| EBF MORNING BRIEF Wednesday 7 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: Kazaks says broad, protracted recession could slow hikes
The European Central Bank (ECB) may slow interest-rate increases if a deep euro-area recession damps inflation, according to ECB Governing Council member Martins Kazaks. He also said the ECB won’t hesitate to lift rates above the so-called neutral rate, where monetary policy is neither expansionary nor restrictive, Bloomberg reports. Read more
Reuters: Russia's VTB open to swaps to reclaim frozen assets
According to Reuters, Russia's VTB Bank is interested in an asset swap with Russian subsidiaries of European lenders as it seeks to recover $9.86 billion in frozen assets it has in the West, its Chief Executive Andrei Kostin said. "Even before European sanctions were announced, we started the discussion and saw great interest, namely from European financial institutions, for an exchange," Kostin told reporters. Read more
S&P Global Market Intelligence: Bank windfall taxes could spread further in Europe amid fight against inflation
More European countries could introduce windfall taxes on banks if inflation continues to rise and cost-of-living pressures intensify. Many European governments have already imposed windfall taxes on oil and gas companies. As reported by S&P Global Market Intelligence, banks are likely to become another target, particularly in countries with high debt-to-GDP ratios, such as Greece and Italy. 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
BPFI: Housing Market Monitor (Q2 2022)
The latest Housing Market Monitor Q2 2022 published by Banking & Payments Federation Ireland (BPFI) shows that the housing supply needs to continue to increase in order to moderate house price increases and enhance affordability in the market. Read more
Finance Denmark: New big bill on its way to Danish investors
Two recent EU judgments put the VAT exemption for investment funds under severe pressure. According to Finance Denmark, this will result in additional annual costs, which will make it more expensive for ordinary Danes to invest. Read more (DK)
NVB: Campaign to help homeowners become more sustainable
The Dutch Banking Association (NVB) is launching a campaign pointing out to homeowners that the bank can and wants to help make their homes more sustainable. Under the name 'All signals are green', homeowners are made aware of the possibilities offered by the bank via online videos, radio commercials, and social media. Read more (NL) |
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FROM THE INSTITUTIONS
EIOPA tracks progress on Solvency II data quality
The European Insurance and Occupational Pensions Authority (EIOPA) published its report on data quality in Solvency II reporting. The report demonstrates that the automated data quality processing solutions and advanced analytic tools together with built-in validations in the XBRL taxonomy have been effective in raising the quality of data. Read more
European Commission: Eurobarometer
Europeans continue to strongly support the EU's response to Russia's invasion of Ukraine and the EU's energy actions. This is shown by the new Eurobarometer survey released by the European Commission. The survey also shows how Europeans feel about the European Union, the economy, COVID-19, and what their concerns are. Read more
ECB: Consolidated financial statement of the Eurosystem
The European Central Bank (ECB) has published the consolidated financial statement of the Eurosystem as of 2 September 2022. Read more |
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FROM THE EBF this month
New EBF Vacancies! Work with us!
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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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