ABBL

Did you know that climate-related risks can significantly alter banks' risk profiles and impact overall financial stability? 🌍 As the Luxembourg banking industry navigates the evolving landscape of ESG regulations, it is increasingly crucial to integrate climate-related and environmental risks into risk management frameworks. Our latest white paper, created in collaboration with Deloitte, offers an in-depth analysis on this topic. This document explores practical implications and best practices for banks, while providing essential regulatory updates and advanced strategies to prepare for future ESG challenges. 🔍 Discover our detailed analysis and prepare your institution for future ESG challenges: : https://lnkd.in/dEu6R9rS This collaboration between the ABBL and Deloitte reflects our shared commitment to supporting Luxembourg financial institutions in their transition to sustainable finance. 📩 Any questions? Contact us: sustainability@abbl.lu #ABBL #DeloitteLU #SustainableFinance #RiskManagement #Banking #ESG

The 𝗮𝗱𝗼𝗽𝘁𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗘𝗨 𝗱𝗶𝗿𝗲𝗰𝘁𝗶𝘃𝗲 𝗼𝗻 𝗡𝗣𝗟𝘀 is rapidly positioning Luxembourg as a leader in the European NPL market! 🌍 Thanks to that new regulatory framework, banks can more easily sell NPLs to fund managers or securitisation structures, unlocking vast commercial potential. 📈 This allows banks to focus on portfolio analysis and other core services, while third-party asset servicers manage NPLs efficiently. 𝗟𝘂𝘅𝗲𝗺𝗯𝗼𝘂𝗿𝗴'𝘀 𝗽𝗿𝗼𝗮𝗰𝘁𝗶𝘃𝗲 𝗮𝗽𝗽𝗿𝗼𝗮𝗰𝗵 allows its financial institutions to remain competitive, leveraging existing asset management expertise to manage NPLs seamlessly. This not only enhances financial stability, but also strengthens its position as a 𝗸𝗲𝘆 𝗽𝗹𝗮𝘆𝗲𝗿 𝗶𝗻 𝘁𝗵𝗲 𝗘𝘂𝗿𝗼𝗽𝗲𝗮𝗻 𝗳𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝘀𝗲𝗰𝘁𝗼𝗿. Stay tuned as we continue to strengthen Luxembourg's role in European finance! 👉 Check out the excellent interview with Jonathan Hug, Senior Legal Adviser at the ABBL: https://lnkd.in/ecvz8H2V Source: Delano, https://lnkd.in/ePs_rHj9   #Finance #Luxembourg #Bank #NPL #ABBL

David Claus, Chair of the ABBL's Depositary Banking Cluster and CEO of European Depositary Bank SA, sheds light on the changes ahead for depositary banks in Luxembourg. 🇱🇺 Highlighting the impact of AIFMD and the enduring strength of Ucits funds, he shares an optimistic vision for the sector: ‘I see us riding a second wave of success, propelled by the transformative force of AIFMD’ 🌊 🧭 Explore the detailed outlook and future prospects of the ‘Depositary Banking & Custodian Services Survey 2023’, carried out by the ABBL in collaboration with KPMG, and enriched by valuable contributions from the Commission de Surveillance du Secteur Financier (CSSF). 💡 This survey highlights the diversity of services, products and customers in the Luxembourg financial landscape. 🔗 ABBL & KPMG Depositary Banking & Custodian Services Survey 2023: https://lnkd.in/eXdUWQBV Join us in exploring the promising future of depositary banking! 📰 Read the full interview with David Claus on Paperjam: https://lnkd.in/eZW7UURX #DepositaryBanking #AIFMD #Ucits #FinancialServices

