EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 13 September 2021 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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Join EBF/S&P Global experts' discussion on ESG risk management in banks |
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There has never been greater demand for methodological developments in high quality, relevant and reliable ESG data. This has been driven by the shifting regulatory landscape and the growing awareness of key risks and impacts.
Join our experts on Tuesday 14 September, 15:30 CET / 14:30 GMT, as they discuss:
How banks are preparing for the assessment of climate transition and physical risks across their investment and lending activities. The role of climate scenarios in stress testing, as well as, methodological and data gaps. Innovation needs in climate and data analytics. |
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FINANCIAL REGULATION AGENDA for next week
Monday 13 September European Parliament plenary session, Strasbourg EBF Sustainable Finance Working group online meeting
Tuesday 14 September
EBF and S&P Global ‘ESG risk management in banks: Getting ready’ event. EBF Senior Policy Adviser – Sustainable Finance, Denisa Avermaete speaking ECB-Industry Dialogue on Market Risk online meeting EFIPP (Europol Financial Intelligence Public Private Partnership) Plenary meeting
Wednesday 15 September
European Parliament: ECON Committee meeting EFIPP (Europol Financial Intelligence Public Private Partnership) Plenary meeting
Thursday 16 September
European Banking Authority (EBA) Board of Supervisors meeting
Friday 17 September
For a full-year overview of key financial regulation events: click here |
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FROM THE MEDIA
CNBC: European Central Bank slows its bond purchases as inflation surges
The European Central Bank (ECB) kept its monetary policy unchanged on Thursday but opted to slow down the pace of net asset purchases under its pandemic emergency purchase program. The Governing Council voted to maintain the interest rate on the ECB’s main refinancing operations at 0%, on the marginal lending facility at 0.25%, and on the deposit facility at -0.5%, CNBC reports. Read more
Bloomberg: Spain is ready for ECB taper next year, treasury Chief says
Spain has taken steps to prepare for the gradual tapering of European Central Bank stimulus next year and expects policymakers to avoid a market disruption, Carlos Cuerpo, the new Head of the country’s Treasury said. Besides, green bonds appear as a structural element in future issuance plans, Bloomberg reports. “The issuance of green bonds is here to stay,” Cuerpo said. “Moving forward, it’s going to become a structural element in issuance plans". Read more
VOX/CEPR: Mortgage rates, origination fees, and the transmission of monetary policy
In the aftermath of the 2007–09 financial crisis, central banks have sought to stimulate the economy through new policies aimed at revamping credit and housing markets. This column by VOX/CEPR examines the effects of the Bank of England’s Funding for Lending Scheme, which offers cheap medium-term loans to UK lenders. Mortgage lenders actively price-discriminate across borrowers using two-part tariffs which split the origination fee from the interest rate. This increased after the introduction of the scheme, implying a stronger transmission of monetary policy to credit markets and the real economy. Read more |
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FROM EBF MEMBERS
NVB: Countering terrorism financing: what can we expect from banks?
Can transaction monitoring be used to track down the financing of terrorism? Can transactions provide any information in this context? Do the benefits outweigh the costs? The researcher Esme Bosma investigated the role of banks as gatekeepers, in particular in the countering of terrorism financing at the human-technological interface. Her recommendations to the Dutch Banking Association (NVB) are for setting realistic expectations for banks and balance the capacity of the public and private actors in the chain. Read more
Finance Denmark: Homes are for sale a little longer
Danes on a home hunt have the opportunity to think a little more before signing a purchase agreement for their future home. The occupancy times for owner-occupied flats in Copenhagen are almost back at the same level as a year ago. This is shown by the latest figures from Finance Denmark. Read more (DK)
Finance Finland: Banks and authorities are developing their preparedness through a joint exercise
The Financial Action Exercise (FATO) tests how cooperation between the financial sector and the authorities works in a crisis situation. The exercise organized by the Security of Supply Organization (HVO) will begin on September 10, Finance Finland reports. Read more (FI) |
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FROM THE INSTITUTIONS
ECB: Monetary policy decisions
Based on a joint assessment of financing conditions and the inflation outlook, the Governing Council judges that favorable financing conditions can be maintained with a moderately lower pace of net asset purchases under the pandemic emergency purchase program (PEPP) than in the previous two quarters. The Governing Council also confirmed its other measures, namely the level of the key European Central Bank (ECB) interest rates, its forward guidance on their likely future evolution, its purchases under the asset purchase program (APP), its reinvestment policies, and its longer-term refinancing operations. Read more
SRB: No time to waste in completing the Banking Union
"The European Banking Union still awaits completion, with more work urgently needed to move towards a fully integrated system that delivers better crisis management, depositor protection, and a stronger banking sector", Jan Reinder De Carpentier, Vice-Chair at Single Resolution Board (SRB) wrote. Read more
BIS: Joachim Wuermeling: Transformation finance – challenges for the banking system
Joachim Wuermeling, Member of the Executive Board of the Deutsche Bundesbank, discussed how to tackle disruptive change at the Bundesbank symposium on banking supervision. "Right now, it is also important for us in our capacity as regulators and supervisors to look at the transformation in strategic terms, to define what role we play in that process, and to ensure that the stability of banks is preserved", he said. Read more |
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FROM THE EBF this week
ESMA consultation on amendments to MAR Guidelines on delayed disclosure of inside information: EBF response
The EBF has responded to the consultation of the European Securities and Markets Authority (ESMA) on its Guidelines on delayed disclosure of inside information under the Market Abuse Regulation (MAR) in relation to its interaction with prudential supervision. In its response, the EBF addresses the disclosure of decisions regarding redemptions, reductions and repurchases of own funds instruments as well as the disclosure of draft SREP decisions. Besides, the disclosure of Pillar 2 Requirement (P2R) and of Pillar 2 Guidance (P2G) are also part of the response. Read more 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 f.indaco@ebf.eu
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