| EBF MORNING BRIEF Tuesday 26 October 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: Europe scales back new bank capital proposal to boost recovery
The European Union plans to soften the blow to banks from new capital rules, arguing that an easier stance ensures lenders can keep funding the economy as it recovers from the shock of the pandemic. In its implementation of the global banking standards known as Basel III, the European Commission will include flexibility on several issues banks had lobbied for while stopping short of meeting the industry’s key demand of retaining significant freedom to assess the riskiness of their own loans, according to a draft proposal seen by Bloomberg. Read more
FT: Brussels warned not to delay tighter capital rules for EU banks
The EU has been warned not to delay the next phase of global banking rules, as draft plans show that Brussels is suggesting giving European banks a two-year extension to an internationally agreed deadline. Carolyn Rogers, secretary-general of the Basel Committee for Banking Supervision, said the new rules were “a really important final chapter” in the overhaul of capital regulations known as Basel III. They had to be implemented “consistently and as soon as possible”, she told the Financial Times (FT). Read more
Finextra: ECB invites tech experts to join CBDC debate
According to Finextra, the European Central Bank (ECB) is inviting technology experts to take part in online technical talks to explore options for the design of a central bank digital currency (CBDC). The talks are part of an ongoing CBDC investigation phase instigated by the ECB in July and set to last two years. Read more |
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MAIN EVENTS -
European Banking Authority (EBA) ‘EBA 10th Anniversary’ conference (Wim Mijs, EBF CEO speaking) -
European Parliament Committee on Economic and Monetary Affairs (ECON) meeting -
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EBF SSM Strategy Group online meeting
For a full-year overview of key financial regulation events: click here
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HAPPENING TODAY! EBA 10 years conference |
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 | On the occasion of the 10th anniversary of its activities, the European Banking Authority (EBA) organizes a high-level conference to reflect on the progress made over the last 10 years on EU banking and financial integration, as well as to look ahead at the challenges and opportunities that still await us. High-level panelists will provide an assessment of the financial integration in the EU over the last 10 years in the context of the rebuilding of the financial regulatory framework globally. Speakers include Wim Mijs, EBF CEO, Andrea Enria, ECB Single Supervisory Mechanism Chair, Claudia Buch, Deutsche Bundesbank Vice-President and Elke König, Single Resolution Board (SRB) Chair. Read more |
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FROM THE EBF MEMBERS
BPFI: SME Market Monitor – October 2021
The latest SME Market Monitor published by the Banking & Payments Federation Ireland (BPFI) has outlined how rising energy costs and lower than expected BER ratings on non-domestic buildings will see businesses focus on how to fund and increase energy efficiency. The imperative is that SMEs take full advantage of government supports and green lending options. Read more
CBA: Economic commentary: Confidence continues to fall in October
Confidence among entrepreneurs continued to decline, especially in industry, where problems with semiconductor supplies intensified, causing significant downtime. Households fear a deterioration in their own financial situation and their fears of inflation, which reached a new historical record in October, are also growing. This is what emerges from the economic commentary by the Czech Banking Association (CBA). Read more (CZ)
BdB: Banks want to be drivers in the fight against climate change
Shortly before the world climate summit COP26 in Glasgow, the private banks presented their positions for successful integration of the financial sector in climate protection policy. “In order to still be able to meet the Paris climate protection goals, we need close cooperation between politics, business, and the financial sector. Banks want to be the driving force in the fight against climate change; it won't work without us, ”said Christian Ossig, General Manager of the Association of German Banks (BdB). Read more (DE) |
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FROM THE INSTITUTIONS
ECB announces members of Digital Euro Market Advisory Group
The European Central Bank (ECB) has announced the members of the Market Advisory Group for the digital euro project. The ECB has appointed 30 senior business professionals. The members are to advise the Eurosystem on the design and distribution of potential Digital Euro. Meetings of the group are to be held at least quarterly, starting in November 2021. Read more
BIS: 2021 G20 TechSprint
Benoît Cœuré, Head of the Bank for International Settlements (BIS) Innovation Hub discussed sustainability at the closing event of the 2021 G20 TechSprint. "Governments need to work harder. But they cannot make it alone. The private sector will be key. First, massive new investments will be required. Second, private sector innovation will be necessary to address pressing challenges [...] Climate change is a global crisis that requires coordinated action by central banks and other players, both public and private", he says. Read more
EESC: Banking Union
The European Economic Social Committee (EESC) has published an additional opinion on Euro area economic policy 2021. The opinion calls for the integrity of the single market to be maintained and for any signs of its fragmentation to be prevented, as a fundamental condition for the future positive performance of the EU and euro area economies. This integrity should be further supported through suitable progress in the development of the Banking Union and the Capital Market Union. Read more |
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FROM THE EBF
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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