EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 19 June 2023 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
CNBC: ECB diverges from Fed, raising rates to highest in 22 years
The European Central Bank (ECB) announced a new rate increase of 25 basis points, taking its main rate to 3.5%. As reported by CNBC, in a press briefing following the decision, ECB President Christine Lagarde said, “We are not thinking about pausing.” Read more
CoinDesk: EU leaked Digital Euro bill outlaws interest, large holdings, programmability
Paying interest on or surcharges for using a digital euro would be banned under a draft law seen by CoinDesk, and set to be proposed by the European Commission on June 28. “The digital euro shall be available for both online and offline digital euro payment transactions as of the first issuance of the digital euro,” said the text viewed by CoinDesk. Read more
Reuters: EU watchdog seeks clues on sector risks in Eurovita's failure
EU regulators are examining an Italian insurer's failure for clues to assess the wider sector's vulnerability to rising interest rates and whether companies owned by private equity funds face extra risks, three people familiar with the matter told Reuters. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 19 June
Council Financial Services Attachés European Climate Change Adaptation Conference
Tuesday 20 June
Wednesday 21 June Council Horizontal Working Party on Cyber Issues Council Trade Policy Committee — Experts (Services and Investment) EU Digital Summit 2023 Thursday 22 June Council Trade Policy Committee (Deputies) ECB General Council meeting
Friday 23 June Council Horizontal Working Party on Cyber Issues For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS
CBA: New president is Jan Juchelka
The Czech Banking Association (CBA) elected its new president: Jan Juchelka. Tomáš Nidetzký will be the new chairman of the CBA Supervisory Committee. Read more (CZ)
VÖB: The ECB is on the right track but it’s not quite there yet
The Association of German Public Banks (VÖB) comments on the monetary policy decisions of the European Central Bank (ECB)’s Governing Council: “With the eighth interest rate hike in a row, the ECB continues to stay on course which is an important signal". Read more (DE)
BPFI: Mortgage Approvals – April 2023
The Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for April 2023. Data show continued growth in first-time buyer mortgage approvals amid a general slowdown. Read more |
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FROM THE INSTITUTIONS
ECB: Monetary policy statement at a glance
The European Central Bank (ECB) raised interest rates by 25 basis points. The rate increase reflects the Governing Council’s updated assessment of the inflation outlook, the dynamics of underlying inflation, and the strength of monetary policy transmission. Read more
EBA: LCR and NSFR implementation in the EU in the context of the new economic environment and TLTRO repayment
The European Banking Authority (EBA) published its third Report on the monitoring of liquidity coverage ratio (LCR) and net stable funding ratio (NSFR) implementation in the EU. This Report assesses the potential impact on LCR and NSFR levels of the upcoming central bank funding repayment as well as of a potential scenario of higher liquidity risk, particularly affecting government bonds, derivatives and repo markets, in the context of a higher interest rate environment, inflation and recession risks. Read more
ESMA: Data Strategy for the next five years
The European Securities and Markets Authority (ESMA) published its Data Strategy for 2023-2028. Over the coming five years, ESMA will work to facilitate the use of new data-related technologies, reduce reporting compliance costs by regulated entities, enable the effective use of data and make data more broadly available to the public. Read more |
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FROM THE EBF this week New 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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This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v.barbieri@ebf.eu
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