EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 4 December 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! |
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FROM THE MEDIA
The Banker: Banks face tougher requirements as EU reaches provisional agreement on instant payments
Euro instant payments will become universally available under a provisional agreement between the European Commission and Parliament, but its requirements may pose challenges for banks. As a result of the banking industry pushing back on formerly proposed timelines, banks will now have nine months to receive inbound instant payments instead of six and 18 months to process outbound instant payments, The Banker reports. Read more
Reuters: EU to adopt broader approach to boost capital market
Private finance has a key role in deepening the EU capital market to boost investment, with the bloc's finance ministers turning to "bottom-up" measures for faster progress, Central Bank of Ireland Deputy Governor Derville Rowland said. As reported by Reuters, Rowland added that the push towards a deeper capital market would also focus on steps taken at the national level or initiatives by market participants. Read more
S&P Global Market Intelligence: Prospect of widespread, lingering European bank taxes spooks investors
New bank taxes implemented across Europe in the last 18 months could be in place much longer than originally planned, intensifying concerns among investors already wary of the region's lenders. "While some windfall taxes have specific end dates, I think many will be extended beyond those dates," Adrian Prettejohn, Europe economist at consultancy Capital Economics told S&P Global Market Intelligence. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 4 December
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Council Horizontal Working Party on Cyber Issues -
Council Working Party on Tax Questions (Direct Taxation) -
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International Platform on Sustainable Finance (IPSF) Annual Event (EU at COP28) -
Tuesday 5 December
Wednesday 6 December
Thursday 7 December
Friday 8 December |
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FROM EBF MEMBERS
AEB: Promoting the inclusion of people with disabilities
Plena Inclusión and the Spanish Banking Association (AEB) Foundation have signed a collaboration agreement to develop activities to improve the financial and digital skills of people with intellectual or developmental disabilities. The objective is to carry out initiatives that contribute to the participation of this group in society. Read more (ES)
ABBL: Updated guidance and engagement with the Global Forum
The Luxembourg Bankers' Association (ABBL) met the assessment team of the Global Forum to discuss the implementation of the Automatic Exchange of Financial Account information. Ten years on, ABBL remains fully committed to Tax Transparency and is providing its members assistance in the implementation of underlying standards. Read more
Finance Finland: Will the Wild West of ESG ratings soon be history?
The European Commission has published a proposal for a regulation on ESG ratings. The regulation aims to make it easier for investors, companies, and other entities to assess sustainability factors. Finance Finland supports the proposal but considers it important to ensure that its scope of application is purposeful and it will not introduce any unnecessary barriers to market entry. Read more |
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FROM THE INSTITUTIONS
ECB: The benefits of single supervision for the banking sector
"We have a strong banking sector in Europe which has gone from amplifying shocks to absorbing them," says European Central Bank (ECB) President Christine Lagarde. European banking supervision’s work has been key to this. Read more
EBA: Commitment to enhance climate-related and broader sustainability considerations in the EU banking sector
The European Banking Authority (EBA) published its environmental statement in the context of the 2023 United Nations Climate Change Conference (COP28). The EBA highlighted its effort to integrate sustainability aspects in areas such as risk management, disclosures, supervisory practices, climate stress testing, and the Pillar 1 framework. Read more
ESAs: Clarity and tips to consumers on sustainable finance
The three European Supervisory Authorities (ESAs) published an interactive factsheet that answers consumers’ most frequently asked questions about sustainable finance. The factsheet provides tips to consumers considering buying financial products with sustainability features, including loans, investments, insurance, and pensions. Read more |
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FROM THE EBF
Report of the C-ESG Risk Roundtable Data Workstream
This report is a result of the joint work of the WS members facilitated by Nordea Bank Abp in its role as Data WS (DWS) chair. The objective of the report was to identify commonly applied practices for addressing data and methodological uncertainties associated with disclosures against the Implementing Technical Standards (ITS) on prudential disclosures and ESG risks (Pillar 3). 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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