EBF MORNING BRIEF Tuesday 29 June 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. Recommend the EBF newsletters to a colleague. Click here to sign up! |
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FROM THE MEDIA Reuters: Eurozone banks suffering from weakening credit quality Banks in the eurozone are recording a drop in credit quality and this trend is likely to accelerate once government support measures are removed, Reuters reports. "The deterioration is most visible in sectors that were hit harder by the pandemic, such as services, while loan performance problems are less prevalent in manufacturing," European Central Bank Vice President Luis de Guindos said. Read more Cointelegraph: Demand for digital euro not yet clear, says BBVA exec “Considering all the innovation that is taking place in the payments market, it is not clear which customer demands a digital euro could fulfill that may not be fulfilled by other initiatives”, Pablo Urbiola of BBVA’s digital regulation team said. The Cointelegraph reports that these comments come shortly after the ECB declared that the digital euro may be crucial in combating “artificial currencies” in cross-border payments. Read more EURACTIV: Portugal: Improve EU single market for post-pandemic recovery Portuguese Economy Minister Pedro Siza Vieira has said that the EU's single market is still an "incomplete construction" with "barriers to be eliminated". The required steps ahead should be a foundation of the post-pandemic economic recovery as a better functioning of the single market will help to face the challenges of digital and green transformation, EURACTIV reports. Read more |
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MAIN EVENTS Deutsche Bundesbank, the Center for Liberal Modernity and the Potsdam Institute for Climate Impact Research events on designing climate policies Nordic EU Finance Forum. EBF CEO Wim Mijs speaking EBF Cybersecurity Working Group virtual meeting EBF Market Structure Subgroup virtual meeting EBF Financial Sanctions Expert Group virtual meeting For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS Finance Norway: Calls for green export measures from the state Finance Norway, NHO, and the Norwegian Shipowners' Association are asking the state for help to speed up the green transition and come up with four points for green export promotion. Among the demands are increased co-operation between Norway and the EU on common ground rules, faster EU adaptation of Norwegian laws and regulations, and work to ensure Norwegian companies access the EU's financing schemes. Read more (NO) FBF: Weekly figures Data by the French Banking Federation shows that 96% of children between 8 and 14 years old say they have already made a purchase with their money. Besides, € 41 billion is the amount of funding by French banks in the renewable energy sector. Read more (FR) Finance Finland: Celebrating Pride with a donation to LGBTQIA youth Finance Finland wants to improve understanding of diversity in the financial sector. To that purpose, it has made a donation to Seta LGBTI Rights in Finland. This donation is aimed towards Seta’s work in providing education and consultation on sexual orientation, gender, family types, and human rights at different levels of society. Read more |
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FROM THE INSTITUTIONS ECB: Monetary-fiscal interactions on the way out of the crisis A combination of fiscal and monetary support has lifted the economy out of the state of emergency, says European Central Bank (ECB) Executive Board member Fabio Panetta. Achieving price stability requires acknowledging that monetary and fiscal policies cannot ignore each other. Read more European Council: Non-performing loans: provisional agreement on selling credit to third parties EU ambassadors today confirmed a provisional agreement reached between the Council presidency and the Parliament on a new directive harmonizing rules for credit servicers and credit purchasers of non-performing loans issued by credit institutions. The aim of the new rules is to support the development of the secondary market for non-performing loans in the EU in order to allow banks to clean their balance sheets of ‘bad loans’ while ensuring that the sale does not affect the rights of borrowers. Read more EBA: Consultation to review Guidelines on common procedures and methodologies for the supervisory review and evaluation process The European Banking Authority (EBA) launched a public consultation on its revised Guidelines on common procedures and methodologies for the supervisory review and evaluation process (SREP) and supervisory stress testing. The comprehensive revisions aim at implementing the recent amendments to the Capital Requirements Directive (CRD V) and Capital Requirements Regulation (CRR II), as well as aligning with other regulatory developments and best supervisory practices. The consultation runs until 28 September 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. If you do not want to receive the EBF Morning Brief click here. For questions or suggestions contact f.indaco@ebf.eu European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium |
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