EBF MORNING BRIEF Wednesday 18 October 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: Crypto disclosures by banks from January 2025
According to Reuters, global banking regulators proposed a standardized format for major banks to disclose their holdings of crypto assets from January 2025 to support "market discipline" by giving a complete picture to investors. Read more
Cointelegraph: Crypto investor protections won’t take effect until 2024
Crypto asset service providers may not benefit from full rights and protections afforded to them under MiCA until as late as July 2026, the European Securities and Markets Authority (ESMA) said. As reported by Cointelegraph, there is no guarantee investors will be fully protected by MiCA up to 2026. Read more
Bloomberg: France sees deal with Germany as base for EU fiscal rules
A deal between the EU's two biggest countries will lay the foundations for updated fiscal rules, French Finance Minister Bruno Le Maire said heard by Bloomberg. Similarly, Spain’s Nadia Calvino said the aim is to table a legal proposal at the next Ecofin so there can be a new deal by the end of 2023. Read more |
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FROM EBF MEMBERS
NVB: Appropriate European rules for small investors
According to European rules, companies offering investment services must ask clients about their financial situation. In this way, the client could be more protected from products that might be too risky. However, the information that must be provided prevents beginners or small investors from entering the investment market, the Dutch Banking Association (NVB) and DUFAS write in a joint position paper. Read more (NL)
Febelfin: Escape game: The Hacker Hotline Too many young people are still unaware of the dangers of online fraud with 23% of young people having never heard of phishing. With the Hacker Hotline, a mobile escape game, Febelfin aims to make young people aware of the dangers of online fraud in a fun way to help them protect themselves. Read more (FR) Finance Norway: New Digitalization Minister It is the first time Norway will have a digitalization ministry, a move that several have advocated in the past. Finance Norway is looking forward to a good and constructive collaboration with the new minister, who already receives input on the government's new digitization strategy from the NHO community. Read more (NO) |
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FROM THE INSTITUTIONS
ESMA: Preparations for a smooth transition to MiCA
The European Securities and Markets Authority (ESMA) published a letter and a statement to encourage preparations for a smooth transition to MiCA. ESMA Chair, Verena Ross, calls on Member States to designate without delay the competent authorities responsible for carrying out the functions and duties provided for under MiCA. Read more
ESRB: Seventh ESRB Annual Conference
The European Systemic Risk Board (ESRB) announced that its seventh Annual Conference will take place online on 16 November. Policymakers, central bankers, and academics will discuss “Financial stability challenges ahead: emerging risks and regulation”. Read more
SRB: Banks’ capital buffers and minimum requirements
During the recent economic shocks caused by the COVID-19 pandemic and the more recent inflation surge, the EU banking system proved resilient and continued to provide lending to the real economy. The strengthened macroprudential and macroprudential frameworks put in place after the 2008 crisis played a crucial role, says Sebastiano Laviola, Board Member at Single Resolution Board (SRB). Read more |
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FROM THE EBF 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.
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