| EBF MORNING BRIEF Monday 19 September 2022 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
Bloomberg: ECB taps Amazon, 4 others to pitch Digital Euro prototype
As reported by Bloomberg, US tech giant Amazon is among the five companies the European Central Bank (ECB) has chosen to develop a prototype for a digital euro. Spain’s CaixaBank, France’s Worldline, Italy’s Nexi, and EPI, a consortium of banks and third-party acquirers, join Amazon in developing prototypes, with each company focusing on a specific digital use for the euro-area currency. Read more
Finextra: UK banks suffering due to lackluste sustainable trade finance
According to research from Pole Star, 90% of UK banks and 56% of Swiss banks have lost business in the trade finance industry due to a lack of decarbonization financing terms. In conversation with Simon Ring from Pole Star, Finextra questioned the need for banks to transition their sustainability strategies when it comes to trade finance. Read more
Reuters: Bankers wary of backlash if UK ditches bonus cap
Scrapping a cap on banker bonuses would be the strongest signal that Britain's new Prime Minister wants to 'unshackle' London from EU rules, but risks public outcry while doing little to bolster the City's short-term appeal. According to Reuters, a cap could prompt the EU to accelerate efforts to force euro financial businesses to move away from London. Read more |
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MAIN EVENTS -
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European Parliament Subcommittee on Tax Matters mission to Dublin -
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For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS
SBA: There is no alternative to a growth-friendly economic policy
At this year's Bankers' Day in Neuchâtel, the Swiss Bankers Association (SBA) addressed the consequences of global debt and the prospects for states, the economy and the financial markets. "A growth-friendly economic policy is mandatory and indispensable to solve the upcoming problems," stressed Marcel Rohner, President of the SBA. Read more (DE)
Finance Finland: Sustainable finance is a good example of prioritizing values over the economic advantage
For investing to be primarily values-based, investors must give a clear mandate to prioritize values even if this comes at the expense of economic factors. Regulation and the financial sector are both aiming to make responsible investment decisions as easy as possible, Finance Finland writes. Read more (FI)
FBF: Latest Business Finance Figures
Growth in bank loans to businesses continued to be dynamic in July, with outstandings increasing by 7.0% over one year to reach a total of €1.299 billion. According to data by the French Banking Federation (FBF), outstanding cash loans amounted to €337 billion, up 6.0% over one year. Read more (FR) |
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FROM THE INSTITUTIONS
EBA: Annual Bank funding plans report shows plans to issue more debt instruments to counterbalance decline in central bank funding
The European Banking Authority (EBA) published its annual Funding Plans Report. The Report highlights strong deposit growth and an increase in public sector sources of funding in 2021. The plans show banks’ intentions to increase market-based funding over the forecast period, while the gap between planned debt issuances and maturing targeted longer-term refinancing operations (TLTRO) remains significant. Read more
EIOPA updates the RFR Technical Documentation
The European Insurance and Occupational Pensions Authority (EIOPA) published the updated Technical Documentation of the methodology to derive EIOPA’s risk-free interest rate term structures. Read more
BIS: Looking through the waves - the value of resilience
Gabriel Makhlouf, Governor of the Central Bank of Ireland discussed the current economic outlook and the economic policy response to challenges across the euro area. "Economic shocks are not rare events and strengthening our economic resilience would help us manage those that will happen in the future," he says in the speech published by the Bank for International Settlements (BIS). Read more |
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FROM THE EBF this month
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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