2016

 
​Seven partners and four sponsors have collaborated to create Copenhagen FinTech – a new association that will develop an eco-system for FinTech entrepreneurs in Copenhagen.
 
​A committee of experts headed by Professor Nina Dietz Legind has now delivered its report on mobility in the Danish mortgage market.
 
​It’s now faster to switch banks, according to a new analysis from the Danish Bankers Association and e-nettet, a Danish company that is responsible for banks’ joint infrastructure for transferring customer accounts.
 
 
​​​Today, the Youth Democracy Festival (UFM) starts in Søndermarken in Frederiksberg. The Danish Bankers Association invites all young people for a talk about cyber security and staying safe online.
 
​Today, shops are required by law to accept cash payments. We believe that people should be open towards certain business being able to refuse cash payments – initially as a pilot scheme.
 
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Even though the market for construction projects is rapidly developing, banks are not at risk. The Danish FSA concludes this in a new study of project financing in Aarhus and Copenhagen. The report can be read in Danish here.
 
​Today, the government published its 2025 plan for Denmark. The Danish Bankers Association supports creating increased growth in Denmark and calls the government’s plan ambitious.
 
​​New robbery statistics from the Danish Bankers Association show that Dan-ish banks were subjected to robberies 10 times during the first half of the year.
 
The situation is bad for individuals, who are saving up for retirement, and society as a whole, but a solution is to once again increase the maximum  annual contribution to annuity pension schemes to DKK 100,000
 
​Trust in the financial system is crucial for Danish banks. Therefore, a lot of resources are used to prevent the financial system from being abused in the form of money laundering and financing terror.
 
​The Danish Securities Dealers Association and the Danish Bankers Association have investigated how the country’s largest investors experience liquidity on the bond market.
 
If you have followed the news in recent months, you might have a feeling that a tax haven bank account is a piece good in banks, in line with a debit card and online banking
 
​​In a new column published in Finanswatch, Ulrik Nødgaard writes that living up to the required rate of return set by investors does not necessarily lead to excessive risk taking.
 
​A particular type of fraud is advancing in Denmark. Criminals put employees in companies under stress to pay out large amounts by pretending to be their bosses. Millions have already been lost in 2016.
 
On 1 July 2016, the committee on marketing legislation submitted a 500 page report, containing proposals for new marketing legislation. The Danish Bankers Association is pleased that the stage is now set for a clearer distri-bution of competencies between the Danish FSA and the Danish Consumer Ombudsman.
 
From 1 July, the Agency for Digitisation and Danish banks will enter a part-nership for developing the next generation of NemID. In this way, a central element of the public IT infrastructure is future-proofed and both parties have high expectations of the new collaboration.
 
 
​The United Kingdom has voted for a withdrawal from the EU. This has sent violent tremors through the financial markets, including in Denmark. However, according to the Danish Bankers Association’s assessment, Danish banks are equipped to meet the challenges.
 
​The votes have been tallied and the results are in. The Brits’ pilgrimage to the ballot box has resulted in a decision to withdraw from the EU. According to the Danish Bankers Association, this is a huge loss for Europe.
 
​The financing situation for companies has improved in recent years and banks stand in line to fund well-managed and solid companies. However, access to venture capital, particularly for small and medium-sized enterpris-es must be increased.
 
​New calculations from the Danish Bankers Association, the Association of Danish Mortgage Banks and the Danish Mortgage Banks' Federation show that Danish banks and mortgage institutions will need to raise additional capital in the region of DKK 130 billion, if the Basel IV requirements are introduced in their current form. 
 
​On 23 June 2016, the Danish Payment Council published a report on the role of cash in Denmark. According to the Danish Bankers Association, the report is a good starting point for continuing the discussion about the Dan-ish rules on cash, which currently require all shops to accept cash pay-ments.
 