📣 We are recruiting an Adviser – Sustainable Finance to strengthen our Team. The successful applicant will work with a high degree of autonomy within a small team of Advisers under the supervision of the Head of Innovations, Payments and Sustainability. 🌟 This is a unique opportunity to make a lasting impact at the heart of the Luxembourg banking community! 🇱🇺 𝗬𝗼𝘂𝗿 𝗠𝗶𝘀𝘀𝗶𝗼𝗻: 📌 Analyse sustainable finance regulatory and policy developments at EU and national levels 📌 Prepare position papers and coordinate advocacy initiatives with respect to this subject area 📌 Coordinate ABBL initiatives to support our members in implementing sustainable finance obligations, including SFDR and the EU Taxonomy 📌 Facilitate, coordinate and follow-up with relevant ABBL workstreams 📌 Participate in external working groups at national and European levels 📌 Handle contacts with national authorities to discuss relevant technical issues 📌 Collaborate with internal ABBL experts on key related regulatory and prudential topics 𝗬𝗼𝘂𝗿 𝗣𝗿𝗼𝗳𝗶𝗹𝗲: ✔️ A Bachelor or Master’s degree in Finance, Economics or Business Administration ✔️ At least 5 years professional experience, preferably in the financial sector ✔️ Strong knowledge of Sustainable Finance regulation, ESG financial products and services ✔️ Fluent in English and French (written and spoken), Luxembourgish is an advantage ✔️ Strong organisational and analytical skills ✔️ Proactive, curious, rigorous, able to work autonomously and as part of a team ✔️ Strong sense of responsibility and professional awareness 📩 Interested candidates are asked to send their application to Myriam Sibenaler, Head of Human Resources: apply4job@abbl.lu 👉 Visit our Career section: https://lnkd.in/esMJaMJ5 The ABBL is the largest professional association in the financial sector, representing most financial institutions as well as regulated financial intermediaries, law firms, consultancies, auditors, market infrastructures, e-money and payment institutions. It promotes the sustainable development of regulated, innovative, and responsible banking services in Luxembourg. Myriam Sibenaler | Ananda Kautz

📢 New Collective Bargaining Agreement 2024-2026 🤝 We are proud to announce that the ABBL, along with OGBL, LCGB, and ALEBA, has reached a new collective bargaining agreement for the Luxembourg banking sector. This agreement, pending final approval, addresses the rapid changes in the banking profession and focuses on employability, loyalty, and employee commitment. Key Highlights: 📚 Training and development 10% increase in the training budget for 2024-2026. Minimum of 16 hours of individual training per year for employees. 🏅 Rewarding loyalty Increased loyalty bonus. Higher starting amounts and thresholds. 💶 EUR 500 bonus to be paid in January 2025. ⚖️ Work-Life Balance Encouragement for flexible working arrangements tailored to business and employee needs. This agreement demonstrates our commitment to supporting the banking sector, a cornerstone of the Luxembourg economy. We thank all parties for their dedication and constructive spirit in reaching this milestone. Together, we ensure a resilient and prosperous future for Luxembourg's banking sector. 👉 Read more: https://lnkd.in/eSYfADgv Jerry Grbic | Myriam Sibenaler | Elisabeth Franssen #ABBL #BankingSector #CollectiveBargaining #EmployeeDevelopment #LuxembourgBanking #FutureOfBanking

📣 We are thrilled to announce the operational launch of Prolog S.A., a special purpose vehicle (SPV) created in response to the housing crisis in Luxembourg. The aim is to stimulate the supply of completed homes by supporting both the residential property sector and the construction industry. 🏠 𝗛𝗼𝘄 𝗱𝗼𝗲𝘀 𝗶𝘁 𝘄𝗼𝗿𝗸? 1️⃣ Developers submit their projects to Prolog S.A. Prolog S.A. evaluates and commits to purchasing unsold properties at a reduced price. 2️⃣ This commitment enables developers to obtain the necessary financing and complete construction. 3️⃣ Prolog S.A. ensures that construction projects continue even when pre-sales are insufficient, which ultimately benefits the housing market as a whole. An initiative led by 5 Luxembourg banks: Spuerkeess, Banque Internationale à Luxembourg (BIL), Banque Raiffeisen, Société Nationale de Crédit et d'Investissement (SNCI), and Banque de Luxembourg. 👉 Find out more about this transformative initiative. Read the full article on the ABBL website: https://lnkd.in/gFyC-_pe #RealEstate #Finance #Luxembourg #ABBL #PrologSA #Innovation #Construction

