE INSTITUTIONS
EBA: Risk assessment shows improvements in EU banks solvency, profitability, and liquidity, while asset price corrections remain key
The European Banking Authority (EBA) published its annual risk assessment of the EU banking system. Fears about potential asset quality deterioration have not materialized, except for the sectors most affected by the pandemic. Looking ahead, banks, as well as micro and macro-prudential authorities, need to be prepared for deterioration in the economic outlook or in case inflationary pressure translates into rising rates. Read more
ECB to redesign euro banknotes by 2024
The European Central Bank (ECB) plans to redesign euro banknotes, working with European citizens in a process that is expected to lead to a final decision in 2024. The redesign process will start with the creation of focus groups, tasked with gathering opinions from people across the euro area on possible themes for the future euro banknotes. Read more
EIOPA: Monthly technical information for Solvency II Relevant Risk Free Interest Rate Term Structures and parallel technical information
The European Insurance and Occupational Pensions Authority (EIOPA) published technical information on the relevant risk-free interest rate term structures (RFR) with reference to the end of November 2021. In addition to the current official monthly technical information, EIOPA also published the second parallel technical information on the relevant risk-free interest rate term structures (RFR) based on the published approach for the implementation of Interbank Offered Rates (IBOR) transitions. 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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