EBF MORNING BRIEF Wednesday 21 December 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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THE EBF MORNING BRIEF TAKES A WINTER BREAK! We will be back in January! |
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On behalf of the European Banking Federation team,
we wish you happy holidays and a joyous New Year!
Thank you for your engagement, expertise, and collaboration in 2022.
We look forward to seeing you next year!
The EBF staff members
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FROM THE MEDIA Bloomberg: The year that changed banking in Europe European banks are enjoying a period of outperformance, buttressed by four large interest rate increases in the span of just half a year. Lending income at the region’s top banks is on course to reach the highest in over a decade this year and hit a record in 2023, analysts polled by Bloomberg predict. Read more
Finextra: ECB finds strong demand for both cash and digital payments
Cash is still the most frequently used means of payment, but its share is declining according to the latest study by the European Central Bank (ECB). As reported by Finextra, the trend toward electronic means of payments has accelerated with the share of card payments up by 9 percent and contactless payments making up the majority of card payments. Read more
Reuters: There should be no 'crash' in French and European economy
The French and broader European economy should not suffer any "crash" or "hard landing", European Central Bank (ECB) member and Bank of France Head Francois Villeroy said in an interview seen by Reuters. Read more |
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MAIN EVENTS
Wednesday 21 December
Thursday 22 December Czech Presidency of the Council of the European Union IMPEL General Assembly meeting Friday 23 December For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS NVB: Climate commitment of the financial sector 90% of the financial institutions that signed the Climate Commitment in 2019 have been measuring and reporting the CO2 content of loans and investments. After mapping the CO2 content of their financing and investments, they can implement their CO2 reduction targets with concrete action plans, the Dutch Banking Association (NVB) writes. Read more (NL)
FBF: Laurent Martin new Chair of the Regional Committee
Laurent Martin becomes Chair of the Regional Committee of the French Banking Federation (FBF) Hauts-de-France banks from December 16, 2022, for a period of two years. He succeeds Guillaume Curnier. Read more (FR)
Finance Norway: Norwegian equity instruments in line with the EU's capital requirements regulations
The European Banking Authority (EBA) published an updated overview of approved equity instruments in accordance with the EU capital requirements regulations, which includes Norwegian capital instruments for the first time. The fact that Norwegian capital instruments are listed as approved pure core capital instruments is an important clarification, says Erik Johansen, Director of Banking and Capital Markets at Finance Norway. Read more (NO) |
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FROM THE INSTITUTIONS ECB: Are banks ready to weather rising interest rates? The banking sector is sound enough to handle the effects of rising interest rates on their balance sheets, conclude European Central Bank (ECB) Vice-President Luis de Guindos and Supervisory Board Chair Andrea Enria in The ECB Blog, after assessing bank resilience under different macroeconomic scenarios. Read more
ESMA: Guidelines on reporting under EMIR
The European Securities and Markets Authority (ESMA) is clarifying the legal provisions on reporting and data management under the amended EMIR rules and providing practical guidance on their implementation. Read more
EIOPA: Report on sanctions under the IDD in 2021
The European Insurance and Occupational Pensions Authority (EIOPA) published its third annual report on administrative sanctions and other measures imposed during 2021 under the Insurance Distribution Directive (IDD). Read more |
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FROM THE EBF
Proposal for review of the Distance Marketing of Financial Services Directive: EBF key priorities
The EBF welcomes the European Commission’s proposal for a new Directive on Distance Marketing of Financial Services (DMFSD). We consider the DMFSD to be overall short, simple, and agile as well as having a technology-neutral approach. These features allow it to be effective to compensate, in particular, for shortcomings in directives that do not cover certain aspects of consumer protection. Read more
EBF: Joint Industry Letter on the Importance of Advice
The European Commission's Retail Investment Strategy can help secure investor protection and unlock the full potential of retail investments. However, the inclusion of an EU-wide ban on commission-based advice risks undermining this opportunity by restricting consumers’ access to investment advice and being inconsistent with several CMU objectives. Read more
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.
For questions or suggestions contact v.barbieri@ebf.eu
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