Cybersecurity, TTIP among topics discussed in Washington

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A delegation of the European Banking Federation visited the United States of America from 1 to 5 March to attend the Annual Conference of the Institute of International Bankers (IIB) in Washington and to hold meetings with numerous american stakeholders and partners.

The delegation of EBF included representatives of the EBF Secretariat, its members and member banks.

The IIB Annual Conference focused on the need to deal with cybersecurity issues as well as the necessity to provide higher level of protection to banking systems, i.e. by providing multifactor authentication. Moreover, several discussions related to the Volcker rule and its impact on conducting business in the US by foreign banks. The conference was a good opportunity to exchange views on the cooperation between European and US banking sectors. Representatives of US financial authorities, including Mr Timothy G. Massad - Chairman of the U.S. Commodity Futures Trading Commission, CFTC – mentioned the importance of cooperation between US and foreign authorities, including the issue of resolution of banks undertaking cross-border activities. The issue of ongoing TTIP negotiations, especially the case of (non) implementation of financial services into the scope of TTIP, was also raised at several occasions.

During next three days, the EBF delegation attended multiple meetings with American stakeholders, including Congressmen and Senators, representatives of the Federal administration (i.e. US Treasury, US Trade Representative, CFTC), the Federal Reserve, the IMF and trade associations (US Chamber of Commerce and SIFMA). A meeting with the European Union Representation Office to the US also took place. Major topics raised during the discussions focused on TTIP negotiations, DFA/EMIR/MiFIR, OTC derivatives implementation, the Volcker rule and Banking Structural Reform,  FTT, AML and tackling cybercrime. The EBF was also delighted to have the opportunity to obtain the American perspective about Europe and the recent developments at EU level.

 

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EBF staff delegation: Sébastien de Brouwer (s.debrouwer@ebf-fbe.eu), Błażej Błasikiewicz (b.blasikiewicz@ebf-fbe.eu) and Piotr Gałązka (p.galazka@ebf-fbe.eu)