EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 16 November 2020 An overview of the main banking stories this week and a look ahead to key events in European banking and financial regulation for the upcoming week, brought to you by the European Banking Federation.
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JP Mustier to address the Euro Finance Week Opening Conference |
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The Euro Finance Week will take place from 16 to 20 November 2020. In view of the renewed "lockdown" rules to stop the spread of coronavirus, the event will take place almost completely, digitally. Distinguished representatives from the national and international financial sectors, regulators, politicians and academia will discuss and reflect upon current topics in the financial sector. EBF President Jean Pierre Mustier, CEO of Unicredit Group and winner of the "European Banker of 2018" award, has been invited to the Opening Conference on Monday 16 November, to share views on the panel "Europe's banking market in transition - opportunities and challenges" together with Thomas Steiner Global Head of Banking & Capital Markets and Partner, BearingPoint Deutschland. Among other speakers, the conference will hear from Christian Sewing, Chairman of the Management Board of Deutsche Bank, Christine Lagarde, President of the European Central Bank, and Olaf Scholz, German Federal Minister of Finance patron of the Euro Finance Week. Read more |
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Agenda for next week Monday 16 November: Opening Conference of the Euro Finance Week. EBF President Jean-Pierre Mustier speaking, five-day event EBF Secondary Markets Working Group virtual meeting EBF Digital Strategy Group virtual meeting Tuesday 17 November: EBF Business Lending Working Group virtual meeting EBF KYC & RBA Task Force virtual meeting Wednesday 18 November: EPC Board meeting Thursday 19 November: European Parliament: Committee on Economic and Monetary Affairs.
Agenda ECB Banking Supervision Industry Dialogue on the Annual Report on the Outcome of the SREP IT Risk Questionnaire ISDA virtual conference on Trading Book Capital EBF Executive Committee virtual meeting EBF Information Sharing Task Force virtual meeting Friday 20 November: Deutsche Bundesbank online seminar: Networks of banks UK in a Changing Europe online conference: Brexit - the end? EBF Board virtual meeting Joint ESBG, EACB & EBF online workshop: Future role of banks in digital customer identification (Day 2 - Digital Identity going forward – banks as trusted infrastructure) For more events check the EBF planning calendar HERE
*All events take place in Brussels unless stated otherwise |
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FROM THE MEDIA this week
The Banker: ECB ponders ‘bad bank’ for souring eurozone loans
The European Central Bank (ECB) is reportedly pushing for a ‘bad bank’ to mop up remaining non-performing loans (NPLs) dating from the 2007–2009 global financial crisis amid concerns about a second wave of NPLs sweeping through the eurozone, The Banker reports. The central bank’s concerns have been accentuated by renewed population shutdowns across Europe in response to the rapid pick-up in Covid-19 infections. In addition, there is evidence from an ECB third-quarter lending survey that eurozone banks are reducing credit to the economy and becoming more cautious. Read more
BBVA: The future of the digital economy
The European Banking Federation recently organized a conference on innovation and cybersecurity where the role of banks in the digital economy and platform economy was discussed, among other topics. According to BBVA, the key to ensuring that financial services benefit from this economy is the creation of a framework for the different types of participating companies to compete fairly. Read more
PYMNTS: European banks warned loan defaults could skyrocket
The chair of the Single Resolution Board is warning lenders to prepare for an onslaught of bad loans due to the second wave of Covid-19 lockdowns, the Financial Times reported on Wednesday. Elke König said banks have to figure out which loans are more likely to be viable. She didn’t agree with the European Central Bank’s assertion that the EU should develop a web of “bad banks” to handle higher non-performing loans (NPLs), PYMNTS reports. Read more (FT) €
Risk.net: EBA wants Basel to revisit prudential rules on software
Europe’s banking regulator is keen for standard-setters in Basel to develop a global regime for the prudential treatment of software assets, as the European Union prepares to ease its own rules on the topic, Risk.net reports. A final draft regulatory technical standard (RTS) proposed by the European Banking Authority on October 14 will provide some capital relief to EU banks, but will remain significantly tougher than standards in the US and Switzerland. Read more
Bloomberg: Reductions in 2020 are on track to surpass last year’s total Even as European banks reported lower-than-expected loan losses and strengthening capital ratios in the third quarter, the job cuts kept coming across the continent. According to Bloomberg, Spain’s Banco Santander SA plans to get rid of as many as 2,000 staff at its Polish business. Britain’s Lloyds Banking Group Plc announced it was cutting about 1,070 roles, mostly at its technology and retail units. Dutch lender ING Groep NV revealed the loss of 1,000 jobs by the end of 2021. Read more |
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Join and register for free EU PAYMENTS AT CROSS-ROADS:
WHAT STRATEGY FOR THE FUTURE? ONLINE conference, Thursday 19 November, 15:00 CET
Join us on Thursday, 19 November at 15:00 CET for the last conference of the EBF Innovation and Cybersecurity Thursdays' series titled EU payments at cross-roads: what strategy for the future?.
