EBF WEEKLY + FINANCIAL REGULATION AGENDA
for the week starting Monday 4 April 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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EU Digital Finance Platform launch event on Friday, 8 April |
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This online event is organized to mark the launch of the EU Digital Finance Platform on Friday, 8 April 2022. Commissioner Mairead McGuinness will open the event while a panel will explore the key functionalities of the Platform; closing remarks will be by Verena Ross, Chair of the European Securities and Markets Authority (ESMA). The EU Digital Finance Platform is a website designed to build dialogue between innovative financial firms and supervisors to overcome fragmentation and support the scaling up of digital financial services across the Single Market. The EU Digital Finance Platform will initially consist of two main building blocks: an Observatory offering interactive features and a Gateway which will act as a single access point to supervisors. Read more | | |
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FROM THE MEDIA FT: Banks face new standards on carbon emissions disclosure Financial institutions will be expected to publish estimates of the carbon emissions linked to their loans and investments, under draft International Sustainability Standards Board (ISSB) standards. The requirement for banks and institutional investors to disclose emissions linked to their financial assets is a significant element of the proposed standards, ISSB chair Emmanuel Faber told the Financial Times (FT). Read more
Bloomberg: ECB in daily contact with banks on Russia sanctions
As reported by Bloomberg, the European Central Bank (ECB) said it is in daily contact with banks on how they’re dealing with the implications of sanctions against Russia over its invasion of Ukraine. “In particular, we are assessing whether banks have implemented adequate internal governance arrangements and controls to adhere to the sanctions,” Andrea Enria, who leads the ECB’s supervisory board, said. Read more
PYMNTS.com: ECB, Fed, BoE Work on an interoperable CBDC
In a speech before the European Parliament, Fabio Panetta, a Board of the European Central Bank (ECB) member, said that central banks, including the Bank of England (BOE), and the ECB, are discussing how to align their projects to have interoperable central bank digital currencies (CBDCs). According to Panetta, none of the central banks that have retail CBDCs in circulation has allowed consumers to use digital currencies offline. However, the ECB is exploring offline payments between merchants and consumers when they are in close proximity, PYMNTS.com reports. Read more |
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FINANCIAL REGULATION AGENDA for next week
Monday 4 April
European Parliament plenary session (Strasbourg, France) Deadline for submissions on European Banking Authority consultation on draft RTS on IRRBB standardized approach Tuesday 5 April Economic and Financial Affairs Council Wednesday 6 April Thursday 7 April Friday 8 April Council Working Party on Tax Questions (Indirect Taxation) For a full-year overview of key financial regulation events: click here |
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FROM EBF MEMBERS ABBL: Consultation on a standardized assessment for retail investors The European Commission published a consultation on a new type of suitability assessment for retail investors, which aims to better support them in their investments. The Luxembourg Bankers' Association (ABBL) does not support the proposal for a standardized retail investor assessment regime. Read more
BdB: Ukraine aid: How to donate safely!
People are concerned with the current events in Ukraine and some may want to show their support with a donation. However, it is important to make sure donations are going to legitimate organizations. The Association of German Banks (BdB) has put together tips on how to donate safely to reduce the risk of donations ending up in the account of scammers. Read more (DE)
Finance Finland: Banks' variable capital requirements unchanged
Finland's Financial Supervisory Authority (Fiva) will keep the mortgage loan cap and the banks' variable capital add-on unchanged at 0%. Fiva warns that key risks to the functioning of the financial system are posed by the geopolitical situation, high inflation, and a continuation of the interest rate pandemic. Veli-Matti Mattila, Chief Economist and Director of Finance Finland, echoes Fiva's concern: the long-lasting buoyant housing market is expected to slow down in the coming months and the growth forecasts will be revised downwards. Read more (FI) |
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FROM THE INSTITUTIONS ECB: Monetary policy response to the pandemic The end of March marks the conclusion of the European Central Bank (ECB) net asset purchases under the pandemic emergency purchase program (PEPP). The ECB Chief Economist Philip R. Lane reviews monetary policy response to the pandemic and discusses current challenges in a lecture at the Paris School of Economics. Read more ESMA: ISINs available before second publication of annual transparency calculations The European Securities and Markets Authority (ESMA) published the list of instruments (ISINs) that will complement the results of the annual transparency calculations for equity and equity-like instruments on 8 April 2022. Read more EIOPA: Draft amendments to supervisory reporting and disclosure requirements The European Insurance and Occupational Pensions Authority (EIOPA) submitted to the European Commission the draft amendments of regulations (Implementing Technical Standards - ITS) laying down supervisory reporting and disclosure requirements under Solvency II. Read more |
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FROM THE EBF this week
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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