EBF MORNING BRIEF Monday 28 February 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.
Recommend the EBF newsletters to a colleague. Click here to sign up!
|
|
|
FROM THE MEDIA Bloomberg: EU bans transactions with Russia Central Bank European Union approved banning all transactions with the Russian central bank. The decision to penalize Russia’s central bank and exclude some Russian banks from the SWIFT system was announced in a joint statement by the US, the European Commission, France, Germany, Italy, the UK, and Canada. The move is aimed at Russian banks that have already been sanctioned by the international community, but can be expanded to other Russian financial institutions if necessary, Bloomberg reports. Read more
FT: How central bank sanctions could hobble Russia
The measures announced take direct aim at Russia’s central bank and seek to hobble the country’s connectivity to the global financial system. According to the Financial Times (FT), lacking access to the reserves to guard against the rouble’s collapse, the central bank would be left with only two clear options: raising interest rates, and capital controls. Read more
Reuters: European shares recoup some losses ahead of new sanctions
European and US bank shares on Friday clawed back some of the previous day's steep losses as the sector started to get to grips with a slew of sanctions. After early losses, leading European banks later edged up, with a European banking sector index 4.27% higher by mid-afternoon, Reuters writes. Read more |
|
MAIN EVENTS Council Working party on Tax Questions (High Level)
For a full-year overview of key financial regulation events: click here
|
|
FROM THE EBF MEMBERS LBA: Ukraine aid also attracts scammers The Centre of Excellence on Money Laundering warns that the current geopolitical situation can be exploited by financial fraudsters. They may call for donations to Ukraine on social media under the guise of fictitious aid funds, but the money transferred may end up in their accounts, says the Lithuanian Banking Association (LBA). To avoid this, it is advisable to be vigilant look out for a few signs to ensure their trustworthiness. Read more (LT)
NVB: Dutch banks implement European sanctions
As reported by the Dutch Banking Association (NVB), Dutch banks are implementing the sanctions published by the European Union in response to the situation in Ukraine. Banks will need to be alert at all times to sanction circumvention from Russia; good information from the government on these matters is essential. Read more (NL)
Finance Finland: The EBF and Finance Finland condemn Russia's attack on Ukraine
The European Banking Federation (EBF) and Finance Finland, a member of EBF, strongly condemn Russia's aggression in Ukraine. "Russia's invasion of Ukraine is shocking and unacceptable. Finland and the EU must show unity in their decisions", says Esko Kivisaari, Finance Finland's Executive Vice President. Read more (FI) |
|
FROM THE INSTITUTIONS ECB: Statement on Ukraine Christine Lagarde, President of the European Central Bank (ECB) issued a statement on Ukraine. "The ECB will implement the sanctions decided by the EU and the European governments", she said. Read more EBA: Response to ESRB recommendation on identifying legal entities The European Banking Authority (EBA) published its report on the implementation of the European Systemic Risk Board (ESRB) Recommendation on identifying legal entities. The report provides information on the substance, such as the legal form of the measure and the type of financial institutions covered, as well as on the timing of the actions taken by the EBA in relation to the implementation of the Recommendation. Read more
BIS: Old risks, new challenges, same objective
Pablo Hernández de Cos, Chair of the Basel Committee on Banking Supervision and Governor of the Bank of Spain, reiterated the Committee's four focal points in a speech at the Eurofi High-Level Seminar, published by the Bank for International Settlements (BIS). He warns of a bumpy, uncertain transition from pandemic to endemic. Read more |
|
FROM THE EBF
The EBF on the latest developments in the legislative process of the proposal for a corporate sustainability reporting directive
The EBF reiterates its support for the proposal for the Corporate Sustainability Reporting Directive, which will be a key enabler in ensuring financial institutions are able to assess the sustainability profile of their portfolios and allocate capital effectively to serve the goals of the European Green Deal. Read more
EBF Vacancies: Work with us!
Visit our Vacancies page to learn more about the opening positions at the EBF. Read more |
|
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 |
|
|
This newsletter is published by the EBF Mediacentre. If you do not want to receive the EBF Morning Brief click here.
For questions or suggestions contact v.barbieri@ebf.eu
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium |
|
|
|
