EBF MORNING BRIEF Wednesday 19 October 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 FT: EU financial services Chief calls on US to create new crypto rules The European Commissioner for financial services Mairead McGuinness has urged US politicians to draw up sweeping new rules to govern the crypto industry, warning that digital assets could pose a threat to financial stability if left to grow unchecked. The EU’s financial services Chief told the Financial Times (FT) that any regulation imposed on the industry would need to be global to work. Read more EURACTIV: ECB must step in to tackle fossil and climate inflation Given banks’ role in the economy, the European Central Bank (ECB) needs to green its refinancing operations, writes Rens van Tilburg in an opinion piece on EURACTIV. By retooling its Targeted Longer-Term Refinancing Operations (TLTROs) program to be focused on sustainability objectives, ECB could incentivize commercial banks to lend more money for green investment while making green borrowing cheaper. Read more
PYMNTS.com: Branches keep cash alive in underserved communities
After years of retreating, physical bank branches are having a small resurgence. As reported by PYMNTS.com, governments in Spain and the UK introduced measures to prevent rural citizens from losing access to in-branch financial services. 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
Finance Denmark: Strong dollar helps Danes hold on to US equities
Danes with American shares can be happy that the strengthened dollar has mitigated their price loss when they convert the value of their shares into Danish kroner. According to Finance Denmark, a number of Danish companies can indeed benefit from a strong dollar, as much of their sales are in the US, where settlement is made in dollars. Read more (DK) ABI: Debt crisis, more flexibility to banks The Italian Banking Association (ABI) has published an article by Giovanni Sabatini, General Director at ABI. In the article, he discusses the debt crisis and calls for further flexibility in the regulatory framework for banks. This would avoid increasing the number of companies' insolvency crises. Read more (IT)
Finance Latvia: Latvian residents defrauded of 8 million euros in 2022
By the end of September 2022, the amount of money fooled by various types of fraud schemes and self-approved payments is estimated at 8.1 million euros. Finance Latvia shares tips on how to avoid becoming a victim of financial fraud. Read more (LAT) |
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FROM THE INSTITUTIONS
ESMA: ACER and ESMA enhance cooperation to strengthen oversight of energy and energy derivative markets
The EU Agency for the Cooperation of Energy Regulators (ACER) and the European Securities and Markets Authority (ESMA) are strengthening their cooperation to further improve information exchange and avoid potential market abuse in Europe’s spot and derivative markets. Read more
ECB: Panetta on the prototyping of user interfaces for Digital Euro
Fabio Panetta, Member of the Executive Board of the European Central Bank (ECB) sent a letter to Irene Tinagli, Chair of the Committee on Economic and Monetary Affairs (ECON) on the prototyping of user interfaces for a digital euro. "The selection of these companies for the prototyping exercise has no influence on any potential future procurements or any other collaboration in the subsequent phases of the project," he writes. Read more BIS: API standards for data-sharing A survey by the Consultative Group on Innovation and the Digital Economy (CGIDE) established at the Bank for International Settlements (BIS) Representative Office for the Americas shows that there is a common interest in implementing data-sharing with the aim of increasing efficiency and promoting cooperation. 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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