​When Danes meet with financial advisors to discuss buying or selling property, they can comfortably count on the advisor living up to new tough requirements from the EU and the Danish Financial Supervisory Board (the Danish FSA).
 
​As part of implementing the new strategy and the renewal process that the Danish Bankers Association is currently undergoing, the communicative competencies are once again being enhanced. Therefore, the Danish Bankers Association has hired financial journalist Mathias Bencke Fremmen from 1 June.
 
​Today, the Association of Danish Mortgage Banks and the Danish Bankers Association met with EU Commissioner Jonathan Hill in Brussels to discuss the implications of the impending Basel regulations.
 
​The Danish government, Local Government Denmark (LGDK) and Danish Regions have recently published the new common public digitisation strategy, which lays out the objectives for digitisation in the public sector until 2020. This includes a much needed focus on the business sector and growth potential.
 
​In their annual report on the so-called “payment infrastructure”, Danmarks Nationalbank assesses that Denmark has secure, stable and effective payment systems. The Danish Bankers Association and the banking sector are working specifically on creating payment solutions that keep up with the times. The recognition from Danmarks Nationalbank is welcomed.
 
​​A review of annual reports from 2015 shows that banks’ overall return on equity lags behind other companies.
 
​When the Danish FSA (the Danish Financial Supervisory Board) abolishes the so-called ‘6 month rule’, presumably on 1 July, the risk of numerous misunderstandings in connection with granting credit for buying housing will disappear alongside it. This is the assessment of the Danish Bankers Association and the Danish Mortgage Banks' Federation, who welcome this development in a joint consultation response to the Danish FSA.
 
​Today, the final of the European Business Game (EBG) is being held in Finanssektorens Hus. 9 teams are competing in the final and a study of the participants shows that two out of three want to be entrepreneurs.
 
​Winner of the European Business Game 2016 and winner of the special prize.
 
​The Danish Ministry of Social Affairs and the Interior are working on an initiative in the fight against ID theft, where citizens will be able to set up credit protection in the Danish Civil Registration System (CPR register). The Danish Bankers Association, Finance and Leasing - the Association of Danish Finance Houses and Telecom Industry Association – Denmark welcome the new initiative and support the fight against ID theft.
 
​​This year the Danish Bankers Association will once again participate in Folkemødet (Denmark’s Political Festival on Bornholm). As something new, the Danish Bankers Association will from now on also participate in Ungdommens Folkemødet (Denmark’s Youth Political Festival), which is a democratic festival that will be held for the first time on 8 and 9 September 2016.
 
​The European Central Bank has kept interest rates negative for almost two years. This has positive effects in the form of cheaper loans, but it also hits bank revenue, according to the Danish Bankers Association.
 
​New figures from the Danish Bankers Association and the Danish National Police that have never before been published show that 23 Danish ATMs were subjected to attacks in 2015. According to the Danish Bankers Association, a continued strong focus on security is needed if the number of attacks is to be minimised.
 
​Companies, citizens and SKAT (The Danish Customs and Tax Administration) cannot find their way around the mishmash of rules and taxes.
 
New calculations by the Danish Bankers Association show that better financial circumstances increase a company’s chances of obtaining a loan at the bank by 35 percentage points. 
 
​Today, the Ministry of Business and Growth published Rapport om grund-kursus for bestyrelsesmedlemmer i pengeinstitutter, realkreditinstitutter og forsikringsselskaber (Report on a basic course for board members in finan-cial institutions, mortgage institutions and insurance companies). The aim is to strengthen competencies for board members in financial companies and the Danish Bankers Association supports this ambition.
 
​​Companies should consider equity to a much larger extent, when applying for financing. That is the opinion at the Danish Bankers Association, which also concludes that not enough companies take advantage of this option.
 
​​European Business Game in Denmark is hosting semi-finals across the country for the next 2 weeks. 47 upper secondary schools and 1,800 pupils will compete.
 
