EBF MORNING BRIEF Wednesday 19 January 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 Bloomberg: EU to extend UK post-Brexit clearing waiver until 2025 Commissioner Mairead McGuinness said she will propose extending a temporary waiver that allows banks to clear trades in the UK through to June 2025, Bloomberg reports. “We will launch a public consultation on measures to make the EU an attractive clearing hub and on the supervisory arrangements,” for EU clearinghouses. “This consultation will feed into a strategy on clearing to reduce in medium-term our overreliance” on the UK financial markets infrastructure, she said. Read more Reuters: EU advisers concerned about plan for green labels on gas and nuclear investments Experts advising on the EU sustainable finance taxonomy are concerned a draft plan to include gas and nuclear relies too heavily on promises to make those fuels green in the future, rather than assessing their real impact today. "The new criteria do have weaknesses that mean that they're not well suited to sustainable finance products," Nathan Fabian, who chairs the expert group told Reuters. Read more Finextra: Serrala and BNP Paribas enter global referral partnership According to Finextra, Serrala and BNP Paribas are joining forces to bring a strong value-added AR offering to BNP Paribas enterprise customers. With Serrala as a technology partner, BNP Paribas’ customers will have firsthand access to a strong and innovative AR Automation portfolio, covering the order-to-cash (O2C) lifecycle. Read more |
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MAIN EVENTS EBF Secondary Market Working Group online meeting
For a full-year overview of key financial regulation events: click here
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COMING TODAY! Cloud Computing Transformation in Financial Services: A look at Cloud Migration Strategy and Cloud Security Compliance webinar |
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| | The EBF/Reply joint webinar on Cloud Computing in financial services is coming today! Drawing on the results of a survey conducted by Reply covering more than 100 financial institutions in the EU and the UK and on the lessons learned from 1,000 cloud projects with financial institutions, this event will look at the main challenges around Cloud Migration as well as Security and Compliance considerations. |
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TUNE IN TO DISCOVER MORE! |
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FROM THE EBF MEMBERS BPFI: Supporting Ireland’s success The Banking & Payments Federation Ireland (BPFI) published a report on Ireland’s international banking sector. The publication shows Ireland is moving up in rankings, standing at 17th largest international banking sector in the world and 8th largest in the EU in Q4 2020, up from 19th and 9th a year earlier. The report shows Brexit has been a key driver of change in the sector. Read more
SBA: Stamp duty changes: An investment in Switzerland's future
Swiss citizens will be asked to vote on whether to abolish stamp duty on equity capital. At the virtual information session organized by the Swiss Bankers Association (SBA), political and business representatives shared their views on the project. Marcel Rohner, SBA Chairman, and Jörg Gasser, SBA CEO talked about the importance of the project for the Swiss economic and financial center. Read more (FR)
Finance Denmark: 217,000 Danes now have a share savings account
According to Finance Denmark, 114,000 Danes opened a share savings account in 2021, increasing the number of share savings accounts by 110%. "This can be especially beneficial for less experienced investors, who may perceive the more technical tax rules that otherwise apply when investing ordinary savings, as a barrier to getting started investing, ”said Birgitte Søgaard Holm, Director of Investment & Savings at Finance Denmark. Read more (DK) |
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FROM THE INSTITUTIONS
ESMA: 2021 report on accepted market practices under MAR
The European Securities and Markets Authority (ESMA) has published its annual report on the application of accepted market practices (AMPs) in accordance with the Market Abuse Regulation (MAR). Read more
ESRB: ASC publishes report on digitalization and the future of banking
A new report by the European Systemic Risk Board (ESRB)’s Advisory Scientific Committee (ASC) takes stock of the many forces affecting Europe’s banking system, including climate change, the growth of non-banks, over banking, and the COVID-19 pandemic, while looking at how digitalization could change financial services in the future. Read more EBA: Discussion Paper on its preliminary observations on selected payment fraud data under the Payment Services Directive The European Banking Authority (EBA) published its preliminary observations on selected payment fraud data under the Payment Services Directive (PSD2), as reported by the industry for the years 2019 and 2020. This Discussion Paper provides an overview of the preliminary patterns observed across a number of different payment instruments, including some inconclusive patterns, which require additional analysis. 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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