| EBF MORNING BRIEF Wednesday 3 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
Reuters: Eurozone banks starting to accept that low rates will stay
Eurozone banks are finally accepting that interest rates will stay low for a long time and have started transforming their businesses to cope with the new reality, European Central Bank (ECB) supervisor Andrea Enria said. As reported by Reuters, mergers activity is at its highest rate since 2008 while lenders are also closing branches, reducing headcount and embracing digitalization in new ways.“All banks basically expect a continued decrease in gross NPLs (non-performing loans) until at least the end of 2022 and we are of course concerned that the expectation may be a bit optimistic,” Enria says. Read more
EURACTIV: Discussing EU fiscal rules is a ‘terrible mistake’, says historian Adam Tooze
In an interview with EURACTIV, a prominent economic historian and chronicler of economic crises argued for a different relationship between politics and finance and a new understanding of inflation. According to Adam Tooze, the European Union should focus on growth and not get bogged down in an argument about fiscal rules. Read more
Finextra: Sustainable finance: how can banks and Fintechs make greener customer decisions?
By moving to more modular, scalable, and reusable platform-based cloud solutions, financial institutions can make massive improvements to operational efficiency that, in turn, reduce environmental impact. This is what Mark Collingwood, VP & Managing Director, Decision Management Suite at FICO writes on Finextra. Read more |
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COMING THIS WEEK! EBF DIGITAL THURSDAYS 2021 |
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 | We are happy to announce that Olivier Guersent, Director-General, European Commission (DG Competition) will join us to deliver a keynote speech at the second Digital Thursday 2021. The event will focus on the evolving competition landscape in digital financial services and the challenges this poses to the ongoing digital transformation of banking and banks. The event will also discuss the importance of ensuring fair competition among participants in the digital market and offer exchanges of views on some of the key policy debates such as the Digital Markets Act, access to and sharing of data, and the role Digital ID can play in this shifting landscape. Read more |
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MAIN EVENTS -
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EBF Steering Committee for Financing Growth online meeting
For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS
UK Finance: Digital banking experience trends for 2022
In UK Finance's latest blog, MagiClick CEO Mark Lusted takes a look at the key post-pandemic digital banking trends following a tumultuous 18 months and big shifts in customer behaviors. The research shows that the events of the past 18 months have accelerated the adoption of digital banking services by consumers across all age ranges. However, although the quality and ease of use of the digital experience are clearly of high importance to a large majority of users when choosing who to bank with, interestingly, this was of the highest importance to the over 55s. Read more
SBA: Open Finance: Competition and Cooperation as the key to success
The Swiss Bankers Association (SBA) works to increase awareness of the possibilities of open finance. "Only by means of a cooperative approach of the financial center actors can efficient and sustainable added value be generated", Richard Hess, SBA Head of digitization says. This results from "cooperation in the creation of jointly agreed technical and regulatory bases and competition by means of innovative products and services based on these principles", he adds. Read more (DE)
Finance Norway: New form of fraud from new entrant
Several banks have reported that customers are exposed to a new type of fraud aimed at tricking them into carrying out Bank ID authentication and entering activation codes. Finance Norway stresses the importance of not sharing codes or anything related to our personal Bank ID to others. Read more (NO) |
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FROM THE INSTITUTIONS
ECB appoints Cornelia Holthausen as Director-General Macroprudential Policy and Financial Stability
The Executive Board of the European Central Bank (ECB) has appointed Cornelia Holthausen as Director-General Macroprudential Policy and Financial Stability (DG-MF). The Directorate General provides analysis and policy advice on macroprudential policies, financial stability, financial regulation and supervision. Read more
BIS: François Villeroy de Galhau: Bank of France: How the commitment to fintechs is being implemented
The Bank for International Settlements (BIS) has published the speech by François Villeroy de Galhau, Governor of the Bank of France at the ACPR-AMF. In his speech, he stressed that, with the development of the fintech system, it has become important to engage with a broad range of stakeholders. Besides, there is a need to promote an innovation-friendly regulatory framework, but it must be technology-neutral. Read more
EBRD: Multilateral Banks on Climate Finance
Multilateral development banks (MDBs), including the European Bank for Reconstruction and Development (EBRD), are calling for “a significant expansion and acceleration of climate action across countries and economic sectors” in a joint statement issued at the COP26 Climate Conference in Glasgow. The banks warned that “climate change and the parallel crisis of environmental degradation are threatening to reverse years of development progress”. 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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