FROM THE MEDIA

European banks in the news: Barclays, HSBC

In the last weeks, UBS and Credit Suisse have appointed new bosses and another half-a-dozen of Europe’s biggest banks are at various stages of succession searches, says Financial News. At the same time, headhunters say bank boards are looking for a different range of experience from candidates, particularly in terms of understanding non-financial risk, retail customers and digital transformation. Barclays is preparing to start the search for a new chief executive to replace Jes Staley, making it the latest European bank to look for new leadership at a time of upheaval in the industry’s top ranks, says the FT. UniCredit Chief Executive Jean Pierre Mustier has ruled himself out of a switch to European rival HSBC, a source with knowledge of the matter told Reuters. Financial News Barclays (€) HSBC

Reuters: Top bankers addressing shifting sands at Riyadh G20 meeting

Central bankers from the euro zone, United States and Japan meeting in the desert kingdom of Saudi Arabia this weekend in the context of the G20, were faced with global economic dilemma including elusive inflation, says Reuters. The problem facing all three economies is that price growth has long stopped behaving as expected, as aging populations and technological advances prevent inflation from meeting their cherished 2% target despite aggressive stimulus measures. The New York Times reports that the meeting also resulted in a first-time collective warning for the economic threat of climate change. Read more NYT(€) Reuters

FT: Banks risk being caught off-guard by climate change

According to a recent analysis by the consultancy Oliver Wyman, oil and gas companies will be two to three times more likely to default on their debt if the countries signed up to the Paris climate accord institute, reports the FT. The financial services industry was in danger of being caught flat-footed, according to Oliver Wyman. Some banks, such as Natixis and BNP Paribas, have taken steps to make their balance sheets more green, but the industry still had a lot of work to do, according to the report. Read more (€)

MAIN EVENTS today

*All events take place in Brussels unless stated otherwise

FROM THE INSTITUTIONS

ECB: Banking integration in Europe and Sweden

Kerstin af Jochnick, a member of the Supervisory Board at ECB, has given a speech on “Banking integration in Europe and in Sweden” at the Open Forum at the Sveriges Riksbank. According to her, important policy issues for a more resilient and integrated banking sector in Europe include the completion of the banking union, implementation of Basel III, strengthening the AML framework, as well as climate change and green finance. Read more

Council: The movement of capital and the freedom of payments

The Council has published the Commission Staff Working Document on the Movement of Capital and the Freedom of Payments. It reviews global and EU capital flows and related economic developments between 2018 and 2019. It concludes that in 2018 financial account surpluses and deficits have continued worldwide. From an EU perspective, the main development in 2018 has been the fall in the EU’s financial account surplus driven by a relatively broad-based fall in its Member States’ financial accounts’ surpluses. Read more

European Commission calendar for this week

Find out more about the 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 agenda

Find out more about the Parliament's engagements and activities for the upcoming week. Read more

EBF MEMBERS IN THE NEWS

Financial & Digital Literacy in the 2020s 
European Money Week Workshop
Tuesday 24 March, 9:00 am to 13:30 am, EBF Meeting Centre 

To mark the 2020 European Money Week in Brussels the European Banking Federation invites you to join us for a half-day financial education workshop on Tuesday 24 March. Boosting financial literacy has become essential for the well-being of citizens from all ages and social groups, especially in an interconnected society where financial services are delivered digitally. Under the title ‘Financial and Digital Literacy in the 2020s’ we will bring together specialists, innovators as well as representatives of different parts of the economy. The sixth European Money Week begins on Monday 23 March and will see financial education events organized across Europe by national banking associations and the European Banking Federation, as well as national finals of the European Money Quiz across Europe. Read more

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.