| EBF MORNING BRIEF Thursday 22 April 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.
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FROM THE MEDIA
Bloomberg: Citi, UBS among 40 global banks in Carney’s Climate Action pledge More than 40 global banks have signed a pledge to cut pollution from their portfolios and reach net zero emissions by 2050. The Glasgow Financial Alliance for Net Zero brings together several new and existing climate finance pacts involving a total of 160 companies responsible for $70 trillion in assets. “If we are to green the world’s economy, we need a truly global effort -- banks, companies, governments, regulators and civil society working together at pace,” said Ana Botin, executive chairman of Banco Santander SA and president of the European Banking Federation, according to a statement. Read more (€) FT: The eurozone is taking the lead in testing the digital currency waters Public consultation by the European Central Bank is one step ahead of counterparts but it may face a more sceptical audience, writes FT's Martin Sandbu. Last week the European Central Bank published the responses to a completed public consultation, itself the follow-up to a concept paper its task force published in October. Fabio Panetta, a member of its executive board, attended a hearing in the European Parliament. This puts the ECB a step ahead of its major counterparts in engaging the public. Read more (€) Euromoney: EU notifies prospective primary dealers of its requirements The European Commission has released preliminary details of how it will borrow up to €800 billion for the NextGenerationEU (NGEU) recovery facility through a diversified programme of medium- and long-term bond syndications and bill auctions through a yet-to-be-chosen electronic platform. It will use a network of primary dealers. The European Union will soon be sending out full terms and conditions to prospective members of this group. Read more |
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MAIN EVENTS today For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS
NVB: Towards a public digital euro?
There is a broad debate ongoing at national and European level regarding a central bank digital currency, or CBDC. The Dutch Banking Association (NVB) in principle takes a positive stance in this debate. But the debate is still at a very early stage, and there are various aims and ambitions for a potential publicly available digital euro. Read more (NL)
CBA Survey: Czechs and Housing Financing 2021
Last year was a record in terms of the volume of mortgage loans and the beginning of 2021 is promising. The interest in mortgages was also confirmed by a survey by the Czech Banking Association (CBA). According to this, 16% of Czechs currently have a mortgage and 13% plan to do so. Read more (CE)
Bankenverband: Christian Sewing elected new president of the banking association
The Board of the Association of the German Banks (Bankenverband) elected Christian Sewing as its new President. The CEO of Deutsche Bank will take over the office on 1 July 2021 from Hans-Walter Peters, who has led the Bankenverband with a brief interruption since April 2016. Read more (DE) |
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FROM THE INSTITUTIONS
Sustainable Finance and EU Taxonomy: Commission takes further steps to channel money towards sustainable activities
The European Commission has adopted an ambitious and comprehensive package of measures to help improve the flow of money towards sustainable activities across the European Union. By enabling investors to re-orient investments towards more sustainable technologies and businesses, those measures will be instrumental in making Europe climate neutral by 2050. They will make the EU a global leader in setting standards for sustainable finance. Read more
Europe fit for the Digital Age: Commission proposes new rules and actions for excellence and trust in Artificial Intelligence The Commission proposes new rules and actions aiming to turn Europe into the global hub for trustworthy Artificial Intelligence (AI). The combination of the first-ever legal framework on AI and a new Coordinated Plan with Member States will guarantee the safety and fundamental rights of people and businesses, while strengthening AI uptake, investment and innovation across the EU. New rules on Machinery will complement this approach by adapting safety rules to increase users' trust in the new, versatile generation of products. Read more
SRB responses to the European Commission targeted consultation on the review of the crisis management and deposit insurance framework The Single Resolution Board responded to the European Commission targeted consultation on the review of the bank crisis management and deposit insurance (CMDI) framework. Read more |
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FROM THE EUROPEAN BANKING FEDERATION
Hungary, Ireland, and Slovakia took the podium in the European finals
13-15-year-old students from secondary schools across Europe this week had their financial literacy challenged in the European Money Quiz’s Final, an online competition hosted by the European Banking Federation that brought to an end this year’s quiz season. The European Money Quiz attracted nearly 50 000 students this year via the Kahoot platform. The quiz was launched in 2017 as an initiative to promote financial education by national banking associations in Europe, under coordination by the European Banking Federation. Read more |
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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 |
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