EBF MORNING BRIEF Wednesday 8 March 2023 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 GRR: To fuel sustainable growth in Europe, we must rethink the banking regulatory framework In an op-ed piece by the Global Risk Regulator (GRR), Wim Mijs, CEO of the European Banking Federation (EBF) speaks about the study commissioned by the EBF to Oliver Wyman on the EU banking regulatory and supervisory framework and its impact on banks. The review of current capital requirements and supervisory processes could provide capacity for around €4tn of additional bank lending to finance the green and digital transitions and strengthen the competitiveness of the EU economy. Read more Reuters: EU watchdog to tackle banks with too few women on boards European Banking Authority (EBA) said it will crack down on the 28% of banks it found to have failed to implement a mandatory policy on boardroom diversity. As reported by Reuters, the report found that other types of diversity, such as educational or social backgrounds, could also be improved. Read more
Bloomberg: ECB says consumer inflation expectations fall significantly
Consumer expectations for euro-zone inflation receded “significantly,” according to the European Central Bank (ECB), bolstering calls for the pace of interest-rate increases to be slowed. Expectations for three years ahead plunged to 2.5% while economic-growth predictions for the next year continued to shift upwards, Bloomberg reports. Read more |
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MAIN EVENTS Council Horizontal Working Party on Cyber Issues |
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FROM EBF MEMBERS
VÖB: Banks as a source of inspiration for politics and business
Digitization, decarbonization, demography, and deglobalization are four trends that lead to major structural challenges for Germany. Banks are effective partners for the government to close gaps thanks to their programs, says Philipp Otto in an episode of the podcast by the Federal Association of Public Banks in Germany (VÖB). Read more (DE)
Finance Norway: Insurance fraudsters
Finance Norway's fraud Report contains an overview of the most serious cases of insurance fraud. According to the figures published, the number of such fraud cases has increased by seven percent in the past year. Read more (NO) UK Finance: EU sanctions Aline Doussin, Partner at Hogan Lovells, joined UK Finance to discuss EU sanctions and their impact on the global landscape. How does the EU enforce sanctions laws and what regimes are implemented? Can EU member states have their own autonomous regime? And what is meant by ownership and control? Read more |
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FROM THE INSTITUTIONS ECB: Has the euro changeover really caused extra inflation in Croatia? Croatian consumers have expressed concerns about price increases related to the euro changeover. Preliminary evidence presented in this European Central Bank (ECB) blog shows that the changeover from kuna to euro has so far had relatively little impact on Croatian consumer prices and price perceptions. Read more
EBA: Women’s representation on boards has gradually improved
The European Banking Authority (EBA) published its Report on diversity practices and the gender pay gap at the level of the management body. Figures show that women’s representation on boards has gradually improved, but imbalances remain. Read more
EIOPA: Survey to map financial innovation in insurance
The European Insurance and Occupational Pensions Authority (EIOPA) is launching a new Digitalisation Market Monitoring Survey to monitor the development of European insurers’ digital transformation strategies and better understand how undertakings use or plan to use innovative business models and technologies. Read more |
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FROM THE EBF
EBF key considerations following the publication of the Cyber Resilience Act (CRA) proposal
Following the publication by the European Commission of the proposal for a Regulation on horizontal cybersecurity requirements for products with digital elements, i.e. the Cyber Resilience Act (CRA), the European Banking Federation (EBF) presents some key considerations of the European banking sector on the published text. Read more
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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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This newsletter is published by the EBF Mediacentre.
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