Featured Product

    MNB and EBRD Held Conference on International Green Finance

    November 15, 2019

    MNB and European Bank for Reconstruction and Development (EBRD) jointly organized the International Green Finance Conference in Budapest. In connection with the program, a seminar was also held for central banks and supervisors of Central, Eastern, and Southeastern Europe under the aegis of Network for Greening the Financial System (NGFS). Representatives of the invited authorities consulted on climate risk oversight, central bank responsibilities, and future opportunities for international cooperation on the issue.

    In the conference, Irene Heemskerk, the Senior Strategic Adviser at DNB and the Network for Greening the Financial System (NGFS), stressed the importance of the new climate responsibility of national banks and financial supervisors. György Matolcsy, the Governor of MNB, said that environmental and financial risks are interrelated and climate change mitigation is an element of financial stability that market participants, regulators, and supervisors must support with their own resources. Csaba Kandrács, the Deputy Governor of MNB, outlined the measures planned by the Hungarian central bank to green the financial system. Leaders of the region's leading banking groups, EU and Chinese green finance ambassadors, and interpreters from the European Investment Bank and the Beijing International Institute of Green Finance gave a presentation on the possibilities of lending for environmental sustainability. Foreign and domestic fund managers also discussed new types of investment opportunities with the environmental, social, and governance (ESG) aspects.

    The event was attended by a more than 250 participants, representatives of 13 countries (including Austria, the Netherlands, Poland, and Germany), central banks, and financial supervisors. The participants included EBRD, ECB, the European Investment Bank, the International Investment Bank, the Global Green Growth Institute , and the Chinese Association for Asian Financial Cooperation. The entire domestic banking system, many foreign credit institutions, credit rating agencies and, from the state side, the Office of the President of the Republic, the Ministry of Innovation and Technology, and the Budget Council were also present.

     

    Keywords: Europe, Hungary, Banks, Green Finance, NGFS, EBRD, Climate Change Risk, ESG, MNB

    Related Articles
    News

    EBA Examines Supervisory Practices, Issues Deposits Reporting Template

    The European Banking Authority (EBA) published its annual report on convergence of supervisory practices for 2021. Additionally, following a request from the European Commission (EC),

    May 11, 2022 WebPage Regulatory News
    News

    EC Mandates ESAs to Propose Amendments to SFDR Technical Standards

    The European Commission (EC) has issued two letters mandating the European Supervisory Authorities (ESAs) to jointly propose amendments to the regulatory technical standards under Sustainable Finance Disclosure Regulation or SFDR.

    May 11, 2022 WebPage Regulatory News
    News

    EC Consults on PSD2 and Open Finance; EU Reaches Agreement on DORA

    The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.

    May 11, 2022 WebPage Regulatory News
    News

    US Agency Publications Address Basel, Reporting, and CECL Developments

    The Farm Credit Administration published, in the Federal Register, the final rule on implementation of the Current Expected Credit Losses (CECL) methodology for allowances

    May 09, 2022 WebPage Regulatory News
    News

    SEC Extends Comment Period on Climate Risk Disclosures

    The U.S. Securities and Exchange Commission (SEC) looks set to intensify focus on crypto-assets and cyber risk and extended the comment period on the proposed rules to enhance and standardize climate-related disclosures for investors.

    May 09, 2022 WebPage Regulatory News
    News

    APRA Reduces Committed Liquidity Facility, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility and issued an update on the operational preparedness for zero and negative market interest rates.

    May 09, 2022 WebPage Regulatory News
    News

    EIOPA Responds to Stakeholder Views on Blockchain in Insurance

    The European Insurance and Occupational Pensions Authority (EIOPA) published a feedback statement on the responses received to the consultation on blockchain and smart contracts in insurance.

    May 06, 2022 WebPage Regulatory News
    News

    HKMA Announces Decisions on CCyB and Loan Guarantee Scheme

    The Hong Kong Monetary Authority (HKMA) announced that the applicable jurisdictional countercyclical capital buffer (CCyB) ratio for Hong Kong remains unchanged at 1.0%

    May 06, 2022 WebPage Regulatory News
    News

    CMF Consults on Basel Rules, Presents Roadmap to Address Climate Risks

    The Commission for the Financial Market (CMF) in Chile published capital adequacy ratios (as of February 2022, January 2022, and December 2021) for 17 banks and for the banking system.

    May 06, 2022 WebPage Regulatory News
    News

    PRA Issues Statement on NPEs and Policy on Trading Activity Wind-Down

    The Prudential Regulation Authority (PRA) issued a statement on the European Banking Authority (EBA) guidelines on management of non-performing exposures (NPEs) and forborne exposures.

    May 06, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8168