EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 20 March 2023 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! |
|
FROM THE MEDIA
CNN: ECB sticks to its rate-hiking guns, says banks resilient
The European Central Bank (ECB) stuck with its plan to hike interest rates by half a percentage point, judging that inflation poses a bigger threat to the economy than the turmoil in the banking sector. According to CNN, President Lagarde and Vice President Luis de Guindos stressed that EU banks were much more resilient than they were before the global financial crisis, with strong capital and liquidity positions. Read more
Bloomberg: ECBâs Guindos says EU banks may be vulnerable on rates
European Central Bank (ECB) Vice President Luis de Guindos told finance ministers that some EU banks could be vulnerable to financial strain due to rising interest rates. Elaborating on the state of the industry after the collapse of SVB, he said European lenders are much less exposed than their US counterparts, Bloomberg reports. However, he cautioned not to be complacent as a lack of confidence could trigger contagion. Read more
S&P Global Market Intelligence: Big Nordic banks' loan loss provisions set to triple in 2023
As reported by S&P Global Market Intelligence, loan loss provisions at the largest Nordic banks are set to climb significantly in 2023 as macroeconomic challenges weigh on commercial real estate exposures. Property management, especially commercial real estate, will be the "key driver of loan losses". Read more |
|
FINANCIAL REGULATION AGENDA for next week Monday 20 March
Tuesday 21 March European Parliament Committee on Committee on International Trade
Wednesday 22 March Council Working Party on Tax Questions - Direct Taxation Council Horizontal Working Party on Cyber Issues
Thursday 23 March
Friday 24 March
Council Horizontal Working Party on Cyber Issues
For a full-year overview of key financial regulation events: click here
|
|
The European Money Week 2023
is coming next week! Amid the darkening economic outlook, ensuring individuals have the money management skills to understand whatâs happening to them and around them remains a priority. To put these skills in the spotlight, the European Banking Federation (EBF) has dedicated this yearâs European Money Week, aligned with OECD-INFE Global Money Week, to the theme of âFinancial skills: Lighting the path to a sound financial futureâ.
Join key experts, policymakers, and academics passionate about financial literacy at the launch event on Tuesday, 21 March!
|
|
FROM EBF MEMBERS BdB: Inflation is persistent According to Henriette Peucker, deputy chief executive of the Association of German Banks (BdB) fighting inflation remains a high priority for the European Central Bank (ECB). With a view on the ECB meeting, she added: âThe ECB should continue on its course so that inflation can be pushed back sustainably in the medium term. The ECB is currently operating in a challenging environment". Read more (DE) ABBL: Taxation of the banking sector: what priorities? Camille SeillĂšs, Secretary General and Member of the Luxembourg Bankers Association (ABBL) Management Board was reappointed as Chairman of the European Banking Federation (EBF)'s Fiscal Committee. He identifies new top priorities in the field of banking taxation, namely, new tax credits to foster digital and green investments, the issue of talent attraction and retention, cross-border homeworking, banks as auxiliaries to tax authorities and the hidden VAT cost and sectoral levies. Read more Febelfin: The uncertainty of the economic environment Febelfin registered that business loans at the end of December 2022 were up 4.6% compared to the previous year, reaching 184.6 billion euros. In the fourth quarter of 2022, loans granted fell by 6.3% compared to the same quarter of 2021. Read more (NL) |
|
FROM THE INSTITUTIONS ECB: Combined monetary policy decisions and statement The Governing Council of the European Central Bank (ECB) decided to increase the three key ECB interest rates by 50 basis points, in line with its determination to ensure the timely return of inflation to the 2% medium-term target. The Governing Council is monitoring current market tensions closely and stands ready to respond as necessary to preserve price stability and financial stability in the euro area. Read more EBA: Handbook on data submission for supervisory benchmarking The European Banking Authority (EBA) published a Handbook on supervisory benchmarking of internal models. The Handbook is an online tool that provides guidance and links to relevant documents and information for supervisory benchmarking to facilitate their accessibility. In particular, the Handbook includes overviews for all applicable Q&As relevant to credit risk, market risk, and IFRS9 benchmarking. Read more EIOPA: Statement takes aim at unfair âprice walkingâ practices The European Insurance and Occupational Pensions Authority (EIOPA) published today a supervisory statement on differential pricing practices with the aim of eliminating price-setting strategies which lead to the unfair treatment of customers. Read more |
|
FROM THE EBF this week
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 |
|
This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v.barbieri@ebf.eu
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
|
|
|
|
