The agreement forms part of the EU bank’s programme for the modernisation of Spanish banking sector’s digital platforms. The EIB Group and CaixaBank have also agreed to provide EUR 600m for new projects of Spanish SMEs and mid-caps.
The Financial Stability Board (FSB) Regional Consultative Group (RCG) for Europe met in Bucharest at a meeting hosted by the National Bank of Romania on 7 May. The meeting started with an address from Mugur Isărescu, Governor of the National Bank of Romania.
This CEPS-ECRI meeting is organised to evaluate the legislation addressing the ongoing digitalisation in banking, with a special focus on PSD2, as well as looking ahead and discussing what kind of initiatives the 2019-2024 Commission should take in this domain.
On 11 April 2019, the European Insurance and Occupational Pensions Authority (EIOPA) hosted its Fourth InsurTech Roundtable on “the use of cloud computing by (re)insurance undertakings”.
The European Supervisory Authorities (ESAs) today published two pieces of Joint Advice in response to requests made by the European Commission in its March 2018 FinTech Action Plan.
The study presented in this event deals with the new competition challenges brought about by the increasing number of FinTech services, which are provided by newcomer start-ups, traditional financial institutions and big tech companies. Namely, network effects derived from the use of online-platforms, the use of customer data, algorithms, standardisation and interoperability can result in anticompetitive behaviour. The analysis takes a service-by-service approach to provide both, a descriptive breakdown and normative tools to anticipate and manage anticompetitive behaviours as they occur. This presentation was prepared by Policy Department A at the request of the ECON Committee.
Panel contribution by Yves Mersch, Member of the Executive Board of the ECB, at The Outlook for the Economy and Finance conference, Cernobbio, 6 April 2019
The European Fintech Alliance (EFA) kindly invites you to our Policy Day on 3 April 2019 in Brussels, to discuss how a European regulatory framework can help the fintech sector grow and contribute to its international competitiveness.
The European Securities and Markets Authority (ESMA) has carried out an analysis of the regulatory and supervisory technologies currently being developed in response to various demand and supply drivers.
The financial technology (fintech) sector encompasses firms that use technology-based systems either to provide financial services and products directly, or to make the financial system more efficient. Fintech is a rapidly growing sector: in the first half of 2018, investment in fintech companies in Europe alone reached US$26 billion. The fintech sector brings rewards including innovation and job creation, but also challenges, such as data and consumer protection issues, and the risk of exacerbating financial volatility or cybercrime. To tackle these multi-disciplinary challenges, policy- and lawmakers in the European Union (EU) have adopted and announced several initiatives, for instance on intra-EU payment services, data protection, crowdfunding and regulatory sandboxes. This briefing outlines current and upcoming fintech-related laws at EU level. It follows on from a March 2017 EPRS briefing that focused, inter alia, on the evolution, scope and economic prospects of fintech.
Keynote speech by Benoît Cœuré, Chair of the CPMI and Member of the Executive Board of the ECB, at the 14th BCBS-FSI high-level meeting for Africa on strengthening financial sector supervision and current regulatory priorities, Cape Town, 31 January 2019.