| EBF MORNING BRIEF Tuesday 20 July 2021 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: Lagarde’s strategy hints at new era of ECB teamwork with Germans
President Christine Lagarde had barely begun unveiling the European Central Bank’s new monetary policy strategy this month when she signaled that the Germans were on board. By quickly highlighting officials’ unanimous backing, she revealed the support of Bundesbank chief Jens Weidmann, Bloomberg reports. This validation underscored how the Bundesbank is now committed to exerting influence through engagement rather than confrontation. Read more
EU Reporter: Majority of EU citizens favor the euro, with Romanians most enthusiastic
Three out of four Romanians favour the Euro currency. A survey done by Flash Eurobarometer found that Romanians overwhelmingly back the euro currency, writes Cristian Gherasim, Bucharest correspondent. The survey was carried out in seven of the EU member states which have not joined the Eurozone yet: Bulgaria, the Czech Republic, Croatia, Hungary, Poland, Romania and Sweden. Overall, 57% of respondents are in favor of introducing the euro in their country. Read more
Finextra: Danske Bank introduces carbon-neutral mortgage
Danske Bank's Northern Ireland unit has launched the UK’s first mortgage to be certified as carbon neutral. The mortgage was certified by the Carbon Trust, which has measured the carbon footprint of providing mortgages, including the emissions generated throughout the mortgage lifecycle, Finextra writes. 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 THE EBF MEMBERS
FBF: Appointment of Nicolas Théry as President
Nicolas Théry, Chairman of Crédit Mutuel, becomes, as of September 1, 2021, for one year, Chairman of the French Banking Federation (FBF). He succeeds Philippe Brassac, Chief Executive Officer of Crédit Agricole SA. Laurent Bonnafé, Director and Chief Executive Officer of BNP Paribas, remains vice. Read more (FR)
ACB condemns the attack against the "DIAS" complex
The Association of Cyprus Banks (ACB) condemns in an absolute and unequivocal manner the vicious attack on the 'DIAS' complex. The damages caused to the "DIAS" complex have deeply wounded the history of the country and the precious achievements of the freedom of the press, freedom of expression, and democratic institutions, ACB says in its press release. Read more (EL)
NVB: What can the banking sector learn from six years of oath and disciplinary law?
The bankers' oath and the disciplinary system have now been in existence for six years. This prompted the Dutch Banking Association (NVB) to examine how oath and discipline have been incorporated into daily practice. Hubert Schokker, Senior adviser for supervision at the NVB outlines the results and recommendations of the recent research. Read more (NL) |
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FROM THE INSTITUTIONS
ECB: Credit risk: Acting now paves the way for sound resilience later
This crisis provides an opportunity to improve credit risk management in banks, says European Central Bank (ECB) Supervisory Board member Elizabeth McCaul. Strong credit risk controls help banks support economic recovery, so good practices should be adopted more widely. Read more
ESMA: Consultation on remuneration requirements under MiFID II
The European Securities and Markets Authority (ESMA) launched a consultation on draft ESMA guidelines on certain aspects of the MiFID II remuneration requirements. Guidelines aim to clarify and foster convergence in the implementation of certain aspects of the new MiFID II remuneration requirements, replacing the existing 2013 guidelines on the same topic. Read more
EIOPA: Supervisory statement on the ORSA in the context of COVID-19
The European Insurance and Occupational Pensions Authority (EIOPA) published the supervisory statement on Own Risk and Solvency Assessment (ORSA) in the context of the COVID-19 pandemic. With the aim to foster supervisory convergence, EIOPA in this supervisory statement focuses on the supervision of the internal processes of undertakings that are necessary for having a good quality ORSA in place. Read more |
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FROM THE EUROPEAN BANKING FEDERATION
Targets for addressing the four challenges of cross-border payments consultation: European Banking Associations response
EBF together with other banking sector associations has responded to the Financial Stability Board’s consultation on Targets for Addressing the Four Challenges of Cross-Border Payments. Overall, we appreciate the initiative for global action. However, we believe that such a complex overhaul of the global payments system requires a thorough analysis as well as an analysis of the whole system, in order to define a target date. Right now, the targets are a strong challenge for all parties involved, and some adjustments to the proposed targets are needed. Read more
Joint Association Letter on the implementation of the CSDR Settlement Discipline Regime
EBF together with fifteen trade associations, representing buy-side, sell-side, and market infrastructures, wrote to ESMA and the European Commission regarding the timeline for implementation of the mandatory buy-in rules as part of the CSDR Settlement Discipline Regime. The Joint Associations welcome the Report from the Commission on the CSDR Review published in July 2021 and fully support the Commission’s intention to consider amendments to the mandatory buy-in regime, subject to an impact assessment. 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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