EBF MORNING BRIEF Wednesday 29 June 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: ECB to activate first line of defense in bond market
The European Central Bank (ECB) will activate the bond-purchasing firepower it’s earmarked as the first line of defense against a possible debt-market crisis on Friday, Bloomberg reports. The ECB is also working on a new bond-buying instrument to tackle fragmentation and is expected to announce something in the coming weeks. Read more
CNBC: Lagarde plays down recession, ECB to ‘move faster’ on rates
European Central Bank (ECB) President Christine Lagarde plays down the concerns about a recession in the eurozone, saying her team is ready to raise rates at a faster pace if needed. As reported by CNBC, this commitment is said to be data-dependent. Read more
Reuters: ECB to drain cash in offset to a new yield-capping scheme
The European Central Bank (ECB) will likely drain cash from the banking system to offset any bond purchases made to cap borrowing costs for indebted euro zone states, two sources told Reuters. The ECB is considering pairing the new bond-purchase scheme with auctions at which banks can park cash at the ECB for a more favorable interest rate than the ordinary rate on deposits, the sources said. Read more |
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MAIN EVENTS IEEP and IDDRI 'Think2030' conference
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FROM THE EBF MEMBERS
BPFI: Mortgage Approvals Report for May 2022
Banking & Payments Federation Ireland (BPFI) has published the latest figures from the BPFI Mortgage Approvals Report for May 2022. The latest mortgage approvals data shows continued growth in mortgage approval activity. During the month of May switching volumes and values more than doubled in year-on-year terms with switching levels at their highest ever recorded since BPFI began collecting this data in 2011. Read more
SBA: Self-regulation on sustainable finance
Two new self-regulations of the Swiss Bankers Association (SBA) set minimum requirements for sustainable development criteria in investment advice and mortgage advice. Guidelines are binding on SBA members. By enacting these new self-regulations, the SBA strengthens the position of the Swiss financial center in terms of sustainable finance and makes an important contribution to the transition to a sustainable economy. Read more (FR)
FBF: Christophe Pinault becomes Chairman of the Regional Banking Committee FBF Pays de la Loire
The Banking Committee of the French Banking Federation (FBF) Pays de la Loire has elected Christophe Pinault as its Chairman for a two-year term. "I will continue to convey the message that banks are the partners of the to succeed in meeting the economic, social and environmental challenges of our region, " declared Christophe Pinault. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: Price stability and policy transmission
The euro area is facing a complex mix of shocks that are reducing growth and pushing up inflation, says European Central Bank (ECB) President Christine Lagarde. In this environment, it is imperative for policymakers, within their respective mandates, to address the risks to the economic outlook. Read more
EBA: Decision on reporting of supervisory data from investment firms’ competent authorities to the EBA
The European Banking Authority (EBA) adopted a decision on how competent authorities supervising investment firms under the Investment Firms Regulation (IFR) will transmit supervisory data to the EBA. This Decision sets the scope, timing, and modalities of the data's submission via the European Centralised Infrastructure of Data (EUCLID). Read more
ESMA will not publish August systematic internaliser regime data for non-equity instruments other than bonds and CTP data
The European Securities and Markets Authority (ESMA) will not publish the 1 August 2022 publication of the systematic internaliser (SI) regime data for non-equity instruments other than bonds, as well as that of the consolidated tape (CTP) data. This is due to operational constraints which prevent it from performing the scheduled calculations. 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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