EBF MORNING BRIEF Monday 15 February 2021 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. Recommend the EBF newsletters to a colleague. Click here to sign up! |
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FROM THE MEDIA WSJ: European banks use pandemic to clean house European banks are using the pandemic to make changes investors have wanted for years: slash jobs, shut branches and force customers online, WSJ reports. Read more The Economist: European banks need new chiefs Reviving profits and valuations—a must if banks are to raise capital on public markets—requires a strategic rethink that “wartime” CEOs have shown little will or skill for, writes the Economist. A growing chorus of pundits, investors and board members want fresh faces to embrace the mission. Read more FT: BoE plans break from EU with tougher bank capital rule The Bank of England (BoE) is preparing its first significant break from EU regulations with a proposal that would make bank capital rules tougher in the UK than on the continent, the FT reports. Read more (€) |
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MAIN EVENTS today Video conference of the Eurogroup. Agenda EBF Sustainable Finance Working Group Virtual meeting For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS UK Finance: Discontinuation of LIBOR Guide for banks and lenders UK Finance, with the support of PwC, has developed a guide for banks and lenders on the discontinuation of LIBOR. The guide sets out where we are with transition at the start of 2021 and identifies the actions firms may need to take now to ensure they are ready to meet the various LIBOR implementation deadlines. Read more NVB: Banks must regain trust to be part of the solution The Dutch Banking Association (NVB) interviewed Roald van der Linde, Member of Parliament and VVD (People's Party for Freedom and Democracy) spokesman for Financial Markets. Full interview available at nvb.nl. Read more (NL) Bankenverband: A strong upswing in 2021 remains possible The Association of German Banks (Bankenverband) reports an economic revival from the second quarter of this year is possible with strong catch-up opportunities. Read more (DE) Czech Banking Association: Macroeconomic Forecast February 2021 The Czech Banking Association (CBA) reports a lower-than-expected economic downturn in the last quarter of 2020. CBA estimates an economic growth of 2.6% in 2021 and an acceleration of 4.6% in 2022. Read more (CZ) |
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FROM THE INSTITUTIONS ECB: Greening monetary policy Climate change requires urgent action and we at the ECB must be committed to doing our part, says ECB Executive Board member Frank Elderson. The EU Treaties define clear obligations and limits. They provide substantial scope for the ECB to take action on climate change. Read more European Parliament: The EU’s regulatory response to addressing NPLs The European Parliament published an in-depth analysis in regard to the EU’s regulatory and supervisory response to addressing non-performing loans. It addresses the evolution of nonperforming loans (NPLs) over time, the EU regulatory and supervisory approaches to manage NPLs and highlights areas where gaps may still be observed. Read more IFM: Legally speaking, is digital money really money? Countries are moving fast toward creating digital currencies. Or, so we hear from various surveys showing an increasing number of central banks making substantial progress towards having an official digital currency. But, in fact, close to 80 percent of the world’s central banks are either not allowed to issue a digital currency under their existing laws, or the legal framework is not clear. According to a new IMF staff paper, only about 40 central banks are legally allowed to issue digital currencies. 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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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 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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