| EBF MORNING BRIEF Tuesday 8 February 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 Reuters: EU watchdogs call for rapid action on digital finance "Digital finance has unlocked new synergies between financial and non-financial activities that potentially introduce systemic risk into the market for financial services," a joint report from the EU's banking, insurance, and markets watchdogs said. Rapid action is needed to update how cross-border financial services are scrutinized and consumers protected, Reuters reports. The report also calls on the European Commission to take a "holistic" view of supervising financial services. Read more
FT: EU plan last-ditch effort to reject green investment rules
EU legislators are preparing a cross-party bid to vote down Brussels’ new rules on green investments over the inclusion of nuclear power and natural gas as sustainable energy sources. MEPs from the European Parliament’s major groups have told the Financial Times (FT) that the “taxonomy” produced last week by the European Commission faces an uncertain fate. Read more
S&P Global Market: Green bond supply to grow in 2022 as polluting sectors step up climate efforts
Companies within high-emitting sectors such as industrials and materials are lining up to enter the green bond market and will likely help to fuel supply in the year ahead. In 2020, utilities made up 56% of nonfinancial corporate green bond issuers, while this number was just 12% for industrials and 4% for respectively energy and materials, according to S&P Global Ratings research. Global green bond issuance could "easily double" in 2022, according to Clifford Lee, global head of fixed income at DBS Bank. 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 THE EBF MEMBERS SBA: Carina Åkerström new chair of the Swedish Bankers' Association Carina Åkerström, President and CEO of Handelsbanken, has been elected as the new Chair of the Board of the Swedish Bankers' Association (SBA). She succeeds Johan Torgeby, President and CEO of SEB. At the same time, Jens Henriksson, President, and CEO of Swedbank has been elected as the new Vice-Chairman. Read more (SV)
Finance Latvia: The housing market will remain active
With continued demand for housing, the property market is forecasted to remain very active this year: as house prices per square meter rise, construction costs remain stable and bank mortgage rates remain low. Finance Latvia says that insufficient supply, especially in the new housing segment, will also contribute to price increases. Read more (LV)
CBA: Economic commentary: Industry collapsed in December
Industrial production fell in December on both a month-on-month and year-on-year basis, mainly due to weaker car production. However, the Czech Bankers Association (CBA) says this is partly an effect of the high comparative base, with production being strong in both November 2021 and December 2020 to make up for weaker months. Read more (KS) |
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FROM THE INSTITUTIONS
ESAs recommend actions to ensure the EU’s regulatory and supervisory framework remains fit-for-purpose in the digital age
The three European Supervisory Authorities (ESAs) published a joint report in response to the European Commission’s February 2021 Call for Advice on Digital Finance. The proposals that were put forward aim at maintaining a high level of consumer protection and addressing risks arising from the transformation of value chains, platformisation, and the emergence of groups combining financial and non-financial activities. Read more
ESMA: Supervisor of EU Data Reporting Service Providers
The European Securities and Markets Authority (ESMA) took on its new mandate as direct supervisor of the largest EU Data Reporting Service Providers (DRSPs). This role gives ESMA direct authorization and supervisory powers over DRSPs, except for those entities that, due to more limited market impact, will continue to be supervised by Member States. Read more ECB: Christine Lagarde at the Hearing of the Committee on Economic and Monetary Affairs Christine Lagarde, President of the European Central Bank (ECB), delivered an introductory statement at the Hearing of the Committee on Economic and Monetary Affairs of the European Parliament. 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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