EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 10 October 2022 An overview of the main financial regulation and banking stories this week and a look ahead to key events for the upcoming week, brought to you by the European Banking Federation Recommend the EBF newsletters to a colleague. Click here to sign up! |
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FROM THE MEDIA
Reuters: EU to ease proposed curbs on foreign banks, document shows
Foreign bank branches in the European Union would not automatically become a costlier subsidiary if their business reached a certain "systemic" size, the Czech EU presidency proposed. According to Reuters, the presidency also said a proposal to force third country branches to place "liquid assets" in a special account should also be deleted. Read more
PYMNTS: Final draft of EU crypto law caps stablecoin transactions
The final text of the Markets in Crypto Assets (MiCA) law creating a broad legal framework for digital assets including cryptocurrencies and stablecoins has been passed by the European Commission, and goes to the European Parliament next week. The document features a number of key provisions, notably capping the use of non-euro-denominated stablecoin, PYMNTS reports. Read more
S&P Global Market Intelligence: Stronger dollar provides earnings boost for a handful of European banks
Amid a darkening economic outlook at home, some of Europe's biggest banks look set for a welcome earnings boost in the second half of 2022 due to the US dollar's unrelenting strong run. Five of Europe's 20 largest banks by total assets derived more than 10% of their 2021 earnings from North America, according to S&P Global Market Intelligence data. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 10 October
Tuesday 11 October Wednesday 12 October Thursday 13 October Friday 14 October For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS Finance Norway: Attack on skilled workplaces across the country The government proposes to introduce a special employer's tax on incomes over NOK 750,000 of 5 percent. According to Finance Norway, this comes on top of already announced increased taxes for the business sector of around NOK 33 billions. Read more (NO)
BdB: How scammers get your credit card details
Pharming is a further development of classic phishing and is made up of the words "phishing" and "farming". You enter an address in the browser bar and the malware then performs a redirect in the background. They end up on a fake website without you noticing, says the Association of German Banks (BdB). Read more (DE)
Finance Latvia: Increase in Euribor rate affects car leasing payments
Although there is currently a lot of talk about the increase in the Euribor rate and its impact on the amount of loan payments, citizens often mistakenly believe that the rate increase applies only to home loans. However, as Finance Latvia points out, together with the rise in Euribor, the monthly payments for car leasing are also increasing, which affects tens of thousands of lessees in Latvia. Read more (LAT) |
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FROM THE INSTITUTIONS
ECB: Account of the September monetary policy meeting
Raising the key interest rates by 75 basis points was judged to be a proportionate response to the worsening inflation outlook, according to the account published by the European Central Bank (ECB). The decision signalled that the Governing Council was determined to bring inflation back to its 2% target in a timely manner. Read more
EBA: Risk Dashboard shows that capital ratios remained broadly stable and liquidity ratios declined slightly
The European Banking Authority (EBA) published its quarterly Risk Dashboard covering the main risks and vulnerabilities in the EU banking sector. Overall, banks reported robust liquidity ratios with the average liquidity coverage ratio (LCR) reaching 164.9% and the net stable funding ratio (NSFR) standing at 126.9%. Read more
EIOPA: Monthly technical information for Solvency II Relevant Risk Free Interest Rate Term Structures
The European Insurance and Occupational Pensions Authority (EIOPA) published technical information on the relevant risk-free interest rate term structures (RFR) with reference to the end of September 2022. RFR technical information has been calculated on the basis of the content of the technical documentation under Background material. Read more |
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FROM THE EBF this week EBF: Workshop with BaFin As part of the banking industry’s involvement in the efforts towards reaching a European integrated reporting system, the European Banking Federation (EBF) and Germany’s Federal Financial Supervisory Authority (BaFin) hosted recently a workshop to delve into the findings from the feasibility study “Redesign for Regulatory Reporting” produced by BaFin together with Deutsche Bundesbank, Germany’s Federal Ministry of Finance and the German banking industry. 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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