EBF WEEKLY + FINANCIAL REGULATION AGENDA
For the week starting Monday 27 January 2025 An overview of the main financial regulation and banking stories this week and a look ahead to key events for the upcoming week, brought to you by the European Banking Federation. Recommend the EBF newsletters to a colleague. Click here to sign up! |
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FROM THE MEDIA
Risk.net: Stuck in the middle with EU: dealers clash over FRTB timing
European banks are divided over the implementation timeline of the Fundamental Review of the Trading Book (FRTB), with larger institutions advocating for a delay to align with the UK's postponed schedule, while others prefer adhering to the original EU timeline., as stated by Risk.net. Read more Financial Times: European banks to reward investors with bumper €123bn in payouts European banks are set to distribute nearly €123 billion to shareholders through dividends and buybacks, maintaining elevated returns due to robust profits from higher interest rates, according to the Financial Times. Read more The Banker: FCA looks to variable recurring payments to lower UK transaction costs The UK's Financial Conduct Authority (FCA) is promoting the adoption of variable recurring payments to reduce transaction costs and enhance payment efficiency, as mentioned by The Banker. Read more Reuters: HSBC's payments app closure puts around 400 jobs at risk, source says HSBC is closing its international payments app, Zing, as part of CEO Georges Elhedery's cost-cutting measures, potentially leading to approximately 400 job losses, writes Reuters. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 27 January
Deutsche Bundesbank: Digital Supervisory Briefing Electronic Money Association ‘EMA Conference 2025 – Innovate, compete, succeed: the future of digital payments’ ECB: Survey on the access to finance of enterprises (Q4 2024) Council Working Party on Financial Services and the Banking Union (Banking Union) Tuesday 28 January Eurostat ‘Second release sector accounts (households), (Q3 2024)’ Data release Council Working Party on Financial Services and the Banking Union (Banking Union) ECB: Euro area economic and financial developments by institutional sector (Q3 2024) European Parliament Committee on Budgetary Control (CONT) Meeting European Parliament Committee on Economic and Monetary Affairs (ECON) Meeting Wednesday 29 January European Parliament Committee on Economic and Monetary Affairs (ECON) Meeting Council Working Party on Financial Services and the Banking Union (Banking Union) Council Code of Conduct Group (Business taxation) Meeting Council Working Party Foreign Relations Counsellors (Legal, Financial & Institutial Aspects Cfsp (Sanctions)) ECB: National balance sheet of euro area monetary financial institutions, excluding the Eurosystem (Nov. 2024) IBA ‘ESG Accelerator Programme – Sustainable finance’ Webinar European Parliament Committee on Budgets (BUDG) Meeting Thursday 30 January Governing Council of the ECB: monetary policy meeting in Frankfurt ECB: Semi-annual payments statistics (all related datasets) (H1 2024) Eurostat ‘Business Demography – preliminary data, 2023’ data release Council Working Party on Tax Questions – Indirect Taxation Council Working Party on Financial Services and the Banking Union (Banking Union) Friday 31 January Eurostat ‘Preliminary flash estimate GDP – EU and euro area (Q4 2024)’ data release Eurostat ‘Contingent liabilities and non-performing loans, 2024’ data release Council Counsellors/Attaches Fiscaux meeting |
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2025 ENGAGE Webinar Series: Session I Thursday, 30 January 2025 at 15:00 CET
EBF Senior Policy Adviser on Sustainable Finance, Denisa Avermaete, will present insights on The Omnibus Simplification Effort in the inaugural session of the 2025 ENGAGE Webinar Series.
This crucial discussion will explore how the Omnibus initiative can address inconsistencies and streamline complex regulations without introducing additional uncertainties.
Learn how the initiative aligns with sustainability goals and ensures consistency in data reporting across regulations like CSRD, CSDDD, and the taxonomy framework.
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FROM EBF Chair of the European T+1 Industry Committee welcomes the official launch of the governance structure for the transition to T+1 Settlement Cycle The European Securities and Markets Authorities (ESMA) hosted a meeting to launch the T+1 Governance framework, aiming to coordinate the move to a shorter settlement cycle for securities transactions in the EU, aligning with the UK and Swiss markets, while ensuring industry-wide collaboration and minimizing disruption. Read more
Launch of the Report of the C-ESG Risk Roundtable Data Workstream
Discover how banks are using CSRD disclosures for risk management in our C-ESG Risk Roundtable Data Workstream report launched on January 23rd. Hear from Nordea, ING, and the ECB on data use, challenges, and quality improvement. Watch the recording here Jérôme Raguénès, Director of Digital, Payments and Operational Resilience at FBF on fraud Combating sophisticated fraud requires a coordinated effort across sectors, including enhanced security, cross-industry collaboration, and stronger regulation to safeguard the payment ecosystem. Watch the video New EBF Vacancy! Work with us! Visit our Vacancies page to learn more about the EBF Events Trainee opening. Read more |
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FROM THE INSTITUTIONS
European Securities and Markets Authority: New governance structure for transition to T+1 settlement cycle kicks off
ESMA, the EC, and the ECB have initiated governance to guide the EU’s transition to a T+1 settlement cycle, targeting implementation by 11 October 2027. Read more Bank for International Settlements: Privacy-enhancing technologies for digital payments: mapping the landscape A BIS paper evaluates privacy-enhancing technologies for digital payments, highlighting trade-offs between privacy, auditability, and performance while advocating for hybrid approaches combining cryptographic solutions and institutional controls to create scalable, privacy-preserving systems. 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.
For questions or suggestions contact r.hrelja@ebf.eu
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