| EBF MORNING BRIEF Wednesday 10 February 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
The Banker: Banks outperform expectations in fourth quarter Despite the uncertain operating environment due to the Covid-19 pandemic, several big US and European banks exceeded profits expectations in the fourth quarter of 2020, with some recording double-digit percent increases in net income, writes managing editor of The Banker Joy Macknight. Read more Euronews: Europe's recovery must focus on investment, says ECB chief Europe's recovery from the COVID-19 pandemic should be focussed on investment, according to the President of the European Central Bank (ECB). Christine Lagarde told members of the European Parliament on Monday that fiscal support for member states was important to come back from the devastation of the coronavirus, but investing wisely will be more significant. Read more
Finextra: ECB ponders threshold for consumer digital euro holdings The European Central bank is toying with the idea of imposing a €3000 limit on consumer CBDC accounts to discourage users from transferring all their cash from commercial banks to the central bank, reports Finextra. Read more |
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MAIN EVENTS today -
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The Economist hosts Newsmaker seminar with ECB President Christine Lagarde
For a full-year overview of key financial regulation events: click here |
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FROM THE EBF MEMBERS BPFI: Submission on review of National Development Plan Banking and Payments Federation Ireland (BPFI) has published its submission to the public consultation on reviewing the National Development Plan. The National Development Plan must focus on climate and sustainable related projects that will drive balanced rural development and growth across the regions. Read more
NVB: "Financial Election Debates" for Dutch general election 2021 The Dutch Banking Association (NVB) will hold "Financial Election Debates" prior to the Dutch general election on 17 March, to determine which steps the Netherlands must take to emerge from the crisis in a strong, inclusive and sustainable way. Read more (NL)
Bankenverband: Lexicon of cybercrime for European Security Month The Association of German Banks (Bankenverband) supports the European Security Month (ECSM) with lexicon of cybercrime to raise awareness about online fraud. Read more (DE) |
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FROM THE INSTITUTIONS
ECB: Why a digital euro?
Our main motivation is the digitalisation of the financial sector, says ECB Executive Board member Fabio Panetta in an interview with Der Spiegel. Alongside cash, a digital euro would provide a simple, safe, reliable means of payment that is cost-free to use, protects data and is accepted throughout the euro area. Read more
European Commission: Digital Markets Act proposal
The European Commission has published a report it commissioned undertaken by a panel of economic experts on its Digital Markets Act proposal. The Panel agree with the absolute size thresholds in defining a ‘gatekeeper’ and it also notes that some vagueness in the definition of platforms and operating systems may be a necessary cost to allow the Commission some flexibility. Read more
ESMA withdraws the credit rating agency registrations of fitch entities
ESMA has withdrawn the credit rating agency (CRA) registrations of Fitch France, Fitch Polska, Fitch Italia and Fitch Ratings España following the merger with Fitch Ratings Ireland. 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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