| EBF MORNING BRIEF Wednesday 27 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
FT: Lagarde set to push back on market bets of the eurozone rate rise
The Financial Times (FT) reports that the European Central Bank (ECB) is not expected to respond to inflationary pressures by increasing interest rates when they meet on Thursday. President Lagarde already hinted last month that the ECB was still "too far away" from a hike. Investors, however, are betting the ECB could begin raising its deposit rate as soon as late 2022. Read more
Reuters: ECB's De Cos says climate change could pose risks to banks exposed
The effects of climate change could lead to a major source of risks for banks exposed to them if environmental risks were not properly mitigated, according to European Central Bank (ECB) governing council member Pablo Hernandez de Cos. "If climate change is not mitigated, the effect would be concentrated in certain geographical areas, mainly due to physical risks in the long run, leading to a major source of risk particularly for banks exposed to them," he said at a financial event where Reuters was present. Read more
Bloomberg: Swiss National Bank warns of risks with green economy push
Actively pushing for a green transformation of the economy could undermine the effectiveness of the Swiss National Bank’s (SNB) monetary policy, Governing Board Member Andrea Maechler said. While the SNB takes climate change very seriously and is buying green bonds as part of its reserve management, it is treading more cautiously than its euro-area counterpart, Bloomberg reports. Read more |
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MAIN EVENTS -
European Banking Authority (EBA) Board of Supervisors meeting -
European Parliament Subcommittee on Tax Matters -
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EBF Business Lending Working Group online meeting
For a full-year overview of key financial regulation events: click here
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COMING TOMORROW! EBF DIGITAL THURSDAYS 2021 |
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 | The debate at the Digital Thursdays on 28 October will showcase the legislative progress on digital operational resilience. As the EU legislator proposes a harmonized approach under the Digital Operational Resilience Act (DORA), regulators and industry experts will discuss this advancing initiative and its effect on digital innovation. Taking place within the European Cybersecurity Month, this Digital Thursday showcases also the importance of cyber threat information sharing and other private sector initiatives, including raising awareness on cyber risks. |
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FROM THE EBF MEMBERS
Febelfin: How not to become a victim of friendship fraud
In 2020, the number of reports of 'friendship frauds' almost doubled, Febelfin reports. In this form of online scam, the scammers try to contact a potential victim to become his friend and get money out of the person who has fallen into the trap. But how can you recognize this scam and how can you avoid being taken in? Read more (FR)
Finance Denmark: Bank advisers must help companies in the sustainable transition
Funding has always been a driving factor in the development of our society. This is also true today when sustainable change is the most important issue on the global agenda, Finance Denmark writes. Banks play an active role in helping companies in the sustainable transition; for instance, when switching from black to green. Read more (DK)
UK Finance: 2021 Total Tax Contribution of the UK banking sector
The 2021 Total Tax Contribution Study for the UK banking sector, commissioned by UK Finance and based on analysis by PwC, found that the UK banking sector paid £37.1 billion in taxes in the financial year to March 2021. The 2021 report also provides information on banking sector employment across the UK, as well as an analysis of the UK’s tax competitiveness for banking relative to other leading global financial centers. Read more |
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FROM THE INSTITUTIONS
ECB: Euro area bank lending survey
The euro area bank lending survey (BLS) by the European Central Bank (ECB) provides information on bank lending conditions in the euro area. According to the October 2021 results, credit standards for loans or credit lines to enterprises remained broadly unchanged in Q3 2021. Regarding loans to households for house purchase, euro area banks reported a net tightening of credit standards, while credit standards for consumer credit and other lendings to households also remained broadly unchanged. Read more
SRB: Guidance on the separability of banks in time of crisis
The Single Resolution Board (SRB) has published the operational guidance on separability for partial transfer tools. This operational guidance helps banks by providing more detail on how to deliver the relevant information and analysis, namely through an analytical document known as the separability analysis report, as well as an operational document, called the transfer playbook. Read more
BCBS: Margining Practises
The Basel Committee on Banking Supervision (BCBS), the Committee on Payments and Market Infrastructures (CPMI), and the International Organization of Securities Commissions (IOSCO) have invited comments on their consultative Review of margining practices. The report looks at margin calls in March and April 2020, margin practice transparency, predictability, and volatility across various jurisdictions and markets, as well as market participants’ liquidity management preparedness. Deadline is 12 January 2022. 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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