What future for the Luxembourg banking sector? Yves Stein, ABBL Chairman, shares his views in an interview with Wort. With a clear message: Luxembourg banks are taking bold steps to tackle the housing crisis, attract talent and adapt to the Capital Markets Union. ⚡ 🏡 The creation of a €𝟮𝟱𝟬 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 𝗦𝗽𝗲𝗰𝗶𝗮𝗹 𝗣𝘂𝗿𝗽𝗼𝘀𝗲 𝗩𝗲𝗵𝗶𝗰𝗹𝗲 (𝗦𝗣𝗩) by founding banks is supporting backlogged construction projects aimed at building 800 to 1,300 housing units. The aim of this initiative is to stabilise the construction sector and stimulate the economy. 👉 Find out more: https://lnkd.in/gCunXGFu 💼 🌟 Yves Stein also stresses the importance of attracting qualified professionals despite the housing situation. Improving financial education and broadening recruitment strategies are key priorities for the ABBL 🇪🇺 🌍 In the wider European context, banks play an essential role in the Capital Markets Union. They facilitate direct investment, helping Europe to meet important financial needs, such as the €350 billion a year required for the energy transition. 🤖 Technological advances, in particular AI, are transforming the banking sector. While AI is helping to manage regulatory requirements, Yves Stein stresses that human intelligence remains crucial for customer interactions. 👉 🔍 Read more: https://lnkd.in/gdttMyjW 🔗 Source: https://lnkd.in/gBEc-c8x

Hats off to the students who took part in the 8th LTS FinTech Hackathon last weekend, your projects dedicated to financial inclusion were impressive! 🎓 👏 🏆 Congratulations to the winning team, Pr0vy, for their innovative project! Congratulations also to the finalists: UMYC, POST-EALY and See2Cash, for their remarkable efforts. Your hard work and dedication shone through. ✨ Finance Minister Gilles Roth gave an encouraging speech and presented the prizes to the winners. 💡 Financial inclusion remains a crucial topic, and the Fondation ABBL pour l'éducation financière was delighted to participate with POST Luxembourg and The LHoFT - Luxembourg House of Financial Technology to inspire young minds to tackle these challenges with practical solutions. We warmly thank the jury, including Jessica Thyrion 🇵🇸 from the ABBL, as well as Gabriel de La Bourdonnaye, Claude Marx, Claudine Kariger, Nasir Zubairi and Marco van Maris. The students had the honour of being assessed by these experts in the field of financial education. We would also like to thank the mentors, including Hélène Lange from the ABBL, Claude Hansen, Veronica Martinez Sotillo, Mike Holzem, Jean-Louis Reynaert, Cédric Eggen, Michael Pechner, Yves Elomo Onana, Hervé Kias, Alex Panican and Sara Kaiser. Your invaluable advice and comments were essential to the success of this event. Finally, thanks to Andrey Martovoy, ABBL, Senior Adviser - Innovation & Digital along with Alex Panican (LHoFT) and Claude Hansen (POST) contributed to a preparation workshop for the hackathon student teams, with a session on the role of banks in the economy. #FondationABBL #ABBLFoundation #FinancialEducation

