Follow Us

Follow us on Twitter  Follow us on LinkedIn
 
Home>
Print Page Save to My Library <Next Article  Previous Article>
18 January 2018

This week in "Brussels"
  Jump directly to
Banking Union Capital Markets Union Insurance
Corporate Governance/Accounting Anti-Money Laundering Temporary Eurobill Fund (TEF)
Political Financial Economic
    About this email

  Articles from 11 January 2018 - 18 January 2018

  Banking Union
 
 
The EBA Risk Dashboard confirms steady improvements in the EU banking sector but key challenges remain
Using quantitative risk indicators, along with the opinions of banks and market analysts from its Risk Assessment Questionnaire, the EBA's dashboard identified ongoing improvements in the repair of the EU banking sector but also residual risks in NPLs and profitability.   View Article
EBA publishes final Guidelines on disclosure requirements of IFRS 9 transitional arrangements
The aim of these Guidelines is to ensure consistency and comparability of the data disclosed by institutions during the transition to the full implementation of the new accounting standard and to foster market discipline.  View Article
EBA report shows that the guidelines on methods for calculating contributions to DGSs have broadly met their aims but review is needed
The Report on the implementation of its Guidelines on methods for calculating contributions to deposit guarantee schemes (DGSs) concludes that further analysis and greater experience of the risk-based systems in use is needed before proposing any changes to the current Guidelines.  View Article
ECB: Macroprudential regulation in the European Union in 1995-2014: introducing a new data set on policy actions of a macroprudential nature
The Macroprudential Policies Evaluation Database (MaPPED) offers a detailed overview of the “life-cycle” of policy instruments which are either genuinely macroprudential or are essentially microprudential but likely to have a significant impact on the whole banking system.   View Article
Bruegel: Bad news and good news for the Single Resolution Board
A first report on a key plank of the European Union’s banking union reflects on shortcomings thus far, but also suggests that recent improvements might ultimately lead the SRB to be successful in its critical missions.  View Article
Bank of England: Resolution planning: MREL reporting
In this consultation, the Prudential Regulation Authority sets out its proposed expectations for reporting on the minimum requirement for own funds and eligible liabilities (MREL) through updates to Supervisory Statement (SS) 19/13 ‘Resolution planning’.  View Article
European Commission: Payment services: Consumers to benefit from cheaper, safer and more innovative electronic payments
The revised Payment Services Directive (PSD2), which applies as of 13 January 2018, aims to modernise Europe's payment services to the benefit of both consumers and businesses, so as to keep pace with this rapidly evolving market.  View Article
EPC: The first French banking group joins the SEPA Instant Credit Transfer scheme
BPCE, a major French cooperative banking group (which includes the Banque Populaire and Caisse d’Epargne networks), is the very first payment service provider (PSP) in France to adhere to the SEPA Instant Credit Transfer (SCT Inst) scheme.   View Article
EPC public consultation on mobile contactless card payments
The EPC is running a public consultation on the Mobile Contactless SEPA Card Payments Implementation Interoperability Guidelines (MCP IIGs).   View Article
 
  Capital Markets Union
 
 
ISDA: MiFID II pre-deal research issues
As requested by the FCA, this note contains a summary of concerns around applicability of Article 12(3)(b) of the Delegated Directive in connection with the investor education process when pre-deal research is produced by independent financial analysts in the research departments of firms.  View Article
Hedgeweek: Thomson Reuters goes live with key MiFID II services
Thomson Reuters has gone live with its key MiFID II services, helping the financial services industry meet the new regulatory requirements.   View Article
Financial Times: Nomura signals research shake-up as Europe’s MiFID reforms bite
Koji Nagai laid out the challenges posed by new MiFID II reforms and the forced unbundling of research and equity sales, saying that Nomura was “not a charity” and could not provide research free of charge.  View Article
Investment & Pensions Europe: MiFID II may spur more regulation as costs come to light: Moody's
The proposal for a pan-European personal pension product (PEPP) is “timely and appropriate”, MiFID II will accentuate every trend affecting the European asset management industry today, according to Moody’s.  View Article
ICMA publishes report on state of the European repo market at year-end 2017
ICMA has published a report on the European repo market at year end 2017, based on market data and interviews with market participants to provide a brief analysis of the way the market performed and the underlying factors that affected it.  View Article
ESMA raises concerns on fees charged by CRAs and Trade Repositories
Based on this evidence, the Thematic Report provides ESMA’s views on the application of the requirements that fees charged by CRAs should be non-discriminatory and cost-based, and TRs provide non-discriminatory access and charge publicly disclosed and cost-related fees.  View Article
 
  Insurance
 
 
Commercial Risk Europe: New report examines insurers’ readiness for IFRS 17
A Global IFRS 17 Readiness Assessment (GIRA) report has been published by Aptitude Software to assist chief financial officers (CFOs) and their finance teams in addressing IFRS 17. The report shows that insurance companies recognise the scale of the project and the significant risks to implementing IFRS 17.  View Article
Bank of England: Changes in insurance reporting requirements
The Prudential Regulation Authority proposes a number of regulatory reporting changes designed to reduce the burden for Solvency II firms and mutuals whilst maintaining the PRA’s ability to meet its statutory objectives and to supervise firms.  View Article
Insurance Europe: A new year’s resolution to keep: improve your financial literacy
To help people to better understand financial products in 2018, Insurance Europe, the European insurance and reinsurance federation, has published five new year’s resolutions to help insurance customers to insure wisely.   View Article
Commercial Risk Europe: Blockchain set to take pain out of global programmes
Blockchain technology, which has been shown to significantly reduce the administrative burden for risk managers designing multinational programmes and enhance service from insurers, is set to revolutionise this famously complicated area of insurance.  View Article
Commercial Risk Europe: Ferma and insurers on watch as the Commission paves way for more EU-wide class actions
The European risk management and insurance industries are beefing up lobbying efforts in response to the planned introduction of new European Commission rules this March that would make it easier for European consumers to bring class actions and seek compensation from companies.  View Article
 
