EBF MORNING BRIEF Monday 14 September 2020 Good morning. Here the top news stories and events in European banking, financial regulation and EU policy, 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 The Economist: Badwill hunting; Why are European banks merging? If European banks want to catch up with American and Chinese ones, they must push for consolidation. European banks have a 6.7% return on capital on average, the lowest of any region, according to the Banker, a trade publication. Among American banks, it is 14.4%. Greater scale would also help them make the big investments in technology platforms and data analysis required to keep up with digitisation. Read more (€) PYMTNS: Central Banks Demand Strict Cryptocurrency Regulations Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, reported PYMNTS.com. Read more Reuters Ekathimerini: Relaxed fiscal policy for next year too, says Eurogroup Friday’s informal Eurogroup meeting confirmed that the fiscal rules for eurozone members will also be relaxed next year, offering Greece and other countries some much-needed leeway in order to contain the economic effects of the coronavirus pandemic, reports Greece's Kathimerini. Read more |
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MAIN EVENTS today Monday 14 September: European Parliament plenary session, four-day event in Brussels Fintech Belgium workshop & meetup: PSD2 one year later. EBF's Anni Mykkänen speaking SUERF ChiefEcon Forum Fireside chat webinar: Economic outlook, the ECB’s monetary policy, and financial market implications with Philip R Lane, ECB Chief Economist and Executive Board Member |
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FROM THE EBF MEMBERS NVB: AML: De-risking and its impact on access to financial services Money laundering investigations sometimes pose obstacles to companies’ access to financial services - Have a look at the Dutch Banking Association (NVB) response to the call for input by EBA on ‘de-risking’ and its impact on access to financial services. Read more Finance Norway: The temporary flexibility quotas are being cut Finance Norway believes that flexibility quotas should have been gradually reduced. In line with what Finance Norway has argued for, the Ministry emphasizes that the regulations do not prevent the banks from extending the instalment-free period for those who need it. It is positive and important, says Erik Johansen, director of banking and capital markets at Finance Norway. Read more (FI) Finance Denmark: Low-interest rates on mortgages ease investors Danish mortgage rates have been stable during the corona crisis. Interest rates jumped slightly in March, but are now lower than before Denmark closed down. Despite the fact that in many ways we live in a turbulent time, the stable and low-interest rate level has contributed to more people being confident in considering a home purchase or an investment in, for example, new commercial properties, says Ane Arnth Jensen, Deputy CEO of Finance Denmark. Read more (DK) |
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BANKING ESSENTIALS WEBINAR Sustainability & Going Green: How will Banks adapt to this new world? Tuesday 15 September As regulatory pressure mounts it is imperative that banks have a clear plan to address climate risks and to finance a green agenda. Join our experts as they discuss how banks can achieve a successful climate management strategy. Register HERE |
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FROM THE INSTITUTIONS Eurogroup: Main results of the Eurogroup meeting The Eurogroup meeting was hosted by the German presidency of the Council in Berlin. It was the first in-person meeting of the Eurogroup since February 2020, when Covid-19 restrictions were introduced. This was also the first meeting chaired by the Eurogroup President Paschal Donohoe, who took up the function on 13 July 2020. Read more ECB: Covid-19: Pandemic response policies & bank lending conditions The European Central Bank (ECB) has published a report on pandemic response policies and bank lending conditions. Read more Deutsche Bundesbank: Continued strong growth in card payments The German Bundesbank published an article on continued strong growth in card payments. It finds that cashless payment instruments in Germany were already being used more frequently in 2019, i.e. prior to the outbreak of the Covid-19 pandemic. This was evidenced by the latest figures of the Deutsche Bundesbank’s Statistics on Payments and Securities Trading, Clearing and Settlement. Read more Statement of the UKCG and the leaders of the EP political groups The UKCG (UK Coordination Group) and the EP political group leaders issued the following statement after meeting with Chief EU Negotiator Michel Barnier and Joint Committee Co-Chair Maroš Šefčovič, on Friday. Read more European Commission weekly schedule Find out more about the European Commission's engagement and activities for the upcoming week. Read more European Central Bank weekly schedule Find out more about the ECB's engagements and activities for the upcoming week. Read more European Parliament weekly schedule Find out more about the Parliament's engagements and activities for the upcoming week. Read more |
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FROM THE EUROPEAN BANKING FEDERATION AI inception impact assessment consultation: EBF response The European Banking Federation (EBF) submitted its response on the European Commission’s Consultation on its Inception Impact Assessment (IIA) on a Proposal for a legal act of the European Parliament and the Council laying down requirements for Artificial Intelligence (AI). Read more Digital Services Act (DSA): EBF responds to the EC consultation The European Banking Federation has responded to the European Commission’s (EC) consultation on the Digital Services Act, we would like to present the respective key messages prior to the publication of the EC legislative proposal on the Digital Services Act. Read more BCBS consultation on NPL securitisations: EBF response The EBF has responded to the consultation of the Basel Committee on Banking Supervision on a technical amendment regarding the capital treatment of securitisations of non-performing loans (NPL). Read more Sustainable Finance: EBF responds to EC assessment on disclosures The European Banking Federation has given its feedback on the EC’s Inception Impact Assessment on the Commission Delegated Regulation on taxonomy-related disclosures by undertakings reporting non-financial information. Read more |
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The European Banking Federation and fTLD Registry Services (fTLD) are partnering to educate the European banking sector about the cybersecurity role .BANK plays in protecting banks against Business Email Compromise (BEC) scams, phishing and spoofing attacks that lead to breaches, identity theft and financial fraud. fTLD administers the .BANK domain and the EBF has served on its Advisory Council since 2013. To learn more about the security benefits of .BANK, visit https://www.register.bank/ebf/ or contact fTLD at EBF@fTLD.com. |
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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. The EBF 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. |
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This newsletter is published by the EBF Mediacentre. For questions or suggestions contact mediacentre@ebf.eu Recommend the EBF newsletters to a colleague. Click here to sign up! European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium |
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