NPL Annual Forum 202; SME Finance in the 2020s webinar; European Parliament plenary session
EBF WEEKLY + FINANCIAL REGULATION AGENDA for the week starting Monday 23 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.
Recommend the EBF newsletters to a colleague. Click here to sign up!
Gonzalo Gasos to adress the NPL Annual Forum 2020
On Wednesday, 25 November, the Frankfurt School Verlag and the Frankfurt School of Finance & Management will bring together at the NPL Annual Forum 2020, specialists and executives from the financial sector, as well as investors and academics, to debate on financial stability, the future issues of the lending business, and the management of non-performing loans as part of the overall risk strategy. EBF Senior Director of Prudential Policy & Supervision Gonzalo Gasos has been invited this year as a keynote speaker and will share views on the panel: "The Future of NPL Transactions in Europe" together with Dr. Edward J. O’Brien, Adviser, Directorate General Macroprudential Policy and Financial Stability, European Central Bank. Among other speakers, attendees will hear from Klaus Greger, Head of Group Operations Credit, Commerzbank AG. Read more (DE/EN)Agenda (DE/EN)
SME Finance in the 2020s: Powering up the economy engines webinar
On Tuesday, 24 November the fourth edition of the BANKING ESSENTIALS webinar series organised by EBF and SP Global Market Intelligence titled "SME Finance in the 2020s: Powering up the economy engines" will seek to anticipate how SME financing will develop in the challenging years ahead of 2020 and will identify how banks can appropriately handle the challenges and opportunities in relation to data, technology, policy and regulations. EBF Policy Adviser, Financing Growth, Daniel Bouzas together with S&P Global Market Intelligence, Associate Director, New Product Development, Alem Husain will share views on how the financial ecosystem for SMEs need to develop so that they can flourish and deliver on their economic potential in Europe as well as elsewhere in the world.Register HERE
Frankfurt School of Finance & Management online conference: NPL Annual Forum 2020. EBF Senior Director Prudential Policy and Supervision Gonzalo Gasos speaking
European Commission Stakeholders Cybersecurity Certification Group. EBF Director Cybersecurity & Innovation Alexandra Maniati attending
EBF Post-Trading Working Group virtual meeting
EBF Investment Income WG virtual meeting
For more events check the EBF planning calendar HERE
*All events take place in Brussels unless stated otherwise
FROM THE MEDIA this week
Euroactiv: Lagarde vows to act against Covid-19 second wave
European Central Bank President Christine Lagarde said on Thursday (19 November) that the institution will act “with determination” against the second wave of the pandemic, ahead of the new monetary stimulus she is expected to announce in December, Euroactiv reports. Read more
Reuters: ECB Weidmann calls to address climate-related financial risks
Bundesbank President Jens Weidmann on Thursday called on the Eurosystem, which includes the European Central Bank (ECB) and the euro zone’s 19 central banks, to consider climate-related financial risks before making monetary policy decisions, Reuters reports. Read more
Nasdaq: Covid-19: Italy urges EU to empower national bad banks
Italy has urged European authorities to update their state aid rules and give member states leeway to strengthen state-backed companies buying soured debt, Economy Minister Roberto Gualtieri said on Thursday, Nasdaq reports. Speaking at a parliamentary hearing, Gualtieri said state-backed bad banks such as Italy's AMCO should be empowered to cope with the expected increase in future defaults due to the economic crisis sparked by the Covid-19 outbreak. Read more
FT: Why financial literacy matters more than ever
Growing up in a just-about-managing former market town on the fringes of the south Wales valleys, with a music teacher dad and a psychologist mum, there weren’t many signs to suggest I would develop an interest in finance. Then, for my 16th birthday, my father gave me a present: £100-worth of BT shares on the occasion of the telecoms group’s Thatcherite privatisation. For months afterwards, I would check the share-price pages of The Daily Telegraph, my parents’ paper of choice. If the stock was up a ½ pence, I would rejoice that I was now £1 better off. Read more (€)
Bloomberg: Yellen under consideration by Biden for Treasury Chief
Former Federal Reserve Chair Janet Yellen is under consideration to be President-elect Joe Biden’s Treasury secretary, according to people familiar with the matter, joining other possible contenders, Bloomberg reports. Yellen has withdrawn from at least one upcoming speaking engagement because she is now in contention for Treasury secretary, one of the people familiar with the matter said. The people spoke on condition of anonymity to discuss personnel deliberations. Read more
