FROM THE MEDIA this week

Euromoney: European banks eye state debt-for-equity swaps

UniCredit CEO Jean Pierre Mustier is among bankers pushing for easier corporate access to government equity, as state-backed loans have heightened firms’ indebtedness, and firms’ sales struggle to recover, Euromoney reports. Read story

FN: European banks must start sharing more intelligence on cybersecurity

A pan-European intelligence sharing system, perhaps through an industry consortium, could make security cheaper and help banks stay ahead of the hackers, writes Financial News. Read story

Financial Times: European banking needs a Big Bang

In a world desperate for growth, it is worth remembering that the EU is the second largest economic area and can play a vital role in the global economic recovery, Axel Weber, Chairman of UBS, wrote in the Financial Times. Unfortunately, the EU single market is not fully integrated, especially for services, including finance. Bold steps are needed to deliver the full economic benefits of a single market in banking. Read story

FROM EBF MEMBERS this week

Italy: Spunta blockchain initiative gets recognized

Prestigious international recognition for Spunta, the blockchain of the Italian banking sector, which already operates with 55 banks corresponding to the 82% of the sector in terms of employees, reports Italian banking association ABI. The Banker, a service from the Financial Times, awarded Spunta for the Technology joint venture category. The award mentions all partners, Abi, Abi Lab, R3, NTT Data, Sia and the banks involved in the pilot project. Read more

THE BANKING SCENE - AFTER WORK EVENT
'SOCIETY & BANKING IN 2030'

 24 September 2020

A famous futurist, Roy Amara once said: “We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.”

Attend The Banking Scene's Virtual Indian Summer Event on September 24, from 16h00 to 17h30, and rest assured that you understand the long-term impact of today’s changes. Among the speakers: 

• Jo Caudron, Founding Partner of Scopernia and author of "The World is Round", Management book of the year 2020 in the Netherlands

• Sandra Phlippen, Chief Economist, ABN AMRO

• Michael Anseeuw, General Manager Retail Banking, BNP Paribas Fortis

• Wim Mijs, CEO, European Banking Federation

As a subscriber to this newsletter you can register against a discounted rate of 69 euro. This ticket also includes a copy of Jo Caudron's book. Click here to register.

FROM THE INSTITUTIONS this week
 

FSB: Too-big-to-fail consultation virtual workshop 4 Sept.

The Financial Stability Board will host a virtual workshop on 4 September on its too-big-to-fail consultation, which runs until 30 September. More info

SRB: guidance documents for the bail-in operationalisation

The Single Resolution Board on 10 August published a new set of documents to give operational guidance to banks on the implementation of the bail-in tool. The documents include guidance on bail-in playbooks and instructions for bail-in data sets, which are accompanied by an explanatory note These documents were developed by the SRB, in close collaboration with the National Resolution Authorities.
 

ECB: Exploring the potential of supervisory technology

Banks are increasingly tapping the potential of modern technology to meet new customer expectations, keep pace with competitors and boost sustainability. Against the backdrop of the coronavirus (COVID-19) pandemic, this trend has acquired new urgency, with Supervisory Board member Pentti Hakkarainen noting in May that banks must fully embrace the latest technology or risk going extinct. Read more in the ECB's Banking Supervision newsletter.

The European Banking Federation and fTLD Registry Services (fTLD) are partnering to educate the European banking sector about the cybersecurity role .BANK plays in protecting banks against Business Email Compromise (BEC) scams, phishing and spoofing attacks that lead to breaches, identity theft and financial fraud. fTLD administers the .BANK domain and the EBF has served on its Advisory Council since 2013. To learn more about the security benefits of .BANK, visit https://www.register.bank/ebf/ or contact fTLD at EBF@fTLD.com.

ABOUT THE EUROPEAN BANKING FEDERATION
 

The European Banking Federation is the voice of the European banking sector, bringing together national banking associations. The EBF 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.