MNI China Daily Summary: Friday, April 26

MNI BRIEF: China, US Should Strengthen Dialogue, Cooperation

MNI BRIEF: SNB Framework Reform 'Playing With Fire' - Steiner

MNI: PBOC Conducts CNY2 Bln Via OMO Fri; Liquidity Unchanged

CHINA PBOC INJECTS CNY2 BILLION VIA 7-DAY REVERSE REPOS FRI

MNI: PBOC Sets Yuan Parity Lower At 7.1056 Fri; -4.56% Y/Y

MNI: BAKER HUGHES US RIG COUNT 613; OIL RIGS 506; GAS RIGS 105

MNI: UNIV OF MICHIGAN CONSUMER SENTIMENT FINAL APR INDEX 77.2

EZ/UK T-Bill Calendar: Germany, France Auction on Monday

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

MNI BRIEF: Eurozone Banking Supervisor Takes Action On Climate

(MNI) LONDON

European banks that fail to meet ECB banking supervisors’ climate-related and environmental risk standards are one step closer to facing daily fines, Executive Board member Frank Elderson said in a speech Tuesday.

“We have issued binding supervisory decisions, including the potential imposition of periodic penalty payments if banks fail on their requirements,” Elderson said, echoing remarks he made to MNI a September. “In other words, we have told those banks to remedy the shortcoming by a certain date and, if they don’t comply, they will have to pay a penalty for every day the shortcoming remains unresolved.” (see MNI INTERVIEW: ECB To Fine Banks Missing Climate Goals - Elderson).

Elderson also called for the financial sector to be covered by the European Commission’s Corporate Sustainability Due Diligence Directive. “Not excluding the financial sector from the remit of the CSDDD can further help to create greater certainty around financial institutions’ obligations in this area and around climate- and environment-related litigation risks for the financial sector,” he said.
MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Central Bank NewsPolicy NewsStoryCEEMEAEurozoneBriefEuropean Central BankRegion
MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Central Bank NewsPolicy NewsStoryCEEMEAEurozoneBriefEuropean Central BankRegion

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.