EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 21 November 2022 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 Reuters: ECB to begin cash mop-up as banks repay billions in loans The European Central Bank (ECB) is set to begin the biggest withdrawal of cash from the euro zone's banking system in its history, as it gives banks a first chance to repay hundreds of billions of euros in ECB loans. While this early TLTRO reimbursement is voluntary, the ECB has given banks an incentive to get rid of those loans by taking away a rate subsidy last month, Reuters points out. Read more
CNBC: ECB may have to restrict growth to control inflation
The European Central Bank (ECB) will keep raising interest rates and may even need to restrict economic activity to tame inflation, ECB President Christine Lagarde said. According to CNBC, investors have now split between pricing a 50 and 75-basis-point hike in December and see the reduction of bond holdings, also known as quantitative tightening, starting in the first half of 2023. Read more
Bloomberg: Capital market risks trigger calls for new rules: ESG survey
Financial market participants are asking for more regulations and better supervision to help rein in exaggerated ESG claims, a Bloomberg News survey found. However, the survey revealed that investors aren’t keen to have the EU’s Taxonomy Regulation become a global benchmark. The same holds true for SFDR, as well as the EU’s standards for businesses, known as the Corporate Sustainability Reporting Directive. Read more |
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EBF Digital Thursdays: Last chance to register! Close Up: Building Pan-European Instant Payments 24 November / 15:30 -16:30 (CET) |
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The EBF Digital Thursdays are back next week with a special close-up event on instant payments in Europe. In light of the European Commission's latest proposal to bring instant payments towards the ‘new normal’, we will discuss what it means for the industry and how it will impact the potential for building pan-European solutions based on instant payments.
Discover the agenda and register! |
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FINANCIAL REGULATION AGENDA for next week
Monday 21 November
European Parliament plenary session (Strasbourg) Tuesday 22 November Council Working Party on Tax Questions (Direct Taxation) Wednesday 23 November Council Working Party on Tax Questions (High Level) Council Horizontal Working Party on Cyber Issues Thursday 24 November Deutsche Bundesbank term structure workshop EBF and Deloitte Luxembourg ‘Banking 2030’ joint workshop Friday 25 November 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 Febelfin: Digital inclusion Improving digital skills for all helps our society to progress and the banking sector is eager to contribute to this progress. Its approach is fully in line with its societal commitment: to create a safe digital environment and ensure that everyone is able to manage this universe. Digital (and financial) inclusion is important to Febelfin, as explained by Liesbeth Dewyn, Head of Marketing at Febelfin. Read more (FR)
BdB: Five tips on how to reduce the risk of losses
Many are waiting for the perfect time to start investing with Exchange Traded Funds (ETF). If you want to invest available funds in ETFs, you can use these five tips provided by the Association of German Banks (BdB) to reduce the risk of losing your money. Read more (DE)
SBA: Cybersecurity and anti-money laundering
There has been an increase in the risks of cyber-attacks, fraud, and money laundering. How should authorities and banks work together to counter these increased risks more effectively? Are banks in a position to carry out effective preventive work? The Swedish Bankers' Association (SBA) tries to answer these questions. Read more (SWE) |
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IBFed and Deloitte joint report Banking on climate neutrality: The global banking industry’s role in transitioning to a low-carbon economy |
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At COP 26, 190-plus nations agreed to boost the rate of their greenhouse-gas emission cuts. One year later, where does the banking industry stand? To find out, the International Banking Federation and Deloitte surveyed bank executives and directors from around the world. At the EBF, we are happy to have contributed to this report exploring the role of banking in the transition. |
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FROM THE INSTITUTIONS ECB joins European data and cloud network initiative The European Central Bank (ECB) became a member of Gaia-X, a non-profit association advocating digital sovereignty for Europe. Gaia-X develops common standards for digital services like cloud services. This will support the digital transformation of the economy and is in line with the European Commission’s digital strategy. Read more
ESMA: Guidelines on resolvability and cooperation for CCPs
The European Securities and Markets Authority (ESMA) has published two Final Reports including guidelines on the central counterparties (CCPs) Resolution Regime under the CCP Recovery and Resolution Regulation (CCPRRR). Read more
SRB: Work Programme 2023 marks ‘end of transition phase’ for banks
The Single Resolution Board (SRB) published its 2023 Annual Work Programme, setting out its objectives and priorities for the year ahead. The SRB is committed to ensuring banks make themselves fully resolvable by the end of the coming year, building on the progress achieved so far. 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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