Stay ahead: open finance, climate stress test and more
BNP Paribas - Securities Services
Global custodian, asset servicing provider. Corporate news and insights on change and events in securities services.
Dear reader,
In this edition, we bring you industry insights from Europe and Asia-Pacific, focusing on open finance, green finance and pension funds.
We are also proud to share that we are going to Sibos 2024! Discover our speakers, highlights and much more on our dedicated webpage!
Happy Reading,
The Securities Services team
FiDA regulation
On 28 June 2023, the European Commission published a proposal for a regulation on a framework for financial data access (FiDA) with a view to promoting open finance and data-driven finance.
In addition to FiDA, the European Commission also published on 28 June 2023 the payment service package consisting of the Payment Services Directive 3 (PSD3), which modernises PSD2, and the payment service regulation. The payment service package bears testament to the European Commission’s priority to improve the existing regulatory regime and consumer protection in the field of data sharing.
The legislative process is at an early stage and discussions have not yet started between the European Commission and the European Parliament. Once adopted, the Financial Data Access regulation should apply 24 months after its entry into force...
🖋️ Arnaud Joseph Strategic Analyst, Public Affairs
Climate stress test
For asset managers and asset owners, the goal has always been to deliver returns withappropriate level of risk. In today’s new paradigm of ongoing climate change, institutionalinvestors must increasingly make investment decisions within the context of aligning toemission reduction targets at a portfolio level...
🖋️ Karen T. Product Development Manager, Investment Analytics and Data Services, Securities Services
Meet us at Sibos 2024
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From 21 – 24 October 2024, we are delighted to take part in Sibos 2024 and meet with our clients and business partners.
The Sibos week promises to be full of fascinating debates, big picture outlooks, expansive networking and BNP Paribas’ Securities Services is elated to do its bit.
Our expert speakers will lend their voice to a dozen panels, covering a wide range of topics: T+1, digitalisation, climate change, the future of securities… find out more here.
Also, mindful of the success of Women in the financial industry, we fully support the Sibos Talent Accelerator Route programme, providing rising female leaders with growth opportunities and expanding their professional connections.
Follow our account and the hashtag #Closer2YouCloser2TheWorld to stay up to date on the major talking points!
If you’re attending Sibos, come and visit us at stand D20.
The future of German Pension funds
As countries around the world grapple with how to fund their aging societies and evolve their pensions systems, Germany’s answer is the Pension Level Stabilisation and General Capitalisation Act.
Germany’s first pillar statutory pension insurance remains the most important component of its old-age security system. The draft legislation, introduced in March this year, aims to maintain the statutory pension benefit level (the Rentenniveau) at 48% of the nation’s average wage. To keep that level stable, the draft bill proposes the creation of a “generational capital” fund that would pursue a globally diversified investment strategy.
Attention is also turning to the second (occupational pensions financed by employers and/or employees) and third (supplementary individual provision) pillars, with pension funds under pressure to strengthen returns in order to maintain individuals’ standards of living in retirement.
Another key lever to lift returns – employed widely by pension funds in Northern Europe, Australia, Canada and the United States – is to boost allocations to private capital markets.
🖋️ Katharina Anna Nickel , Head of Sustainable Business IPS & Institutional Clients, Germany and Jan Steenbergen Client Line Manager Asset Owners & Sustainable Finance Expert, Germany
Asia Pacific: safeguarding the credibility of green finance
APAC is in a strong position to help protect the credibility of green investment claims amidst the region's evolving regulatory regime and a greater availability of data.
🖋️ Jules Bottlaender, Head of Sustainable Finance, Asia Pacific