EBF MORNING BRIEF Wednesday 22 November 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
POLITICO: EU to exempt banks from new green rules
A new push from member countries to exempt financial institutions from proposed EU rules on Corporate Sustainability Due Diligence risks further complicating already thorny negotiations. A potential compromise could see banks and insurers covered, while asset managers would be left out of the rules, POLITICO reports. Read more
Bloomberg: Banks’ commercial real estate hits could worsen stress
European banks’ exposure to commercial real estate could erode financial stability if the economy is hit by a bigger shock, according to the European Central Bank (ECB). As reported by Bloomberg, about 10% of euro-area banks’ combined loans are exposed to commercial real estate. Read more
Reuters: ECB's Lagarde warns against premature inflation celebration
The European Central Bank (ECB) has time now to assess how inflation unfolds after a record string of rate hikes but victory has not yet been won and bets based on short-term data flow are premature, ECB President Christine Lagarde said. According to Reuters, markets expect the ECB's next move to be a rate cut in either April or June and see more than 90 basis points of easing before the end of 2024. Read more |
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European Retirement Week Exploring solutions to Europe's pension challenge
Monday 27 November 2023
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 | The third edition of European Retirement Week kicks off with an in-person launch event on Monday 27 November.
This 2023 edition features keynote speeches by Fausto Parente, Executive Director,
EIOPA, Frances Fitzgerald MEP, Katarina Ivankovic Knezevic, Director of Social Rights
and Inclusion (DG EMPL), European Commission, Didier Millerot, Head of Unit
Insurance and Pensions (DG FISMA), European Commission.
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FROM EBF MEMBERS
Febelfin: More gender equality in the financial sector
We are witnessing a positive evolution in terms of gender equality at all management levels for the first time, according to the new annual report from Wo.Men in Finance Belgium. As reported by Febelfin, the report also provides an overview of all initiatives and tracks the evolution of diversity at all levels in the financial sector in 2022. Read more UK Finance: Are we embracing AI in finance? The Digital Innovation Summit by UK Finance included two sessions on artificial intelligence (AI). The session highlighted that technology and finance can work in synergy to solve the problems that banks are facing while stressing the ethical need for public policy to address issues like algorithmic bias. Read more
FBF: List of AERAS referents
The French Banking Federation (FBF) has published the list of AERAS referents of credit institutions. The AERAS agreement supports people with serious health risks to secure insurance and loans. Read more (FR) |
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FROM THE INSTITUTIONS
ECB: Monetary policy in the euro area: attentive and focused
The European Central Bank (ECB) monetary policy is in a phase where we must be attentive until we have firm evidence that the conditions are in place for inflation to return sustainably to our goal, says President Christine Lagarde. Read more
EBA: Standards for Supervisors assessing market risk internal models
The European Banking Authority (EBA) published its final draft Regulatory Technical Standards (RTS) on the assessment methodology under which competent authorities verify institutions’ compliance with the requirements applicable to their internal models under the Fundamental Review of the Trading Book (FRTB) rules. Read more
SRB: European Banking and Supervision
Dominique Laboureix, Chair of the Single Resolution Board (SRB) discusses the resolution framework in Europe and the Crisis Management and Deposit Insurance proposals (CMDI). "While the CMDI represents a positive enhancement of the framework, it does not complete the Banking Union," he says. Read more |
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FROM THE EBF
Industry statement calls for removing sovereignty requirements from European Cybersecurity Certification Scheme for Cloud Services (EUCS)
The European Banking Federation (EBF) co-signed a joint statement on the ongoing process of developing a cybersecurity certification scheme for cloud services (EUCS). While the industry welcomes the objective of establishing a minimum set of security and trust criteria for cloud services, the drafting of EUCS should be a purely technical process detailing the technical requirements for such certification. 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
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