EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 5 December 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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FROM THE MEDIA FT: EU looks to exclude banks and funds from sustainability rules EU ministers have backed a carve-out for banks and investment funds from a landmark regulation designed to force companies to report on environmental and human rights abuses in their supply chains. Four diplomats confirmed to the Financial Times (FT) that France had been behind the last-minute effort to have financial institutions excluded as it tries to make Paris a hub for international finance. Read more
Reuters: Eurozone banks not facing up to reality of downturn, ECB says
Eurozone banks have not yet fully faced up to the reality of an economic downturn, so finance industry supervisors will need to force them to be more conservative in managing capital, ECB supervisory chief Andrea Enria said. According to Reuters, the ECB would also soon publish the results of its investigation into the ties between banks and the rest of the financial sector following a series of crises. Read more
Bloomberg: European banks are worst-placed for a long recession
European banks are poorly positioned for a long recession due to high capital burdens and low-interest rates, McKinsey & Co. said in its annual report on the state of the industry. As reported by Bloomberg, the fragmented nature of Europe’s banking sector makes it hard for its myriad of small and mid-sized lenders to compete at scale in larger markets. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 5 December
Joint meeting of the European Parliament Committee on the Environment, Public Health and Food Safety and the Committee on Committee on Economic and Monetary Affairs Tuesday 6 December Wednesday 7 December Council Horizontal Working Party on Cyber Issue UK in a Changing Europe economics panel
Thursday 8 December
International Contemporary Financial Management Conference (Gonzalo Gasos, EBF Senior Director of Prudential Policy and Supervision speaking) Afore Consulting and U.N. High Level Expert Group 'Net Zero Pledges' seminar Friday 9 December Council Horizontal Working Party on Cyber Issues
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS Febelfin: Shortage of 5, 10, and 20 euros coins Febelfin notes that the coins of 5, 10, and 20 euro cents do not circulate enough. Since the corona crisis, consumers are using these small coins less and less to pay for their purchases, probably forgetting them deep in their pockets or purses. This hoarding leads to a shortage of these coins among traders and banks. Read more (FR)
Finance Denmark: Families can buy smaller houses than last year
Due to higher interest rates as well as more expensive energy and consumer goods, Danish families can today afford to buy a house 20 square meters smaller than a year ago. And another 10 square meters must be cut off if the house is heated with gas rather than district heating. This is shown by a new analysis from Finance Denmark. Read more (DK)
ABI: The Annual Forum on human resources in banking started
The fifteenth edition of the 'HR Forum - Banks and Human Resources' started. The event is organized by the Italian Banking Association (ABI) to discuss employment and relations with trade unions. This year, the Forum focuses on transition processes, including those resulting from digital transformation and 'new geographies'. Read more (IT) |
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FROM THE INSTITUTIONS ECB: The impact of the European Climate Law 'We can’t overstate the importance of European Climate Law and the EU is setting the bar high,' says European Central Bank (ECB) Executive Board member Frank Elderson. As a central bank and banking supervisor, policies will duly take into account the objectives of the Climate Law, he adds. Read more
BIS: Gabriel Makhlouf: Collaborative leadership, collective stewardship
'Our responsibility as leaders is to inspire and support those creative efforts as we meet the challenges in front of us,' says Gabriel Makhlouf, Governor of the Central Bank of Ireland. In the speech published by the Bank for International Settlements (BIS), he highlights the importance of diversity, connections, outcomes, ambition, and leadership. Read more
ESMA: NCAs to maintain resilience of liability-driven investment funds
The European Securities and Markets Authority (ESMA) is welcoming the initiative of two National Competent Authorities’ (NCAs) in relation to Liability Driven Investment Funds (LDI Funds). ESMA supports coordinated supervisory actions and information sharing among NCAs, as well as converging measures to address risks that may pose a potential threat to financial stability. Read more |
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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 |
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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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