EBF MORNING BRIEF Wednesday 6 April 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: Banks tiptoe into EU tussle over reining in foreign lenders Banks have begun quietly trying to persuade the European Union to tone down proposals to toughen scrutiny of non-EU lenders to ensure the planned measures don't also curb companies' access to international finance. According to Reuters, bankers fear that the political fallout from Brexit is prompting Brussels to build up autonomy in EU banking while making it harder for companies to shop around globally for services. Read more
Bloomberg: ESG rating firms reeling as war exposes Russian blind spot
Vladimir Putin’s invasion of Ukraine is shining a spotlight on the largely unregulated business of ESG ratings after investments billed as socially conscious bought into a regime that’s now being accused of war crimes. Regulators are now calling for urgent work to clarify the myriad standards and practices being used to produce such ratings, Bloomberg reports. There are more than 600 standards and frameworks, data providers, ratings, and rankings that are working to measure ESG-related risks, according to the European Banking Federation (EBF). Read more
CoinDesk: EU Consultation looks at issues with a digital euro
If the European Union issued a digital euro, it would need to establish laws in areas such as privacy and anti-money laundering, the European Commission said in a consultation. As reported by CoinDesk, the consultation is open until May 3 and asks questions about issues with a potential digital euro such as the ease of use, availability, fees, standards, and caps on holdings needed to safeguard financial stability. 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 THE EBF MEMBERS
FBF: Financial education: Interview with Maya Atig on France Bleu
Maya Atig, Managing Director of the French Banking Federation (FBF), was a guest on the program “Les Experts”, where she discussed financial education week. In her interview, she spoke about the « J’invite 1 banquier(e) dans ma classe » initiative to sensitize pupils on the notions of budget, means of payment, savings, and security. Read more (FR) Finance Latvia: SIA “PayRay” joins Finance Latvia Finance Latvia Association welcomes a new associate member: SIA “PayRay”. SIA “PayRay” renders business financing services from short-term and long-term business loans to leasing and factoring and, as an associate member, will participate in the Leasing Committee and in the Debt Collection Working Group. Read more AEB: Alejandra Kindelán, new AEB president The General Assembly of the Spanish Banking Association (AEB) has unanimously agreed to elect Alejandra Kindelán as president of the AEB for a period of four years, replacing José María Roldán. Until now, she has been Director of Research, Public Policy, and Institutional Relations at Banco Santander. She has also been an executive vice-president of the Business Advisory Council to the OECD and president of the Economic and Monetary Affairs Committee of the European Banking Federation (EBF). Read more (ES) |
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FROM THE INSTITUTIONS
ESMA: ESG funds provided better returns for investors in 2020
The European Securities and Markets Authority (ESMA) published its fourth annual statistical report on the cost and performance of EU retail investment products. A new finding this year is that UCITS with an environmental, social, and governance (ESG) strategy (including equity, bond, and mixed funds) outperformed their non-ESG peers, and were also overall cheaper. Read more EBA: Survey on the application of the infrastructure supporting factor The European Banking Authority (EBA) launched a survey for banks on their experiences with the application of the so-called infrastructure supporting factor in accordance with the Capital Requirement Regulation (CRR 2). Besides assessing the application of the supporting factor, the survey aims at providing valuable information on the materiality of infrastructure project loans across EU banks, irrespective of whether credit institutions specialize in infrastructure lending or not. Read more
ECB: Inflation and energy prices
The energy shock is driving current inflation levels, the European Central Bank (ECB) Chief Economist Philip R. Lane tells in an interview with Antenna TV. In March, energy prices were 45% higher than a year ago "but we think inflation will be much lower next year and the year after", he says. Read more |
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FROM THE EBF
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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