FROM THE MEDIA

PYMNTS.com: EU pilot regime to trade tokenized securities enjoys regulatory tailwinds 

The European Parliament, the European Securities and Markets Authority (ESMA) and the industry are backing the efforts of the EU to create a pilot regime for financial market infrastructures based on distributed ledger technology (DLT). This regime will create a testing ground for the use of blockchain technology in the field of financial instruments for three years, PYMNTS.com says. Read more

Bloomberg: ESG investors getting trounced in global credit market rout

The recent credit market selloff has been particularly hard on sustainable debt. In Europe, green corporate bonds have slumped 6.7% so far this year, a Bloomberg index of environmental, social, and governance (ESG) debt shows. ESG bonds started out more expensive, with demand outstripping supply in buzzy debuts from the European Union, and others. With typically longer maturities, they’ve also been hit harder by the prospect of rising interest rates, contrary to the expectations that they’d hold up in volatile global markets. Read more

S&P Global Market Intelligence: Banks face hidden sanctions risk amid complex correspondent banking system

Financial institutions with no Russian exposure still face significant indirect sanctions risk through the so-called correspondent banking services they provide to other banks. According to S&P Global Market Intelligence, banks with no direct exposure to Russia could end up unwittingly facilitating money transfers for sanctioned entities. Read more

MAIN EVENTS

Thursday 14 April

• Concurrences ‘Antitrust in the Financial Sector — The Unchartered Antitrust Waters for Blockchain, AI & Algorithms in the Financial Sector’ webinar

Friday 15 April

• Deadline for submissions on European Banking Authority consultation on draft guidelines on transferability

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

FROM THE EBF MEMBERS

ABBL: Ukrainian refugees: What proof of identity for client onboarding?

With the arrival of Ukrainian refugees in Luxembourg, the question of what identification documents to use for KYC purposes when opening a bank account for these refugees arises. The Luxembourg Banker's Association (ABBL) asked the CSSF if, in the absence of an ID card or passport, the Certificate of Temporary Protection Beneficiary can serve as a valid proof of identity for credit institutions to perform their due diligence. Read more

Finance Finland: Digital Identity Developments

The Finnish government is about to launch a digital ID card that can be downloaded to a smartphone and could be used both as a means of identification for counter transactions and as a secure electronic means of identification. "The benefits of developing a digital identity must be made widely available to both the public and private sectors," says Peter Jansson, Senior Policy Advisor at Finance Finland in support of this idea. Read more (FI)

Finance Latvia: Luminor provides €300 million in funding to companies

In 2021, the Latvian business environment showed positive trends with plans towards development and further growth, with Luminor Bank providing around €300 million to companies last year. Luminor was the first bank in the Baltics to start providing cheaper loans to SMEs during the pandemic with the support of the European Investment Bank (EIB) and this funding is available this year, too. Even in these difficult economic times, the bank's support and lending to entrepreneurs continues, Finance Latvia writes. Read more (LV)

FROM THE INSTITUTIONS

ESAs see recovery stalling amid existing and new risks

The three European Supervisory Authorities (EBA, EIOPA, and ESMA - ESAs) issued their first joint risk assessment report for 2022. The report highlights the increasing vulnerabilities across the financial sector as well as the rise of environmental and cyber risks. Russia’s invasion of Ukraine and its economic consequences have aggravated the outlook for growth and inflation and brought heightened market volatility. Market resilience will critically depend on the ability of markets and financial institutions to deal with the economic consequences of the Russian invasion of Ukraine and to withstand changes in public policy support on the monetary or fiscal side without material disruptions. Read more

BIS: CBDCs - A new tool in the financial inclusion toolkit?

Can central bank digital currencies help serve the unbanked? A number of central banks think so. A paper by the Bank for International Settlements (BIS) explores retail central bank digital currencies (CBDCs) as a tool to help support financial inclusion. The paper aims to facilitate peer learning on key issues around CBDCs and financial inclusion policies faced around the world. Read more

ECB: Opinion on a proposal for a directive on measures for a high common level of cybersecurity across the Union repealing Directive

The European Central Bank (ECB) published an Opinion on a proposal for a directive on measures for a high common level of cybersecurity across the Union repealing the Directive. The ECB strongly supports the objectives of the proposed directive to increase the level of cyber resilience across all relevant sectors, reduce inconsistencies across the internal market and improve the level of situational awareness and the collective capability to prepare and respond by ensuring efficient cooperation in the Union. Read more

FROM THE EBF

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
 

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