EBF MORNING BRIEF Tuesday 17 January 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: Germany joins the battle against EU ban on financial product
Banning commission-based sales of financial products from banks and insurers would be a "serious setback" to the EU capital market and limit choice for consumers, Germany's finance minister Christian Lindner said. Lindner said in a letter to McGuinness, dated Dec. 28 and seen by Reuters, that he welcomed her goal to deepen the EU capital market, but he was "very much concerned" about a possible ban on inducements. Read more
Bloomberg: Euro area is in ‘very resilient place,’ Donohoe says
The euro area is in a “very resilient place” and is likely to avert recession with a “very low level of growth” this year, according to the head of the Eurogroup. “If inflation persists at the levels that is at the moment, we will be poorer for even longer,” he told Bloomberg in a separate interview. Read more
Cointelegraph: Crypto scammers on the hit list for EU agencies
By the end of 2022, scammers shifted their focus to duping crypto investors who desperately tried to recoup their year-long losses, Cointelegraph reports. While scammers continue to impersonate government authorities and businesses, the crypto community maintains a proactive approach to weaken scammers through proactive warning announcements, hack preventive fixes and educating the general public. 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: Sustainable banking is the only way In 2022, banks will take an essential step in the Financial Sector Climate Commitment with every bank publishing its own action plan including concrete goals and steps to reduce CO2 emissions in its loan portfolio. In part 2 of the intreview series by the Dutch banking Association (NVB), Merel Hendriks, sustainability officer of NWB Bank, affirmed that sustainable banking is the only way forward. Read more (NL) CBA: Banks provided mortgages worth 197 billion last year Banks provided mortgages worth 197 billion last year. The interest rate remained at 6% in December while mortgage activity fell by more than 60% in 2022. This is what emerges from the latest Hypomonitor by the Czech Banking Association (CBA). Read more (CZ) HUB: Adaptation of ATM network for the payment of euro banknotes The adaptation of the ATM network for the payment of euro banknotes has been successfully completed, the Croatian Banking Association (HUB) reports. In accordance with the defined term plans, the entire ATM network was supplied with euro banknotes. Read more (HR) |
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FROM THE INSTITUTIONS ECB: The safe asset potential of EU-issued bonds Modern financial systems rely on safe assets. A paper by the European Central Bank (ECB) studies the quickly growing market for bonds issued by the EU and assesses their prospects for ultimately becoming a genuine supranational euro-denominated safe asset. Read more
EBA: Annual quantitative monitoring report on minimum requirement for own funds and eligible liabilities
The European Banking Authority (EBA) published its annual quantitative Report on minimum requirement for own funds and eligible liabilities (MREL) with data as of December 2021. The Report shows progress in closing MREL shortfalls, albeit at a lower rate for smaller banks and concludes that the impact of MREL on banks’ profitability is manageable, although heterogeneous across types of banks and Member States. Read more
ESMA: Marketing of financial products
The European Securities and Markets Authority (ESMA) is launching a common supervisory action (CSA) with competent national authorities (NCAs) on the application of MiFID II disclosure rules with regard to marketing communications across the European Union (EU). The CSA will be conducted over the course of 2023. Read more |
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FROM THE EBF
EBF: Updated position on MIFIR Review
The European Banking Federation (EBF) supports the MiFIR review proposal presented by the European Commission. However, there are concerns about the proper analysis and impact assessments of several MiFIR reform proposals. Read more
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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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