EBF MORNING BRIEF Thursday 11 February 2021 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 Reuters: Europe will need fiscal help into 2022: Lagarde Euro zone states must keep fiscal spending up this year and into 2022 to protect the bloc from permanent damage caused by the coronavirus pandemic, European Central Bank President Christine Lagarde said in an online interview with the Economist on Wednesday, writes Reuters. Read more Bloomberg: Europe’s banks had their worst year in a decade Europe’s battered banks, reporting their toughest year in a decade, are signaling that the worst of the pandemic’s damage has passed, Bloomberg reports. Read more S&P Global: ECB has acted over banks’ highly leveraged loan exposures The European Central Bank's top supervisor has said the central bank has clamped down on banks it considers overexposed to the leveraged loan market, resulting in increased capital charges, writes S&P Global. Read more |
|
MAIN EVENTS today and tomorrow Thursday 11 February: Friday 12 February: EBF Single Resolution Mechanism Expert Group virtual meeting EBF Banking and Taxonomy Working Group virtual meeting EBF Reporting & Statistics Working Group virtual meeting EBF Public Affairs Group virtual meeting For a full-year overview of key financial regulation events: click here |
|
|
FROM THE EBF MEMBERS BdB: The consequences of the pandemic for the German banks In an interview with Handelsblatt, the President of the Association of German Banks (BdB) Hans-Walter Peters commented on the consequences of the pandemic for the German banks. A flood of bad loans is unlikely, but long-term consequences of the corona crisis may trigger an accelerated economic structural change over several years. Read more (DE) Finance Norway: In 2020, Norwegians saved 2.5 billion in IPS Finance Norway reports that Norwegians saved more than NOK 2.5 billion in the Individual Pensions Savings (IPS) scheme in 2020, and now have NOK 9.4 billion in their IPS accounts. Women accounted for 44 per cent of savings, which is significantly more than for other long-term savings schemes. Read more (NO) Febelfin: Banks play their full role in granting credit to companies Febelfin reports that the Belgian financial sector is focusing more than ever on supporting the economy and businesses through the further extension of payment deferrals for business loans. The banks' constant efforts to provide credit to businesses are also reflected in the low degree of loan refusal, which remains extremely low. Read more (FR) |
|
FROM THE INSTITUTIONS European Parliament approved the Recovery and Resilience Facility On Wednesday, Parliament approved the Recovery and Resilience Facility, designed to help EU countries tackle the effects of the COVID-19 pandemic. The regulation on the objectives, financing and rules for accessing the Recovery and Resilience Facility (RRF) was adopted with 582 votes in favour, 40 against and 69 abstentions. The RRF is the biggest building block of the €750 billion Next Generation EU recovery package. Read more ECB: The impact of a digital euro on the financial system A digital euro represents a natural evolution in response to this transformation – not only to underpin efficiency and innovation, but also to preserve the role of the central bank in offering safe means of payment. Throughout history, this safety has proven to be crucial in maintaining public confidence in money and, ultimately, in the State. A key goal of a digital euro should therefore be to preserve a fine balance between sovereign and private money to ensure payments remain stable and efficient, Fabio Panetta, Member of the Executive Board of the ECB, said at a Bruegel online seminar. Read more Parliament: MEPs call on ECB to prepare for economic difficulties MEPs express concern at the impending economic downturn, which will require action from the ECB as well as reform and fiscal measures by member states. For its part, the ECB should assess if other policy measures could be used to stimulate the economy, within the confines of its mandate. Deflation in the euro area may also justify a “strong ECB intervention”, MEPs add. Read more ESMA workshop on "CCP margins and procyclicality in times of crisis" ESMA is organising a workshop on CCP margins and procyclicality in times of crisis which will take place on 17 February 2021 from 2:30 to 6:00 PM (Paris time). The workshop will be an opportunity to gather the views of our speakers and shine a light on how the CCP ecosystem worked during the pandemic. It will also allow participants to take stock of lessons learned and discuss possible improvements. 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. For questions or suggestions contact mediacentre@ebf.eu Recommend the EBF newsletters to a colleague. Click here to sign up! European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium |
|
|
|