EBF MORNING BRIEF Monday 13 February 2023 Good morning. Here are the top news stories and events in European banking, financial regulation and EU policy, brought to you by the European Banking Federation.
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FROM THE MEDIA
Reuters: Euro zone banks to repay another 36.6 bln euros in ECB loans
Eurozone banks will repay another 36.6 billion euros in European Central Bank (ECB) loans early. According to Reuters, the latest repayment of the ECB's Targeted Longer-Term Refinancing Operations (TLTRO) will take the amount of outstanding TLTRO loans to roughly 1.22 trillion euros. Read more
Bloomberg: Visco says yet to see what ECB will do on rates after March
The European Central Bank (ECB) still doesn’t have visibility on what will happen in May after a likely half-point hike in interest rates next month, Governing Council member Ignazio Visco said. As reported by Bloomberg, economists predict another quarter-point hike before a pause, while market suggests a rate peak of around 3.5%, up from 2.5% now. Read more
FT: Treasury in discussions to speed up Solvency II reforms
The Treasury is looking to speed up a key post-Brexit reform to unlock £100bn of investment from the UK insurance sector. Officials are discussing with the sector whether to pursue a two-stage implementation of the EU-inherited Solvency II regime, according to people familiar with the matter heard by the Financial Times (FT). Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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EBF Digital Thursdays The Advent of DORA: What changes will the next 24 months bring? Thursday 23 February | 3:30 PM CEST | ONLINE
The recently adopted Digital Operational Resilience Act (DORA) signals the introduction of a comprehensive legislative and regulatory framework with cybersecurity and resilience rules applicable to all financial services operators in the EU ecosystem.
At our next Digital Thursday in partnership with Deloitte,
we will bring together banks, regulators, and other cybersecurity experts to discuss how DORA shapes the sector’s cybersecurity landscape and how its requirements can be realistically implemented in practice.
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FROM EBF MEMBERS
Finance Norway: Personal Protection Commission's report
A Privacy Commission was appointed to investigate the status of privacy in Norway and identify ways forward. In response to a Commission's report, Finance Norway points to a need for a greater degree of interaction between professional environments and calls for greater attention to regulatory complexity and national room for action. Read more (NO)
NVB: Unintended side effects of modernizing company form
The Dutch Banking Association (NVB) appreciates the simplification of legal forms that the government wants to implement. However, the draft bill still contains ambiguities, such as in the area of liability, the entry and exit of partners and the consequences for the Deposit Guarantee Scheme and should therefore be amended. Read more (NL)
LBA: Not losing sight of climate change and SDGs
With the new decade starting off with a worldwide pandemic and continuing with the return of war in Europe, Simon Tribelhorn, CEO at Liechtenstein Bankers Association (LBA), discusses how the resilience and reliability of his country’s banking sector aims to be at the forefront of solving the social and ecological challenges of our time. Read more |
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FROM THE INSTITUTIONS
EIOPA: Close data gaps by revising reporting of occupational pensions
The European Insurance and Occupational Pensions Authority (EIOPA) has decided to revise the information it receives from national supervisors on occupational pensions. The amendments close important data gaps on emerging risks and fix inconsistencies that have been reported to EIOPA over the past years. Read more
BIS: François Villeroy de Galhau: Big techs in finance
François Villeroy de Galhau, Governor of the Bank of France, on Big tech and finance in a speech published by the Bank for International Settlements (BIS). 'Regulation of big techs in finance should go beyond traditional regulation of finance,' he says while pointing to the key challenges: competition, data protection, operational risk and cybersecurity. Read more
EC: EUDI Wallet: First technical Toolbox toward prototypes
The European Commission (EC) has published the first version of a common EU Toolbox to implement the European Digital Identity Wallet (EUDI Wallet). The Toolbox will complement the legislative proposal on a trusted and secure Digital Identity and is a crucial first step that will enable the creation of a robust framework for digital identification and authentication based on common standards across the EU. Read more |
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FROM THE EBF
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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