EBF MORNING BRIEF Thursday 24 November 2022 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 FT: The state might be encroaching too far on European banks Governments should note: strong lenders make a strong economy. This is the key argument of an opinion by the managing partner and head of research at Axiom Alternative Investments published by the Financial Times (FT). Banks should be free to contract or expand their balance sheet depending on their perceptions of the economy. Read more
Reuters: Bundesbank warns banks against 'careless' payout pledges
German banks should avoid making multi-year promises to their shareholders despite bumper profits this year as the outlook for the economy is worsening, Bundesbank board member Joachim Wuermeling told Reuters. He joined other European Central Bank (ECB) supervisors in telling lenders to preserve capital. Read more
S&P Global Market Intelligence: US, European investment banks to slash jobs, pay as revenue plummets
US and European investment banks are planning to shed jobs and cut bonuses in their advisory and underwriting teams amid slumping revenues since the start of 2022. All but one of the investment banks sampled reported drops in advisory and underwriting revenues compared to a year ago, S&P Global Market Intelligence analysis shows. Read more |
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MAIN EVENTS Thursday 24 November Deutsche Bundesbank term structure workshop EBF and Deloitte Luxembourg ‘Banking 2030’ joint workshop Friday 25 November Council Horizontal Working Party on Cyber Issues For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS NVB: Targeted risk-based money laundering approach De Nederlandsche Bank (DNB) and other banks have committed to work on elaborating a number of subjects to create a more targeted risk-based approach to money laundering. Recently, the parties involved have come together to kick off a series of round table discussions, the Dutch Banking Association (NVB) reports. Read more (NL)
LBA: Climate-friendly NFTs as part of the Roadmap 2025
The Liechtenstein Bankers Association (LBA) announced the launch of its climate-positive NFT on the Roadmap 2025. All employees have been given the opportunity to receive an NFT. The opportunity is now open to all interested parties. Read more (DE)
Finance Norway: Market statistics for the 3rd quarter of 2022
The payments to the life insurance and pension companies amount to NOK 104 billion, approximately unchanged from the corresponding period last year, according to Finance Norway's quarterly market statistics. Read more (NO) |
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FROM THE INSTITUTIONS ECB: Financial stability and macroprudential regulation under diagnostic expectations Recent empirical findings have vindicated the view that systemic risk in financial markets is also influenced by cognitive misperceptions about future economic developments in addition to being influenced by financial frictions. This is what Antoine Camous and Alejandro Van der Ghote write in a research published by the European Central Bank (ECB). Read more
BIS: Inflation risk and the labor market
After the Great Financial Crisis, the labor market's influence on inflation decreased, mainly due to the anchoring of expectations and workers' reduced bargaining power. This paper by the Bank for International Settlements (BIS) studies whether perceived inflation risk, as gauged from inflation options, was more attuned to employment conditions. Read more
EC: Sustainable Finance: Draft sustainability reporting standards
The European Commission (EC) welcomes the timely submission of draft sustainability reporting standards from EFRAG. Once adopted, companies subject to the Corporate Sustainability Reporting Directive (CSRD) will use these reporting standards. Read more |
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FROM THE EBF
Christian Sewing appointed as new EBF President
The European Banking Federation takes great pride in announcing Christian Sewing, Chief Executive Officer at Deutsche Bank as its next President. He will succeed Ana Botín, Group Executive Chair at Banco Santander SA, who will conclude her two-year term in February next year. Read more
EBF Board highlights: Powering sustainable growth in Europe
Stark economic predictions of the past few months have become a reality, with inflation continuing to climb and forecasted to increase by 9.3% this year in the EU. European industry and individuals are facing an energy crisis and cost-of-living pressures, as the bloc’s leaders work to stay the course on delivering its strategic objective of sustainable transition. In this uncertain world, the banking sector is a key source of resilience. Read more
EBF: Eelco Dubbeling, Managing Director of NVB appointed the new Chair of the EBF Executive Committee
The European Banking Federation (EBF) is thrilled to announce Eelco Dubbeling, Managing Director of the Dutch Banking Association (NVB), as the new Chair of the EBF’s Executive Committee for a two-year term, starting from January 1st, 2023. Read more
New EBF Vacancies! Work with us!
Visit our Vacancies page to learn more about the opening positions at the EBF. 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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This newsletter is published by the EBF Mediacentre.
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