| EBF MORNING BRIEF Wednesday 27 July 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
Reuters: Interlinked climate risks could ripple through euro zone
Climate shocks could quickly ripple through the euro zone economy as financial interlinkages amplified dangers and losses, a study by the European Central Bank (ECB) and European Systemic Risk Board (ESRB) finds. As reported by Reuters, an orderly green transition would reduce corporate defaults by up to a fifth in 2050, according to the report. Read more
Bloomberg: ‘Cryptojacking’ attacks on Financial Firms surged
Hackers are increasingly targeting financial firms such as banks and trading houses with attacks designed to use their computer systems to mine cryptocurrencies, Bloomberg reports. Data shows that the number of so-called cryptojacking attacks on financial companies more than tripled in the first half from a year earlier. Read more
Finextra: BBVA automates environmental data management
Spanish bank BBVA ha rolled out a cloud-based system designed to automate the management of environmental data related to its buildings. According to Finextra, the technology will be help the bank hit its eco-efficiency plan targets for 2025, which include reducing electricity consumption per employee by 10%, total energy consumption by 7%, water and paper consumption by 11%, and net waste by 4%. Read more |
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MAIN EVENTS
For a full-year overview of key financial regulation events: click here
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REGISTRATION OPEN! EUROPEAN BANKING SUMMIT 2022! |
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 | This September, the European Banking Summit 2022 will explore how the financial sector can contribute to building a resilient economy and society as Europe continues on its path to a green and digital transformation.
The 6th edition of the summit will take place in Brussels and bring together a combined in-person and online audience of more than 500 banking representatives, policymakers and senior experts. The event will offer an overview of the latest developments in the EU banking policy, examine how technology is changing the financial system and how can banks play a key role in achieving Europe’s sustainability goals. |
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FROM THE EBF MEMBERS
SBA: Sustainable Finance: The time has come
Climate change affects us all, including the financial sector. For this reason, it is the declared goal of the Federal Council's financial market policy and the strategy of the Swiss Bankers Association (SBA) to position the Swiss financial center as the world's leading location for sustainable finance. Read more (DE)
FBF: Signature of an agreement on the revaluation of minimum wages
In the current context of inflation which in France has led to several reassessments of the amount of the annual minimum wage during 2022, the French Banking Federation (FBF) wished to reaffirm its mobilization so that the minimum salaries of the Branch, and therefore the salaries of all of the employees of the banks that fall within its scope of application remain systematically above the national minimum wage. Read more (FR)
UK Finance: Challenges and opportunities for investment banking
UK Finance welcomed Nathanaël, Executive Director for Authorisations, Regulatory Technology, and International Supervision at the Prudential Regulation Authority (PRA) for a keynote speech. Nat highlighted the relationship between “safety” and competitiveness. An investment bank in the UK will set itself apart competitively where, owing to the robustness of its financial and operational resilience processes, it will be regarded as a “safe haven” for individuals and firms alike. Read more |
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FROM THE INSTITUTIONS
ECB: The equality, diversity and inclusion charter
The European Central Bank (ECB) have published a system-wide equality, diversity and inclusion charter for European central banks and banking supervisors. Organizations achieve more with diverse and equal working cultures. Signing the charter cements the commitment to fostering an inclusive European banking sector. Read more
ESRB: The macroprudential challenge of climate change
Climate-related risks can spread quickly throughout the financial system and harm companies and banks alike. The European Systemic Risk Board (ESRB) joint report with the European Central Bank (ECB) calls for macroprudential and microprudential policies to work together to mitigate these risks. Read more
SRB: MREL dashboard Q1.2022
The Single Resolution Board (SRB) has published its minimum requirement for own funds and eligible liabilities (MREL) dashboard for Q1.2022. “I am pleased, that despite the current economic uncertainty, banks continue to make progress in building up their levels of MREL. This is important funding that acts as a shock absorber in a time of crisis, and helps to ensure that the preferred strategy for dealing with a bank in trouble is available, and workable, at short notice,” said SRB Chair Elke König. Read more |
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FROM THE EBF
EBF response to the European Commission’s targeted questionnaire on Open Finance
The EBF has responded to the European Commission’s targeted consultation on Open Finance. The EBF response notes that the focus for an Open Framework should be in addressing existing gaps in data sharing aspects, including consumer protection, technical obstacles, liability, and a fair distribution of value and incentives for all market actors. 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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