EBF MORNING BRIEF Tuesday 20 September 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 pushing banks to scrutinize energy-intensive risks The European Central Bank (ECB) is pushing lenders to scrutinize their exposure to energy-intensive industries. Andrea Enria, who leads the ECB’s supervisory board reiterated his call for banks to factor in a potential “severe” economic downturn in their projections of how capital ratios will evolve. Those calculations are a key factor banks take into account when announcing dividends and share buybacks, Bloomberg notes. Read more
Reuters: ECB to buy fewer bonds from polluting companies
The European Central Bank (ECB) will tilt its purchases of corporate bonds towards companies that emit less carbon, giving each firm a score based on their performance, goals and climate disclosures. As reported by Reuters, starting next month, the ECB will use a climate score of its own creation when choosing how much of a company's debt it should buy with cash it gets from bonds that mature. Read more
FT: UK financial watchdog issues warning against crypto exchange FTX
The UK’s financial regulator has warned consumers against dealing with FTX, the cryptocurrency exchange run by billionaire Sam Bankman-Fried. According to the Financial Times (FT), the Financial Conduct Authority (FCA) said the Bahamas-based exchange appeared to be offering products and services in the UK without its authorization. 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 BdB: Financial knowledge of Germans The latest representative survey by the Association of German Banks (BdB) shows that the Germans' level of financial education is not very high. Within this context, it is by no means only younger people who are lacking in financial education. Read more (DE)
ABI: Mortgage suspension following severe bad weather
The Italian Banking Association (ABI) has just issued a circular for banks to immediately implement the suspension of mortgages for the population affected by the tragic floods in the center of Italy. Besides, ABI signed a specific Memorandum of Understanding with the Civil Protection and Consumer Associations to ensure effective interventions. Read more (IT)
Finance Norway: New loan guarantee scheme in the support package
The government in Norway presented its plan for electricity support for business, where part of the support package is a loan guarantee scheme. The loan guarantee scheme will be managed by Export Finance Norway (Eksfin), Finance Norway reports. For banks that wish to take part in the scheme, a framework agreement will be entered into between Eksfin and the bank, based on allocation upon application. Read more (NO) |
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FROM THE INSTITUTIONS ECB: Decarbonise corporate bond holdings The European Central Bank (ECB) published further details on how it aims to gradually decarbonize the corporate bond holdings in its monetary policy portfolios, on a path aligned with the goals of the Paris Agreement. Also, these measures support the green transition of the economy in line with the EU’s climate neutrality objectives. Read more
EBA: Response to the EU Parliament’s 2020 Discharge report
The Opinion follows up on the observations made by European Parliament in its 2020 discharge report and elaborates on measures taken by the European Banking Authority (EBA) in response to it. Out of the 30 observations, the EBA is of the view that 26 have already been implemented or are no longer applicable. Read more SRB: European banks: resolvable and ready for crisis? At the Single Resolution Board (SRB)'s seventh annual conference, Elke König, SRB Chair stated that promoting financial stability by ensuring a robust banking resolution system is key in uncertain times. "It is true that a future crisis cannot be predicted or prevented, but it is also true that action must be taken to be well prepared," she says. Read more |
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FROM THE EBF this month
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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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