EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 6 November 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! |
|
FROM THE MEDIA
Reuters: After aggressive rate hikes, big central banks take time out
After almost two years of aggressive monetary tightening, the world's biggest central banks are taking time out before weighing up their next move. As Rueters points out, the focus of financial markets has shifted to when central banks will start to loosen policies as economic growth slows and inflation eases. Read more
Finextra: SNB moves CBDC into production on SIX digital exchange
The Swiss National Bank (SNB) is to issue its first real wholesale central bank digital currency (CBDC) for tests with six commercial banks operating on the distributed ledger platform of SIX Digital Exchange. The pilot, called Helvetia Phase III, marks the first time the central bank has moved from test environments into production. Read more Bloomberg: ECB’s Knot says current policy is ‘good cruising altitude’ European Central Bank (ECB) Governing Council member Klaas Knot said current monetary-policy settings can probably be left untouched for the time being. "It is likely that restrictive policies will remain necessary for some time to bring inflation back towards the target," the Dutch official said in a speech on Thursday, Bloomberg reports. Read more |
|
FINANCIAL REGULATION AGENDA for next week
Monday 6 November
Council Working Party on Tax Questions (Direct Taxation)
Tuesday 7 November
Council Working Party on Tax Questions (Indirect Taxation) FinTech Innovators 'Advancing AI in Finance' webinar (Sebastien de Brouwer, EBF Chief Policy Officer, speaking) Wednesday 8 November Council Working Party on Tax Questions (Indirect Taxation) Thursday 9 November
Friday 10 November
Council Horizontal Working Party on Cyber Issues |
|
FROM EBF MEMBERS
BdB: Many questions are still open about the digital euro
Heiner Herkenhoff, president of the German Banking Association (BdB), commented on the European Central Bank's (ECB) plan for a digital currency to be introduced in the Eurozone.
He emphasised that the preparatory phase does not mean that we are only a few steps away from the introduction of the digital euro and that a large number of questions still need to be answered. Read more (DE)
Finance Finland: Payment services regulation is being revised again
The Commission is preparing another major reform of the regulation of payment services with an updated Payment Services and Electronic Money Services Directive (PSD3) and a Payment Services Regulation (PSR). This will lead to important changes in the regulation of payment services. Finance Finland's objectives are to ensure that the costs and implications of the revision are carefully assessed and closely monitored. Read more
UK Finance: Initial priorities for the next phase of Open Banking
Open Banking has spread all over the world. In April, the Joint Regulatory Oversight Committee published its recommendations for the next phase of Open Banking. UK Finance is actively contributing to this work and fully supports these objectives. Read more |
|
FROM THE INSTITUTIONS
ECB: Euro area bank interest rate statistics: September 2023
The European Central Bank (ECB) published the eurozone bank interest rate statistics for September 2023. The press release analyses how the rates have evolved in September compared to August data. Read more
ESMA: Data for quarterly bond liquidity assessment and the systematic internaliser calculations
The European Securities and Markets Authority (ESMA), has published the new quarterly liquidity assessment of bonds, the data for the quarterly systematic internaliser calculations for equity, equity-like instruments, bonds and for other non-equity instruments under MiFID II and MiFIR. Read more
BIS: Lessons from recent experiences in EMEs
This article by the Bank for International Settlements (BIS) analyses how currency appreciation in emerging market economies (EMEs) has gone hand in hand with increased risk-taking, higher capital flows and more accommodative financial conditions, against the backdrop of the increasing share of foreign investment in local currency assets in EMEs' external financing since 2007. Read more |
|
FROM THE EBF
EBIC calls for postponement of the Basel III EU implementation date
The European Banking Industry Committee (EBIC) submitted a joint letter to the co-legislators asking for a postponement of the Basel III implementation date in the EU. Given the substantial and comprehensive nature of the forthcoming legislative changes, a minimum of 18 months between the publication of CRR III rules in the Official Journal of the EU and the effective implementation date of the new rules will be necessary. 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 |
|
This newsletter is published by the EBF Mediacentre.
For questions or suggestions contact v.barbieri@ebf.eu
European Banking Federation Avenue des Arts 56, B-1000 Brussels, Belgium
|
|
|
|
