EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 15 March 2021 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.
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Eurogroup to detail Covid-19 impact on the euro area economy |
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EU finance ministers will gather virtually Monday and Tuesday for the Eurogroup and Ecofin meetings. Eurogroup President Paschal Donohoe will report on the impact of the COVID-19 pandemic on the euro area economy and the structural changes it has triggered. Finance ministers will also take stock of the state of play on fiscal support measures. The aim is to agree on the main messages of the ongoing coordinated fiscal response. On Tuesday, ministers will have an exchange of views on the way forward on tax challenges arising from digitalisation. The EU Presidency and the Commission will inform ministers on the outcome of the meeting of G20 finance ministers and central bank governors on 26 February 2021. Ministers will also take stock of the preparations for the Euro Summit of 26 March 2021, G20 and IMF spring meetings that will take place from 7 to 10 April 2021. Eurogroup Agenda Ecofin Agenda |
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FINANCIAL REGULATION AGENDA for next week
Monday 15 March:
European Parliament Committee on Women’s Rights and Gender Equality EBF Financial Education Project Group virtual meeting EBF Public Affairs Network virtual meeting (Guest speaker: Martin Merlin, DG FISMA) Tuesday 16 March: EBF Cloud Expert Group virtual meeting Wednesday 17 March: Thursday 18 March: Council Working Party on Financial Services meeting EBF Governance Task Force virtual meeting EBF Communication & CSR Steering Group virtual meeting Friday 19 March: For a full-year overview of key financial regulation events: click here |
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EVENT SERIES ON FINANCIAL LITERACY IN EUROPE
DAY 1: Financial security at an older age:
What do we need to prepare for? Tuesday 23 March, 16:00 CET
Longer life expectancy together with evolving pension and social welfare systems means Europeans today must consider different things when planning their retirement than the previous generations. New study on retirement and debt in the US by professors Olivia S. Mitchell and Annamaria Lusardi reveals worrying new patterns for those near or in retirement. In particular, debt appears to follow individuals way past their working years. READ MORE
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FROM THE MEDIA this week
CNBC: ECB plans to ramp up bond buying to tackle surging yields
The ECB’s bond purchases in the first quarter have been lower than usual and the central bank said it expected to ramp up its purchases going forward, CNBC's Sivia Amaro reports. Read more FT: Amsterdam’s surprise early winner as Brexit shakes up the City The Dutch city has taken some business from London, but Frankfurt and Paris are better placed to take long-term advantage, writes the FT. Read more (€)
S&P Global: Italy shows most promise as Europe's domestic bank M&A wave continues in 2021
"Local capital requirements remain largely uncertain when banks assess the long-term business rationale of a merger," Gonzalo Gasos, senior director of prudential policy and supervision at the European Banking Federation, said in an interview with S&P Global Market Intelligence. Read more
Finextra: European Banking Authority hit by cyber-attack
The European Banking Authority (EBA) has taken all email systems offline after being hit by a cyber-attack targeting its Microsoft Exchange Servers, writes Finextra. The EBA says that access to personal data through emails held on MS Exchange servers may have been obtained by the attacker. Read more
Reuters: Spanish aid to SMEs won't have compulsory haircuts after banks put up a fight
Any restructuring of state-guaranteed debt accumulated by Spanish SMEs during the COVID-19 crisis will not be compulsory for banks, according to government and financial sources, a softening of the original aid proposal. Read more |
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FROM EBF MEMBERS this week
Bankenverband: Gender aspects in investment
Women attach more importance to the sustainability of their investments. This is shown by a special evaluation of our latest survey on financial investment on the occasion of International Women's Day, The Association of German Banks (Bankenverband) reports. Read more (DE)
ABI: Loan applications for over 293 billion under moratorium
The Italian Banking Association (ABI) shares preliminary data from the Bank of Italy on the loan application as of February 26. Over 2.7 million requests for a moratorium have been received on loans, for approximately 293 billion euros. Read more (IT)
AEB: Volunteers from banks give financial education to 4,900 students
More than 4,900 students between 13 and 15 years old throughout Spain have received online financial education during the 2020-2021 school year, thanks to volunteers employed by banks who have participated in the sixth edition of the program 'Your finances, your future' organised by the Spanish Banking Association (AEB). Read more (ES)
ABBL: Commitment to gender equality and women's empowerment
The Luxembourg Bankers’ Association (ABBL) has signed the Women’s Empowerment Principles. Established by the United Nations Global Compact and UN Women, the United Nations, these principles are the first vehicle to concretely implement gender equality and women’s empowerment in the workplace. Read more
FBF and France Active event: Women take on the recovery
On the occasion of International Women's Day, France Active and the French Banking Federation (FBF) have joined forces to give the floor to three women entrepreneurs who are committed to tackling the crisis. On the agenda: access to finance, impact of the crisis and recovery. Watch here |
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FROM THE INSTITUTIONS this week
ECB: Monetary policy decisions
ECB announced it will accelerate its bond-buying programme under the emergency purchase programme (PEPP). It stated that ‘purchases under the PEPP over the next quarter to be conducted at a significantly higher pace than during the first months of this year.’ It will continue this programme until it deems the COVID-19 crisis is over. Read more
EBA assesses consumer trends for 2020/2021
EBA published its Consumer Trends Report for 2020/2021. The Report identifies topical issues including irresponsible lending, creditworthiness assessments, and digitalisation, which the EBA has very recently addressed, as well as others, such as selling practices and access to bank account, which it has recently started to work on. Read more BIS Working Paper on Fintech Gender Gap BIS has published a working paper on the gender gap in fintech. BIS conducted a survey of over 27,000 adults from 28 major economics to investigate gender differences in the adoption of new fintech. Read more
EBA consults on guidance on how to grant authorisation as credit institution
The European Banking Authority (EBA) publishes a Consultation Paper on its Guidelines on a common assessment methodology for granting authorisation as a credit institution. The consultation runs until 10 June 2021. Read more
European Commission: Reports on sustainable finance
The European Commission has welcomed the publication of two reports on the development of EU sustainability reporting standards produced by the European Financial Reporting Advisory Group (EFRAG). Read more |
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FROM THE EUROPEAN BANKING FEDERATION this week
Proposals for recognition of transition finance in the EU legislation: EBF response
EBF published a series of answers to the questions the European Commission addressed to the EU Platform on Sustainable Finance in its call for advice on financing transition. Read more
European Banking Federation is hiring!
The European Banking Federation is looking for two trainees to join the Communications and Events team and the Financing Growth team. 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 mediacentre@ebf.eu
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