EBF MORNING BRIEF Tuesday 4 October 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 Risk.net: European banks set for 17.5% capital hike under Basel III Large European banks are expected to see their Tier 1 capital requirements increase by 17.5% under the fully loaded Basel III rules compared with end-2021 levels, figures from the latest Basel Committee on Banking Supervision (BCBS) monitoring report shows. According to Risk.net, the average capital increase for European Group 1 banks is driven by the output floor, which is expected to hike their minimum required capital. Read more
Reuters: Euribor in expansion mode for first time since rigging scandal
Euribor is making its first push to expand the number of banks contributing to its benchmark rate, a decade after a global rigging scandal that put its very future in doubt. The European Money Markets Institute (EMMI) now calculates the rates, which show how much banks charge to lend to each other, using a hybrid mix of actual transactions and estimates, which has so far proved robust, Reuters writes. Read more
FT: Credit Suisse reassures investors over its financial strength
Senior Credit Suisse executives spent the weekend reassuring large clients, counterparties and investors about the Swiss bank’s liquidity and capital position in response to concerns raised about its financial strength. As reported by the Financial Times (FT), executives denied that Credit Suisse had approached investors about raising more capital. 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 EBF MEMBERS FBF: Barbara Sillac appointed new director of banking and accounting supervision department Barbara Sillac joined the French Banking Federation (FBF) as the new director of the banking and accounting supervision department, replacing Bertrand Lussigny. Her mission at the FBF will be to provide her expertise on all market issues relating to banking and accounting supervision. Read more(FR) UK Finance: Post Covid-19 approaches to business continuity A massive increase in home working is driving changes to the business continuity strategies of UK Finance’s member firms, with potential implications for resilience. According to UK Finance, the rise in employees working remotely has pushed many firms to consider moving away from the use of Work Area Recovery sites, either by reducing the number of seats or eliminating them entirely in favour of working from home as a default strategy. Read more LBA: European Cyber Security Month 2022 In October, the annual "European Cyber Security Month" takes place. European institutions, Europol, the European Banking Federation (EBF) and their partners from the public and private sectors have launched a joint awareness campaign on various topics related to cyber scams. The Liechtenstein Bankers Association (LBA) is participating in the initiative due to the importance of the topic for the industry. Read more |
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FROM THE INSTITUTIONS
ESMA: EURIBOR panel enlargement The European Money Markets Institute (EMMI) announced that Raiffeisen Bank International AG (RBI) will join the EURIBOR panel on 2 November 2022. The European Securities and Markets Authority (ESMA) and the Financial Market Authority Austria (FMA) welcome the inclusion of RBI in the panel as a positive development for users of EURIBOR and for safeguarding market confidence in this critical benchmark in general. Read more
EBA: Assessment of the market share of non-EU entities in the EU banking system and the dependency of EU banks on funding in foreign currencies
The European Banking Authority (EBA) published a Report on the reliance of the EU financial sector on counterparties, operators, and financing originating from outside the Single Market. Findings reflect the high degree of openness of the EU economy within the global financial system. Read more
SRB: The Liikanen Report and the proposal for a resolution framework
As reported by the Single Resolution Board (SRB), the Liikanen Report published in 2012 outlined the work by the high-level expert group to assess the need for structural reform in the banking sector. In this context, while the proposal for structural reform in the banking sector was not implemented in the EU, many of the ideas brought forward by the high-level expert group can be found in other regulatory initiatives. Read more |
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FROM THE EBF
New 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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This newsletter is published by the EBF Mediacentre.
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