| EBF MORNING BRIEF Wednesday 13 October 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 may need PEPP flexibility for future stimulus, Villeroy says
The European Central Bank should consider keeping some of the flexibility of its pandemic bond-buying program for future asset purchases, according to Governing Council member Francois Villeroy de Galhau. As reported by Bloomberg, Villeroy also said he’d support a “more rule-based approach” considering changes in excess liquidity net of both necessary and borrowed reserves when setting a tiering multiplier. Read more EURACTIV: EU countries reject strict deadline for DSA, DMA An initial draft of the summit conclusions that circulated two weeks ago committed to finding an agreement for the Digital Services Act (DSA) and Digital Markets Act (DMA) by spring 2022. In the new version of the Council conclusions, seen by EURACTIV, the exact timing has given way to “as soon as possible”, whereas the agreement to be reached has acquired the definition of “ambitious”. Read more
S&P Global: Lloyds, L&G, Goldman seek inflation-proof returns in UK build-to-rent
The U.K.'s nascent build-to-rent housing market is drawing institutional investors seeking stable returns and a hedge against inflation. The Goldman Sachs Group Inc., Macquarie Group Ltd. and Legal & General Group PLC have also moved into build-to-rent as the U.K.'s surging home prices and limited housing stock spur rental demand, S&P Global reports. Financial investors could ultimately own a third of the nation's rental stock, according to estate agent Savills, as depressed interest rates bolster the appeal of assets able to generate rising income over a large number of years. Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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REGISTRATION IS NOW OPEN! EBF DIGITAL THURSDAYS 2021
28 October, 4 November, 18 November / ONLINE
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 | The EBF Digital Thursdays 2021 will bring together industry experts, policymakers, and supervisors to explore the key developments in digital finance, driven by regulatory initiatives and industry priorities. Topics will include digital operational resilience, cybersecurity, access to data and infrastructure, open finance and Central Bank Digital Currencies. |
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FROM THE EBF MEMBERS
Finance Denmark: Financial regulation always has a price
The Economic Councils have today published a sage report for the autumn of 2021. Finance Denmark agrees that financial regulation is fundamentally of a structural nature, which leads to lower economic activity in society. Future interventions in homeowners' borrowing opportunities should also be seen in the context of their overall finances, including their significant pension savings. Read more (DK)
Finance Norway: A state budget for green change and job creation
In the government's proposal for the state budget for 2022, emphasis is placed on the need for green change and future value creation in the Norwegian economy. "It is gratifying to see that the government with this budget facilitates the necessary restructuring in a more sustainable direction", says Idar Kreutzer, CEO of Finance Norway. Read more (NO)
NVB: Medy van der Laan first months as President
The first months of Medy van der Laan as President of the Dutch Banking Association (NVB) have been dominated by working visits. She visited entrepreneurs, consumers and governments, among others, to learn more about the priorities and needs of these people. Recently, she visited also the Confederation of Netherlands Industry and Employers VNO-NCW). Watch the video (NL) |
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FROM THE INSTITUTIONS
ESMA: Final Report for STS synthetic securitisations notifications
The European Securities and Markets Authority (ESMA) has submitted its Final Report on technical standards specifying content and format of the STS notification for on-balance sheet securitisations (synthetic securitisations) to the European Commission. Read more
ECB: The contribution of finance to combating climate change
Christine Lagarde, President of the European Central Bank (ECB) discusses how the financial sector can help protect against climate change by disseminating information, accelerating innovation and bolstering adaptation. "Combating climate change requires action from all parts of society", she said. Read more BIS: Isabel Schnabel: New narratives on monetary policy: the spectre of inflation Isabel Schnabel, Member of the Executive Board of the European Central Bank (ECB) provides an assessment of recent developments in consumer prices while explaining why inflation in the euro area is likely to ease noticeably next year. "There are good reasons to assume that the current constellation of fiscal and monetary policy in the euro area may finally chart the path out of the low interest rate environment", she said in the speech published by the Bank for International Settlements (BIS). 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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