European Banking Federation

The EBF welcomes the Omnibus package as a key step towards a simpler and more competitive EU sustainability framework, which goes hand in hand with the Clean Industrial Deal and is essential to supporting European companies in their transition efforts. We fully support the European Commission’s commitment to reducing reporting complexity, including revising the ESRS and easing the financial sector’s reporting burden under the EU Taxonomy.   🖇️Read our full statement on the website. https://lnkd.in/eTKQN9Qk

Thank you Commissioner Valdis Dombrovskis for today’s productive discussion with the EBF on the state of play of the banking sector Omnibus proposal ✅ We welcome and support the EC's initiative to review the sustainable finance reporting package. While keeping the EU's ambitious climate, environmental and social objectives, the framework needs simplification to support companies’ transformation and management suitably, without compliance and reporting burdens.  ✅ Any simplification for non-financial companies and SMEs must align with an equivalent removal of reporting requirements on FIs (which rely on customer data).   📑 CSRD  👉Avoid new reporting requirements. Instead provide guidelines of existing standards 👉 Strengthen coordination between global standard setters (ISSB and EFRAG) to ensure a fair playing field for EU companies 👉Focus on efficiency and build on guidelines already in place (NZBA, GFANZ)  👉 Avoid overlapping between the information requested under the CSRD and Pillar 3 🔎CS3D 👉 Put on hold until colegislators agree on the Omnibus package 👉 Align legislation with global commitments. Any deviation from the temperature increase limit 1.5º C should be adjusted in transition requirements  👉 Remove the review clause of extending due diligence on clients for the financial sector for a level playing field with other sectors. Simplify suppliers requirements  ⚠️Taxonomy 👉Withdraw the GAR and BTAR as it has very limited information value👉Reduce the number of templates  to be disclosed 🚨Need for a regulatory pause while the Omnibus process unfolds and is (hopefully) implemented quickly (fast track) Regulatory and Supervisory Efficiency ⚽Advocate for a level playing Field in the implementation of international standards in other relevant jurisdictions  🎯Simplify level 2 and L3 legislation and supervisory processes   Fraud prevention 🔎 To fight digital fraud, Europe requires transversal measures in all digitalization environments (public administration, telcos, social media): A security issue that affects society. Imposing systematic reimbursement obligations on PSPs will not adequately address the root causes of fraud Digital 📑 The Digital Euro should start simple. A gradual rollout is key, focusing on limited use cases like P2P and e-commerce. It must not undermine private European initiatives like Wero and EuroPA to support innovation and financial stability  🚨FIDA needs a rethink. Data sharing should focus on real user needs and the value of combining data. Before implementation, it must thoroughly evaluate its impact on the industry Retail Investment Strategy 👉Today’s strategy introduces new layers of complexity. We need to simplify procedures, reduce administrative burdens, and ensure retail investors access expert advice, qualitative services and all investment products without being hindered by regulation  Looking forward to collaborating with the EC as the presented work program unfolds!

Yesterday, our CEO Wim Mijs, Deputy CEO Sébastien de Brouwer, and Executive Committee Chair Maria Abascal met with Commissioner Valdis Dombrovskis for a high-level discussion on ensuring a competitive, sound, and resilient European banking sector that aims to fully play its role as a strategic sector in accelerating the building resilience and restoring European competitiveness. The EBF highlighted the following messages: 1.  Global level playing field: EBF called for postponing the implementation of the Fundamental Review of the Trading Book (FRTB) by granting an opt-in, allowing banks to choose whether to implement it in January 2026 or postpone it to January 2027. More broadly, the regulatory and supervisory framework should be evaluated based on competitiveness. Levels 2 and 3 should align with the level 1 objective to avoid unnecessarily restricting banks’ lending capacity and hindering economic growth. Any gold-plating measures should be removed. The Less is More Report was shared with the Commissioner. 2. Simplification: A comprehensive review of the regulatory framework is needed to eliminate unnecessary burdens and ensure predictability. The EBF welcomed the omnibus package and stressed that well-tailored, proportional requirements in the Taxonomy regulation, CSRD, and CSDDD are vital for boosting efficiency, supporting the green transformation, and enhancing competitiveness. It is however important to make sure that key data needed by the banking industry from companies of different sizes remain publicly available. It is also key to align banks' reporting requirements with corporate requirements. Simplification should also extend beyond sustainability to include banking regulation and supervision, digital finance (including the Financial Data Access regulation), and the Retail Investment Strategy (RIS). 3. Digital euro: A carefully designed digital euro, if decided, should support existing payment solutions while protecting financial stability and lending capacity. A wholesale Central Bank Digital Currency (CBDC) could provide immediate benefits by enhancing transaction safety and efficiency. 4. Fighting digital fraud: Europe must implement cross-sector measures across all digital environments - including public, telecoms, and social media- to effectively combat digital fraud, which is a significant security issue. Relying solely on systematic reimbursement obligations for payment service providers (PSPs) will not address the root causes of the problem. We thank Commissioner Dombrovskis for his engagement and look forward to continued collaboration to shape a resilient and dynamic banking sector that supports European households and businesses.

