| EBF MORNING BRIEF Thursday 6 May 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
Risk.net: For EU banks, there can be no ‘back to normal’
After 14 months of Covid-19 restrictions, “let’s get back to normal” has become a popular refrain among politicians and pundits alike. But when it comes to European banks, recent findings suggest that the pre-pandemic ‘normal’ was not good enough. In fact, the ‘normal’ risk profile of many banks was distorted, obscured, or underestimated to a concerning degree, Louie Woodall from Risk.net writes. Read more Reuters: Portugal's banks must boost capital, cut NPLs despite pressures, Centeno says Portuguese banks must keep increasing their capital and reducing their stock of non-performing loans (NPLs), despite expected pressure from the gradual dismantling of COVID-19 support measures, Bank of Portugal Governor Mario Centeno said on Wednesday, Sergio Goncalves from Reuters writes. Read more
ING Think: Strong TLTRO-III borrowing suggests banks have confidence meeting lending benchmark German, Italian and French banks increased their targeted longer-term refinancing operations (TLTRO) drawings in March and country data suggests most banks have qualified for the favorable TLTRO-rate from June 2020 to June 2021. According to ING Think, the average drawing was the third largest within the 7 tranches allocated to date potentially pointing towards higher participation of smaller and medium-sized banks. Read more |
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MAIN EVENTS
Thursday 6 May
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EBF Extraordinary Executive Committee virtual meeting
Friday 7 May: -
Portuguese Presidency of the Council of the European Union 'Porto Social Summit' -
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Council Working Party on Financial Services
Saturday 8 May: For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS
LBA: Tribelhorn calls for a sustainability strategy in Liechtenstein
Simon Tribelhorn, Managing Director of the Liechtenstein Bankers Association (LBA) believes that Liechtenstein can play a formative role in the transformation toward a sustainable economy by adopting a comprehensive sustainability strategy. As sustainable investments yield high returns and are more crisis-resistant than conventional ones, "banks that are not sustainable will no longer be competitive and disappear from the market in the medium to long term", Tribelhorn argues. Read more (DE)
SBA: A guide to handling data in everyday business life
The trustworthy handling of data is crucial to the success of the financial industry. Against this backdrop, and in the wake of the introduction of the new Data Protection Act, the Swiss Bankers Association (SBA) has published a guide to help banks ensure data protection while benefitting from the opportunities offered by technological developments. Read more (DE)
UK Finance: Purpose and profit - why ESG goals are fundamental to 21st-century banking
The private sector is called to think about how to deliver financial performance while also serving a social purpose. According to UK Finance, Environmental, Social and Governance (ESG) should indeed be a genuine top priority for financial institutions. Consistently, banks have to work out how to measure and report their impact to progress and ensure that goals and targets are met. Read more |
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FROM THE INSTITUTIONS
ECB: How households finance government debt in the euro area
Households finance government debt, and in the euro area this takes place primarily via pension, investment funds and insurance corporations, finds the Economic Bulletin Issue 3, 2021 by the European Central Bank (ECB). Experiences elsewhere show that the role they play could become even more important. Read more
ESMA: Updates of the Q&As on the Prospectus Regulation
The European Securities and Markets Authority (ESMA) has updated its Questions and Answers (Q&As) on the Prospectus Regulation (PR) with three new Q&As. The purpose of the new Q&As is to promote common supervisory approaches and practices in the application of prospectus supervision. In addition, they aim to provide market parties with guidance on how national competent authorities will apply the PR. Read more
BCBS, CPMI and IOSCO survey clients and non-bank intermediaries on margin calls The Basel Committee on Banking Supervision (BCBS), the Committee on Payments and Market Infrastructures (CPMI), and the International Organization of Securities Commissions (IOSCO) invites market participants and non-bank intermediaries to complete a survey on the use of margin calls. Separately, the Committees are collecting data from central counterparties (CCPs) and bank intermediaries as part of an examination into liquidity shortfalls during the early stages of the Covid-19. Read more |
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FROM THE EUROPEAN BANKING FEDERATION
European Commission’s DORA proposal (2020): EBF position
The EBF welcomes the European Commission’s aim to enhance operational resilience in Europe. The financial industry’s own considerations will benefit from more harmonized ICT-related rules at the European level, aligned with the existing supervisory framework today. 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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