EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 3 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

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FROM THE MEDIA

Reuters: Easing bank capital rules won't help EU energy crunch

Loosening capital rules for banks would do little to ease a cash crunch among energy companies due to high gas prices, and risked making lenders less resilient to shocks, according to the European Banking Authority (EBA). As reported by Reuters, among the ideas aired in recent weeks is for the greater use of bank guarantees instead of cash as margin on derivatives positions of energy companies, but they are subject to capital requirements like loans. Read more

FT: Europe faces ‘severe risks’ to financial system, regulators warn

The European Systemic Risk Board (ESRB) have issued an unprecedented warning about “severe risks to financial stability” after concluding Russia’s invasion of Ukraine could create a toxic combination of an economic downturn, falling asset prices and financial market stress. The authority called on regulators to prepare for a potential crisis by requiring financial institutions to build up bigger buffers of capital and provisions that can absorb losses, the Financial Times (FT) reports. Read more

Cointelegraph: ECB reports on digital euro validation

The European Central Bank (ECB) published a progress report on the digital euro that looks at design and policy issues. The ECB has approved exploration of online payments validated by a third party as part of a first digital euro release, as well as an offline peer-to-peer validated solution with no timeline. Online peer-to-peer solutions will not be pursued further in this phase, the Cointelegraph says. Read more

FINANCIAL REGULATION AGENDA for next week

Monday 3 October

• European Parliament plenary session (Strasbourg)

• Eurogroup

• CEPOL ‘Financial Intelligence and Analysis’ event

• European Commission and European Economic and Social Committee 'European Circular Economy Stakeholder Platform'  event

Tuesday 4 October

• Economic and Financial Affairs Council

• European Banking Authority hearing on the supervisory handbook related to the validation of IRB rating systems

• Chatham House 'Climate change 2022' conference

• Czech Presidency of the Council 'Environment for Europe' Ministerial Conference

Wednesday 5 October

• Council Financial Services Committee

• Council Horizontal Working Party on Cyber Issues

• ECB Governing Council non-monetary policy meeting

• European Securities and Markets Authority (ESMA) SMSG meeting

• EESC ‘Prospects for the European economy in times of crisis’ conference

• EESC ‘The Journey of the €uro’ exhibition

• European Investment Bank (EIB) 'How to develop a Circular City Strategy' webinar

• Czech Presidency of the Council of the European Union CSIRTs Network meeting

Thursday 6 October

• European Commission 'The COVID-shock and the new macroeconomic landscape: taking stock and looking ahead' conference

• PIIE ‘Global Economic Prospects: 2022’ event

• Czech Presidency of the Council of the European Union CyCLONe Officers meeting

Friday 7 October

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

• Council Horizontal Working Party on Cyber Issues

• Deadline for submissions on EIOPA consultation on the supervisory statement on differential pricing practices in non-life insurance lines of business

• PIIE ‘The Cashless Revolution: China’s Reinvention of Money and the End of America’s Domination of Finance and Technology’ event

• ENISA ‘Personal Data Sharing — Emerging Technologies’ event

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

The BBVA Center for Financial Education and Capabilities is hosting the EduFin Summit 2022! The event was held in Madrid on September 29th and will take place in Mexico City (Mexico) today. Those interested can attend in person or remotely. The Summit dives into how digital financial capabilities can promote inclusive and sustainable growth and covers digitalization, inclusion and financial health alongside sustainable finance. Read more

FROM EBF MEMBERS

SBA: Welcome to two new members

The Swiss Bankers Association (SBA) is pleased to welcome two new members to its ranks. After several financial institutions have joined the SBA in recent months, Crypto Finance (Brokerage) AG and FlowBank SA also joined the SBA in September 2022. Read more (FR)

Febelfin: We overestimate ourselves on financial knowledge 

In general, Belgians feel that they have sufficient financial knowledge about how to manage their day-to-day business, but research shows that they often overestimate themselves. As reported by Febelfin, Belgians' financial knowledge is lower when it comes to investing, borrowing and pension (saving), especially among young people. Read more (NL)

BdB: What to do if the ATM swallows the card?

As a rule, withdrawing money from ATMs runs completely smoothly. But if something happens out of order, you quickly become unsettled. What can be the reason for a card being withheld by the machine and what can you do in such a case? The Association of German Banks (BdB) gives you the answer! Read more (DE)

FROM THE INSTITUTIONS

ECB: Public-private cooperation on a digital euro

Building the digital euro will require combining the efforts of the public and private sectors and harnessing the strengths of each, says European Central Bank (ECB) Executive Board member Fabio Panetta before the European Parliament. Read more

EBA: Updates in data used for the identification of global systemically important institutions (G-SIIs)

The European Banking Authority (EBA) disclosed data items specific to the recognition of the Banking Union and of institutions that are part of the Single Resolution Mechanism. The publication covers 13 indicators and updated underlying data for the 30 largest institutions in the EU whose leverage ratio exposure measure exceeds EUR 200 bn. Read more

ESRB: The General Board held its 47th regular meeting 

At its meeting on 22 September 2022, the General Board of the European Systemic Risk Board (ESRB) issued a warning on vulnerabilities in the financial system of the European Union. The General Board concluded that risks to financial stability in the EU and the probability of tail-risk scenarios materialising have increased. Read more

FROM THE EBF  this week

EBF president says that governments, regulators and banks in Europe should work together to accelerate the green transition

Ana Botín, European Banking Federation (EBF) President and Executive Chair of Banco Santander, has urged European leaders to work together with banks to accelerate the transition to net zero in response to the energy and climate crisis. Speaking at the EBF’s European Banking Summit 2022, she welcomed the EU’s ambitious plans to invest in the transitions and highlighted the urgent need for action to end Europe’s current dependency on Russian energy and meet net zero targets. Read more

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