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December 2017

Climate: banks commit to go faster and stronger

With the Paris Agreement, signed at the conclusion of the COP21 climate conference in December 2015, the world adopted limiting global warming. Finance has a key role to play in the necessary energy transition, to promote the transformation of the economy. Faster action is needed and we are ready.

French banks have taken a significant lead in funding energy transition and are deeply engaged as companies. Their day-to-day initiatives are already driving the acceleration of the ecological energy transition both at home and on a global scale.

They are innovative. Issuance of green bonds (25% of global issues are arranged by French banks, i.e. far in excess of our market share!), financing of large-scale "climate" projects (wind power, solar power, etc.), North/South partnerships, innovative solutions offered for environmental projects across-the-board (individuals, corporates, local authorities, green mobility) and environmentally friendly savings products... Thanks to their universal banking model, French banks operate across the entire spectrum of solutions, from major infrastructure financing, where they have unquestionable know-how, to loans for thermal renovations of individual homes.

They are exemplary. Banks are stakeholders in society and are co-operating with public officials to develop high-quality environmental reporting. They are also adopting increasingly refined sector policies aimed at promoting the emergence of a low-carbon economy. The French model serves as an example for others to follow around the world.

They are eco-responsible. As sustainable development is first and foremost a civil society project, French banks are implementing, with the help of their 370,000 employees, ambitious policies (eco-friendly management of buildings, networks and resources, with priority given to carbon-free payment instruments) in a bid to reduce their environmental impact and promote development that is respectful of the planet and people alike.

They want to go faster and move further: this is why they are promoting the Green Supporting Factor in support of banking regulation favourable to green financing.

Therefore, two years after the Paris Agreement, tremendous strides have been made: the climate emergency is now recognised worldwide and the private sector is taking its rightful place. The French banking industry wants to kick into high gear.

We only have one planet and that's what we are financing. The French banking industry will not turn its back while the house is on fire.

Marie-Anne Barbat-Layani
Chief Executive Officer of the French Banking Federation

Tweeter : @FBFFranceTweeter : @FBFFrance

Our Positions

Financing the economy: the FBF meets with the Prime Minister
The French Banking Federation met with French Prime Minister Edouard Philippe on 10 November 2017 in the presence of the Minister for Economic Affairs and Finance, Bruno Le Maire, to take stock of the banking sector's contribution to financing the economy and to consider how banks could help the public authorities with achieving three of their priorities: long-term business financing, digitisation of the economy and the financing of Europe. The meeting was also an opportunity for the Prime Minister to underscore the Government's ambition of supporting Paris as a financial centre and to reiterate his commitment to the adoption of balanced international prudential standards (Basel III).

Link to the Matignon Palace press release

PSD2 implementation: security first
The European Commission published regulatory technical standards (RTS) for the Payment Services Directive (PSD2) putting security first. By requiring payment aggregators and initiators to use standardised, open and secure application programming interfaces (APIs) when accessing accounts in the EU, the Commission has put security first. The FBF has always supported the APIs, the only secure solutions able to ensure implementation under proper conditions in today's environment where the number of cyber attacks is increasing. Now that we have a clear decision for APIs in Europe, we need to get APIs up and running as fast as possible to protect customers' money and data.

Link to our press release

Corporate Income Tax surcharge: bankers stand in unison
In a joint paper published in Les Echos on 6 November 2017, the chairmen of three major French mutual banks expressed their concerns about the Government's decision to impose high taxes on mutual groups, to compensate for the cancellation of this tax on dividends, which was ruled illegal. The FBF as a whole backs the demands of mutual banks in the name of fairness and regrets that none of the solutions proposed were implemented by the Government. This tax is expected to deliver €5bn to the State's coffers and could cost the three cooperative and mutual groups €1bn.

In their own words

Bruno Le Maire, Minister of Economic Affairs and Finance - During the opening of the 5th economic and financial dialogue between France and China in Beijing.
12/01/2017
“France wants to become a major global financial centre again. […] The age in which France declared finance to be the enemy has come to an end. […] France wants to make finance an element of economic strength and cooperation with its major partners.”

FBF in the media

France Inter: “The EBA relocates to Paris: It sends a very strong signal to the international community”

11/22/2017

When the announcement was made that the European Banking Authority would be relocating to Paris, Marie-Anne Barbat-Layani, Chief Executive Officer of the FBF, responded in “Le Journal de 7h” on France Inter: “This is a very important day for the Paris financial centre! The decision to relocate the European Banking Authority to Paris is a logical one, given the leading role played by France in Europe's banking sector, and is a welcome acknowledgement of the collective efforts made by the Paris financial centre and the public authorities.” Today, when all large international banks are wondering about basing their activities in Europe, this is a very strong signal in terms of attractiveness.


BFM BUSINESS: “I believe in the French banking model”

11/2/2017

Invited to appear on Décodeurs de l’éco, a show hosted by Fabrice Lundy, to discuss the topic of whether online banking is causing the demise of brick and mortar branches. Marie-Anne Barbat-Layani, underscored that “customers are turning to digital, they live in a digital world; so do bankers.” And, as evidence of this, “banking apps are the third most frequently used applications in France, behind weather and social networks.” She also added, “I believe in the French banking model. I think that it has adapted very frequently. It's a model which, for instance, gave rise to bancassurance. It’s a model of proximity. It’s a universal banking model that offers every service and performs extremely well.”


BFMTV: “All banks have set up a specific offering for financially vulnerable customers”

10/26/2017

Subsequent to the release of a study of 60 million consumers and the National Union of Family Associations (UNAF) on “the banking fees charged to people in need”, Pierre Bocquet, Head of Retail and Internet Banking at FBF, made numerous appearances in the media, in particular on BFMTV, to point out that: “all banks have set up a special offering for financially vulnerable customers with respect to account operation. This offer is regularly made available to any customer who has had a series of incidents in a three-month period.”


Agenda

December
14

Presentation of the 2017 activity report "2017 Review - Outlook 2018: Strengthening trust between economic actors" by Pierre Pelouzet, Business Ombudsman (médiateur des entreprises), in Paris.

December
14

EIFR/LABEX ReFi : seminar "Financial Regulatory and Compliance Meetings - 11th edition", in Paris.

December
14

Center of Financial Professions (CPF): "Our finance in Europe: necessary? Responsible?" - 12th Financial Professions Convention, with the participation of Marie-Anne Barbat-Layani, CEO of the FBF, in Paris.

January
17

1st Entrepreneurs of Savings Forum organized by the French Financial Management Association (AFG), in Paris.

January
21

1st edition of the International Diversity Forum, OECD headquarters in Paris.

January
22

Great Rendez-vous of productive investment, National Assembly in Paris.

January
23 / 26

48 th World Economic Forum Annual Meeting, in Davos.

Tweet of the month

Figure of the month

[Press Release] Paris wins! The @FBFFrance welcomes the decision to relocate the European Banking Authority @EBA_News #EBA to Paris
@FBFFrance

1 billion contactless payments have been made in France