EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 17 January 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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EBF/Reply webinar on Cloud Computing Transformation in Financial Services |
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 | The EBF/Reply joint webinar on Cloud Adoption in financial services is coming on Wednesday 19 January. Drawing on the results of a survey conducted by Reply covering more than 100 financial institutions in the EU and the UK and the lessons learned from 1,000 cloud projects conducted with financial institutions, this event will look at the main challenges around Cloud Migration as well as Security and Compliance considerations. Register here |
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FINANCIAL REGULATION AGENDA for next week Monday 17 January Tuesday 18 January Wednesday 19 January -
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EBF Secondary Market Working Group online meeting -
Thursday 20 January Friday 21 January For a full-year overview of key financial regulation events: click here |
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FROM THE MEDIA
Reuters: Eurozone inflation not as transitory: ECB's de Guindos
The euro zone's inflation spike is not as transitory as earlier thought and price growth this year is at risk of exceeding projections, European Central Bank (ECB) Vice President Luis de Guindos said. As reported by Reuters, he added that over the longer term, risks are seen balanced and 2023 and 2024 inflation will be below the ECB's target. Read more
Bloomberg: Swiss digital-currency experiment gains momentum
The Swiss National Bank and partner organizations successfully conducted the second stage of their experiment to process digital currencies within the country’s financial system. Five commercial banks integrated wholesale central-bank digital currency into their existing core banking systems, according to a report seen by Bloomberg. The test covered a wide range of transactions, including interbank, monetary policy, and cross-border. Read more
Finextra: Lords Committee pours cold water on UK CBDC
According to Finextra, a Committee of peers in the House of Lords has concluded that there is no convincing case for the creation of a central bank digital currency in the UK. The Committee expresses a view that the creation of a retail CBDC could lead to a run on bank deposits in times of economic stress and could draw the Bank of England into controversial debates on privacy and state surveillance. Read more |
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FROM EBF MEMBERS Febelfin: Interbank switching service received over 107,000 requests In 2021, 107,462 bank switching requests were made via the free Bankswitching interbank mobility service, which allows customers to transfer their accounts to another bank without interrupting their current payment orders. Read more (FR)
Finance Denmark: Interest in home purchases and new construction in 2021 was the highest in four years
2021 was a busy year for banks and mortgage lenders, with Danes' interest in buying a new home or building their own at its highest level in four years. The figures from Finance Denmark show that this was particularly true in the first half of the year. Read more (DK) BdB: Ossig welcomes the initiative for financial education for adults "The initiative for financial education by EU Commissioner Mairead McGuiness and the OECD is very important". This is what Christian Ossig, General Manager of the Association of German Banks (BdB) said about the framework for financial literacy that the EU and OECD have launched to support adults in making solid financial decisions. Read more (DE) |
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FROM THE INSTITUTIONS BIS Board elects François Villeroy de Galhau as new Chair The Board of Directors of the Bank for International Settlements (BIS) has elected François Villeroy de Galhau, Governor of the Bank of France as its new Chair. His term is for a period of three years, starting on 12 January 2022. Mr Villeroy de Galhau succeeds Jens Weidmann who served as Chair of the Board until December 2021 when he concluded his tenure as President of the Deutsche Bundesbank. Read more
EBA: Guidelines for institutions and resolution authorities on improving banks’ resolvability and consults on transferability
The European Banking Authority (EBA) published its final Guidelines for institutions and resolution authorities on improving banks’ resolvability. EBA also launched its consultation paper on Guidelines for institutions and resolution authorities on transferability of parts of or a whole bank in the context of resolution to complement the resolvability assessment for transfer strategies. In particular, the Guidelines specify separability in the context of the application of transfer tools. The consultation runs until 15 April 2022. Read more
ECB: Economic Bulletin
The European Central Bank (ECB) has published its Economic Bulleting. The publication shows that the global economy remains on a recovery path, although persisting supply bottlenecks, rising commodity prices, and the emergence of the Omicron variant of the coronavirus (COVID-19) continue to weigh on the near-term growth prospects. Read more |
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FROM THE EBF this week
EBF Feedback to the European Commission’s proposed AML Package
The EBF has provided feedback to the European Commission’s proposed AML Package. The EBF is fully supportive of the Commission’s overarching objective to address the ineffectiveness of the current EU AML framework. Bearing in mind the necessary lead-time and efforts to get the AML Package adopted and implemented, this momentum is a unique opportunity to improve the framework. Read more
EBF Response to Public Consultation on Guidance on the Rules Applicable to the Use of Public-Private Partnerships in The Framework of Preventing and Fighting Money Laundering and Terrorist Financing
The EBF has responded to the Commission consultation on guidance on rules for Public-Private Partnerships in the AML/CFT domain. The EBF stresses that information sharing in the context of fighting financial crime is critical in ensuring the effectiveness of the AML/CFT rules. Weaknesses in information sharing between obliged entities, financial intelligence units, and law enforcement authorities may inadvertently facilitate the activities of criminals who operate nationally or across borders. 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 v.barbieri@ebf.eu
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