Last night, the ABBL hosted its much-anticipated Chairman's Dinner at the prestigious Cercle Cité, and what an unforgettable event it was! The evening began with a warm welcome from Yves Stein, Chairman of the ABBL, who set the tone for an inspiring night filled with insightful speeches and valuable networking opportunities. ✨ ✦ Yves Stein delivered a powerful speech on the many challenges and opportunities facing Europe. His ideas on the importance of investing in economic competitiveness and sustainability resonated deeply with all those present. ✦ Gilles Roth, Minister of Finance, reaffirmed Luxembourg's commitment to the European project and its role as a defender of the single market, stressing the importance of European integration and regulatory harmonisation. ✦ Enrico Letta, President of the Jacques Delors Institute, captivated the audience with his opening speech, offering a glimmer of hope for the future of the European single market and the potential of Luxembourg's financial sector. Participants had the opportunity to engage in fruitful discussions and forge new relationships over dinner.🥂 The atmosphere was energised by ideas and collaborations that will undoubtedly shape the future of the financial sector. 🎂 The evening also marked the 85th anniversary of the ABBL, a testament to its enduring commitment to encouraging growth and innovation within the Luxembourg banking and financial industry. A big thank you to everyone who attended and made this evening so special. We look forward to continued success and impactful networking within the ABBL community! 🙌 #ABBL #ChairmanDinner #Networking #FinancialSector #Luxembourg Yves Stein | Gilles Roth | Enrico Letta | Jerry Grbic | Camille Seillès | Ananda Kautz | Sarah Guillermet-Odru

More than 460 finance professionals attended today's record-breaking webinar on the changes introduced by the CRR3 / CRD6 banking package, organised jointly by the ABBL and the Commission de Surveillance du Secteur Financier (CSSF). We covered three key topics: 📌 The Output Floor 📌 The standardised approach and the IRB approach to credit risk 📌 Credit risk mitigation In particular, it has been made clear that 𝗯𝗮𝗻𝗸𝘀 𝘄𝗶𝗹𝗹 𝗳𝗮𝗰𝗲 𝘀𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝗰𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀 𝘁𝗼 𝗯𝗲 𝗿𝗲𝗮𝗱𝘆 𝗳𝗼𝗿 𝘁𝗵𝗲 𝗶𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 𝗼𝗳 𝗖𝗥𝗥𝟯/𝗖𝗥𝗗𝟲. The new approaches to credit risk, in particular real estate exposures, exposures to unrated institutions and uncommitted cancellable commitments, represent substantial changes. In addition, the implementation of CRR3/CRD6 will require banks to collect additional data and conduct a more thorough assessment of their internal procedures. The quality of our supervisory dialogue with the CSSF continues to bring immense value to the Luxembourg financial community and beyond. 🤝 Thank you to the speakers for the quality of the conference: Gilles Pierre, Alexandra Merlino, Davy Reinard and Mehdi Mabrouki, FRM! 👉 Don't miss the second part of the webinar, this Thursday! 🗓️ 𝗗𝗮𝘆 𝟮: 𝗔𝗱𝘃𝗮𝗻𝗰𝗲𝗱 𝗽𝗲𝗿𝘀𝗽𝗲𝗰𝘁𝗶𝘃𝗲𝘀 𝗼𝗻 𝗖𝗥𝗥𝟯 / 𝗖𝗥𝗗𝟲 📅 Date: Thursday, July 4, 2024 🕙 Time: 10:00 - 12:00 📍 Location: Online 🔗 It is still possible to register! Register now: https://lnkd.in/evDrYDzT 𝑃𝑙𝑒𝑎𝑠𝑒 𝑛𝑜𝑡𝑒 𝑡ℎ𝑎𝑡 𝑡ℎ𝑖𝑠 𝑒𝑣𝑒𝑛𝑡 𝑖𝑠 𝑟𝑒𝑠𝑒𝑟𝑣𝑒𝑑 𝑓𝑜𝑟 𝐴𝐵𝐵𝐿 𝑚𝑒𝑚𝑏𝑒𝑟𝑠. We will be looking at : ✔️ Operational risk ✔️ Market risk ✔️ CVA risk ✔️ ESG risk ✔️ Governance / Fit and Proper Assessment Programme: 10:00 - 10:05: Welcome address by Gilles Pierre 10:05 - 11:00: CSSF presentation on Operational Risk, Market Risk, CVA Risk, ESG Risk and Fit and Proper - with Nicolas Bernon, Xavier Sans and Natalia Katilova 11:00 - 12:00: Q&A session with ABBL and CSSF experts We look forward to welcoming you!