EBF MORNING BRIEF Wednesday 15 February 2023 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
Bloomberg: EU bonus cap hasn’t dampened bankers’ risk appetite
The EU cap on banker bonuses has failed to rein in risk-taking at Europe’s biggest banks, one of the purported objectives of the regulation, according to a study seen by Bloomberg. The scope of the study was limited to top executives at the banks. Read more
Reuters: Euro zone's employment record complicates life for ECB
Eurozone employment surged more than expected to a new record high last quarter as a surprisingly resilient economy avoided a recession, Reuters reports. Quick employment growth highlights just how tight the labor market is and signals a problem for the ECB in its fight to bring inflation back to 2% from the double-digit territory last autumn. Read more
Finextra: UK Government opens BNPL consultation
The UK Government has launched its long-anticipated consultation on rules to crack down on the unregulated buy now, pay later (BNPL) sector. As reported by Finextra, the consultation will propose placing BNPL firms under the eye of the Financial Conduct Authority and giving consumers the right to report complaints to the Financial Ombudsman. 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: Household Credit Observatory
The latest Household Credit Observatory (OCM) report found that the household loan holding rate fell for the fourth year consecutively, to settle at 43.4 percent, its lowest level since 1989. As reported by the French Banking Federation (FBF), the report also signals a further decline in consumer credit. Read more (FR)
Finance Denmark: Appetite for loan restructuring is low
According to figures by Finance Denmark, homeowners do not show much interest in rescheduling their mortgages. At the same time, the demand for loan offers for home purchases is at the second lowest level since the statistics began in 2017. Read more (DK)
UK Finance: New Appointments to the Board
UK Finance has announced two new appointments to the UK Finance Board as of 1 February 2023. Robin Bulloch, Chief Executive Officer and Executive Director, TSB Bank plc; and Wayne Lawson Turnbull, UK Chief Operating Officer for UBS AG London Branch and EMEA Regional Operating Officer for UBS Investment Bank, have joined the Board. Read more |
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FROM THE INSTITUTIONS EBA: Final draft technical standards defining the homogeneity of the underlying exposures in STS securitization The European Banking Authority (EBA) published its final draft Regulatory Technical Standards (RTS) setting out the conditions for the assessment of the homogeneity of the underlying exposures in a pool of a Simple Transparent and Standardised (STS) on-balance-sheet securitization. Homogeneity is one of the key simplicity requirements. Read more
ESRB: Report on advancing macroprudential tools for cyber resilience
The European Systemic Risk Board (ESRB) published a report to advance macroprudential tools for cyber resilience. The report highlights the need to boost cyber resilience and encourages EU authorities to make progress on Cyber Resilience Scenario Testing, Systemic Impact Tolerance Objectives, and Financial crisis management tools. Read more
ECB: Consolidated financial statement of the Eurosystem
The European Central Bank (ECB) has published the consolidated financial statement of the Eurosystem as at 10 February 2023. 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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