EBF MORNING BRIEF Monday 26 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
Reuters: ECB to cut subsidy to banks as rate hikes leave it on the hook
The European Central Bank (ECB) is studying ways of cutting a subsidy to banks that stand to cost the ECB tens of billions of euros in interest, four sources told Reuters, in a move that is likely to attract a backlash from lenders. The ECB might also change the terms of TLTRO loans, although this would potentially damage the credibility of future programs and invite legal challenges. Read more
ING Think: European central banks adjust their liquidity settings
The Swiss National Bank’s decision to introduce bank reserve tiering sheds light on similar potential decisions at the Bank of England and European Central Bank. Central banks have to balance monetary policy transmission, interest costs, and incentive structures for banks, ING Think writes. Read more
Finextra: UK launches fraud and money laundering crackdown
The UK government has announced plans to roll out reforms to protect the economy from fraud and money laundering. As reported by Finextra, the new regulation will require more transparency from businesses forming limited partnerships, and simplify registration processes for reliable companies to protect small business owners and consumers from falling prey to fraud and money laundering. Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
Finance Norway: Increased interest rates reduce the need for regulation of mortgages
With rising interest rates, loan demand may be dampened and normalized. Then the responsibility for lending practices should be fully returned to the banks, writes Finance Norway in a column in Dagens Næringsliv. Read more (NO)
BdB: Economic Outlook - How strong will the downturn be?
The new episode of the podcast "Bank Secret" by the Association of German Banks (BdB) is dedicated to the current economic outlook. In this episode, they discussed with Holger Schmieding, chief economist at Berenberg, the challenges for the German economy and what the chances are for an economic recovery in the coming year. Read more (DE)
UK Finance: Response to the chancellor's Growth Plan
Responding to the chancellor's Growth Plan, David Postings, Chief Executive of UK Finance, said: 'The measures announced are the start of what is needed to unleash the sector’s full strength to deliver economic growth up and down the country. Further tax changes and ambitious regulatory reform are required to capitalize on this bold first move'. Read more |
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FROM THE INSTITUTIONS ESMA: Final guidelines on MiFID II suitability requirements The European Securities and Markets Authority (ESMA) has published its Final Report on Guidelines on certain aspects of the MiFID II suitability requirements. The assessment of suitability is one of the most important requirements for investor protection in the MiFID framework. Read more
EBA: Launch of 2022 EU-wide transparency exercise
The European Banking Authority (EBA) launched its annual EU-wide transparency exercise, as part of its efforts to monitor risks and vulnerabilities and to reinforce market discipline. As in the past, the exercise is exclusively based on supervisory reporting data, which will keep the burden for the banks to a minimum. Results are expected to be published at the beginning of December. Read more ECB: Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates) The European Central Bank (ECB) has published the decisions taken by the Governing Council, including those on Market infrastructure and payments and the 2022 review of the foreign reserve management guideline. Read more |
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FROM THE EBF
Joint letter for safeguarding the proper functioning of the EU ETS
The European Banking Federation (EBF) co-signed a joint industry letter to the Czech Presidency of the Council of the European Union, the European Commission, and the European Parliament, calling for the proper functioning of the EU Emissions Trading System (EU ETS) to be safeguarded. Read more
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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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This newsletter is published by the EBF Mediacentre.
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