FROM THE MEDIA

Bloomberg: Why EU climate weapon is in the financial fine print

The fight against climate change involves more than wind turbines and electric sports cars. A less obvious but potentially potent tool is the fine print of financial regulations. The European Union is embedding environmental goals in standards for banks, money managers, insurers and member states’ public spending plans, in the hope of directing trillions of euros to fund a radical revision of the region’s economy, Bloomberg reports. Skeptics warn that some of the rules are veering too far from initial scientific proposals and could allow for “greenwashing.” There are also still fights ahead over whether natural gas and nuclear power can get green labels. Read more

Cointelegraph: Decentralization is the final frontier for CBDCs

As central bank digital currencies, or CBDCs, continue to garner mainstream traction across the global financial landscape in recent years, almost all central banks are actively researching the benefits and risks of offering a digital currency to the public. According to Cointelegraph, in its most basic sense, a CBDC is a digital form of fiat money, backed by a suitable amount of monetary reserves like gold or foreign currency reserves. Read more

The Banker: Banking apps may pose underlying cyber risks

Some 88% of banking apps possess at least one vulnerability that could be exploited, according to a study by the software company Synopsys, The Banker reports. Read more (€)

MAIN EVENTS today

• Launch of the joint European Commission/OECD-INFE project to develop a financial competence framework in the EU. EBF CEO Wim Mijs speaking

• European Parliament plenary session

• BIS, Bank of England, ECB and IMF ‘Spillovers in a “post-pandemic low-for-long” world’ conference

For a full-year overview of key financial regulation events: click here

FROM THE EBF MEMBERS

Neil Whiley, UK Finance Director, Sanctions Policy, analyzed the first hundred days of the Biden-Harris administration in the US concerning its #sanctions policy. Read more

SBA: Framework Agreement: Continue talks

The Swiss Bankers Association (SBA) continues to advocate for a good framework agreement. The clarifications between Switzerland and the EU must be continued. Read more (DE)

FROM THE INSTITUTIONS

ECB: Results of the ECB Survey of Professional Forecasters in the second quarter of 2021

ECB has published the results of the ECB Survey of Professional Forecasters in the second quarter of 2021. Find a few points as follow: 1) The Harmonised Index of Consumer Prices inflation expectations revised up for 2021 but otherwise largely unchanged; 2) Real GDP growth expectations revised downward in 2021 and upward in 2022, implying a further delay in recovery; 3) Unemployment rate expectations revised downward for 2021-23, with longer-term expectations unchanged. Read more

European Council: "Green finance" - Speech by President Charles Michel at the Leaders’ Climate Summit

The Council of the European Union has published a speech by President Charles Michel at the Leaders’ Climate Summit on green finance. President Michel stated that Europe needs to be more determined in the field of climate finance. He highlighted that the EU budget and recovery package will dedicate around 600 billion euros to powering the green transition. Read more

ECB: US dollar liquidity-providing operations from 1 July 2021

The ECB and other major central banks have decided to discontinue 84-day US dollar liquidity operations. Change will be effective as of 1 July 2021. Depending on market conditions, central banks stand ready to re-adjust provision of US dollar liquidity. Read more

European Commission 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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