EBF MORNING BRIEF Wednesday 29 March 2023 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: Regulators should review CDS market after bank turmoil
Global financial regulators should take a closer look at credit default swaps after relatively small transactions in the market amplified last week’s banking turmoil, according to the European Central Bank (ECB)’s top oversight official. As reported by Bloomberg, European regulators have sought to underline that they have a close watch on risks and that their banks are on a sounder footing. Read more
Reuters: Europe's banks in 'better place' than US in terms of commercial property risk Europe's banks face less threat from some of the problems now showing in the commercial real estate markets than their U.S. counterparts, analysts at JPMorgan have said. JPMorgan said an important part of its positive view on European CRE was the willingness of European banks to continue providing finance to the sector as wholesale funding markets have started to clam up, Reuters writes. Read more S&P Global Market Intelligence: Swedish bank shares attract short sellers amid commercial real estate fears Large Swedish lenders are among the most shorted European banking shares, according to S&P Global Market Intelligence data. The short positions come amid fears that inflation and higher interest rates will adversely impact commercial real estate and housing in Sweden, to which the country's banks have large exposures to. 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
AEB: Spain is prepared to face the turbulence of international markets
María Abascal, general director of the Spanish Banking Association (AEB), stressed the solidity of the Spanish banking sector against the current turmoil in international financial markets. Besides, she called for moving forward in the creation of a single deposit guarantee fund to complete the European Banking Union. Read more (ES)
SBA: Takeover of Credit Suisse by UBS During its annual press conference, the Swiss Bankers Association (SBA) took a position on the current situation of the Swiss financial center through the voice of its President, Marcel Rohner, and its Vice-CEO, August Benz. President Marcel Rohner stressed that the SBA approved the takeover of Credit Suisse by UBS and he is convinced that there will be no need to appeal to taxpayers' money. Read more (FR)
CBA: Monitor website The Czech Banking Association (CBA) launched a new website with information on the development of the economy and the banking sector in the Czech Republic, supplemented by comments from CBA experts. Read more (CZ) |
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FROM THE INSTITUTIONS ECB: Climate risk stress test of our balance sheet In 2022, the European Central bank (ECB) conducted the first climate risk stress test of the euro area central banks’ balance sheets to analyze how sensitive the financial risk profile can be to climate-related risk scenarios and improve our risk assessment capabilities. The results show that both transition risk and physical risk have a material impact on the risk profile of the Eurosystem balance sheet. Read more
ESMA: Guidance on fractional shares The European Securities and Markets Authority (ESMA) has issued a Public Statement addressing investor protection concerns raised by derivatives on fractions of shares. The statement highlights that derivatives on fractions of shares are not corporate shares, and firms should not use the term fractional shares when referring to them. Read more
EBA: New indicators to identify potential causes of consumer harm The European Banking Authority (EBA) published, for the first time, a new set of indicators, which aim at identifying detriment to consumers arising from the misconduct of financial institutions offering retail banking products in the EU. The indicators show consumers’ experience with financial services and will complement other sources of information that the EBA already uses to decide on its consumer protection priorities. Read more |
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FROM THE EBF
EBF: European banking industry sets out a vision for digital euro
The European Banking Federation (EBF) has published a vision paper on a Digital Euro Ecosystem. It argues that a retail digital euro could be envisaged in the mix of new tools and solutions to meet evolving payment needs, as long as it adds value to consumers, is appropriately designed, in close cooperation with the private sector, and mitigates ex ante the accompanying risks. 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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