EBF MORNING BRIEF Wednesday 28 September 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 weighs climate risks in test that may hit bank dividends European regulators are considering whether to make potential losses from climate change a regular part of bank stress tests, an approach that could weigh on the dividends lenders pay to investors. According to people heard by Bloomberg, deliberations have just begun, meaning climate would only be included in the 2025 examination at the earliest. Read more
Reuters: BoE won't take 'risky bets' to help City's competitiveness
The Bank of England (BoE)'s new objective of helping the financial sector remain globally competitive should not encourage risky bets on regulatory standards to win business, BoE executive director Victoria Saporta said. As reported by Reuters, Conor Lawlor, managing director at UK Finance said it was important to make the most of the appetite for reform, as it won't be around forever. Read more
CoinDesk: Blockchain securities trading do not need more rule changes
Securities trading using distributed ledger technology (DLT) doesn’t require further changes to market transparency law, the European Securities and Markets Authority (ESMA) said in a report. However, the agency did concede its guidance will need to adapt to the Web3 era, CoinDesk reports. 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 HUB: What will the introduction process of the euro look like An extremely large number of stakeholders participate in the process of introducing the euro, from public authorities and regulators, banks and entrepreneurs to citizens. The Croatian Association of Banks (HUB) has put together a guide on what will happen in the next period to make this process as simple as possible to understand. Read more (HR)
ABBL: European Digital Identity framework
The European Commission proposal introduces a new European Digital Identity Wallet. The Luxembourg Banker's Association (ABBL) is part of the European Credit Sector Associations eID Task Force and is closely monitoring the latest developments. Current work is concentrated on the establishment of a Toolbox. Read more
ABI: Measures for access to corporate credit on energy
The Italian Banking Association (ABI) has sent to the Associates a letter summarizing the main points of the “Aid ter” law decree. In particular, the circular indicates some measures to facilitate access to credit for businesses in relation to expensive energy. Read more (IT) |
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FROM THE INSTITUTIONS ESMA: Report on the DLT Pilot regime The European Securities and Markets Authority (ESMA) has published its Report on the distributed ledger technology pilot regime (DLT Pilot). ESMA provides guidance on certain technical elements and makes recommendations on compensatory measures on supervisory data to ensure a consistent application by DLT market infrastructures. Read more
ECB: The impact of rate increases on firms and workers
"Many indicators show the economy is going to slow down and we are now making sizeable interest rate increases," says European Central Bank (ECB) Chief Economist Philip R. Lane. This should make it clear to businesses and workers that demand conditions will become less favourable. Read more
EC: Scaling up sustainable finance in low and middle-income countries
The High-Level Expert Group (HLEG) of the European Commission (EC) on scaling up sustainable finance in low and middle-income countries met in Brussels for the first time. The group will reflect on the challenges and opportunities of sustainable finance in partner countries and provide recommendations on how to scale up funding from the private sector. Antoni Ballabriga, Global Head of Responsible Business, Banco Bilbao Vizcaya Argentaria and Chair of the EBF Sustainable Finance Expert Group is part of the group. 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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