EBF MORNING BRIEF Thursday 9 November 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
Reuters: Bank of Spain warns of risks of extending bank windfall tax
Any potential extension of the current Spanish windfall tax on banks should take into account the preservation of financial stability and correct transmission of monetary policy, Bank of Spain Governor Pablo Hernandez de Cos said as heard by Reuters. Read more
CoinDesk: EU banking watchdog seeks feedback on draft liquidity, capital rules for stablecoin issuers The European Banking Authority (EBA) has published draft rules on liquidity and capital requirements for stablecoin issuers in line with the EU's new Markets in Crypto Assets (MiCA) regulation. CoinDesk reports that the guidelines cover a range of requirements, including regular liquidity stress testing for large stablecoin issuers, and capital and liquidity requirements for stablecoin reserve assets. Read more
The Banker: EU banks take a conservative approach to market risk As the EU’s fundamental review of the trading book 2025 implementation deadline nears, banks are adopting a conservative market risk stance under the Basel III framework. According to The Banker, lenders are opting for the standardized approach to calculate their capital requirements, avoiding the more complex and resource-intensive internal model approach, even if the standard approach leads to a higher capital charge. Read more |
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MAIN EVENTS
Thursday 9 November
Friday 10 November
Council Horizontal Working Party on Cyber Issues |
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THE FINANCIAL TIMES Global Banking Summit 2023 27-29 November \ Digital & In-Person |
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| | US-China tensions and banking collapses have placed the world of wealth management under strain. Portfolio managers are seeking respite in alternative allocation strategies. However, whilst private markets are progressively accessible, adoption of digital assets poses regulatory roadblocks.
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FROM EBF MEMBERS Febelfin: Free digital banking information sessions in Wallonia Thanks to a successful collaboration between the Cabinet of Minister Willy Borsus, the Walloon Public Service (SPW), the Digital Agency, TechnofuturTIC, and Febelfin, information sessions will be held in more than 35 Walloon public digital spaces with the aim of improving digital skills between November 2023 and December 2024. Read more
AEB: Access to financial services in rural areas in a year
Alejandra Kindelán, the Spanish Banking Association's (AEB) President, explained the progress made by the banking sector to reinforce financial inclusion throughout Spain. “We are committed to the country's challenges, such as depopulation in rural areas and population aging,” she said. Read more (ES)
Finance Denmark: Draft guidelines on solvency and leverage
Finance Denmark has submitted a consultation response to the Danish Financial Supervisory Authority (FSA). The consultation response suggests that the FSA's guidance on calculating the solvency requirement should, to a much greater extent, be based on the common European guidelines from the European Banking Authority (EBA). Read more (DK) |
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FROM THE INSTITUTIONS
ECB: Banking Supervision’s activities in light of financial developments Banks have proven resilient in the face of external shocks, says European Central Bank (ECB) Supervisory Board Chair Andrea Enria at a Eurogroup meeting. Their improved capital base, asset quality, and profitability make them well-prepared to weather possible economic downturns. Read more
EBA: Draft technical standards on supervisory colleges under MiCAR The European Banking Authority (EBA) launched a consultation on draft Regulatory Technical Standards (RTS) specifying the criteria for determining the composition of supervisory colleges for each issuer of a significant asset-referenced token (ART) or of a significant e-money token (EMT). The draft RTS also specifies the general conditions for the functioning of supervisory colleges under MiCAR. Read more
SRB: Bi-annual reporting note to Eurogroup The Single Resolution Board (SRB) published its bi-annual reporting note to Eurogroup. The note aims to report on SRB’s views on CMDI; the lessons learned from the recent crisis cases and liquidity in resolution; the resolvability progress of SRB banks; progress made on the resolvability of less significant institutions, and SRB Fund activities. Read more |
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FROM THE EBF
ECSAs call for clarity on the application of SCA obligations to payments under eIDAS 2.0
The European Credit Sector Associations (ECSAs) reiterate their concern on the persistent lack of a clear indication on whether the strong customer authentication (SCA) obligations apply to payments or not and in case SCA for payments are in scope, that is limited to ecommerce/online/remote situations. 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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