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FROM THE MEMBERS this week
CBA: Parachute project: a joint CBA & Fina project
The Croatian Banking Association (CBA) together with the Financial Agency (Fina) founded the "Parachute Association" having as a mission helping the citizens of the Republic of Croatia in the crisis caused by the coronavirus pandemic. Read more (HR)
Bankenverband: Online games help over the lockdown
The digitalisation of society is progressing incessantly - in times of the corona pandemic even faster and more profoundly than before. As the ARD/ZDF Online Study 2020 shows, almost all Internet-based applications are showing a significant increase. According to the Association of German Banks (Bankenverband), especially in times of lockdown, the internet apparently helps to compensate to some extent for the limitations of social and professional physical contacts. Read more (DE)
Finance Denmark: Online shopping becomes safer
In a short time, consumers may find that they have to enter a new personal code together with an SMS code when shopping online in the EU. It should make online shopping even more secure. Finance Denmark supports all initiatives that can reduce fraud. Read more (DK)
FFI: Preparing wisely for the old age
Ageing is something that can be prepared for in many different ways. You can take care of your health, foster social relationships, design safer living arrangements in your home, and take care of finances and legal matters, such as guardianship and advance healthcare directive, for example. Finance Finland (FFI) is involved in cooperative projects and networks with the aim of strengthening Finns’ financial preparedness for their retirement days. Read more
NVB: From repair to prevention: the future affordability of care
Good healthcare is crucial, especially now. In order to keep healthcare accessible and financeable, banks are open to help the healthcare sector with future business models, according to Michel van Schaik, Rabobank and Michiel Kuiper, Dutch Banking Association (NVB). Read more (NL) |
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FROM THE INSTITUTIONS this week
ECB: The blueprint for managing the second wave
The European policy response to the pandemic has proven that when different authorities work together, countries can successfully absorb the shock, says President Christine Lagarde. The second wave presents new challenges and risks, but the blueprint for managing it is the same. Read more ESMA published AIFMD reports ESMA published its first annual report on the use by National Competent Authorities (NCAs) of sanctions under the Alternative Investment Fund Managers Directive (AIFMD). The report contains an overview of the applicable legal framework and information on the penalties and measures imposed by NCAs from 1 January 2018 to 31 December 2018 and from 1 January 2019 to 31 December 2019. Read more
ECB: Euro area securities issues statistics: September 2020
ECB published the Euro area securities issues statistics: September 2020. According to the ECB, the annual growth rate of the outstanding amount of debt securities issued by euro area residents increased from 7.7% in August 2020 to 8.0% in September. For the outstanding amount of listed shares issued by euro area residents, the annual growth rate increased from 0.3% in August 2020 to 0.8% in September. Read more
EBA reminds the need for readiness in view of the Brexit
The European Banking Authority (EBA) reminds financial institutions affected by the end of the transition period to finalise the full execution of their contingency plans in accordance with the conditions agreed with relevant competent authorities before the end of the transition period on 31 December 2020. The EBA also reminds institutions to ensure adequate communication regarding their preparations and possible changes to any affected EU customers. Read more
BIS: Inside the regulatory sandbox: effects on fintech funding
The UK experience shows that regulatory sandboxes help fintechs raise funding by reducing regulatory costs and providing information about start-ups’ quality. Over 50 countries have established regulatory sandboxes for fintechs - but are sandboxes effective in spurring innovation? Read the latest BIS Working Papers. Read more |
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FROM THE EUROPEAN BANKING FEDERATION this week
EBF Publishes Financial Literacy Playbook for Europe
The European Banking Federation presented its Financial Literacy Playbook for Europe. This playbook is the result of the common efforts of national banking associations across Europe and the European Banking Federation. It provides a valuable snapshot of the banking industry’s financial education initiatives across Europe and can be used as a country-by-country reference guide. Read more Financial Literacy Playbook for Europe (PDF)
EBF CBF & IBM guide stakeholders for Cloud Exit Strategy Testing
EBF Cloud Banking Forum (CBF) and IBM discuss the necessity for clear guidance on when and how to test exit plans, looking at appropriateness and sufficiency of testing, according to the Forum's technical paper on "Cloud Exit Strategy - testing of exit plans.” Read more Cloud Banking at EBF |
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FT Global Banking Summit Rebuilding, Redefining and Repositioning for Growth Digital Conference, 1- 3 December, 2020
2020 is proving to be a year of unprecedented uncertainty in the banking world. All projections and strategies have been thrown into chaos by the global pandemic, and it will be some time before the full impact can be estimated. The Financial Times’ landmark Global Banking Summit, spanning multiple time zones, provides an unrivalled platform for dialogue between banking and finance leaders, incumbents and challengers, regulatory organisations and technology partners to evaluate the industry’s response to the crisis and to develop key plans and priorities for 2021 and beyond. Speakers will include notable figures from the finance world, with keynote and panel contributions from senior banking executives, national and international regulators, and eminent thought leaders. Read more |
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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. |
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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, with active members in 32 countries. 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. |
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For questions or suggestions contact mediacentre@ebf.eu
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