• The Banca d'Italia and the Deutsche Bundesbank hosted a joint workshop on initiatives for the settlement of DLT-based securities in central bank money. The objective was to share experiences on the settlement of securities in central bank money using novel market solutions based on distributed ledger technology (DLT) using DLT's inherent…

  • EIOPA statement regarding COP26

    It commits to supporting the efforts of the insurance and pensions sector to address climate change

    On the occasion of the 2021 United Nations Climate Change Conference (COP26), EIOPA highlights its commitment to support the insurance and pensions sectors in tackling climate change. Along with other activities in the area of sustainable finance, EIOPA will finalize in 2022 the first European-wide dashboard on the natural catastrophe insurance…

  • EBA Statement on the UN Climate Change Conference

    EBA reaffirms its commitment to supporting green finance

    The European Banking Authority has published its Environmental Statement in the context of the 26th UN Climate Change Conference 2021, highlighting its efforts to update and improve the overall environmental, social and governance (ESG) regulatory framework. This, the EBA says, will facilitate the banking and financial sector's transition to a…

  • NGFS report on scenarios in Action

    A progress report on global supervisory and central bank climate scenario exercises

    Due to the fact that analysis of the economic and financial impacts of climate change is fraught with challenges and uncertainty - and understanding how best to manage future climate-related risks - it requires a forward-looking approach. Against this background, scenario analysis is the pre-eminent tool that NGFS have to size risks under a…

  • OeNB and FMA Commit to the Goals of the UN Climate Summit

    Memorandum of Understanding on the contribution to climate-friendly financial markets

    In a joint declaration of intent on the occasion of the 26th UN Climate Summit in Glasgow, the Oesterreichische Nationalbank and the Austrian Financial Market Authority declare that they will perform their tasks in the most climate-friendly manner possible. This concerns both their core tasks, namely financial supervision and monetary policy,…

  • Global sustainability disclosure standards for the financial markets

    IFRS Foundation announces International Sustainability Standards Board, consolidation with CDSB and VRF, and publication of prototype disclosure requirements

    While COP26 the IFRS Foundation Trustees (Trustees) announce three significant developments to provide the global financial markets with high-quality disclosures on climate and other sustainability issues:

    • The formation of a new International Sustainability Standards Board (ISSB);
    • A commitment by leading investor-…
  • FSC warns against risky behavior in current low interest rate environment

    Financial Stability Committee publishes report

    The Financial Stability Committee (FSC) points to vulnerabilities in financial markets due to the search for yield in a report dated October 08, 2021. It says the tensions are also evident in the Dutch real estate market, where buyers are increasingly using up their full borrowing capacity and, for the first time since 2013, the production of…

  • FMA allows purely biometric methods for customer identification under money laundering law

    Austrian Financial Market Authority Amends Online Identification Ordinance

    By amending the Online Identification Ordinance, the Austrian Financial Market Authority (FMA) will in future make it possible to use purely biometric procedures for the remote identification of new customers of financial service providers in accordance with money laundering legislation. The prerequisite is that the customer agrees to the…

  • De Nederlansche Bank publishes the working paper "Not all data are created equal - Data sharing and privacy" by Michiel Bijlsmaa, Carin van der Cruijsen and Nicole Jonker. 

    In it, they found, among other things, that in addition to health data, people are reluctant to share their financial data about payments, assets and pensions,…

  • Letter from Christine Legarde on the digital euro

    ECB publishes letter from Christine Legarde

    The ECB publishes a letter from Christine Legarde to EU Parliamentarian Gunnar Beck. In the letter, Christine Legarde highlights that online and contactless payments have increased in recent years and accelerated during the pandemic. In addition, she points out that cryptocurrencies are not without risk and are therefore an alternative…