  Corporate Governance/Accounting
 
 
EFRAG's report to the European Commission on the assessment of the impact of IFRS 9 on long-term investments in equity instruments
EFRAG issued a letter to the Commission to report on the findings of the first phase (the assessment phase) of its investigation into the significance of investments in equity instruments and the possible effects on long-term investments of the new requirements in IFRS 9 Financial Instruments.  View Article
Deloitte commented on the IASB's proposed amendments to IAS 8
Deloitte has responded to the IASB's ED/2017/5 'Accounting Policies and Accounting Estimates (Proposed amendments to IAS 8)' that was published in September 2017.  View Article
IASB: The IFRS 17 accounting model in one page
The IASB published a simple one-page summary of the accounting model in IFRS 17 Insurance Contracts. This summary will help stakeholders understand different elements of the model and how they will be displayed on a company’s balance sheet and in its profit or loss statement.  View Article
IFAC´s agreed-upon procedures engagements
IFAC has released a new publication, Agreed-Upon Procedures (AUP) Engagements: A Growth and Value Opportunity. Agreed-Upon Procedures engagements provide a great opportunity for small- and medium–sized practices to grow, and deliver a valuable client service.   View Article
 
  Anti-Money Laundering
 
 
New rules to speed up freezing and confiscating criminal assets across the EU
It will be quicker and easier for a member state to request that the property of a criminal in another member state be frozen or confiscated, compared to existing EU measures, under the new rules adopted by the Civil Liberties Committee.  View Article
 
  Temporary Eurobill Fund (TEF)
 
 
“How to reconcile risk sharing and market discipline in the euro area”: Some observations on the new Vox paper
In this fallow period for policy-making while Europe waits for a new German Government, it is welcome that an illustrious group of Franco-German thinkers should publish a Vox paper that outlines a complete, coherent strategy for the Eurozone.  View Article
 
  Political
 
 
Financial Times: A German coalition deal to radically reshape Europe
Germany’s two main parties finally reached a preliminary agreement for a grand coalition that signals a shift to more agenda-driven EU politics, writes Wolfgang Munchau.  View Article
Mário Centeno starts mandate as Eurogroup President
Mário Centeno started his mandate as Eurogroup President, taking over from Jeroen Dijsselbloem who served in the position since 2013.   View Article
Bertelsmann Stiftung: Europeans see the EU as a protective umbrella in the era of globalization
Analysis carried out by the German think tank found that right-wing conservative parties are mobilizing votes throughout Europe with their criticism of globalization and the EU. By contrast, centrist parties cannot agree about how best to respond to this policy of rejection.   View Article
 
  Financial
 
 
VoxEU: How to reconcile risk sharing and market discipline in the euro area
This column proposes six reforms which, if delivered as a package, would improve the euro area’s financial stability, political cohesion, and potential for delivering prosperity to its citizens, all while addressing the priorities and concerns of participating countries.  View Article
 
  Economic
 
 
Financial Times: ECB joins central bank chorus hinting at faster tightening
The European Central Bank has indicated it is preparing to cut its crisis-era stimulus programme faster than anticipated, joining monetary policymakers in most developed economies in expressing increased confidence in the global economic recovery.  View Article
Report on Public Finances in EMU 2017
This annual report presents a review of key policy developments and analytical findings in the area of public finances in the EU.  View Article
Financial Times: Dijsselbloem and the lessons of the eurozone debt crisis
The outgoing eurogroup chief has issued a parting warning that the eurozone is still not “shock resilient”. Jeroen Dijsselbloem said further reform efforts were needed in Greece and other countries, despite his five years of steering through divisive bailouts and major policy steps.  View Article
Financial Times: Bundesbank to include renminbi in its currency reserves
The renminbi rose after Germany’s central bank said it would include the currency in its reserves, a move seen as boosting the internationalisation of China’s currency.   View Article
Annual inflation down to 1.4% in the euro area
Euro area annual inflation was 1.4% in December 2017, down from 1.5% in November, according to Eurostat.  View Article
Euro area international trade in goods surplus €26.3 bn
The euro area recorded a €26.3 bn surplus in trade in goods with the rest of the world in November 2017, compared with +€23.8 bn in November 2016.  View Article
EU28 current account surplus €69.4 bn
The EU28 seasonally adjusted current account of the balance of payments recorded a surplus of €69.4 billion (1.8% of GDP) in the third quarter of 2017, up from a surplus of €47.5 billion (1.2% of GDP) in the second quarter of 2017, according to estimates released by Eurostat.  View Article
POLITICO: EU to remove 8 countries from tax haven blacklist
EU finance ministers will remove eight countries, including Panama, from the bloc’s tax haven blacklist after the nations made commitments to improving their tax policies.  View Article
ACCA: Taxation highs and low identified in EU report on policy
The EU report shows that Ireland is not a high tax country with total tax receipts as a percentage of GDP the lowest in the EU and the Effective Marginal Tax Rates lowest 1/3 in the EU.  View Article
 

  Graham's tweets


© 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