Events listed in [ABBL] Association des Banques et Banquiers
Targeted consultation on the implementation of the Sustainable Finance Disclosures ...
ID 26438
The ABBL responded to the EC’s Targeted Consultation on SFDR Implementation. As a reminder, the EC launched a targeted consultation and a public consultation on 14 September 2023 to assess the implementation of the SFDR. The focus of the consultation was directed towards legal certainty, the usability of the regulation, and proposals for enhancing the existing framework. The Commission sought insights into the practical ...
ABBL answer to ESMA – Call for evidence on shortening of the settlement cycle
ID 26435
In response to ESMA’s call for evidence on the potential shortening of the securities settlement cycle in European markets, the ABBL, together with its members, has submitted a comprehensive response. As a reminder, the initiative by ESMA is driven by the objective of evaluating the feasibility of reducing the settlement cycle from the current T+2 to T+1, and potentially even T+0. The consultation aims ...
ABBL’s position on the Proposal for a Faster and Safer Relief of Excess Withholding ...
ID 25133
ABBL’s position on the Proposal for a Faster and Safer Relief of Excess Withholding Taxes, released by the European Commission on 19 June 2023, is one of cautious support with significant concerns. The ABBL acknowledges the proposal’s objective of simplifying, digitizing, and harmonizing withholding tax processes in the EU, a long-standing priority for the organization. While the ABBL welcomes the introduction of more efficient ...
ChatGPT and banks in Luxembourg: an opportunity
ID 23368
A survey conducted among members of the ABBL reveals that 76% of respondents see tools like ChatGPT as an opportunity for their organizations. Indeed, a significant proportion of participants expressed intentions to incorporate ChatGPT or other AI-driven chatbots into their operations for particular purposes (57%). Notably, this statistic becomes even more remarkable when examining **credit institutions, as a staggering 88% of them have plans ...
The ABBL supports its Members‘ efforts to build trust in the Luxembourg ...
ID 23120
The ABBL published its Annual Report 2022, providing a comprehensive overview of the activities and achievements of the ABBL in promoting the sustainable development of regulated, innovative, and responsible banking services, and demonstrating the ABBL’s commitment to promoting a responsible banking sector and creating shared value for its stakeholders. The report is divided into five sections, including a portrait of the Luxembourg banking sector, ...
Generative AI and the financial sector: a hot topic for the first ABBL FinTech ...
ID 22884
The ABBL FinTech & Innovation Forum (FIF) serves as a platform for ABBL members and FinTechs to discuss innovation and digital transformation in the banking and finance industry in Luxembourg. The forum comprises 140 representatives from 85 entities. The first meeting centered around conversational AI, including pre-trained generative transformers like ChatGPT, and its potential impact on business organization. Use cases for generative AI were ...
Instant payments: our advocacy efforts with the EU institutions
ID 22738
Last year, the EC has proposed a regulation to make instant payments available throughout the EU. This proposal requires all PSPs to establish systems that allow their customers to send and receive instant payments. While this enhances payment efficiency, the proposal may impose excessive burdens on smaller organizations and raise money laundering risks. The ABBL has therefore urged changes to the implementation timetable, particularly ...
Publication of the Blockchain III Law: what will change
ID 22377
On 17 March 2023, the Law of 15 March 2023 (Blockchain III Law) was published on Legilux, which entered into force on 23 March 2023. The law implements EU Regulation 2022/858 on a pilot regime for market infrastructures based on distributed ledger technology (DLT). The Blockchain III Law follows two previous laws, the Law of 1 March 2019 and the Law of 22 January ...
Impacts of EMIR review proposal
ID 21970
In the context of the EMIR review proposal, ABBL welcomes the European Commission’s efforts to increase the competitiveness of the European Central Clearing Framework (CCP). The 3 main impacts of these efforts on ABBL members, hence on professionals in Luxembourg’s banking sector in general, have been identified as follows: Impact 1: Active Accounts – Financial counterparties will be required to have an active account ...