EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 19 September 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!

AML Europe Event 2022 coming on 22 September!

On 22 September, Wim Mijs, EBF CEO, and Roger Kaiser, EBF Senior Policy Advisor will speak at the Anti Money Laundering Europe conference organized by Leaders in Finance Events. The AML Europe Event will cover the many facets of the cat-and-mouse game between banks and criminals, from technological innovations in money laundering to the broad cooperation within the AML chain and new European legislation. Above all, however, the event is meant to be a meeting ground where leaders from the European AML/KYC sector can come together and share their knowledge. Read more

FROM THE MEDIA

International Banker: From Open Banking to Open Finance

John Berrigan, Director-General in DG FISMA, European Commission wrote an article for the International Banker on technological innovation in finance. In the article, he advocates for "a safe digital space for users, with a level playing field" where "users have full control over how their data is shared". Besides, data sharing needs to be enabled in all directions and the prudential treatment of the same activity should be equivalent. Read more

Reuters: ECB offers a flimsy shield against Spain’s bank levy

Investors in Spanish banks are clutching at straws. According to Reuters, shares in the country’s lenders rose by 6% on hopes that the European Central Bank (ECB) may force Madrid to modify a tax on bank profits. However, the ECB has limited scope to intervene and lenders would have to argue that their capital buffers are under threat. Read more

Bloomberg: ECB’s Guindos urges ‘determined action’ in inflation fight

European Central Bank (ECB) Vice President Luis de Guindos urged “determined action” to combat record inflation, maintaining officials’ calls for further increases in interest rates after historic hike. Speaking separately in Dublin, Ireland’s Gabriel Makhlouf echoed Guindos’s tough tone, Bloomberg reports. Read more

FINANCIAL REGULATION AGENDA for next week

Monday 19 September

• Council Counsellors/Financial Services Attachés

• Council Working Party on Financial Services and the Banking Union (Banking Union)

• European Parliament Subcommittee on Tax Matters mission to Dublin

• SRB ‘European banks: resolvable and ready for crisis?’ conference

• Deutsche Bundesbank ‘Current issues in monetary policy implementation — greening the financial system’ event

Tuesday 20 September

• Council Working party on Tax Questions (High Level)

• European Securities and Markets Authority Board of Supervisors meeting

• JRC and DG ECFIN Annual Research conference

• IADI, ERC and EFDI ‘Green Deposit Guarantee Schemes and Non-Financial Reporting: New Challenges for Deposit Guarantee Schemes’ webinar

• ENISA ‘Cybersecurity skills — Building a cybersecurity workforce’ conference

• Deutsche Bundesbank ‘Accounting for banking supervisors’ course

• The Financial Times 'The banking revolution' event

• City of London Corporation and British Chamber of Commerce EU & Belgium ‘The UK Data Protection and Digital Information Bill — Impact on EU, UK and the international data landscape’ event

• EurActiv ‘EU Cybersecurity and Resilience — What challenges to create a common framework?’ event

Wednesday 21 September

• Council Working Party on Financial Services and the Banking Union (Financial Services)

• Council Horizontal Working Party on Cyber Issues

• ECB Governing Council non-monetary policy meeting

• ENISA CSIRTs Network meeting

• EUSPA and EBN ‘Space Technologies for Fintech and Insurtech’ webinar

• The Financial Times Cyber resilience summit

• The Financial Times 'Digitalising investment banking operations' event

Thursday 22 September

• Council Counsellors/Financial Services Attachés

• ECB General Council meeting

• ENISA CyCLONe Officers meeting

• Leaders in Finance AML Europe Event 2022 (EBF CEO Wim Mijs and EBF Senior Policy Advisor Roger Kaiser speaking)

• FIA Forum: Paris 2022

• Camp Law Claw ‘Competition law in the financial services sector. Regulation, enforcement and the challenges of FinTech' event

• Bloomberg 'The Future Investor: A New Investment Class' event

Friday 23 September

• Council Working Party on Financial Services and the Banking Union (Financial Services)

• EIB ‘Innovation for a sustainable and resilient future’ conference

• Council Horizontal Working Party on Cyber Issues

• Joint ESAs Consumer Protection Day

For a full-year overview of key financial regulation events: click here 

FROM EBF MEMBERS

Finance Latvia: Fraud cases at four major banks

Taking into account the current situation and current trends, the remote availability of services and the more active use of digital tools will expand rapidly and significantly. At the same time, the activities of fraudsters in the digital environment are developing. This is what Finance Latvia reports. Read more (LAT)

Febelfin: Payment from credit mortgage in the energy crisis

Febelfin published a Q&A page to address any doubts that customers may have about the deferral of mortgage payments in the context of the energy crisis. For instance, what conditions must you meet to obtain a payment deferral on the mortgage loan? For how long can you get a payment deferral? Read more (FR)

BdB: Crypto and tax

The money stocks in virtual currencies are legally treated neither as (foreign) currency nor as an investment, but as other economic goods. Profits and losses from cryptocurrencies can still be relevant for the tax return, the Association of German Banks (BdB) writes. Anyone who invests in virtual currencies should document the acquisition process. Read more (DE)

FROM THE INSTITUTIONS

ECB: Euro area policy challenges

"To keep inflation expectations anchored, determined action is essential," says European Central Bank (ECB) Vice-President Luis de Guindos. The main asset that central banks have is their credibility, and this is even more important in times of high uncertainty. Read more

EBA: Award for top European standard for environmental performance

The European Banking Authority (EBA) has become the first European agency in France to be registered for its environmental performance under the European Eco-Management and Audit Scheme (EMAS). The registration was issued by the French Ministry for the Ecological Transition for a duration of three years. The scope of EMAS covers all the EBA’s operational and core business activities. Read more

BIS: Ethics of currency - a possible guide for central bankers?

François Villeroy de Galhau, Governor of the Bank of France delivered a lecture on the ethics of currency and trust in central banks. In the speech published by the Bank for International Settlements (BIS), he elaborates on the golden triangle of trust today and raises the question of whether the international dimension of trust can still inspire us. Read more

FROM THE EBF  this past month

New EBF Vacancies! Work with us!

Visit our Vacancies page to learn more about the opening positions at the EBF. Read more

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

European Banking Federation