EBF MORNING BRIEF Thursday 9 February 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 FT: ECB piles pressure on banks to exit Russia Andrea Enria, chair of supervision at the European Central Bank (ECB) said the ECB is putting pressure on eurozone banks to cut their Russian exposures even as the window to sell these assets was narrowing after the Kremlin turned “more hostile” to such moves. As reported by the Financial Times (FT), many western banks with subsidiaries in Russia have sought to leave the country, but only a few have done so, often at a steep cost. Read more
Bloomberg: ECB’s supervisor gives seal of approval to payout plans
Europe’s top banking regulator said the industry’s plans for rewarding shareholders aren’t excessive after some lenders dialed back payouts. “The distribution plans are sustainable from our perspective,” Andrea Enria, top oversight official at the European Central Bank (ECB) said in a Bloomberg interview. Read more
Reuters: ECB to zero in on soured loans this year as economy slows
European Central Bank (ECB) supervisors will zero in on bad loans this year after finding that some eurozone banks had set too little money aside for them or were slow in recognizing the problem, ECB says. According to Reuters, the ECB found "persisting risk control deficiencies" in how banks classify loans that are at risk of going unpaid. Read more |
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MAIN EVENTS Thursday 9 February Friday 10 February
For a full-year overview of key financial regulation events: click here |
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EBF Digital Thursdays The Advent of DORA: What changes will the next 24 months bring? Thursday 23 February | 3:30 PM CEST | ONLINE
The recently adopted Digital Operational Resilience Act (DORA) signals the introduction of a comprehensive legislative and regulatory framework with cybersecurity and resilience rules applicable to all financial services operators in the EU ecosystem.
At our next Digital Thursday in partnership with Deloitte,
we will bring together banks, regulators, and other cybersecurity experts to discuss how DORA shapes the sector’s cybersecurity landscape and how its requirements can be realistically implemented in practice.
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FROM EBF MEMBERS FBF: Companies, the big losers of the European Data Act The French Banking Federation (FBF) has signed, alongside other professional federations, a column in Les Echos to alert the European authorities on the consequences of the Data Act and “the real impact of their legislation on data”. Read more (FR)
UK Finance: The future of mortgages
Mortgages are integral to the UK’s housing infrastructure, with only 36 percent of homes owned outright. However, as reported by UK Finance, the end-to-end mortgage application process is lengthy, complicated, and error-prone. Read more
NVB: Support for those affected by earthquakes
The Dutch Banking Association (NVB) is deeply touched by the suffering caused by the earthquakes in Turkey and Syria. Dutch banks express their condolences and support to everyone affected by this. Read more (NL) |
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FROM THE INSTITUTIONS EBA: Consultation on the amending ITS on supervisory disclosures The European Banking Authority (EBA) launched a public consultation on its draft Implementing Technical Standards (ITS) on supervisory disclosures. The amended draft ITS incorporates the changes to the EU legal framework, in particular those related to supervisory reporting and investment firms. Read more
EC: Announcement of chair and members for the new mandate of the Platform on Sustainable Finance
The European Commission (EC) published the list of members for the new mandate of the Platform on Sustainable Finance. The Platform will advise the Commission on the EU Taxonomy and the EU sustainable finance framework, with a focus on usability. Read more
ESMA: Report finds EU MMF industry at close to €1.5tn
The European Securities and Markets Authority (ESMA) published its inaugural market report on EU Money Market Funds (MMF). With this report, ESMA provides for the first time a comprehensive market-level view of EU MMFs, based on supervisory information collected by National Competent Authorities (NCAs) and ESMA. Read more |
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FROM THE EBF EBF: Position on Proposal for Instant Payment Regulation The European Banking Federation (EBF) has published its position on the Commission’s proposal for Instant Payments Regulation. The EBF position highlights that a balanced and proportionate legal framework that will support the market on the continued roll-out and development of instant payments in Europe is needed. 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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