European Savings and Retail Banking Group (ESBG) members are standing in solidarity with people in need in Ukraine by waiving fees on bank transfers to the country already or taking steps towards doing it in the near future.
“Social responsibility is in our members’ DNA. This is why I’ve asked our members to bring financial resources at no cost to people in Ukraine during these difficult times”, said ESBG president Dominique Goursolle-Nouhaud.
The ESBG president has communicated about this topic with all 23 members, who represent over 850 banks in 18 European countries serving more than 160 million customers.
“It is a clear signal of solidarity that many ESBG members have been already waiving fees on bank transfers to Ukraine and others are taking steps towards doing it. Our thoughts are first and foremost with the Ukrainian people and these members are willing to leave profits aside to help”, said Goursolle-Nouhaud.
This meets the intention of a recent call by the European Central Bank (ECB). On 18 March, Andrea Enria, Chair of the Supervisory Board of the ECB, addressed a letter to ESBG and other main EU banking associations asking to suspend or reduce, on a voluntary basis, transaction costs for bank transfers to Ukraine and Moldova. The latter is considered the country for which the intake of refugees is most challenging. The letter followed a recommendation by Members of the European Parliament.
Press contact:
Leticia Lozano, Senior Communications Adviser
Tel. +32 2211 1196
About ESBG
The European Savings Banking Group has 23 members in 18 countries. As some of its members are national organisations, ESBG represents the interests of over 850 banks working responsibly and closely with their communities and SMEs. Together, ESBG members manage assets worth €5,700 billion, serve 162 million Europeans and employ nearly 660,000 people. ESBG is headquartered in Brussels.
related
European Banking Authority (EBA) on ESG risk management
The European Savings and Retail Banking Group (ESBG) submitted its response to the consultation launched by the European Banking Authority (EBA). ESBG insists on the need for consitency with CSRD and CSDDD, the addressees of this guideline should also
Enhancing Transparency in Bank Disclosures: ESBG delivers comprehensive response to the EBA’s Pillar 3 data hub consultation
On 14 December 2023, the European Banking Authority (EBA) published a discussion paper on the Pillar 3 data hub processes and its possible practical implications.
IASB Exposure Draft (ED) on Financial Instruments with Characteristics of Equity
On 29 November 2023, the International Accounting Standards Board (IASB) proposed amendments in an Exposure Draft to tackle challenges in financial reporting for instruments with both
ESBG’s response to the EFRAG Comment Letter on Financial Instruments with Characteristics of Equity
On 29 November 2023, the International Accounting Standards Board (IASB) proposed amendments in an Exposure Draft to tackle
ESBG advocates for increased clarity and streamlining of supervisory reporting requirements
On 14 March, ESBG submitted its response to the European Banking Authority (EBA) consultation on ITS amending Commission Implementation Regulation (EU) 2021/451 regarding supervisory reporting
WSBI-ESBG advocates for robust implementation of the BCBS Pillar 3 framework for climate-related financial risks
On 14 March, WSBI-ESBG submitted its response to the Basel Committee on Banking Supervision (BCBS) consultation on its Pillar 3 disclosure framework for climate-related financial risks
ESBG stresses the need for consistency and clarity in its Response to the SFDR Review Consultation
ESBG submitted its response to the European Commission’s consultation on the SFDR review, aiming to enhance transparency in sustainability-related disclosures within the financial services sector
ESBG response to the EBA’s consultation on Guidelines on preventing the abuse of funds and certain crypto-assets transfers for ML/TF
The guidelines on the “travel rule” delineate the actions that Payment Service Providers (PSPs), Intermediary PSPs
ESBG responds to the SRB consultation on the future MREL policy
The European Savings and Retail Banking Group (ESBG) submitted its response to the consultation launched by the Single Resolution Board (SRB) in December 2023 on the future of the Minimum Requirement for own funds
ESBG’s response to the Commission’s consultation on the GDPR
The primary EU legislation ensuring the fundamental right to data protection is the General Data Protection Regulation