​​Due to a large leak of documents from the law firm Mossack Fonseca in Panama and internationally coordinated media coverage of the contents of the documents, e.g. the DR documentary Det store skattelæk (The Panama Papers Tax Leak), several large Danish banks have become the focus of discussion. We are now questioning whether Danish banks are also helping customers evade tax.
 
​The Money 20/20 conference will kick off in Copenhagen’s Bella Center on 4 April. Attracting 3,000 delegates from around the globe, Money 20/20 is the world’s largest conference for FinTech. Copenhagen has been selected as this year’s host city, and the vision group behind Copenhagen FinTech Hub hopes the conference will raise greater awareness in Denmark of the possibilities and potential FinTech offers.
 
​Today, the Danish newspaper, Politiken, writes that the final figures and estimation of the price of bank bailout packages, which tightened the safety net under Danish banks in connection with the financial crisis, clearly show a large surplus, worth billions.
 
​Far too many small and medium-sized enterprises (SMEs) receive venture capital through the stock market. It impedes growth and job creation. According to the Danish Securities Dealers Association, which held its annual general meeting today, the Danish stock market culture needs to be changed.
 
​​50,000 or every 20th young person in Denmark is caught in a debt trap and registered as a bad payer in the country’s largest debtor register, RKI. Overall, young people default on debt worth around DKK 1.4 billion. Every third referral to RKI comes from an information or telecommunications company.
 
​The appetiser before the inedible main course for Danish mortgages – the future capital requirements from the Basel Committee on Banking Supervision (BCBS) – has now been served. The first course mentioned here is the standardised approach for credit risk, which is expected to be a building block in the future capital requirements that are feared by the mortgage sector in particular.
 
​​As an introduction to this year’s Danish Money Week, Pengeuge, the Danish Bankers Association is releasing  four short animation films aimed at young people and social media. With the animation films, the Danish Bankers Association wants to highlight young people’s online behaviour and the issue of digital security.
 
​Today,  EU Commissioner Lord Jonathan Hill visited the Danish Bankers Association. The aim of the visit was to highlight the financial sector’s future and how financial regulation can be drawn up so that it supports growth in Europe.
 
​Today, the European Commission published a report highlighting how advanced EU countries are in terms of digitisation. Denmark is at the top.
 
​The Danish Bankers Association has assessed the number of bank robberies for 2015. There was a fall from 21 to 14 bank robberies and the Danish Bankers Association is very pleased with this development.
 
​A new report from the Danish Consumer Council and the Danish foundation Trygfonden throws the digital challenges Danes face into the spotlight. The Danish Bankers Association embraces the new technological possibilities, but emphasises that today’s rapid digitisation also requires a strong focus on security.
 
​The Danish Bankers Association has hired Jakob Legård Jakobsen as Economic Executive Director. He is 45 years old and comes from a position as Branch Executive Officer at Nykredit.
 
​New figures from the Danish Bankers Association show that the number of complaints about banks to the Danish Complaint Board of Banking Services is falling and for the second year in a row, banks have complied with all decisions from the board. The Danish Bankers Association is delighted about this positive development.
 
​Today, the Danish FSA (Danish Financial Supervisory Authority) published new guidelines for the credit rating of home buyers in areas of growth, where prices are significantly higher and where larger price increases are taking place i.e. Aarhus and the Copenhagen region.
 
​The Danish Bankers Association and the Danish Mortgage Banks’ Federation would like to thank Danish Members of the European Parliament for their support, which has been crucial in this matter.
 
​As of 1 February 2016, the Danish Bankers Association has hired Stine Luise Hansen as Head of Media Relations.
 
​Interest rates are low and remain in minus for Denmark’s banks, while bank customers are even experiencing a small plus.
This is evident from this week’s new figures from the Central Bank of Denmark
 
​Together with the Association of Mathematic Teachers in Denmark, the Danish Bankers Association is once again putting personal finances on the school timetable for the oldest classes in the country’s schools.
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