EBF MORNING BRIEF Thursday 28 September 2023 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: German banks slam higher reserve requirements as tax on deposits
As reported by Bloomberg, the Association of German Banks pushed back against the prospect of an increase in the amount of money that lenders must park at the European Central Bank (ECB). The step would dent earnings, constraining banks’ ability to pay higher interest to savers and their capacity to lend. Read more
Reuters: BoE delays final Basel bank capital rules to July 2025
The Bank of England (BoE) said it would delay by six months to July 2025 its rollout of the final leg of international bank capital rules that began after the global financial crisis over a decade ago. According to Reuters, the BoE would give firms more time to get ready, and it intends to cut the transitional period for full implementation to 4.5 years to ensure full implementation by 1 January 2030. Read more
Finextra: BIS calls to modernize legal frameworks to support CBDCs
Agustin Carstens, general manager at Bank for International Settlements (BIS) has called on countries to modernize their existing legal frameworks in a way that ensures legitimacy, privacy, integrity, and choice for central bank digital currencies (CBDCs). "International coordination and cooperation are critical," he says as heard by Finextra. Read more |
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MAIN EVENTS
Thursday 28 September
Council Working Party on Tax Questions (Direct Taxation) Council Horizontal Working Party on Cyber Issues ENISA Cybersecurity Market Analysis Conference Friday 29 September |
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FROM EBF MEMBERS
Finance Norway: Women in Finance Charter
The Women in Finance Charter, of which Finance Norway is part, presented its second annual report. The work is entering a new phase, where the focus will be on facilitating the sharing of knowledge and experience among companies as well as collaboration on goal achievement. Read more (NO)
FBF: Interview with Nicolas Namias
Nicolas Namias, President of the French Banking Federation (FBF) sat down with Les Echos to present his vision for French banks and review the challenges of the profession in the current economic context. Read more (FR)
UK Finance: Enhancing the UK’s position in the international commodities markets
The Terminal Markets Order (TMO) provides a valuable legislative simplification, which aids the smooth operation of the commodities markets and provides an important anti-VAT fraud measure. UK Finance responded to the Consultation on TMO Legislative Reform. Read more |
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FROM THE INSTITUTIONS
ECB: Opinion on Executive Board member
The Governing Council of the European Central Bank (ECB) has no objection to the proposed candidate, Piero Cipollone. If also approved by the European Parliament, Mr Cipollone will be appointed by the European Council. Read more
ESAs: Report on the landscape of ICT third-party providers in the EU
The three European Supervisory Authorities (ESAs) have published an indicative overview of information and communication technology (ICT) third-party providers (TTP) as part of their preparations for the Digital Operational Resilience Act (DORA). Read more
BIS: CBDC and the operational framework of monetary policy
The Bank for International Settlements (BIS) analyzes the impact of a central bank-issued digital currency (CBDC) on the operational framework of monetary policy. The study predicts that CBDC adoption implies a roughly equivalent reduction in banks' deposit funding with "deposit crunch" having a modest effect on lending. Read more |
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FROM THE EBF
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.
For questions or suggestions contact v.barbieri@ebf.eu
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