| EBF MORNING BRIEF Tuesday 14 June 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: Eurozone to avoid recession, growth to accelerate in third quarter, ECB survey shows The eurozone will avoid a recession this year and growth will accelerate noticeably after bottoming out in the second quarter, a European Central Bank (ECB) survey showed. As reported by Reuters, the survey also predicted that the ECB would raise its deposit rate by a combined 75 basis points this year and a combined 150 basis points by the end of next year, with the rate peaking at 1.25% in mid-2024. Read more
S&P Global Market Intelligence: UK banks face mortgage arrears risk as rising inflation squeezes borrowers
According to S&P Global Market Intelligence, British banks are facing a rise in mortgage arrears and property possessions this year as soaring inflation squeezes household incomes. As interest rates climb and inflation grows, banking industry trade body UK Finance expects mortgage arrears to rise 26% to 102,000 borrowers compared to last year. Lenders are already reassessing their loan books in expectation of a more challenging economic environment for borrowers. Read more The International Banker: For banks to survive, they need to champion their eco-conscience "To ensure that the sustainable-banking imperative is achieved, there needs to be structural change so that all banking activities exhibit clearly sustainable and environmentally friendly practices," Matt Williamson, Vice President of Global Financial Services at Mobiquity writes in an opinion piece on The International Banker. Banks and financial institutions must incentivize and contribute to sustainable practices to ensure that the global financial system remains resilient against imminent climate risks, he adds. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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COMING TOMORROW The big picture: How CSOs can drive the banking sector's sustainability |
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 | Tomorrow, join the European Banking Federation & Deloitte launch event and discover the key findings of our new report on the role of Chief Sustainability Officers (CSO) as business leaders, change agents, connectors, and ambassadors of organizations’ culture. During the webinar, we will discuss the skills needed for this versatile role and explore the emerging trends, key challenges, and expected developments. Register now |
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FROM THE EBF MEMBERS
UK Finance: Business Finance Review
UK Finance released its latest Business Finance Review which reports on the financial needs of small and medium-sized enterprises (SMEs). The review shows a continuation of the gradual return to normal lending trends across SMEs during the first quarter of 2022. As a consequence of both the end of Covid-19 restrictions and the significant increase in cost pressures that many businesses are facing, a modest uptick in demand for cashflow finance through overdrafts and invoice finance and asset-based lending is also noted. Read more
Finance Finland: The Financial Academy develops its operations and reputation even further in 2022
Established in 2016, the Financial Academy is a collaborative network that connects financial sector employers and educational institutions. At the center of the Financial Academy’s operations are different kinds of working groups and events that bring the educational and employer parties together. In addition to these events, Finance Finland’s members and the educational institutions can engage in their own exercises and collaborative projects to promote competence and HR development in the sector. Read more
ABI: Sustainable mobility is growing as a response to the pandemic
Banks promote and strengthen sustainable mobility initiatives, limiting the impact on the environment of travel to people's workplaces and favoring the reconciliation of working hours with those of private life. This emerges from the latest BusinEsSG survey, which the Italian Banking Association (ABI) dedicates to the integration into banking activities of the Environmental, Social, and Governance (ESG) management dimensions. Read more (IT) |
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FROM THE INSTITUTIONS
ESAs propose extending temporary exemptions regime for intragroup contracts during EMIR review
The European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published a final report with draft regulatory technical standards (RTS) proposing to amend the Commission Delegated Regulation on the risk mitigation techniques for over-the-counter (OTC) derivatives not cleared by a Central Clearing Counterparty (CCP) under the European Market Infrastructure Regulation (EMIR). Read more
ECB: The role of stress tests in policymaking
Regulatory stress tests have become more than just tools to assess the robustness of financial institutions. The European Central Bank (ECB) latest Macroprudential Bulletin discusses their current role in policymaking, over a decade after they became widely used in response to the global financial crisis. Read more
BIS: Quarterly Review, June 2022
The June 2022 Quarterly Review by the Bank for International Settlements (BIS) analyses how geography, regulation, and taxation set cross-border financial centers apart and propelled their rise. The Review also includes a special feature dedicated to the outsize role of cross-border financial centres. 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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