EBF MORNING BRIEF Wednesday 17 January 2024 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
CoinDesk: EU banking watchdog extends anti-money laundering measures to cover crypto firms
The EU banking watchdog issued guidance for crypto firms to comply with its anti-money laundering and terrorist-financing requirements. By extending the scope of its existing measures to cover crypto, the European Banking Authority (EBA) "harmonizes the approach" that crypto asset service providers (CASP) across the EU should adopt to combat financial crime, it said in a press statement seen by CoinDesk. Read more
Euromoney: Efforts to unify Europe’s payments schemes meet head-on
Collaboration between national banks has seen widespread adoption of mobile payment schemes. Euromoney argues that the French and German-led approach of focusing on a single European scheme could therefore be seen as a distraction. But is it the only real way of keeping US payment companies at bay? Read more
Finextra: Santander hoovers up tech talent for digital overhaul
Banco Santander recruited 4500 employees with tech skills in 2023 as it undergoes a comprehensive digital overhaul. Talent recruitment remains an ongoing project, with 400 vacancies for technology roles still yet to be filled, Finextra reports. Read more |
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MAIN EVENTS Council Horizontal Working Party on Cyber Issues World Economic Forum 'Rebuilding Trust' Annual Meeting |
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FROM EBF MEMBERS
Finance Finland: Finns average in financial literacy but leaders in digital financial literacy, shows OECD comparison
Finland exceeded the average in the OECD’s international survey of adult financial literacy across 39 countries. “Finland’s score is not disheartening, but it is clear we need more resources for financial literacy education in teacher training and vocational education”, notes Päivi Luna, head of welfare financing at Finance Finland. Read more
Finance Norway: Strong competition in the banking market
In a letter to the Ministry of Finance, Finance Norway concludes that competition in the banking market is strong. The response letter also sheds light on several factors of importance for profitability and competition in the banking market. Read more (NO)
FBF: Latest figures on personal loans
Loans to individuals reached 1,527 billion euros at the end of November 2023, figures by the French Banking Federation (FBF) show. The French fixed-rate real estate loan model protects borrowers against rising rates, reaching an average of 3.52% in October. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: Priorities to help banks withstand headwinds
European Central Bank (ECB) supervisory priorities for 2024-26 reflect the new and persistent risks that banks are facing. In this blog, Kerstin af Jochnick and Mario Quagliariello stress the key priorities, plan of action, and expectations for banks. Read more
EBA: Targeted amendments to the prudent valuation framework
The European Banking Authority (EBA) published a consultation on targeted amendments to the Regulatory Technical Standards (RTS) on prudent valuation, aiming to promote a more harmonized application of the RTS and to reduce the observed variability of additional value adjustments (AVAs) under the core approach, as well as to set the rules for the application of the prudent valuation framework in extraordinary circumstances. Read more
EP: Final vote on better data access and more robust EU markets
The European Parliament (EP) has adopted rules to improve the transparency of financial market data, optimize orderly trading, and prohibit payments for placing client orders. Amendments to the Markets in Financial Instruments Directive (MiFID II) and Amendments to the Markets in Financial Instruments Regulation (MiFIR) are the main pieces of legislation regulating investment services and activities of EU-based trading venues Read more |
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FROM THE EBF
EBF: Understanding Credit Scoring: Techniques and Distinction from Artificial Intelligence
The European Baking Federation (EBF) has published a joint industry statement regarding the definition of artificial intelligence in the Artificial Intelligence Act. The associations co-signing this statement emphasize the necessity for amending the relevant recital on AI systems, to ensure legal clarity and distinguish between AI and traditional techniques when the latter are used in isolation. Read more
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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.
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