EBF MORNING BRIEF Wednesday 6 December 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
Reuters: ECB's Schnabel defends smaller balance sheet
The European Central Bank should keep a leaner balance sheet and have banks borrow from it when they need cash, ECB board member Isabel Schnabel told Reuters, just as the debate heats up on how central banks should operate in a world of revived inflation. Read more
Bloomberg: ECB: No interest-rate cuts expected in short term
The European Central Bank (ECB) won’t cut borrowing costs soon if its forecast on the economy proves correct, according to Governing Council member Boris Vujcic. As reported by Bloomberg, policymakers gather for their final meeting of the year in Frankfurt next week, where they are almost certain to keep rates on hold for a second time. Read more
Risk.net: EBA seeks to tighten up uneven prudent value adjustments
The European Banking Authority (EBA) intends to consult soon on revising a regulatory technical standard (RTS) that sets out how banks determine a prudent haircut on the assets they hold at fair value, to reflect any discount that might be needed to sell them immediately. This is what Marco Crotti, a policy expert at EBA told Risk.net. Read more |
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The engage Templates: Addressing Disclosure Requirements for EU Taxonomy Alignment Thursday, 14 December 2023 11 am CET - ONLINE |
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 | The ENGAGE Consortium will host a webinar on 14 December from 11:00-12:30 CET to present the ENGAGE templates and logic for EU Taxonomay compliance. The Event will also feature a panel discussion on climate-related disclosures for mortgages and loans for home renovations and will also detail how lending institutions can get involved.
ENGAGE for ESG is an initiative co-funded by the European Union led by European DataWarehouse including a consortium of six entities with the purpose of jointly creating
an innovative disclosure framework for mortgages and renovation financing based on
the EU Taxonomy. Since its creation in November 2022, the ENGAGE consortium has
focused on creating standardised disclosure templates for mortgage and home renovation loans in line withthe sustainability requirements of the Climate Delegated Act with the
aim of minimising the reporting burden for financial institutions.
During the coming two years, these templates will be updated and expanded to
incorporate the most relevant European regulations. The templates will be
then operationalised through a dedicated IT infrastructure, the ENGAGE Portal.
Two leading European lenders UCI and WOONU are part of the consortium and
will be the first ones to test the ENGAGE templates with real data.
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FROM EBF MEMBERS
FBF: Training of employees in the bank
The French Banking Association (FBF) publishes its 2023 Training Report. With 488 million euros spent in professional training, an increase of 16% compared to 2021, the industry stands out for its dynamic policy of training and support to employees. Read more (FR)
Finance Norway: Free skills development in sustainability & technology
In 2024, finance employees will have access to training in sustainability and technology via a state-funded industry program. Finance Norway writes. The program results from the collaboration between businesses, the state, and education providers. Read more (NO)
CBA: Czechs and loans
This year's Christmas will cost the average household approximately 12,000 crowns. Similar to last year, 3% percent of people are considering a loan to buy Christmas presents, and almost half of them would borrow from a bank. This follows from a survey by the Czech Banking Association (CBA) and research agency Ipsos. Read more (CZ) |
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FROM THE INSTITUTIONS
ECB: We need to remain vigilant
The November flash inflation estimate was a pleasant surprise, European Central Bank (ECB) Executive Board member Isabel Schnabel says. But after more than two years of high inflation, we need to remain vigilant and err on the side of caution. Read more
ESMA: Making finance work for a sustainable future
The European Securities and Markets Authority (ESMA) contributes to the transition towards a more sustainable economy in line with the European Green Deal and global efforts to address the climate crisis. Read more
EIOPA: Monthly update of the symmetric adjustment of the equity capital charge for Solvency II
The European Insurance and Occupational Pensions Authority (EIOPA) has published technical information on the symmetric adjustment of the equity capital charge for Solvency II at the end of November 2023. Read more |
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FROM THE EBF
EBF calls for a fitness check on sustainable finance framework
The reporting of ESG information as such is relatively new but early experience shows the implementation and operational challenges not only with the data collection, analysis, monitoring, and control for which massive investments in IT and operational processes were necessary but also the need for simplification given that the Sustainable Finance (SF) Framework has become excessively complex, inconsistent and difficult to apply. Read more
Paper trail ends in jail time for 1013 money mules
Law enforcement agencies from 26 countries, in collaboration with Europol, Eurojust, INTERPOL, and several private industry partners, have once again joined forces to combat a key facilitator of money laundering: money mules and their recruiters. In June, October, and November 2023, several operational phases identified 10759 money mules and 474 recruiters, leading to the arrest of 1013 individuals worldwide. Read more
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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This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v.barbieri@ebf.eu
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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