FROM THE MEDIA

Bloomberg: ECB’s new bond tool may be tested sooner than expected

The European Central Bank (ECB)’s tool to counter unwarranted jumps in euro-area borrowing costs may be tested sooner than expected as fresh political uncertainty engulfs Italy. “The features of the ongoing political drama in Italy raise questions on two key issues,” AXA chief economist Gilles Moec said in a report seen by Bloomberg. “Can conditionality be light, and what exactly are the ‘right circumstances under which the tool could be deployed?,” he said. Read more

Finextra: Dutch Central Bank fines Binance

The Dutch central bank has fined cryptocurrency exchange Binance EUR3.325 million for offering its services in the Netherlands without registration. As reported by Finextra, Binance has gotten into hot water with regulators across the world about its money laundering controls, prompting a vow from the firm to centralize its business structure to address concerns about a lack of systemic transparency. Read more

FT: Chief sustainability officers prosper as ESG risks mount

According to the Financial Times (FT), the chief sustainability officer (CSO) has become a crucial member of the management team, a rise reflecting sustainability’s increasing prominence on the corporate agenda. The CSOs’ growing influence goes hand in hand with increasing corporate nervousness over environmental risk, as activist investors pursue businesses they regard as sustainability laggards, and regulators crack down on greenwashing. Read more

OUT NOW!

The EBF and Enerdata joint report on
the consequences of the war in Ukraine! 

The EBF and Enerdata have published an analytical report titled "Energy Crisis: Opportunity or threat for the EU’s energy transition?". This data-driven analytical executive brief aims at facilitating banks, their customers but also other stakeholders in setting their strategies and targets, as it explores how the EU’s energy transition could be impacted by the recent crises in the short term, through the lens of the latest trends in fossil fuel consumption, while also examining possible alternatives in the long term. How can banks prepare and set their strategies and targets accordingly? What's the future of Europe's energy dependency? And what would the role of technology be? 

MAIN EVENTS

• Council Working Party on Tax Questions (Indirect Taxation)

• Bloomberg Crypto Summit 2022

• Chatham House ‘War on Ukraine: Economic and political reconstruction’ event

• UK Finance 'How will variable recurring payments affect Open Banking?' event

For a full-year overview of key financial regulation events: click here

FROM THE EBF MEMBERS

FBF: French banks guaranteeing access to cash

The proximity relational model is a trademark of banks in France. Under the aegis of the Cash Sector Steering Committee (CP2F) of which the French Banking Federation (FBF) is a member, the working group on cash accessibility carried out the update for the year 2021 on the annual inventory of cash access points in France. Results testify to the desire of French banks to maintain high accessibility to cash throughout the country. Read more (FR)

AEB: Counterproductive measure

Fighting inflation is a priority that the public and private sectors share, the Spanish Banking Association (AEB) writes. It is vital to tackle it in the short term and implement measures and reforms that allow us to recover some economic certainty. But those measures must be effective. In this context, the announcement of a new tax on banks is surprising, precisely because of its inefficiency and its undesirable effects. Read more (ES)

NVB: Many Dutch households have financial room to invest

According to recent research by the Netherlands Authority for the Financial Markets (AFM), almost half of the Dutch have sufficient buffer to invest but do not. The results indicate that investing yields more than saving in three-quarters of the cases. No policy recommendations follow from the study, the Dutch Banking Association (NVB) points out. Read more (NL)

FROM THE INSTITUTIONS

BIS: The economic power of sustainability and energy transition

Sabine Mauderer, Member of the Executive Board of the Deutsche Bundesbank shed light on why all industries need to care about global warming and who can do what to tackle climate change. "Climate change will have an impact on prices and on financial stability. That’s why central banks have to deal with it, " she said in a speech published by the Bank for International Settlements (BIS). Read more

ECB: Indicative calendars for the Eurosystem’s regular tender operations and reserve maintenance periods in 2023

The European Central Bank (ECB) published the indicative calendars for the Eurosystem’s regular tender operations and reserve maintenance periods in 2023. The indicative calendar for the Eurosystem’s regular tender operations includes only main refinancing operations (MROs) and three-month longer-term refinancing operations (LTROs). It does not include any supplementary or ad hoc operations which may be carried out in 2023. Read more

European Council: Final approval to DMA

The Council gave its final approval on new rules for a fair and competitive digital sector through the Digital Markets Act (DMA), the regulation that will create a digital level playing field and will set clear rights and rules for large online platforms. The DMA will now be finally published in the Official Journal of the EU and will start to apply in six months. Read more

FROM THE EBF

EBF response to European Commission’s Targeted Consultation on the review of the revised Payment Services Directive (PSD2)

The EBF has responded to the European Commission’s targeted consultation on PSD2.  The EBF response notes that overall, PSD2 has contributed to increasing levels of innovation, competition and security, consistent with the objectives of the Directive. Elements such as Strong Customer Authentication (SCA) measures and regulating Third Party Provider (TPP) access to payment accounts are welcomed as overall positive developments in the payments landscape. Read more

EBF/Enerdata joint report on the consequences of the war in Ukraine

The EBF and Enerdata have published a joint report on the consequences of the war in Ukraine. This data-driven report explores the short-term impact and simulates the long-term consequences of the war on European energy and climate policies. Read more

New EBF Vacancies! Work with us!

Visit our Vacancies page to learn more about the opening positions at the EBF. Read more

ABOUT THE EUROPEAN BANKING FEDERATION
 

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European Banking Federation