| EBF MORNING BRIEF Tuesday 7 June 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
FT: The four steps that clear a political path to EU banking union
Thomas F Huertas, Senior Policy Fellow at the Leibniz Institute for Financial Research identifies the key steps toward the EU banking union in an opinion piece in the Financial Times (FT). Steps include ending forbearance, making exit the single presumptive path for resolution, making national deposit guarantee schemes investors of last resort in a bank’s “gone-concern” capital, and having the Single Resolution Fund function as the Single Deposit Guarantee Scheme (SDGS). Read more
Bloomberg: ECB to ask Lagarde to be tough on fragmentation
European Central Bank (ECB) policymakers will this week ask President Christine Lagarde to use stronger language to signal that fragmentation won’t be allowed to happen and the borrowing costs of more vulnerable countries will be contained, people familiar with the matter heard by Bloomberg says. In December, the Governing Council decided that extra flexibility in reinvesting bonds maturing from its emergency portfolio would be sufficient. Now, as spreads continue to widen, the debate is once again heating up. Read more
International Banker: Regulations continue to sweeten SME lending
The European Union’s 25 million small and medium-sized enterprises (SMEs) are the backbone of growth in the Member States. However, SMEs can find it difficult to access finance, according to the International Banker. They heavily rely on bank financing and have generally refrained from accessing the capital markets by issuing bonds or other securities. With its Capital Markets Union (CMU) project, the EU aims to limit this overreliance on bank funding and broaden SMEs’ access to market-based sources of financing. Read more |
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MAIN EVENTS
Monday 6 June
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European Parliament plenary session
Tuesday 7 June
For a full-year overview of key financial regulation events: click here
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COMING TOMORROW Navigating sanctions:
Overcoming the challenge facing Europe's banks |
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 | Sanctions are seen as an important way to target economies, apply political pressure and help resolve conflict. But they can pose big challenges for banks. How can sanctions be implemented to achieve the desired objectives? How can the banking industry ensure an aligned approach? On 8 June, hear from EBF and S&P Global Market Intelligence to explore the implications and implementation of sanctions in a time of crisis. Register now |
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FROM THE EBF MEMBERS
HBA: Press release on the special tax
Since the 2008 global economic crisis, the banking sector has been facing new challenges and extra taxes. According to the Hungarian Banking Association (HBA), the cumulative impact of these payment obligations is already threatening the ability of the banking sector to boost economic development and act as the facilitator of capital flows. Therefore, the Association opposes the imposition of additional tax payment obligations. Read more
BdB: Corporate financing
Businesses are impacted multiple times by war, supply chain issues and transformation. While corporate insolvencies remain at a low level, companies are increasingly pessimistic about the future, the Association of German Banks (BdB) reports. Challenges also affects corporate financing. In order to keep banks' lending capacity open, the right framework conditions and a financing mix of private and public capital are crucial. Read more (DE)
Finance Norway: Increase in seasonally adjusted sickness absence
Sickness absence certified by a doctor will increase in Finance Norway's member companies for the first quarter of 2022. In this quarter, sickness absence on a doctoral basis amounts to 3.7 per cent of agreed work days. Compared with the same quarter last year, there is an increase of 0.4 percentage points. Read more (NO) |
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FROM THE INSTITUTIONS
EBA: Phase 2 of its 3.2 reporting framework
The European Banking Authority (EBA) published phase 2 of version 3.2 of its reporting framework. The technical package supports the implementation of the updated reporting framework by providing standard specifications and includes the validation rules, the Data Point Model (DPM) and the XBRL taxonomies for version 3.2. Read more
ESMA: Proposal for EUR 1 billion increase of the commodity derivatives EMIR clearing threshold
The European Securities and Markets Authority (ESMA) published its Final Report on the increase of the commodity derivatives EMIR clearing threshold (CT), and proposes to increase the CT from EUR 3 billion to EUR 4 billion. Read more
EIOPA: Monthly technical information for Solvency II Relevant Risk Free Interest Rate Term Structures
The European Insurance and Occupational Pensions Authority (EIOPA) published technical information on the relevant risk free interest rate term structures (RFR) with reference to the end of May 2022. FR technical information has been calculated on the basis of the content of the technical documentation under Background material. Read more |
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FROM THE EBF
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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