| EBF MORNING BRIEF Tuesday 27 April 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
Reuters: ECB's Panetta: we must maintain stimulus until inflation hits 2%
The European Central Bank should not dial back its aggressive stimulus measures until the euro zone economy achieves its growth potential and inflation is back at 2%, ECB board member Fabio Panetta said on Monday, Reuters reports. Read more LSE: Opposition to austerity outweighs support for the euro in Italy Could a new financial crisis, brought on by the Covid-19 pandemic, lead to Italy’s exit from the eurozone? Lucio Baccaro, Björn Bremer and Erik Neimanns present evidence from a new survey experiment on Italian attitudes toward a European bailout and exit from the euro. They find that a majority of voters would opt to stay in the euro if a bailout did not involve conditionality, but that there would be a majority for leaving if a bailout were contingent on austerity policies, LSE reports. Read more
PYMNTS.com: European Banks could cut Post-COVID business trips by 50 pct
Some of the biggest banks in Europe are mulling a cut in business trips post-pandemic by as much as 50 percent, Financial Times reported. The decision stems from the success during the global COVID-19 pandemic of conducting business remotely, saving banks time and money. The move also is seen as a benefit to the environment as banks and other businesses move to reduce their carbon footprint, PYMNTS.com writes. Read more |
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MAIN EVENTS today For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS
FBF: Banks on the way to sustainable finance
Aware of the role of banks in fostering the energy transition, French banks intend to accelerate the transformation of their business models to meet the objectives of the Paris Agreement as quickly as possible, the French Banking Association (FBF) reports. Read more (FR) AEB: Europe to review the bank resolution framework For the second time in seven years, the European authorities are going to initiate a review process of the Bank Recovery and Resolution Directive (BRRD). The Spanish Banking Association (AEB) advisor Pedro Cadarso explains why this is an opportunity to reduce its technical complexity. Read more (ES) UK Finance: Bankers are the new activists Bankers are the new activists.' Amanda Gray, Divisional Managing Partner from Addleshaw Goddard gives UK Finance an insight into why bankers are currently in a unique position to positively influence the business community on climate action. Read more |
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FROM THE INSTITUTIONS
ECB: Monetary autonomy in a globalised world
How globalisation affects inflation and financing conditions in the euro area depends on our policy response, says ECB Executive Board member Fabio Panetta. We must use our monetary autonomy to preserve accommodative financing conditions well into the recovery. Read more
ESMA enters final stage in the registration of the first securitisation repositories
ESMA announced that it has reached the last stage in the assessment process of applications received from Securitisation Repositories (SRs) under the Securitisation Regulation (SECR). Read more
BIS: Claudia Buch: Covid-related fiscal measures and debt sustainability
Dealing with increasing insolvencies, maintaining crisis-related policy support only as long as necessary, and ensuring financial sector resilience will be among the policy priorities going forward. There is still a high degree of uncertainty concerning the future evolution of the pandemic and the damage that has been done to the real economy said Prof Claudia Buch, Vice-President of the Deutsche Bundesbank, at the ESM seminar on debt sustainability Panel II "Policy implications in the 'new normal'", virtual, 20 April 2021. 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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