EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 25 October 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

 

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G20 SUMMIT: October 30th and 31st in Rome

The Summit of the G20 Heads of State and Government will be held in Rome on October 30th and 31st, 2021. The summit will focus on the fight against climate change, coronavirus, and the measures required for a global recovery after the pandemic, Italian Prime Minister Mario Draghi said. Participants will be the Members of the G20, a few guest countries, and representatives from some of the major International and Regional Organizations. Ministers of Economy and Finance are also traditionally invited to attend. The Rome summit will be particularly important as it comes just before the United Nations COP26 climate change conference to be held in Glasgow, Scotland, where the position of G20 nations will be critical. Read more

FINANCIAL REGULATION AGENDA for next week

 


Monday 25 October

 

Tuesday 26 October

 

Wednesday 27 October

 

Thursday 28 October

 

Friday 29 October

 

Saturday 30 October


 For a full-year overview of key financial regulation events: click here 

REGISTRATION OPEN!

EBF DIGITAL THURSDAYS 2021 

During the first EBF Digital Thursdays, the discussions will focus on the legislative progress on digital operational resilience. As the EU legislator proposes a harmonized approach to operational resilience under the Digital Operational Resilience Act (DORA), regulators and industry experts will explore this advancing initiative and its effect on digital innovation. Taking place within the European Cybersecurity Month, this Digital Thursday showcases also the importance of cyber threat information sharing and other private initiatives, including raising awareness on cyber risks. 
Register here

FROM THE MEDIA


FT: ECB pushes banks to boost their post-Brexit operations

According to the Financial Times (FT), the European Central Bank (ECB) is pushing banks to add hundreds of extra staff and billions of extra capital to their post-Brexit operations in continental Europe. Bank executives, lawyers, and supervisors all told the FT that the ECB is becoming increasingly forceful in its demands that lenders move more resources to the continent to run their European businesses. The push is partly linked to the ECB’s recent decision to end temporary pandemic-era reprieves it granted banks on their timetable for moving staff and capital to the EU. Read more 


Bloomberg: European Bank CEOs are as divided on inflation as everybody else

The leaders of Europe’s top banks agree they have a lot riding on the recent surge in consumer prices. But when it comes to deciding whether inflation is here to stay, they’re as divided as policymakers and business executives, Bloomberg reports. On the one side, Deutsche Bank AG Chief Executive Officer Christian Sewing is preparing for longer-lasting inflation. On the other side, Banco Santander SA Chairman Ana Botin is calling it a temporary spike from the pandemic and other factors, although she acknowledges the dangers of price pressures persisting. Read more


Finextra: EBA clarifies issues by working group on APIs under PSD2

The European Banking Authority (EBA) published clarifications to a seventh set of issues that had been raised by participants of its working group on Application Programming Interfaces (APIs) under the Payment Services Directive (PSD2). The clarifications respond to issues raised on the downtime of dedicated interfaces, payment status/rejection reasons, ASPSPs restricting access in case of embedded redirection, the scope of the bank offered consent, inability to initiate bulk payments via APIs, and whether the Electronic Banking Internet Communication Standard (EBICS) is within the scope of PSD2, Finextra reports. Read more

FROM EBF MEMBERS

 

SBA: The Swedish Bankers’ Association signs Principles for Responsible Banking

The Swedish Bankers' Association joined the UN Principles for Responsible Banking as a supporting organization. The principles aim to bring the banking sector in line with the UN Sustainable Development Goals, the Paris Agreement, and other national and international climate goals. Read more


FBF: The FBF partner of the "I love my box" operation

The French Banking Federation (FBF) renews its partnership with "I love my box". Placed under the theme of growth, this new edition is an opportunity to talk about the challenges of the recovery period. The business festival is a highlight of the French banking sector's commitment to sustainable growth in France. Read more (FR)


UK Finance: Beyond open banking: transforming the audit process

With their popularity growing among consumers, open banking payments are predicted to increase by more than 460 percent by 2024. This is what Caroline Winch, Commercial Director at Confirmation, part of Thomson Reuters, wrote in a blog for UK Finance. "As user interaction improves and costs are reduced, many merchants in the UK are adding open banking to their payment mix", she says. Read more

FROM THE INSTITUTIONS


ESAs invite stakeholders' input on PRIIPs review

The European Supervisory Authorities (ESAs) have opened a call for evidence regarding the Packaged retail and insurance-based investment products (PRIIPs) Regulation. ESAs are requesting information from stakeholders on a range of topics including the practical application of the existing KID such as its use by financial advisors or the use of digital media, the scope of the PRIIPs Regulation, and the degree of complexity and readability of the KID. The call for evidence is open until Thursday 16 December 2021. Read more


ESMA: CCP Supervisory Committee Chair delivers a keynote speech at the second EACH CCP Risk Management Summit

The Chair of ESMA’s CCP Supervisory Committee, Klaus Löber, delivered a keynote speech on the role of CCPs in supporting the safety and efficiency of global financial markets. The second online EACH CCP Risk Management Summit is organized by EACH, the European Association of Central Counterparty clearing houses that represents the interests of Central Counterparties (CCPs) in Europe since 1992. Read more


European Parliament: ECON Agenda 

The ECON Committee has published its draft agenda for its meeting on 26 October. Items include the Digital Markets Act, Digital Services Act, and European Green Bonds. In addition, it mentions a public hearing on the consequences of the pandemic on women and how the recovery can be designed to protect women and promote gender equality, and the mainstreaming of those objectives in the RRF/NRPs. To conclude, there will be an exchange of views on the revised delegated act (RTS) on the Key Information Document under the PRIIPs Regulation (EU) No. 1286/2014. Read more

FROM THE EBF  this week


European Banking Federation announces support for Net-Zero Banking Alliance

The European Banking Federation (EBF) today became the first official supporter of the Net-Zero Banking Alliance (NZBA), an industry-led, UN-convened international initiative focused on delivering the banking sector’s ambition to align its climate commitments with the Paris Agreement goals. With this move, the EBF commits to further step up its efforts to accelerate the banking sector transition to net zero and facilitate its member banks’ ambitions to achieve this goal. Read more


EBA Consultation on draft Guidelines on the limited network exclusion under PSD2: EBF Response

The EBF has responded to the EBA Consultation on draft Guidelines on the limited network exclusion under PSD2. The response highlights that a transparent and clear application of the exemptions is relevant from a consumer protection perspective. When paying with a card that is issued under the limited network exclusions, consumers cannot benefit from those consumer protection rules that apply under PSD2. Also, a harmonised interpretation is also vital in terms of competition reasons, since there is a large cost difference in offering a service exempt from PSD2 compared to services in the scope. A more harmonised application of the exemptions would support a more level playing field. 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

This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v.barbieri@ebf.eu
 

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