Financial News & Views: March 2022 Edition
Financial News & Views March 2022 Edition
WHAT’S INSIDE:
2022 marks the beginning of a new era
The power of community-based organizations
Cash no longer king?
Sustainable finance: the beat goes on.
CCD: modernization full steam ahead.
ESAP: data is key
Cybersecurity, a top concern for savings and retail banks around the globe
A heartfelt thank you for 47 years of service
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European Financial Services: Serving all European citizens
ESBG member banks a make a substantial contribution to EU growth, stability and prosperity by weaving into the local and regional fabric, forming a major source of finance for people, households, SMEs and community institutions, says this new handbook.
The 118-page document provides a quick introduction to financial regulation and the role that savings and retail banks play in the EU economy and overall society. It explains ESBG positions on a host of policy areas.
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Scale2Save publishes European Microfinance Week panel summary
The following piece provides a summary of a panel session at the first-ever virtual European Microfinance Week that explored the role played by three organisations in savings programmes.
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EFRAG Draft Endorsement Advice on IFRS 17 Insurance Contracts
BRUSSELS 1 February 2021 – ESBG issued today a letter commenting on EFRAG's Draft Endorsement Advice on IFRS 17 Insurance Contracts. ESBG represents the locally focused European banking sector,…
January 12, 2021
ESBG responds to ECB public consultation on digital euro
BRUSSELS, 13 January 2021 – ESBG submitted its response to the European Central Bank (ECB) public consultation on a digital euro
December 21, 2020
ESBG stresses economic impact of data flows outside European Union
BRUSSELS, 22 December 2020 – ESBG, together with 17 other European associations recently signed a joint statement on the European Data Protection Board supplementary measures.
December 17, 2020
ESBG statement on dividends
ESBG appreciates the broad and open public debate, which took place over the past months, on banks’ dividends distribution, and we were pleased to see that the ECB recommended a less restricting…
December 14, 2020
ESBG statement: EU Commission NPL action plan
ESBG appreciates strongly the active approach contained within the Action Plan on Non-Performing Loans (NPLs) published today by the European Commission and the tools it contains to manage NPLs. We…
December 13, 2020
ESBG response: EBA public consultation on revision of guidelines on major incident reporting under PSD2
The European Savings and Retail Banking Group (ESBG) welcomes the opportunity to respond to this public consultation from the European Banking Authority on the revision of the Guidelines on major…
December 13, 2020
ESBG statement: EU Commission NPL action plan
BRUSSELS, 14 December 2020 – ESBG submitted today its response to the European Banking Authority consultation paper on the draft revised guidelines on major incident reporting under PSD2.
December 10, 2020
Irrevocable Payment Commitments
ESBG pushes for increase of irrevocable payment commitments share in EU Single Resolution Fund ex-ante contributions
News & Views magazine: Q2 2020
The WSBI-ESBG News & Views magazine looks at how people benefit from efforts by savings and retail banks during the Covid-19 crisis. The 56-page edition published this week provides concrete, real-world examples from association members in more than a dozen countries in all regions of the world.
What’s inside:
Taking action means tough decisions, adjustment (Page 3)
Banks adapt, help during Covid-19 (Page 10)
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News & Views magazine: Q1 2020
Measures taken by WSBI-ESBG members help mitigate effects of Covid-19 on local economies, the Q1 2020 News & Views highlights. They help serve people in communities, supporting households, SMEs and protecting business continuity and ramping up digital channels.
What’s inside:
WSBI statement on Covid-19
ESBG statement on Covid-19
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COVID-19: European banking, insurance social partners statement
Joint statement of the European social partners in the banking and insurance sectors on the Covid-19 emergency crisis
The European social partners in the financial services sector – UNI Europa Finance, the Banking Committee for European Social Affairs of the European Banking Federation (EBF BCESA), the European Savings and Retail Banking Group (ESBG), the European Association of Cooperative Banks (EACB), Insurance Europe, the Association of Mutual Insurers and Insurance Cooperatives in Europe (AMICE), and the European Federation of Insurance Intermediaries (BIPAR) – would like to express their sincere sympathy to everyone directly suffering because of the Covid-19 pandemic and to profoundly thank all those risking their own health to save lives. As social partners, we are fully committed to ensuring that the European banking and insurance sectors continue to assist their customers and support European economic activities to the best of our abilities during this unprecedented pandemic crisis.
This requires close and intense coordination with public authorities and for the European institutions, regulatory and supervisory authorities and the financial services sector to work together to try to neutralise as much as possible and to the best of our abilities the effects of Covid-19 on the economy. Important measures have already been taken to help the banking sector in supporting the economy. As this is a rapidly evolving situation, the social partners call on the public authorities to stand ready to take further action and use the necessary flexibility at their disposal to overcome the present difficulties.
Employees and employers in the European banking and insurance sectors, as well as insurance and financial intermediaries, are doing their utmost to offer essential services to the public within the limits imposed by public authorities, and will continue to do so throughout the crisis as best they can. The European social partners in the financial services sector thank all employees in the banking and insurance sectors who are working to alleviate the effects of this crisis.
Across the sector, all the European social partners agree that the health and safety of our employees, our customers and the general public are absolutely paramount, and that every effort and contribution should be made to help contain the spread and impact of Covid-19.
