EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 5 June 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
Reuters: Watchdog to study Silicon Valley Bank, Credit Suisse turmoil
How rules are applied to banks and the calculation of their liquidity buffers should be reviewed following recent turmoil in the banking sector, Klaas Knot, chair of the Financial Stability Board (FSB) said at an event by the European Banking Federation (EBF). As reported by Reuters, he added that unrealized losses may also need to be better reflected in bank capital buffers. Read more FT: EU regulators flag rising greenwashing practices by banks EU regulators have found evidence of widespread greenwashing across the financial system, as concerns grow that banks, asset managers and insurers are overstating their climate credentials. According to the Financial Times (FT), regulators are due to report in a year’s time on how their supervisory powers could be extended to tackle this. Read more S&P Global Market Intelligence: Erdoğan victory casts long shadow over Turkish bank profits Turkish banks are expected to record sharply lower profits in 2023 as President Recep Tayyip Erdoğan's reelection signals a continuation of an unpredictable banking sector policy that has upended lenders' business models. Banks' profitability in 2022 was solid, largely thanks to lower funding costs following interest rate cuts and gains on inflation-linked bonds, S&P Global Market Intelligence writes. Read more |
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FINANCIAL REGULATION AGENDA for next week Monday 5 June Tuesday 6 June -
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Money 20/20 Europe event (Alexandra Maniati, EBF Senior Director of Innovation & Cybersecurity speaking)
Wednesday 7 June
Thursday 8 June
Friday 9 June
For a full-year overview of key financial regulation events: click here
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FROM EBF MEMBERS
NVB: Banks and civil society organizations are joining forces for accessible and inclusive services
Banks are lowering the threshold for help with banking and payments. The Dutch Banking Association (NVB) announced that a trial with three bank information points has been expanded to ten municipalities throughout the country. Read more (NL)
Finance Denmark: Updating the MitID app should reduce fraud and make it easier to use MitID on the mobile
On 6 June, an update to the MitID app will be released, which will reduce the risk of fraud and make it easier to authenticate with MitID from your mobile phone with a new button that users have requested, Finance Denmark reports. Read more (DK)
LBA: Triple-A rating with stable outlook for Liechtenstein
As reported by the Liechtenstein Bankers Association (LBA), the rating agency S&P Global reaffirmed the AAA souvereign rating with stable outlook for Liechtenstein. Read more |
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FROM THE INSTITUTIONS
ECB: We will bring inflation back to 2%
In less than a year, the European Central Bank (ECB) has raised interest rates decisively and inflation is falling, says Executive Board member Fabio Panetta. We should be resolute yet judicious, to bring inflation down without unnecessarily harming the economy. Read more
BIS: Investing in banking supervision
Agustín Carstens, General Manager of the Bank for International Settlements (BIS), spoke at the at the European Banking Federation (EBF)'s International Banking Summit and said that supervisors need to be forward-looking, adopt an intrusive stance and invest in skills and technology. Read more
ESAs: Understanding of greenwashing and warn on related risks
The European Supervisory Authorities (ESAs) published their progress Reports on greenwashing in the financial sector. In these Reports, the ESAs put forward a common high-level understanding of greenwashing applicable to market participants across their respective remits. 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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