FROM THE MEDIA

Reuters: ECB's Weidmann wants digital euro to start small

According to Bundesbank President Jens Weidmann said, a digital euro, currently under design by the European Central Bank (ECB), should have a limited role initially as it could disrupt the bank sector and overly extend the role of central banking. "A gradual approach might make sense given the risks involved. That means a digital euro with a specific set of features and the option to add further functionalities later", Weidmann said. The ECB gave the digital euro a green light earlier this summer but the actual launch of the currency could still be around five years away, Reuters reports. Read more

Bloomberg: BoE urges EU to play ball on post-Brexit clearing

In an interview for Bloomberg, Bank of England (BoE) Governor Andrew Bailey urged the EU to decide on post-Brexit plans on clearinghouses, warning any upheaval risked a “real threat” to financial stability. Bailey also sounded a note of caution about the development of digital currencies, saying the world’s monetary system was potentially facing its biggest shakeup in a century. Read more

PYMNTS.com: The European Payments Initiative: Laying the infrastructure for Europe’s super payments app

The European Payments Initiative (EPI) exists to develop and deploy the infrastructure for a pan-European payment solution that would give merchants and consumers a range of payment choices. “The idea is that they will have a toolkit, which will allow them to accept all kinds of transactions in the retail space, and to introduce instant payments", Martina Weimert, CEO of the EPI Interim Company, told PYMNTS.com. The digital wallet will be at the center of it all, cementing the continuum of cards and value-added services, including, digital identities. Read more

MAIN EVENTS

• European Parliament: ECON Committee meeting

• FSI-IADI ‘The Evolving Safety Net: building effective financial safety nets to address emerging risks’ event

• Council Financial Services Committee

• Council Working Party on Tax Questions (Indirect Taxation)

• Publication of European Court of Auditors report on the EU’s surveillance of member countries’ exiting a macroeconomic adjustment program

• EFIPP (Europol Financial Intelligence Public Private Partnership) Plenary meeting

For a full-year overview of key financial regulation events: click here

FROM THE EBF MEMBERS

FROM THE INSTITUTIONS

European Commission: Fourth bond issuance maintains strong momentum for EU borrowing for recovery

The European Commission has today raised a further €9 billion to support Europe's recovery from the coronavirus crisis and its consequences, through the fourth NextGenerationEU bond issuance since the start of the program in mid-June. The European Commission issued a 7-year bond due on 04 October 2028. The bond was largely oversubscribed with books exceeding €103 billion. Read more

ECA: Upcoming audit report on the EU’s action to stimulate sustainable investments

On Monday 20 September, the European Court of Auditors (ECA) will publish a special report on the EU’s actions to stimulate sustainable investments. In the report, EU auditors have examined whether EU financial support follows consistent sustainability criteria and contributes to generating sustainable investment opportunities. The report can feed into the implementation of the 2021 Strategy for Financing the Transition to a Sustainable Economy that will finalize and build on measures initiated under the 2018 Sustainable Finance Action Plan. Read more

ECB: The IMF’s role in sovereign debt restructurings

This report by the European Central Bank (ECB) focuses on the international architecture for sovereign debt restructurings (SODRs), as seen through the lenses of the International Monetary Fund (IMF) and with special attention to the role that the Fund can play in facilitating orderly restructuring processes. Read more

FROM THE EBF

BCBS consultation on Prudential treatment of cryptoasset exposures: EBF response

The European Banking Federation (EBF) has responded to the consultation of the Basel Committee on Banking Supervision on the prudential treatment of crypto-asset exposures. During the development of the regulatory framework, it will be important to ensure a level playing field between the banking sector and market participants who are active in the issuance and trading of crypto-assets while setting the right incentive for banks to engage with crypto-assets. The EBF encourages the Basel Committee to take into due consideration the discussion taking place in its member jurisdictions, such as the discussion in the EU around the MiCA proposals. Read more

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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European Banking Federation