To this end:
- All the actors in the European financial services sector follow strictly the recommendations and rules of public authorities and health agencies in relation to Covid-19.
- Companies in the sector have organised for the vast majority of their employees to work remotely whenever and wherever possible to reduce their exposure to the virus and limit its spread.
- The European social partners in the financial services sector ask for their customers’ forbearance when they are requested, in line with the public measures decided at national level, to limit physical visits to branches, agencies and offices as well as face-to-face meetings. All the actors in the sector have reorganised their operations to remain at the service of customers through telephone, email and other communication technologies and tools, or, when necessary and when allowed and always in line with the rules and guidance of public authorities and health agencies, through face-to-face contact.
- During this Covid-19 crisis, all employees at their workplace, especially those who continue in their public-facing roles, need to be given appropriate protection in terms of both equipment and infrastructure on the basis of the relevant rules and guidance of the appropriate public authorities and health agencies, to minimise the risk of contagion as far as possible. This is in the best interests of customers and the general public.
Social Dialogue at all possible levels can provide a good context for finding suitable solutions for this exceptional situation and experience shows that it contributes to reach the high-level buy-in needed for successful implementation.
Europe must show responsibility, solidarity and efficiency in facing this emergency by protecting all its affected citizens, workers and businesses. The European social partners in the financial services sector remain committed to protecting companies and the employees in the banking and insurance sectors and supporting European citizens and economic activities to the best of their abilities during this extraordinary crisis period.
Signatories:
Michael Budolfsen President, UNI Europa Finance
Jens Thau Chairman, EBF BCESA
Chris De Noose Managing Director, ESBG
Hervé Guider Managing Director, EACB
Andreas Brandstetter President, Insurance Europe
Grzegorz Buczkowski President, AMICE|Juan Ramón Plá Chairman, BIPAR

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Joint statement of the European Social Partners in the Banking and Insurance Sectors on the COVID-19 Emergency Crisis
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December 10, 2020
Irrevocable Payment Commitments
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IFRS Foundation: Consultation paper on sustainability reporting
WSBI-ESBG welcomes the opportunity to comment on the IFRS Foundation’s Consultation Paper on Sustainability Reporting.
December 6, 2020
IASB Discussion Paper 2020 2021 Business Combinations—disclosures, goodwill and impairment
WSBI-ESBG support IASB preliminary views to develop proposals to remove restriction that prohibits firms from including some cash flows in estimating value in use.
October 20, 2020
Financial News & Views: March 2022 Edition
The latest WSBI-ESBG News & Views magazine looks at cybersecurity during the Covid-19 crisis. The 56-page edition published this week provides expert comment and the latest ESBG position on…
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European Financial Services: Serving all European citizens
ESBG member banks a make a substantial contribution to EU growth, stability and prosperity by weaving into the local and regional fabric, forming a major source of finance for people.
October 10, 2020
Impact of Banking Regulation: Final Report
The four social partners – EBF-BCESA, ESBG, EACB and UNI Europa Finance – have carried out a project funded by the European Commission in order to assess the impact that banking regulation has had on…
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WSBI commits to the UFA 2020 Goals
Socially responsible banking is part of WSBI and ESBG members' DNA. A strong commitment to sustainable development, members place corporate social responsibility (CSR) as an integral part of their…
October 10, 2020
Corporate Social Responsibility
Socially responsible banking is part of WSBI and ESBG members' DNA. A strong commitment to sustainable development, members place corporate social responsibility (CSR) as an integral part of their…
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Remittances
During the next five years, US$1 trillion in worker remittances will flow to rural areas, dwarfing official development aid by a 4-to-1 ratio – and rural areas only represent half of worldwide…
October 10, 2020
Cash
ESBG acknowledges that access to cash is a relevant concern and may become a crucial issue in light of pandemic-related developments. Although access to cash needs to be ensured for the population,…
News & Views magazine: Q4 2019
Savings and retail banks are ideally placed to provide the financing to help the world build a sustainable future, the Q4 2019 News & Views highlights.
What’s inside:
ESBG handbook focuses on EU citizens (page 11)
World Savings Day 2019 (pages 7, 38, 46)
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News & Views magazine: Q3 2019
This edition of WSBI-ESBG News & Views magazine looks at supporting local growth and development. The 44-page edition published in October 2019 provides expert comment and the latest ESBG position on helping communities.
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Banking. Serving. Thriving.
This ESBG brochure explores impact made by Europe's savings and retail banks in local communities.
BRUSSELS, 28 March 2019 – ESBG updated today its brochure that provides an overview of the social value of savings and retail banks. Called Banking. Serving. Thriving, the document showcases the impact made by European savings and retail banks to boost the real economy while giving back to the communities they serve.
It features updated facts and figures that aim to paint a clearer picture of what ESBG members value: responsibly managed banks that are retail-focused and regionally present. Primarily intended for advocacy purposes, it includes data on employment levels, branch numbers, and balance sheet items, buttressed by case studies from savings and retail banks throughout Europe, showcasing a commitment to sustainable development, giving back to the communities we serve, and staying at the forefront of need through our foundation work. The brochure also helps highlight how well ESBG member banks adhere to the Charter for Responsible Business.
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Single European Access Point for Financial and Non Financial Information
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