EBF MORNING BRIEF Tuesday 15 November 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 Bloomberg: ECB needs ‘convincing evidence’ to be restrictive The European Central Bank (ECB) shouldn’t rule out raising interest rates to a level that brakes the economy but it should first do careful analysis to determine if that’s warranted, Executive Board member Fabio Panetta said. As reported by Bloomberg, he likened the process to a “balancing act,” where decisions should continue to be informed by “comprehensive analysis of the data.” Read more
Reuters: French, German central bank urge faster pace on EU CMU
The war in Ukraine, inflation, and the energy crisis have made it more important than ever to press ahead with a capital markets union (CMU) to finance green and digital transitions, the governors of the French and German central banks said. The two said it was vital that the 2015 capital markets union (CMU) goes ahead for financial stability to foster the geographical diversification of funding sources and by strengthening private sector risk sharing through the development of equity funding, Reuters writes. Read more
Finextra: BIS Innovation Hub launches new prototype CBDC
Tourbillon is a new project which aims to explore how to improve cyber resiliency, scalability, and privacy as a prototype CBDC. The project has been launched by the Bank for International Settlements (BIS) Innovation Hub’s Swiss Centre. According to Finextra, Tourbillon aims to create privacy by providing it for the payment sender but not for the recipient. Regulatory and compliance checks will continue to apply. Read more |
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MAIN EVENTS For a full-year overview of key financial regulation events: click here |
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 | Global banking is at a crossroads. Financial institutions hoping for a return to a post-pandemic norm are adjusting to a new geopolitical setting, spearheaded by sanctions in the fallout of the war in Ukraine. How will banks navigate the highest inflation seen for decades? What are banks doing to reach their climate targets and digital innovation?
Find out the answer to these questions and more at the Global Banking Summit 2022 by the Financial Times dedicated to 'Sustaining a Growth Mindset: Innovating for Consumer Needs' |
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FROM EBF MEMBERS NVB: Telecom and banks together against online fraud Banks work closely together in the battle to protect customers against payment fraud. The same goes for the telecom sector. As reported by the Dutch Banking Association (NVB), banks and telecom are working closely together in the Netherlands to make it even more difficult for scammers. Read more (NL)
LBA: OECD Review Report
The "Global Forum for Transparency and Exchange of Information for Tax Purposes", as an organ of the OECD, subjected Liechtenstein to a review procedure on the implementation of the AEOI standard. In the AEOI peer review, Liechtenstein achieved excellent results both in the implementation of the legal framework and in the effective implementation of the AEOI in practice, the Liechtenstein Bankers Association (LBA) says. Read more (DE)
Finance Denmark: Investors are again reinvesting record dividends
Figures from Finance Denmark suggest that the Danes are continuing to reinvest their dividends. The picture of the overall flow also includes how large dividends the funds payout to investors. Read more (DK) |
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FROM THE INSTITUTIONS ECB: Outlook for the euro area economy and financial stability A resilient financial sector is essential in these times of high uncertainty, according to European Central bank (ECB) Vice-President Luis de Guindos. "To build on this resilience, we must focus on making the macroprudential toolkit more effective and implementing Basel III," he says. Read more
EBA: Final technical standards on the measurement of liquidity risks for investment firms
The European Banking Authority (EBA) published its final Regulatory Technical Standards (RTS) on specific liquidity measurement for investment firms under the Investment Firms Directive (IFD). These RTS will ensure that all competent authorities follow the same harmonized approach when adopting the decision to impose further liquidity requirements to an investment firm. Read more
ESRB: Bank capital regulation and climate change
Climate change has become a key topic of discussion at financial regulators. Key aspects of this debate include whether and how monetary policy and financial regulation should take climate change and the associated risks. A note by the European Systemic Risk Board (ESRB) focuses on the bank capital regulation aspect of the debate. 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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This newsletter is published by the EBF Mediacentre.
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