FROM THE MEDIA

AP: Swiss Reject Nationalist Plan To Limit Jobs For EU Citizens

Voters in Switzerland on Sunday strongly defeated a nationalist party’s proposal to limit the number of European Union citizens allowed to live and work in their country. Swiss public broadcaster SRF reported that the measure was rejected by 61.7% of voters, with 38.3% in favor. All but four of the country’s 26 cantons, or states, likewise opposed the plan —- proposed by the Swiss People’s Party — to give preferential access to jobs, social protection and benefits to people from Switzerland over those from the 27-nation bloc that surrounds it. Read more NZZ SRF Von Der Leyen statement

Guardian: Confidence in UK's global role plunges after Brexit, poll finds

Belief that Britain is a force for good in the world has plunged in the last 18 months, a national Ipsos Mori poll has found, with under half of the UK now convinced of the country’s positive impact, reports The Guardian. Just under half of Britons (49%) believe that Britain is a force for good in the world, down 10 points from April 2019. While 41% of Britons say the UK should punch above its weight in world affairs, the proportion who believe Britain should stop pretending it is an important power is up five points from last year to 38%. Read more BBC Brexit update

E&T: Is jargon holding back the adoption of financial technology?

‘Fintech’ may have become a mainstream concept, but the Covid-19 pandemic has shown how much potential exists for it to be used outside of traditional banking services if industry can persuade potential customers, writes. Engineering and Technology. Read more

COMING UP THIS THURSDAY: EBF High-Level Public Dialogue

EUROPEAN BANKING BEYOND THE PANDEMIC

The EBF High-Level Public Dialogue seeks to outline how European banking will look like beyond the pandemic by bringing together leading industry representatives with top supervisors and regulators. For more information and registration click HERE

MAIN EVENTS today

European Commission: Round 9 of the Brexit negotiations, five-day meeting

ECON: Monetary Dialogue with ECB President Lagarde. Agenda

Council of the EU: Working Party on the United Kingdom

Council of the EU: Working Party on Financial Services

For more events check the EBF planning calendar HERE

*All events take place in Brussels unless stated otherwise

FROM THE EBF MEMBERS

UK Finance: 2020 Half year fraud report

£853 million of fraud losses has been prevented by the banking industry in the first half of 2020 while unauthorised fraud fell by eight per cent to £374.3 million, UK Finance figures show. Read more

NVB: Managing climate and environmental risks with care

The Dutch Banking Association (NVB) agrees with the European Central Bank that institutions should carefully manage climate and environmental risks within the current prudential framework. This is stated by the NVB in its response to the latest ECB consultation on this subject. Read more (NL)

SBA: Distributed Ledger Technology: Switzerland as a pioneer

Parliament has also made Switzerland a global block-chain leader at the legislative level. Adrian Schatzmann explains the opportunities offered by the bill on behalf of the Swiss Bankers Association (SBA). Read more (DE)

FROM THE INSTITUTIONS

European Council: Appointment of the ECB Executive Board

The term of the European Central Bank's executive board member, Yves Mersch, will end on 14 December 2020. The European Council will appoint a new member on a recommendation from the Council and after having consulted the European Parliament and the ECB. At the Eurogroup meeting of 11 September, President Donohoe asked euro area members to put forward candidates for Mr Mersch's replacement. Two candidates emerged as a contender: 1) the Netherlands proposed Frank Elderson, Executive Director of Supervision of the Netherlands Bank; 2) Slovenia proposed Boštjan Jazbec, Director of Resolution Planning and Decisions, at the Single Resolution Board. Read more

EBA launches EU-wide transparency exercise

The European Banking Authority (EBA) launched its 7th annual EU-wide transparency exercise, with the objective of providing market participants with updated information on the financial conditions of EU banks as of June 2020, thus assessing the preliminary impact of the Covid-19 crisis on the sector. The EBA expects to publish the results of this exercise at the beginning of December, along with the Risk Assessment Report. Read more

ESMA reports a decrease in prospectus activity for 2019

The European Securities and Markets Authority (ESMA), in its Annual Report on prospectus activity, that in 2019 the number of prospectus approvals across the European Economic Area (EEA) decreased to 3,113 from 3,390 a fall of 8% compared to 2018. This decrease continues the downward trend observed since the 2008 financial crisis. 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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Join us and interact with European and international experts, policymakers and stakeholders: How can European banks remain competitive in the EU and globally? What can regulators, supervisors and industry do together to foster innovation, security and resilience in financial services? What lies in the way from agile and cybersecure banks to an innovative and resilient financial ecosystem?

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FROM THE EUROPEAN BANKING FEDERATION

EU digital finance package is major step forward

The EBF shares the Commission’s ambition that Europe should drive digital finance with strong European market players in the lead. The EU financial sector should embrace all the opportunities brought by digitalisation. The benefits of digital finance should be available to European consumers and businesses and Europe should promote digital finance based on European values and a sound regulation of risks. Read more

CMU: EBF salutes the EU Commission’s ambitious CMU Action plan

The EBF strongly supports the need for a truly functioning European Capital Markets Union to help people and businesses recover from the dire effects of the Covid-19 pandemic. Efficient capital markets will offer investment opportunities for investors and contribute to funding their long term needs, such as effective retirement plans for workers and households. Liquid capital markets are a prerequisite to ensure high level of funding to corporates, in particular to SMEs. 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.

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European Banking Federation