Follow Us

Follow us on Twitter  Follow us on LinkedIn
 
Home>
Print Page Save to My Library <Next Article  Previous Article>
06 November 2014

This week in "Brussels"
Jump directly to
BankingSecuritiesInsurance
Asset ManagementCorporate Governance/Accounting About this email

Articles from 30 October 2014 - 06 November 2014

Banking

Reuters: ECB to wait for stimulus to sink in, Draghi style in limelight
The European Central Bank is set to stick to the policy path laid out over the summer when it meets on November 6.  View Article
ECB assumes responsibility for euro area banking supervision
The ECB will directly supervise 120 significant banking groups, which represent 82% (by assets) of the euro area banking sector. Comments from Jonathan Hill, Martin Schulz and AFME.  View Article
Reuters: French, German resolution fund bill to be 15 billion euros per country
"We'll have a system of equal weights between France and Germany, even if Germany has a lot of small banks and German authorities want to contribute less, and we have large banks," Sapin told journalists.  View Article
European Commission assesses economic consequences of country-by-country reporting requirements set out in Capital Requirements Directive
The objective of the Commission's report is to assess whether CBCR leads to significant negative economic effects. The results of the econometric analysis suggest that improved disclosure quality can lead to a reduction in the cost of equity capital amongst other benefits.  View Article
BIS: Second GPFI/BIS conference explores implications of rapid progress on digital financial inclusion
An estimated 2.5 billion people currently have no access to formal financial services such as payments, credit, insurance and savings.   View Article
Basel Committee on Banking Supervision: Basel III - the net stable funding ratio
NSFR requires banks to maintain a stable funding profile in relation to their on- and off-balance sheet activities, thus reducing the likelihood that disruptions to a bank's regular sources of funding will erode its liquidity position.   View Article
EBA advises on the application of prudential requirements for credit and investment institutions
This Opinion follows a call for advice by the European Commission asking the EBA to look into whether the waivers under Pillar 1 and Pillar 2 are prudentially justified and whether they should be modified.   View Article
EBA consults on guidelines aimed at standardisation of fee terminology for payment accounts in the EU
The Payment Accounts Directive requires the EBA to develop standardised terminology related to payment accounts for consumers across the EU.   View Article
EBA consults on contractual recognition of bail-in
Regulatory Technical Standards of the Bank Recovery and Resolution Directive support the effective application of the write-down and conversion powers in relation to liabilities governed by the law of a third country.   View Article
EBA consults on materiality threshold of credit obligation past due
This work aims to harmonise differences in how materiality thresholds are implemented across the EU.  View Article
Reuters: Biggest banks brace for poisoned chalice of a place at the top table
About 30 banks will be formally anointed as the industry's most important players this week; a rather dubious honour costing them billions of dollars each in additional reserves and placing them under increased regulatory scrutiny.  View Article
European Payments Council launched public consultation on draft revised Scheme Management Internal Rules
The EPC Plenary reached consensus on some revisions of the SMIRs to allow for increased involvement and enhanced participation of all Scheme Participants in the management and evolution of the EPC’s Schemes.   View Article
EPC Newsletter - SEPA process going forward
Joanna Wright, Fundtech: “The expansion of the internet, social media, mobile communications and smart phones, and new payment providers (…) has changed the way consumers, corporates and banks conduct business. SEPA’s mission needs to reflect this today, and change continues into the future.”  View Article

Securities

Financial Times: Clearing house members fear they may have to stump up in case of a failure
Clearing houses, which stand between two parties in a trade, and guarantee it in the event that one party defaults, are meant to act as the financial markets’ shock absorbers.  View Article
European Commission: First 'equivalence' decisions for central counterparty regulatory regimes adopted
CCPs in Australia, Hong Kong and Singapore will be able to obtain recognition in the EU, and can be used by market participants to clear standardised OTC derivatives as required by EU legislation.  View Article
EBA, ESMA and EIOPA published addendum to joint consultation on mapping of ECAIs
The addendum provides further details on the application of the rules proposed in the draft Implementing Technical Standards in relation to particular ECAIs and is an extension of the consultation process.  View Article
FSB published Global Shadow Banking Monitoring Report 2014
The report presents data as of end-2013 from 25 jurisdictions and the euro area as a whole, covering about 80% of global GDP and 90% of global financial system assets.  View Article

