| EBF MORNING BRIEF Tuesday 30 November 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
FT: Brussels criticised over plan for capital markets databases
Brussels ran into opposition from banks and exchanges within hours of proposing US-style central databases of trading information as the centerpiece of new proposals to integrate its fractured capital markets. The plans published by the European Commission set out a live database containing basic trading information to help investors find the most competitive prices for their deals, the Financial Times (FT) says. Read more
Pymnts.com: European Banks seek EU exemptions to access London trading markets
Pymnts.com reports that European banking groups, including the European Banking Federation, have called for the European Commission to grant EU banks long-term access to London’s derivatives industry. “If the temporary arrangements are allowed to expire without being replaced by equivalence decisions in all key jurisdictions, this will result in increased costs and operational burdens for EU firms while also resulting in trapped assets,” the letter said. Read more
Bloomberg: ECB tries to soothe on three-decade-high prices as Omicron lurks
As reported by Bloomberg, European Central Bank (ECB) officials took to the airwaves to reassure citizens facing a once-in-generation spike in inflation that the squeeze on living costs won’t last, while also expressing confidence that the Omicron variant isn’t too much of a worry. Read more |
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MAIN EVENTS -
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European Parliament Subcommittee on Tax Matters -
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EBF Chief Economists’ Group online meeting
For a full-year overview of key financial regulation events: click here |
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COMING TODAY! A NEW DAWN FOR EUROPEAN BANK M&A: KEY DRIVERS, VALUATIONS & EXPECTATIONS FOR 2022 |
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 | Today at 15:30, join the Banking Essentials webinar co-hosted by the European Banking Federation and S&P Global Market Intelligence on M&A activity. Our panel of experts will delve into what to expect from European bank M&A activity in 2022 and beyond considering that market dynamics are changing rapidly as banks come under increasing pressure to consolidate and new players emerge. |
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SECURE YOUR VIRTUAL SEAT NOW! |
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FROM THE EBF MEMBERS
FBF: Franco-German banking meeting
On the occasion of the Franco-German Economic Day, the French Banking Federation (FBF) looks back at the meetings held by Nicolas Théry, FBF President, and Christian Sewing, President of the German Banking Federation (BdB). They discussed the common challenges of the French and German banking sectors, in particular the transposition of Basel and sustainable finance. Read more (FR)
SBA: Building bridges to support the transition
Founding partner of Building Bridges, the Swiss Bankers Association (SBA) invites representatives of the State, academia and the financial center to debate in Geneva on November 30, 2021. Entitled “Transition financing: the role of private sector financing in climate change mitigation ”, this meeting will be an opportunity to take stock and give new impetus to the transition. Read more (FR)
AEB: It not only happens to others
Cybercrime is one of the biggest concerns at the moment on an international scale, both for countries and for different sectors of the economy, companies and individuals. The Spanish Banking Association (AEB) started an awareness campaign to prevent the installation of malware on devices. Read more (ES) |
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REGISTRATION OPEN! Are Europe's Capital Markets ready for the Future?
Europe's Green & Digital Transition a Year after the CMU |
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 | On 6 December 2021, join the EBF Markets4Europe online event to hear key stakeholders as they discuss the future of CMU. A panel of high-level speakers will explore key questions such as: What will the future CMU look like as a result of the digitalization of financial markets and the emergence of new consumer behavior? What reforms laid out in the Action Plan 2020 remain essential to deepen and further integrate European markets? Can new disruptive technologies such as DLT be seen as enablers of the CMU? Or should they be considered as posing additional challenges to the creation of truly integrated European financial markets? Tune in to discover more! Register HERE |
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FROM THE INSTITUTIONS
ECB: Keeping a close eye on inflation
In an interview with Frankfurter Allgemeine, European Central Bank (ECB) President Lagarde has reiterated her opposition to the tightening of eurozone monetary policy. Lagarde fears any change of course would precipitate 'unemployment and high adjustment costs. Inflation, she maintains, will fall back naturally. Read more
SRB updates operational guidance for operational continuity in resolution
The Single Resolution Board (SRB) published an update to its operational guidance on operational continuity in resolution (OCIR). The guidance was published in July 2020 and provided clarification to banks on how to implement SRB expectations for operational continuity, as well as an indicative phasing-in timetable. The updated document gives more details on topics related to financial resilience and staffing. Read more
EIOPA: Questions & Answers on the Insurance Distribution Directive
In accordance with the European Insurance and Occupational Pensions Authority (EIOPA)'s Regulation, the European Commission has provided answers to a series of Questions & Answers regarding the legal interpretation of provisions of the Insurance Distribution Directive (Directive (EU) 2016/97) and its implementing measures. Read more |
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FROM THE EBF
EBF contribution to the ongoing debate on a Central Bank Digital Euro #3: How does a digital euro fit the payments landscape?
Substantial efforts have been deployed by policy makers and financial industry to create a Single Market for payments up to today. The EBF #3 paper takes a closer look at the expected impact by the digital euro on this market, and what design aspects are essential to consider in return. Read more
Towards a globally competitive, purpose-driven European Banking sector
The banking sector has a key role to play in delivering Europe’s digital and sustainable transition. To advance this transformation, and ensure the economy is underpinned by a stable, secure, tech-intensive, and inclusive financial ecosystem, a regulatory reset is needed. The EBF Board, which convened in Brussels and online on November 25th, discussed the key priorities, opportunities, and challenges for the banking sector. Read more
EBF Response to European Banking Authority’s Consultation on amending RTS on SCA and CSC under PSD2 (EBA/CP/2021/32)
The EBF has responded to the European Banking Authority’s Consultation on amending RTS on SCA and CSC under PSD2 (EBA/CP/2021/32). The EBF acknowledges that the issue of 90-days SCA renewal has widely been raised by AISPs as a particularly problematic aspect of PSD2 implementation and the need for the EBA to explore possible solutions. However, as it is important to balance different market views, we are of the view that a mandatory exemption is not appropriate. Read more
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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