FROM THE MEMBERS this week
CBA: development of the mortgage market
According to the Czech Banking Association (CBA), the volume of mortgage loan in October set once again a new record - with CZK 25.2 billion. Real estate is becoming increasingly inaccessible due to rising prices, but buyers are motivated by low-interest rates. Read more (CZ)
Finance Finland: Companies making progress with climate risks
”Climate change requires new practices and risk management from companies. Mitigation of the climate catastrophe affects the future of all investees and targets of financing”, notes Elina Kamppi, head of sustainability at Finance Finland (FFI). More than 1,500 companies have committed to TCFD’s recommendations. This includes FFI and many of its member companies, who are also committed to the Paris Agreement. Read more
Swiss Bankers Association: Raiffeisen bank leaves SBA
Raiffeisen, the third-largest bank in Switzerland, is leaving the Swiss Bankers Association (SBA) - after more than 100 years and a good year after Jörg Gasser took over the management of the association. How could it come to this? Read more (DE)
AEB: The team defending the interests of the banking sector
Few institutions have been recognized as powerful in Spain as the Spanish Banking Association (AEB), which groups together all the Spanish and foreign banks operating in our country. In turn, the AEB belongs to the International Banking Federation and is a highly influential member of the CEOE. Read more (ES)
Finance Denmark: How do Danes invest?
How do Danes invest? Is there a difference between how men and women invest? What does age mean for how we invest? And what about young people? Finans Danmark, Economist, Christian Heebøll Hammer talks about the investor culture in Denmark. Read more (DK)
Join and register for free
EFAMA E-SEMINAR ON INVESTOR EDUCATION INITIATIVES
Monday, 30 November, 16:00 CET
Join us on Monday, 30 November at 16:00 CET for the EFAMA e-seminar Investor Education Initiatives titled "How to ensure effective delivery by the public sector and the financial industry?" Register HERE
FROM THE INSTITUTIONS this week
ECB: Central bank digital currency in an open economy
The ECB published a briefing on central bank digital currency in an open economy. It shows that domestic issuance of a CBDC increases asymmetries in the international monetary system by reducing monetary policy autonomy in foreign economies. Read more
EBA: Report on the unwind mechanism of the LCR
The European Banking Authority (EBA) published a Report on the effects of the unwind mechanism of the liquidity coverage ratio (LCR) over a three-year period, from the end of 2016 to the first quarter of 2020. Overall, the empirical evidence does not support the hypothesis that the unwind mechanism has a detrimental impact on the business and risk profile of credit institutions. Read more
European Commission: European Semester Autumn Package
The European Commission presented its autumn economic policy package, including the Opinions on euro area Draft Budgetary Plans (DBPs) for 2021 and policy recommendations for the euro area. Read more
EBI: Banking supervision amidst uncertainty
The European Banking Institute (EBI) published the Winter Edition of its BrieFin journal. This edition explores the challenges to banking supervision amidst Covid-19 crisis uncertainty from 5 different angles: the Critic’s view by Edward Kane, the professor’s view by Concetta Brescia, the regulator’s view by Slavka Eley, the industry’s view by Gonzalo Gasós and the young researcher’s view by Cecilia del Barrio. Read more
ESMA: EU derivative clearing showed strong growth in 2019
ESMA published its third Annual Statistical Report (Report) analysing the European Union’s (EU) derivatives markets. It provides a comprehensive market-level view of the EU’s derivatives markets in 2019, which had a total size of €681tn gross notional amount outstanding, a decrease of 5% on 2018. The Report is based on data submitted under the European Markets and Infrastructure Regulation (EMIR). Read more
FROM THE EUROPEAN BANKING FEDERATION this week
Pillar II project conclusion: Joint Press Release
The three key benefits that drive innovation for financial institutions
As part of the EBF Cloud series, the EBF Cloud Banking Forum (CBF) and Amazon Web Services explore the three key benefits that drive innovation for financial institutions. Read moreEBF Cloud webpage
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.
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.
This newsletter is published by the EBF Mediacentre. For questions or suggestions contact mediacentre@ebf.eu
