FROM THE MEDIA
 

FT: Largest economies forecast to regain pre-Covid levels by end of year

The world’s largest economies on both sides of the Atlantic have a good chance of recovering the lost ground caused by the coronavirus pandemic by the end of the year, much faster than economists had previously feared. According to FT, economists have revised up their forecasts for US and eurozone economic performance after data this week showed both economies displaying more resilience than had been expected.  Read more (€)

VoxEU/CEPR: Bank runs and central bank digital currency

One of the concerns in the debate on central bank digital currency is whether the ability for depositors to hold an account at the central bank could trigger a run on the banking system. This column looks back to the French Great Depression of 1930-1931, when savers had a safe alternative to banks in the form of government-backed savings institutions, and shows that the existence of safe deposits other than banks can play a substantial role in triggering bank runs. VoxEU/CEPR study also provides insights into two elements of the current discussion: ceilings on safe deposits and interest rates. Read more

S&P Global: Amsterdam tops green finance ranking but US, APAC on the rise

Amsterdam has displaced Zurich as the world's leading green finance center but U.S. and Asia-Pacific centers are starting to catch up, new research by U.K.-based think tank Z/Yen shows. Z/Yen's global green finance index — which surveys bankers, insurers, investors and traders, among others — takes into account factors such as infrastructure, carbon emissions, laws and public policy to compile its ranking, S&P Global reports. Read more

MAIN EVENTS today

• Council Working Party on Financial ServicesBundesbank ‘Digital document management at central banks’ event

• Bundesbank ‘Macroprudential surveillance’ event

• EIB and the Central Bank of Malta ‘Investment in the post-COVID-19 era, digitalisation and climate change’ webinar

• EBF Hedge Accounting Working Group virtual meeting

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

FROM THE EBF MEMBERS

FROM THE INSTITUTIONS

SRB: New guidance on liquidity and funding in resolution

The Single Resolution Board (SRB) issued new guidance on liquidity and funding in resolution. Banks are likely to face liquidity stress in resolution because of the reluctance of market participants to roll over or provide funding to a bank in crisis. Despite that, banks must continue to meet their obligations as they fall due during the different resolution phases. Read more

ECB: Irene Heemskerk appointed Head of the climate change centre

The Executive Board of the European Central Bank (ECB) has appointed Irene Heemskerk as head of the ECB’s climate change centre as of 15 June 2021. “Irene Heemskerk brings the experience, knowledge and enthusiasm required to lead the climate change centre’s work and strengthen the ECB’s role in the fight against climate change", said ECB President Christine Lagarde. Read more

Eurostat: GDP down by 0.6% in the euro area and by 0.4%

Eurostat has published its preliminary flash estimate for the first quarter of 2021. GDP is down by 0.6% in the euro area and by 0.4% in the EU compared to the previous quarter. Meanwhile, compared to Q1 2020, it has declined -1.8% and -1.7% respectively. 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

FROM THE EUROPEAN BANKING FEDERATION

European Commission Referral Scheme Consultation: EBF response

The EBF has responded to the European Commission’s consultation on a potential referral scheme. Have a look at the EBF web post and see our recommendations. Read more

ESMA consultation on Appropriateness Guidelines Under MIFID II: EBF response

The EBF welcomes ESMA’s effort to give guidelines on how to best apply the appropriateness test requirements. Have a look at the EBF web post and see our response. Read more

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