Insurance

EIOPA delivered Solvency II Implementing Technical Standards on supervisory approval processes
ITS is addressed both to undertakings and national supervisors. Its purpose is to guarantee that (re)insurers present all information necessary for supervisors to give a legally certain and prudentially sound approval of key elements of Solvency II.   View Article
EIOPA Work Programme 2015
The Work Programme is the outcome of a series of exercises designed to establish where the greatest need for the Authority’s work lies, and where it should focus its resources, both human and financial, allowing for appropriate prioritisation of tasks, and ongoing monitoring of deliverables.  View Article
EIOPA published Action Plan 2015/16 for Colleges
The plan covers the implementation of Solvency II in 2016 and major changes for supervision under the new regulation.  View Article
EIOPA published the outcome of public consultation on Guidelines for the Operational functioning of colleges of supervisors
The Guidelines specify responsibilities of members and participants within supervisory colleges in order to implement cooperation and information-sharing between supervisors for cross-border groups in a convergent manner.   View Article
EIOPA consults on the calculation process for the Solvency II relevant risk free interest rate
The Technical Document intends to ensure full transparency of the calculation process.  View Article
Insurance Europe: Why insurers differ from banks
A significant number of reforms have been introduced by policymakers as a response to problems in the banking sector which have negatively impacted the entire economy. These efforts to foster sound and stable financial markets are fully supported by the insurance industry.  View Article
Commercial Risk Europe: New IAIS global capital requirements unlikely to cause problems for traditional insurers
The BCR are the first step in a process to develop global capital standards for G-SIIs. From 2019, these insurers will have to hold capital of at least the BCR, plus a higher-loss-absorption (HLA) requirement.  View Article

Asset Management

Maijoor delivers keynote address to at EFAMA Forum in Brussels
His speech focused on the regulatory challenges ahead for the asset management sector.  View Article
IPE: Pension funds split over meaning, duration of long-termism
Responses to the Focus Group survey for the November issue of IPE.  View Article
IPE: UK pension funds shy from liability-matching in favour of alternatives
The Purple Book shows the DB universe of 6,057 schemes has collective assets of €1.43trn at end March 2014, with a funding level of 67% on a full buyout basis.  View Article

Corporate Governance/Accounting

FEE comments on IOSCO’s consultation: “Proposed Statement on Non-GAAP Financial Measures”
Non-GAAP measures play an important role in Corporate Reporting. They can improve the communication between the entity and its stakeholders, as long as they are reported in a transparent and unbiased manner.   View Article
FEE comments on EFRAG’s discussion paper – “Classification of Claims”
FEE agrees with EFRAG that depicting liquidity and solvency are key objectives to bear in mind when evaluating the relevance of the classification of claims.   View Article
FEE: Response to the EC Questionnaire on the Evaluation of the IAS Regulation
FEE supports International Standards, as they enable Europe to have access to global markets and enhance the comparability, reliability and relevance of financial reporting. FEE cannot envisage any other alternative to the IFRS.  View Article
IFAC: IESBA consults on restructuring Code of Ethics for Professional Accountants
The paper seeks input from stakeholders to improve the clarity and usability of the Code, thereby facilitating its adoption, effective implementation and consistent application.  View Article
IFAC: IPSASB's public sector conceptual framework
The publication of the Conceptual Framework provides the IPSASB with the concepts that will underpin the development of IPSASs and Recommended Practice Guidelines (RPGs) in the coming years.   View Article
EFRAG’s final comment letter on accounting for dynamic risk management
EFRAG encourages the IASB to continue its work on a macro hedge accounting model, but believes it is necessary to finalise the Insurance Contracts project before it is possible to assess how any macro hedge accounting solution could apply to the insurance industry.  View Article





© Graham Bishop

< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information


Add new comment





 


www.grahambishop.com
// Business Applications by Denaploy 		Web Master Information
Terms & Conditions
Privacy Policy