EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 26 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! |
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The European Banking Summit 2022
is coming next Thursday! |
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The European Banking Summit 2022 will explore how the financial sector can contribute to building a resilient economy and society as Europe continues on its path to a green and digital transformation. Resilience of Europe’s financial sector |
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Today is the last day to register and join us in Brussels!
Are you planning to follow the event online?
You have until Tuesday 27 September to secure your ticket! |
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FROM THE MEDIA
Reuters: Banks face legal risks if they don't stick to climate goals
Banks face the risk of being sued if they don't stick to their climate goals or try "greenwashing" their image, the European Central Bank (ECB) supervisor Anneli Tuominen said. According to Reuters, she stressed that banks should ensure that the information on their sustainable products is correct to avoid legal cases following greenwashing. Read more POLITICO: BoE raises rates by 50 basis points, disappoints investors The Bank of England (BoE) raised its benchmark interest rates by 50 basis points, disappointing investors who had largely bet on an even more aggressive hike. As reported by POLITICO, the Bank’s Monetary Policy Committee was split on the decision. Earlier in the day, the Swiss National Bank also raised rates by 75 basis points while the Swedish Riksbank surprised with a whopping full 1 percentage-point hike. Read more Finextra: Deutsche Bank to assign a risk value to merchant transactions in the fight against fraud Deutsche Bank is using AI technology from Visa subsidiary Cybersource to give merchant customers a fraud risk score for individual transactions, Finextra reports. "Cybersource helps Deutsche Bank to resolve the tension between making payments easy and keeping their client’s business safe," Denise Burkett-Stus, Head of Cybersource Europe says. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 26 September
Tuesday 27 September Wednesday 28 September Thursday 29 September Friday 30 September
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS Finance Finland: Resilience of the payment infrastructure tested The biggest cross-sectoral joint preparedness exercise in Finland is ending. Finance Finland’s representative and coordinator in the exercise emphasises that it is vital to conduct regular exercises to maintain a high level of preparedness. The financial sector has consistently maintained its cybersecurity, and it is important to retain this level reached. Read more
BdB: German economy slides into recession in winter
Russia's attack on Ukraine and skyrocketing energy prices are pushing the German economy into recession, according to an Economic forecast published by the Association of German Banks (BdB). GDP is expected to fall by -1.3 percent in 2023 while inflation will remain too high in the coming year. Read more(DE)
UK Finance: Extending the regulatory perimeter
As reported by UK Finance, extensions of the regulatory perimeter for cash have been formally introduced under the Financial Services and Markets Bill. While the Bill looks forward to shiny, new crypto ‘coins’, it also seeks to manage the risks to the ‘effectiveness, resilience, and sustainability of the real ones. Read more |
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FROM THE INSTITUTIONS
ECB: Bringing inflation back to target
'We are doing whatever is needed to bring inflation back to our 2% target,' European Central Bank (ECB) Executive Board member Isabel Schnabel tells t-online. As inflation is likely to remain high for some time despite a looming downturn, there is a need to continue raising interest rates. Read more
ESMA: Consultation on CCP business reorganization plans
The European Securities and Markets Authority (ESMA) published a consultation paper seeking views on proposed rules for Central Counterparties’ (CCPs) business reorganization plans. The objective of the proposed measures is to ensure that CCPs which are failing or likely to fail, maintain continuity of their critical functions and core business lines, as well as to reduce the impact of any failure on the EU financial system. Read more
SRB: Changes to policy for multiple points of entry banks
The Single Resolution Board (SRB) welcomes the adoption of the review of the Capital Requirements Regulation (CRR), known as ‘CRR quick-fix. The CRR quick-fix clarifies the treatment of total loss-absorbing capacity (TLAC) surpluses located in third countries for banks with multiple points of entry (MPE) resolution strategies. Read more |
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FROM THE EBF this week
Joint letter for safeguarding the proper functioning of the EU ETS
The European Banking Federation (EBF) co-signed a joint industry letter to the Czech Presidency of the Council of the European Union, the European Commission, and the European Parliament, calling for the proper functioning of the EU Emissions Trading System (EU ETS) to be safeguarded. 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
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
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