FROM THE MEDIA

Reuters: ECB open to giving banks more time to rebuild capital buffers

The European Central Bank is open to giving banks in the eurozone more time to rebuild capital buffers if the current crisis leads to a material deterioration of asset quality, ECB bank supervisor Andrea Enria said on Monday, Reuters reports. “We plan to stick to the flexibility that we provide banks, to use the capital buffers until at least 2022,” Enria told an online conference. “But we can also reconsider the time path if there were to be a significant materialisation of asset quality problems.” Read more

Finextra: The role of digital currencies in the new era of open finance

As open finance emerges as the next step in this journey of innovation, digital currencies are naturally set to play a significant role. Digital alongside cryptocurrencies are indeed approaching a mainstream adoption phase that will change the payments landscape. "To achieve a scalable and trustworthy CBDC, central banks must set the highest operational and technological requirements while also considering where the private sector can bring its expertise and market abilities to the table", Yuval Ziv tells Finextra. Read more

FT: Ireland finally eyes the exit door for bank stakes

A decade on from the financial crisis, Ireland’s government is running out of good reasons to continue owning the majority of the banking sector. Ireland bailed out three banks in 2011-12 at a collective cost of almost €30bn, FT reports. The choice then was to pull out the national cheque book or let the country’s banking system collapse and unleash unknown domestic chaos. But the cost of the bailout was so ruinous it forced the country into an EU-IMF rescue programme and triggered years of austerity. Read more (€)

MAIN EVENTS

• European Banking Authority Banking Stakeholder Group meeting

• Council Working Party of Financial Counsellors meeting

• CBI ‘Seize the Moment — How can business transform the UK Economy?’ event

• QED Virtual Conference on Instant Payments

• EU-UK Forum annual conference 

• EBF Brexit Working Group virtual meeting

FROM THE EBF MEMBERS

FROM THE INSTITUTIONS

EBA: Final draft on technical standards to improve supervisory cooperation for investment firms

The European Banking Authority (EBA) published the final draft of regulatory technical standards (RTS) and Implementing Technical Standards (ITS) on cooperation and information exchange between competent authorities involved in prudential supervision of investment firms. These draft standards provide a solid framework for cooperation in the supervision of investment firm groups and for information exchange for investment firms operating within the EU through branches or the free provision of services. Read more

BIS: Isabel Schnabel: Escaping low inflation?

Isabel Schnabel, Member of the Executive Board of the European Central Bank (ECB) discussed inflation in the euro area over the coming years. "After a long period of very low inflation, the current spirit of optimism and confidence, in combination with significant public and private investments in digital and green technologies, provides a welcome opportunity for long-term inflation expectations to realign more closely with the Governing Council's definition of price stability", she says. Read more

BoF: François Villeroy de Galhau discusses a Digital Euro

The Bank of France (BoF) has published a speech by Governor François Villeroy de Galhau. He spoke about Central Bank Digital Currencies (CBDC). He spoke about Central Bank Digital Currencies (CBDC). He is a member of the European Central Bank’s (ECB) Governing Council. He started his speech by making it clear that no decision has been taken on whether to create a digital euro. He noted that cash has accelerated its decline over the past 18 months, with a strong shift towards the tokenisation of financial assets. However, he emphasised that the central bank will not abandon cash. He stated that the ECB must be ready to introduce CBDC rapidly. Read more

FROM THE EUROPEAN BANKING FEDERATION 

Commission’s public consultation on instant payments: EBF response

The EBF has responded to the European Commission’s public consultation on instant payments. Our response highlights that Pan-European instant payments can contribute to achieving a more integrated Single Market in retail payments. However, we consider of the utmost importance that the EU Commission clarifies its overall vision of a future EU payments landscape. The challenges of creating instant payment-based solutions should not be underestimated and it is important that the right incentives are in place to make instant payments competitive over time vis-à-vis other payment means. Read more

ABOUT THE EUROPEAN BANKING FEDERATION
 

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