EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 6 March 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
FT: European banks explore shift to single-day trade settlement
European banks and brokers are exploring halving the two-day window to finalize share trades to avoid falling behind the US in a race to upgrade the plumbing of global capital markets. According to the Financial Times (FT), the Association for Financial Markets in Europe will set up a new industry group to assess the practicality of settling millions of securities deals in a single day across the region. Read more
Bloomberg: ECB rate hikes may need to continue past March
European Central Bank (ECB) President Christine Lagarde said interest-rate increases may need to persist beyond a planned half-point move in two weeks’ time. Asked about the terminal rate, she said: “The honest answer is that it will be determined by data,” Bloomberg reports. Read more
Reuters: Russia to extend capital controls amid economic pressure
Russia's central bank to extend capital controls affecting foreign currency withdrawals and transfers abroad, warning that some sectors continued to feel the pinch from sanctions despite resilience. As reported by Reuters, Central Bank Governor Elvira Nabiullina warned of "systemic risks" to the banking sector as lenders scrambled to make up for last year's slump in profits, but played down the effect of the latest round of Western sanctions. Read more |
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FINANCIAL REGULATION AGENDA for next week Monday 6 March Tuesday 7 March
Wednesday 8 March
Thursday 9 March Friday 10 March |
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FROM EBF MEMBERS NVB: Banks in action for the climate In the fifth interview by the Dutch Banking Association (NVB) on the climate commitment of the financial sector, Michiel Ellens, Sector specialist Municipalities, Climate Adaptation, and Climate Mitigation at BNG Bank says: 'Whether we achieve our objectives as a public bank depends on our customers. That's quite exciting.' Read more (NL)
BdB: Part-time without losses: five financial tips
If you want to work part-time, planning is key. What is your expected net salary? What pension gap will arise? And how can you make financial provisions? The Association of German Banks (BdB) shares tips for part-time work without losses. Read more (DE) Finance Norway: Proposal for a new financial supervision act A new proposal for the Financial Supervision Act Committee recommends limiting the ministry's right to instruct the Norwegian Financial Supervisory Authority in handling individual cases in ordinary supervisory activities. Finance Norway will familiarize itself with the proposal and submit a response to the consultation. Read more (NO) |
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FROM THE INSTITUTIONS
ECB: Quantitative tightening: rationale and market impact
Isabel Schnabel, Executive Board member of the European Central Bank (ECB) said that quantitative tightening is warranted to regain policy space, mitigate side effects, and support the ECB policy stance. "Prospects of a balance sheet run-off are likely to have already contributed to a gradual decompression of risk premia," she adds. Read more
EIOPA: Chairs EU Agencies Network
The European Insurance and Occupational Pensions Authority (EIOPA) has taken over for the next year as Chair of the EU Agencies Network (EUAN), the forum that brings together all EU agencies and joint undertakings to cooperate on matters of mutual interest. Read more
EC: Digital Services Act: Commission sets rules on supervisory fees for very large online platforms and search engines
Under the Digital Services Act (DSA), the European Commission (EC) is empowered to impose a fee on providers under its supervision. The Commission has set detailed rules and procedures for such fees to be levied on Very Large Online Platforms (VLOPs) or Very Large Online Search Engines (VLOSEs) under the DSA. 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.
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