EBF MORNING BRIEF Tuesday 13 December 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 Reuters: ECB to raise scrutiny of banks' credit risk, funding in 2023 The European Central Bank (ECB) will increase scrutiny over how banks manage credit risk and diversify funding. According to Reuters, the ECB will conduct more targeted reviews of lenders in order to encourage "fair and timely" recognition of expected credit losses via higher provisions. Read more
Bloomberg: New front in ECB’s inflation battle
The opening of a new front in the European Central Bank (ECB)’s fight with inflation will bring with it bargaining over the path for interest rates, resulting in a potentially smaller hike. As reported by Bloomberg, alongside its decision on borrowing costs, the ECB is set to announce how it plans to unwind €5 trillion of bonds purchased during past stimulus pushes, adding more bite to the 200 basis points of rate increases to date. Read more
TheBanker: EU anti-deforestation law considers due diligence obligations for banks
EU institutions came to a final agreement on rules to reduce deforestation, TheBanker reports. The European Commission, Parliament, and Council committed to a review assessing whether existing legislation is sufficient to tackle the role of financial institutions in global deforestation or whether new rules are needed to force the sector to conduct due diligence checks on their activities to verify they are not linked to deforestation. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS NVB: Our Road to Paris In 2022, banks took an important step to boost the climate commitment of the financial sector. The Dutch Banking Association (NVB) spoke with Luke Disney, Lead Paris Alignment at Rabobank about the bank's action plan, including concrete goals and steps to reduce CO2 emissions in the portfolio. Read more (NL)
UK Finance: Mortgage lending to fall 15 percent next year
UK Finance has published its mortgage market forecast for 2023 – 2024, anticipating a softening in the mortgage market next year that marks a return to pre-pandemic norms. Data shows that overall mortgage lending is expected to fall 15 percent, a return to pre-pandemic levels. Read more
Finance Latvia: Fraud cases at four major banks
The remote availability of services and the more active use of digital tools will expand rapidly and significantly. At the same time, the activities of fraudsters in the digital environment are developing, reports Finance Latvia. Read more (LAT) |
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FROM THE INSTITUTIONS ECB: SSM supervisory priorities for 2023-2025 The European Central Bank (ECB) Banking Supervision has published the Single Supervisory Mechanism (SSM) supervisory priorities for 2023-2025. According to the publication, banks reported sound capital ratios and ample liquidity buffers throughout the period, reflecting the strong resilience of the sector, while aggregate volumes of non-performing loans (NPLs) continued to decrease. Read more
ESAs publish joint advice to the EU Commission on the review of the securitization prudential framework
The three European Supervisory Authorities (ESAs) published joint advice in response to the European Commission’s October 2021 call for advice on the review of the securitization prudential framework. The ESAs welcome the current review as an opportunity to assess the performance of the current framework and support the objective of reviving the EU securitization market. Read more
EBA: EBA issues revised list of ITS validation rules
The European Banking Authority (EBA) issued a revised list of validation rules for its reporting standards, highlighting those which have been deactivated either for incorrectness or for triggering IT problems. Competent Authorities throughout the EU are informed that data submitted in accordance with these reporting standards should not be formally validated against the set of deactivated rules. 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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