| EBF MORNING BRIEF Monday 23 November 2020 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 FT: Deutsche Bank on the lookout to expand its payments business Germany’s largest lender Deutsche Bank is on the lookout for takeovers and joint ventures to help towards its goal of becoming a major force in Europe’s rapidly consolidating payments processing industry. “Digital payments are one area with the highest strategic priority for us,” Stefan Hoops, head of Deutsche’s corporate bank, told the Financial Times adding that “non-organic growth is clearly an option . . . If an opportunity comes along we would clearly consider [it]”. Read more €
Bloomberg: EU’s Campa expects loan provisions to rise this quarter
European Banking Authority Chairman Jose Manuel Campa discussed repayment of loans from European banks amid the coronavirus pandemic, the evolution of shadow banking, and whether banks are sufficiently prepared for Brexit. He spoke on "Bloomberg Markets: European Close." Read more
S&P Global: Swiss banks relaunch dividend payouts
Swiss banks have become the first European institutions to resume dividend payouts after their national regulator agreed that domestic conditions suggest that they have weathered the worst of the COVID-19 storm, perhaps in contrast to other economies in Europe, reports S&P Global. Read more
CNBC: Big banks take baby steps toward commercializing blockchain
A few years back, blockchain was the talk of the financial services industry. Several large banks were testing the technology, lured by the promise of improving some of the sector’s oldest processes. This year, investors could be forgiven for wondering where blockchain went. After much hype in 2017, as the value of cryptocurrencies like bitcoin skyrocketed, lenders aren’t as vocal about new blockchain pilots as they were back then. But that doesn’t mean they’ve stopped investing in the technology, CNBC writes. Read more Euractiv: Michel: G20 must move on debt restructuring programme European Council President Charles Michel on Friday (20 November) called on G20 leaders to create “a new model of sustainable finance” to avoid sovereign defaults in the wake of the COVID-19 crisis. “In our opinion it is not enough,” Michel said of the G20’s Debt Service Suspension Initiative, which has suspended debt repayments between governments, ahead of this weekend’s G20 leaders’ summit, Euractiv writes. Read more |
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Join and register for free Banking Essentials Webinar: SME FINANCE IN THE 2020s Powering up the economy engines ONLINE/ Tuesday, 24 November, 15:30 CET 
Small and medium-sized companies, especially those in services, are essential to create the new sustainable and digital jobs required to fuel the economic recovery from the Covid-19 pandemic. SMEs are the backbone of Europe’s economy, representing 99% of all businesses in the EU and employing around 100 million people. They account for more than half of Europe’s GDP and play a key role in adding value in every sector of the economy. Encouraging growth in SMEs can deliver the innovation required for a successful twin transition to a sustainable and digital economy. Read more |
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MAIN EVENTS today -
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IBFed Financial Crime WG virtual meeting -
EBF BSC-Banking Union Section virtual meeting -
EBF/DG TAXUD virtual meeting on Withholding Tax procedures -
EBF ESG Task Force virtual meeting
For more events check the EBF planning calendar HERE
*All events take place in Brussels unless stated otherwise
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FROM THE EBF MEMBERS
LBA: Banking Ordinance amendment for financial services after Brexit
The Liechtenstein Bankers Association (LBA) recaps how the government will amend a Banking Ordinance to take further preparatory action to prepare for the withdrawal of the UK from the EEA internal market in the field of investment services and activities. UK banks and investment firms can continue to provide services in the Principality, for eligible counterparties or professional clients if notified to the FMA. Read more
FFI: Responsible investing has become mainstream
Finance Finland's (FFI) member companies talk about responsibility in the financial sector. FIM/S-Bank discussed how responsible investing has become mainstream. Companies with adverse climate impact are faced with ever-tightening regulation, and their appeal to investors will likely plummet. Companies with climate-friendly products and services may see the opposite scenario, because regulation will favour them, and the money will follow. Read more
HUB: Managing personal finances in a time of pandemic
The Croatian Banking Association (HUB), in cooperation with partners, launched an informative and educational campaign "Knowledge to financial recovery." The aim of this campaign is to provide individual counselling to citizens with financial difficulties. Read more (HR)
Finance Norway: Car insurance fraud on the rise Car fraud is at its peak this year. Just over 40% of the revealed fraud cases in the non-life insurance area concern fraud with car insurance, figures from Finance Norway show. Read more (NO) |
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FROM THE INSTITUTIONS
ECB: Economic outlook, monetary policy and uncertainty
President Christine Lagarde spoke before the European Parliament’s Committee on Economic and Monetary Affairs and answered questions from its members. Read more EBA: Thematic note on moratoria and public guarantees EBA published a first assessment of the use of Covid-19 moratoria and public guarantees across the EU banking sector. It finds that Covid-19 related moratoria and public guarantees provided breathing space to borrowers and allowed banks to provide new lending to many companies impacted by the crisis. Read more ESMA: Future challenges for fund managers Verena Ross, Executive Director of the ESMA, has given at the AIMA Global Policy & Regulatory Forum, a keynote address on future challenges for fund managers including Brexit as well as ESG. Read more European Commission: Environmentally sustainable activities criteria The European Commission has launched a public consultation on the first two sets of criteria for determining which economic activities can qualify as environmentally sustainable, under the EU's Taxonomy. As part of the Taxonomy Regulation, the Commission was tasked with coming forward with technical screening criteria (through ‘delegated acts') to develop the taxonomy further. The public consultation will run for four weeks. Read more
FSB: Reforming major interest rate benchmarks
FSB published a progress report on implementation of reforms to major interest rate benchmarks. The roadmap sets out a timetable of actions for financial and non-financial sector firms to take in order to ensure a smooth LIBOR transition by end-2021. 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
Banks stand by their customers in the second wave of Covid-19
European banks stand ready to keep up their support for businesses and households amid growing uncertainty around the speed and strength of the recovery. While it is too early to assess the full impact of the second ongoing wave of Covid-19 on the economy, it is clear that extraordinary support will still be needed in the next months to help the European economy to regain its full strength. The EBF Board members met on Friday by video conference. They reviewed recent actions taken by banks, supervisors and regulators and renewed their commitment to continuing playing a constructive role in the crisis. Read more |
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FT Global Banking Summit Rebuilding, Redefining and Repositioning for Growth Digital Conference, 1- 3 December, 2020
2020 is proving to be a year of unprecedented uncertainty in the banking world. All projections and strategies have been thrown into chaos by the global pandemic, and it will be some time before the full impact can be estimated. The Financial Times’ landmark Global Banking Summit, spanning multiple time zones, provides an unrivalled platform for dialogue between banking and finance leaders, incumbents and challengers, regulatory organisations and technology partners to evaluate the industry’s response to the crisis and to develop key plans and priorities for 2021 and beyond. Speakers will include notable figures from the finance world, with keynote and panel contributions from senior banking executives, national and international regulators, and eminent thought leaders. 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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