| EBF MORNING BRIEF Wednesday 10 November 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
Bloomberg: ECB Enria says pandemic marked a turning point for banks
Banks cannot just wait for higher interest rates, European Central Bank (ECB)’s Supervisory Board Chair Andrea Enria said in an interview with Bloomberg. The low-interest-rate environment was positive for banks until mid-2020, yet negative effects have since prevailed and they are “likely to stay for a while”, he added. There’s “froth in some segments on financial markets” and banks need to focus on risk controls in case they are hit by a sudden change in interest rates or credit spreads. Read more
CoinDesk: ECB’s Panetta says CBDCs ‘likely’ to be legal tender
Central bank digital currencies (CBDCs) will probably become legal tender in the jurisdictions of their issuance, European Central Bank’s (ECB) Fabio Panetta said. However, this status “should not be taken for granted”. According to CoinDesk, CBDCs being legal tender would give them an edge over other payment options provided by private companies and help achieve wider use by the public. Read more
FT: UK green funds attract record retail inflows
UK retail investors have poured money into responsible funds at an accelerating pace this year, even as the country’s financial watchdog warns that inconsistent standards could leave buyers unsure about what lies behind ethical investment labels. Asset managers drew £4.3bn in retail money into their responsible funds in the three months to the end of September, the Financial Times reports. Read more |
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REGISTRATION OPEN! EBF Digital Thursdays |
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 | The third Digital Thursdays 2021 will focus on Central Bank Digital Currencies (CBDCs) and payments. On Thursday 18 November, experts will explore how CBDCs would change the role of central banks and the banking system overall, while providing insights on different CBDC projects that are under way. Join us for the panel on "CBDCs – A sprint or a marathon?" and hear the exclusive insights of key private and public actors. Discover more |
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MAIN EVENTS
Wednesday 10 November
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Council Horizontal Working Party on Cyber Issues -
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EBF Audit, Budget and Risk Committee hybrid Meeting -
EBF Secondary Markets Meeting
Thursday 11 November
Friday 12 November For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS
BdB: HCOB switches to the deposit protection fund
The Hamburg Commercial Bank (HCOB) will become a full member of the banking association on January 1, 2022, and will switch to the voluntary deposit protection fund of the private banks. The board of directors of the Association of German Banks (BdB) decided on this at a meeting in Brussels. Read more (DE)
AEB: "Banks in our lives" spot
The Spanish Banking Association (AEB) has published a spot dedicated to the role of banks in daily lives. Banks are indeed present in many moments of our lives and "as long as you still have dreams and projects to fulfill, there will always be a bank to help you achieve them", AEB writes. Watch here (ES)
Finance Finland: Financial sector calls for easing of banking proposal
Finance Finland is disappointed with the European Commission's proposal on how the final Basel III banking regulatory standards will be implemented in the EU. According to the mandate given by the Basel Committee, the reform should not significantly increase banks' capital requirements. According to the Financial Supervision Authority's estimate, the increase in capital requirements in Finland would average 15–20 percent. Read more (FI) |
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FROM THE INSTITUTIONS ECB: Christine Lagarde at the ECB Forum on Banking Supervision Christine Lagarde, President of the European Central Bank (ECB) opened the ECB Forum on Banking Supervision discussing the contribution of European supervision to the crisis response. Besides, she stressed the importance of making the banking sector resilient for the future. Read more
EBA: Guidelines on recovery plan indicators
The European Banking Authority (EBA) published Guidelines on recovery plan indicators. The Guidelines establish a common EU approach for developing the framework of recovery plan indicators, providing additional guidance on indicators’ calibration, monitoring, and breaches notifications. The guidelines aim at strengthening the quality of the recovery indicators framework and contributing to effective crisis preparedness of institutions. Read more
EIOPA: Non-compliance of the NBS with EIOPA’s recommendation
On 30 July 2021, the European Insurance and Occupational Pensions Authority (EIOPA) issued a Recommendation to the National Bank of Slovakia (NBS) to take supervisory actions against an undertaking that pursues cross-border business in several countries. The NBS did not take the recommended actions, therefore EIOPA considers it as non-compliant. 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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