Join us on Tuesday, March 18, from 9 AM to 3 PM at the EBF premises in Brussels for the 11th edition of European Money Week. With less than a month to go, this year’s European Money Week theme, "From Financial Literacy to European Legacy: Building Financially Resilient Generations," highlights the importance of equipping citizens with the knowledge and skills for a stronger financial future. The event will bring together policymakers, financial sector leaders, and education experts to explore the role of financial education in economic resilience, national strategies, the fight against cybercrime, and public-private partnerships driving financial empowerment. Confirmed speakers include: Maria Abascal, Director General of the Spanish Banking Association and Chair of EBF Executive Committee  Magda Bianco, Head of the Bank of Italy Consumer Protection and Financial Education Department  Peter Göransson, Senior adviser, Swedish Banking Association  Panu Kalmi, Professor of Economics, School of Accounting and Finance, University of Vaasa, Finland MEP Victor NEGRESCU, Vice President, European Parliament  Eric van der Schild, Chair of the EFIPPP Steering Group, EUROPOL    The agenda and the full list of speakers will be available closer to the event. 🖇️ Register here: https://lnkd.in/eHuY8aJH

The European Commission's Omnibus Simplification Initiative is a significant step towards aligning Europe's competitiveness with sustainability. Simplification is an opportunity to re-focus on core elements needed to achieve EU objectives: • Review relevance of the CSRD data points and Taxonomy KPIs • Preserve data essential for the banking industry—removing core data from the CSRD or removing certain companies from its scope altogether will result in a situation where data will need to be collected through bilateral engagement with clients • Envisage consistency check for financial sector regulation—banks should not be required to report data not reported or not considered material by their clients themselves • Neither should banks be expected to report data and ratios that are not decision-useful, comparable, or faithfully representative—remove or significantly re-design the Green Asset Ratio (including urgent clarification on KPIs, such as the trading book and fees and commissions, that are to be reported in 2026 to avoid significant investments for KPIs that may be suspended) • Simplify the EU Taxonomy DNSH and alignment assessment process. Retail clients should not be subject to DNSH and MS checks • Avoid the trickle-down effect for companies not in the scope of CSRD or CSDDD (e.g., by bringing SMEs to the GAR numerator or extending the scope of the CSDDD to banks’ downstream value chain) • Develop sector-specific guidance to facilitate sector-agnostic ESRS implementation rather than creating new sector-specific requirements The EBF has outlined key recommendations to ensure the Omnibus Simplification Initiative achieves its goals without compromising the EU's sustainability and competitiveness objectives. 🖇️Read our position paper to learn more: https://lnkd.in/e7ZcMkar

As the EU moves forward with Basel III/IV transitional arrangements, the UK has postponed implementation until 2027, and the US is reconsidering its approach. Meanwhile, Canada, Japan, and Australia remain committed to early adoption. What are the implications for European banks operating globally? How will regulatory divergence shape financial stability and competitiveness in an era of geopolitical uncertainty? Join Gonzalo Gasós (European Banking Federation), Adrian Docherty (BNP Paribas), and Mohsin Ali Khan (S&P Global Market Intelligence) for an expert discussion, moderated by Vanya Damyanova (S&P Global Market Intelligence), on March 5th. 🖇️ Don’t miss the upcoming online webinar hosted by the European Banking Federation and S&P Global Market Intelligence. Register here: https://t.ly/0WYXD

The EBF, in partnership with Connect Europe and UNI Europa, is commencing an EU-funded project “Shaping generative AI for a sustainable and fair services economy”. This is a call for subcontractors to provide expertise as part of the project led by European social partner organisations of the audiovisual, banking and telecommunications sectors. Interested parties are invited to submit proposals by 16 March 2025. For more details, please refer to the project call for tender. 🖇️ https://lnkd.in/eai2rTuR

EBF is looking for a Innovation & Cybersecurity Trainee for a paid six-month internship starting April 2025 in Brussels! Why join us? ✅ Work on cutting-edge topics: digital euro, AI, open finance & cybersecurity ✅ Engage with EU policymakers & financial industry leaders ✅ Gain hands-on experience in financial regulation & digital innovation Are you the one? ✅ Passionate about digital transformation & EU affairs ✅ Background in law, political science, or related fields ✅ Strong research, analytical & communication skills ✅ Fluent in English Apply by 25 February 2025! 🖇️ Read more: https://lnkd.in/ecNjqqdZ

Strengthening Europe's prosperity and creating better opportunities for citizens to improve their financial security is central to the European Commission's five-year agenda. To deliver Europe's ambition and create an economically resilient society, Europeans must continue to build financial awareness, knowledge, skills, attitudes and behaviours necessary to make sound financial decisions. Against this backdrop, the European Banking Federation is organizing the 11th edition of European Money Week 2025 at its premises in Brussels on Tuesday, March 18th, from 9 AM to 3 PM. The event will bring together policymakers, financial sector leaders, and education experts to explore the latest developments and initiatives in the field of financial literacy. Discussions will include: ✔️Overview of Europe's vision for financial education and its role in fostering economic resilience ✔️ Discussion of national strategies in financial education ✔️ Exchange on the fight against cybercrime through financial literacy ✔️ Deep-dive on how public-private partnerships are driving financial empowerment 🖇️ Register here: https://lnkd.in/eHuY8aJH

Representatives from thirteen EU and UK industry associations gathered in Brussels today to exchange on key topics for the financial services sector such as markets, financial stability, sustainable and digital finance. This informal industry roundtable comes one day before the EU-UK Financial Regulatory Forum – a much-valued dialogue between EU and UK regulators on regulatory changes, promoting collaboration on financial stability, sustainability, and digitisation. EU and UK associations support a more ambitious and transparent dialogue between their regulators to help strengthen the region’s position in global financial governance. 🖇️ Read the full statement here: https://lnkd.in/ehmaZ_aQ #FinancialServices #RegulatoryCollaboration #FinancialStability #Sustainability #GlobalGovernance #RegulatoryDialogue   AFME (Association for Financial Markets in Europe) ACCIS City of London Corporation EFAMA Federation of European Securities Exchanges FIA, Inc. Insurance Europe Invest Europe ISDA TheCityUK The Investment Association UK Finance