Implementation of regulatory changes in lending
The EBA guidelines on loan origination and monitoring are coming into force on 30 June 2021.
EBA
EBA shuts down email systems after damaging cyberattack
EBA affected by global infection of Microsoft Exchange servers.
EBA calls for EU-wide set of anti-money laundering rules
European regulator says national rules have had “an adverse effect” on AML.
EBA looks into adoption of regtech across EU
The banking questionnaire covers initiatives that could support the uptake of regtech solutions.
EU payments bodies call for further SCA delay
An open letter sent to the EBA recommends a June 2021 deadline.
EBA suspends EU banks’ stress tests over coronavirus impact
European regulator encourages flexibility in reaction to the virus.
European Commission warns eight countries over late AML laws
Countries include Cyprus, the Netherlands, Portugal, and Spain.
EBA underlines need for trust as industry adopts big data and analytics
European regulator observes that two-thirds of EU firms now producing big data services.
EBA publishes sustainable finance action plan
EU regulator seeks early action on green investment.
DFS 2019: Europe’s financial landscape a long way from united
Yet there’s hope for harmonisation on the horizon, says panel.
EBA’s migration deadline for SCA must be seen as a warning
Regulator has given plenty of time for merchants to whip themselves into shape.
EBA sets December 2020 migration deadline for SCA compliance
European watchdog gives payments industry just over a year to comply.
EBA publishes work programme for 2020
The EBA will focus on six strategic areas in 2020.
EBA Outsourcing Guidelines or Operational Resilience – which to prioritise?
Operational resilience (OpRes) is the new, grown up way of regulating the financial sector.
Swift awarded ESMIG network service provider status
Swift will be supporting its customers through their Target consolidation projects and the migration to ESMIG.
Danish and Estonian regulators under EBA investigation over Danske incident
The bank has also closed its Baltic and Russian operations.
Denmark’s regulators investigated over Danske Bank €200bn AML breach
European Banking Authority is taking money laundering more and more seriously.
Euro banking watchdog gets anti-money laundering bite
Oh European Banking Authority, what big teeth you have!
Outsourcing to the cloud: the impact of the EBA recommendations
The lowdown on the impact on financial institutions and cloud service providers.
EBA warns banks of obvious threat from fintech
European Banking Authority publishes wordy roadmap.
Finastra Universe London 2017: open banking and the rise of AI
Finastra has revealed its focus on the open innovation of smart technologies in banking, alongside artificial intelligence (AI), machine learning/deep learning.
Open letter to EU decision makers on PSD2 RTS – figo
This open letter from German fintech figo is not about the usual pros and cons of this debate, but intends to provide the European Council with actual solutions, i.e. smart trade-off ideas that could mean an end to the everlasting screen scraping debate and eventually the RTS process.
Analysis: outsourcing to the cloud – EBA’s recommendations
The European Banking Authority (EBA) recently opened a consultation on its draft recommendations for financial institutions outsourcing to cloud service providers across all cloud-related domains including infrastructure, platform and software as a service.
Screen scraping: in or out?
Amid last month’s extensive ransomware attack, made possible after cyber criminals stole hacking tools created by the US National Security Agency, the European Banking Federation (EBF) again urged the European Commission (EC) not to dismiss recommendations about screen scraping.
No EC love for European banks’ screen scraping ban plan
The European Banking Federation’s (EBF) call for the European Commission (EC) to help on a screen scraping ban is not going well. As reported last week, the EBF wants the ban due to concerns over the privacy of client data, cybersecurity and innovation. It wants the EC not to dismiss a key recommendation made by […]
Fintechs blast banks over PSD2 direct access angst
A group of fintech companies and associations are asking for changes to the second Payment Services Directive (PSD2) due to fears it will force them to become technologically dependent on banks. The coalition of 60 European Union (EU) based entities have signed a seven-page manifesto seeking the European Commission (EC) to make changes to the […]
PSD2 and the future of payments
Banks need to do more than just comply with the upcoming revised Directive on Payment Services (PSD2). To survive, banks will need to embrace these changes.
The European Banking Authority favours arbitrary box-ticking over data innovation
The European Banking Authority (EBA) recently proposed new rules that would require payment card operators to enforce additional security measures, such as passwords or security tokens, for all online transactions over €10, aimed at fraud prevention. This is a clumsy solution to a problem that is already being addressed by far more sophisticated means, argues Nick Wallace, senior policy analyst at Centre for Data Innovation, and policymakers should reject the EBA’s proposal.
Shedding light on shadow banking reporting
We take a look at the new EU reporting requirements for managing exposure to shadow banking. There are plenty of challenges ahead, not least for the systems that will need to be updated to ensure that firms are able to adequately cope with the new guidelines.
MyBank seeks participants for Identity Verification Service pilot
MyBank is looking for participants in a pilot phase for its Identity Verification Service to Payment Service Providers and service providers. The pilot will start in mid-November 2015 and run until February 2016. The aim of the pilot is to test the MyBank Identity Verification to ensure reliability, security and the usability of the solution.
Harmonisation of ISO 20022 is crucial – but who should be in charge?
It seems not a day goes by without seeing those three little letters and five numbers – ISO 20022 – appearing in headlines or articles. But hang on a minute, what’s all the commotion about? It’s just another message format that I need to make sure my systems can handle, right?
Pan-European Instant Payment Forum kicks off in Frankfurt
The inaugural meeting of the Open Forum on Pan-European Instant Payments drew 77 representatives from 55 payment service providers, technology providers and other stakeholders to Frankfurt this week to kick off discussions about requirements and collaboration on infrastructure services to support instant payments at a pan- European level.
The e-invoicing play for banks
The replacement of business processes based on paper documents with the exchange of information in electronic form is a highly beneficial global trend, and the competitiveness of Europe’s economic activity will benefit from this migration.
EBA report sets scene for collaboration on supply chain finance
The Euro Banking Association has published results of research and assessment work on supply chain finance topics and alternative electronic payments, including recommendations on managing financial industry collaboration and partnerships.
The Future of Payments: towards a vision for 2020
While the payments landscape has evolved rapidly over the past decade, due to a flurry of innovation and regulation, expansive growth in electronic payments and the inclusion of new market entrants, industry research indicates that the next decade will be a period of even faster changes.
Special Report: Payments modernisation – the future is happening now
With a revolution in consumer payments happening at the point-of-sale, online and increasingly through the mobile channel, there is a need and an appetite for change across every aspect of the payments industry.
LEI update: hidden costs prevent enthusiastic take-up
Until the world has a definitive Legal Entity Identifier, we are going to have to recognise that piecemeal adoption brings with it significant hidden costs in validating, enriching and mapping for regulatory purposes. If the total number of registered market participants is meant to include all the corporates that trade FX forwards, we are far short.
The battle for benchmarks: divisions in the ranks?
With lots of different regulatory benchmark efforts now underway, the industry could be forgiven for not taking a common stance. With IOSCO issuing final principles, ESMA and the EBA are simultaneously consulting on a European set of principles. Meanwhile the UK is moving ahead with its own reforms.
March deadline for code to tackle fixing of interbank lending rates
European regulators have until March to impose a code of conduct on banks contributing to the creation of the Euribor interbank lending rate benchmark. The deadline is included in recommendations published by the European Securities and Markets Authority and the European Banking Authority following their joint work on benchmark rate-setting processes in the wake of the Barclays Libor scandal and other rate-fixing revelations.
