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Articles from 06 September 2018 - 13 September 2018 |
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Banking Union |
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EBA revises standardised NPL data templates
The EBA published a revised version of the standardised NPL data templates that aim at facilitating the NPL sale transactions across the EU. The revised templates include minor changes following the feedback received from the testing of the original version published in December 2017. View Article |
ESAs see return of volatility in new risk report
The European Union’s securities, banking and insurance sectors continue to face a range of risks, the latest report on risks and vulnerabilities in the EU financial system by the Joint Committee of the European Supervisory Authorities shows. View Article |
ECB launches public consultation on the risk-type-specific chapters of its guide to internal models
The ECB has published the three risk-type-specific chapters of its guide to internal models for consultation. These chapters, on credit risk, market risk and counterparty credit risk, are intended to ensure a common and consistent approach to the most relevant aspects of the applicable regulations on internal models for banks directly supervised by the ECB. View Article |
EBA publishes QIS templates to assess the impact of the finalised Basel III standards
The EBA released the two sets of templates, which will be used in the 2018 impact assessment of the finalised Basel III standards. These two sets of quantitative impact study (QIS) templates will ensure that the data collection burden is proportionate to the institutions' size and complexity. View Article |
OMFIF: Target-2 enters the political sphere
A fierce debate is underway in Germany on the Target-2 balances, the intra-euro area settlement accounts. Those playing down the importance of these balances are not presenting very convincing arguments, writes Frank Westermann. View Article |
Financial Times: After the crisis, the banks are safer but debt is a danger
It is said that generals often plan to fight the last war. Ten years on from the collapse of Lehman Brothers, many experts fear a new financial crisis. In fact, the global financial system is much more robust than before 2008, but the global economy is still threatened by excessive debt. View Article |
Financial Times: Policymakers call for more firepower to fight recession
Governments need more weapons to fight the next economic downturn, since central banks’ firepower is likely to be limited, current and former policymakers have warned. View Article |
VOX: The transition to a banking union for the EMU
The transition to a European banking union is not straightforward. A key issue is how to prioritise risk sharing and risk reduction. This column examines three possible approaches, describing the respective transition scenarios and analysing the consequences for banks during the transition phase. View Article |
Per Callesen: The European banking union in perspective - is there risk sharing and joint liability?
The Governor of the National Bank of Denmark speaks about the European banking sector and the banking union, focusing on the issue of risk sharing. View Article |
Commissioner Moscovici's introductory remarks at the Eurogroup press conference
The Commission had its first follow-up discussion in expanded format following the June Euro Summit, which confirmed the December deadline for the next decisions to be taken to reform and strengthen the EMU. Everybody agreed on the time table proposed by the President of the Eurogroup. View Article |
Remarks by Vice-President Dombrovskis at the informal ECOFIN press conference in Vienna
Mr Dombrovskis shares some points the Commission has discussed, like the financial stability implications of increasing interest rates, necessity to further strengthen the resilience of financial system and views on crypto-assets. View Article |
ECB: Financial stability and the ECB
Mr Yves Mersch, Member of the Executive Board of the ECB, addresses the question in his speech: what role does EU law ascribe to the ECB in contributing to the stability of the financial system? View Article |
Bank of England: Extension of Mark Carney’s term as Governor and reappointment of Jon Cunliffe as Deputy Governor
At the request of the Chancellor, the Governor has agreed to extend his term to January 2020. View Article |
EBF supports the EC proposal to establish a framework to facilitate sustainable investment
The EBF welcomes the choice of Regulation as the legislative vehicle for delivering these results. Establishing the key definitions that will shape understanding of what is a sustainable economic activity and the steps that should logically follow need to happen within both a global context and the legal framework of an appropriate harmonization process at EU level. View Article |
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Capital Markets Union |
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ISDA response to FSB DAT report on clearing incentives
ISDA appreciates that the FSB is evaluating not only the regulatory reforms individually, but also – importantly – how they intersect. ISDA also welcomes an analytical framework that supports post-crisis regulatory objectives while rationalising the regulatory framework where appropriate. View Article |
ESMA: Volatility spikes underline fragilities and risks to EU securities markets and investors
EU securities markets, infrastructures and investors face new risks in the form of high volatility, ESMA said in its latest Trends, Risks, and Vulnerabilities Report. It also reiterated its concerns about cyber risk and Brexit risks for business operations. View Article |
ESMA publishes opinion on proposed amendments to SFTR technical standards
The European Securities and Markets Authority has published an Opinion in response to the European Commission’s proposed amendments of the technical standards on reporting under the Securities Financing Transactions Regulation (SFTR). View Article |
Financial Times: EU rule changes deliver mixed results so far
MiFID II was expected to boost sales of exchange traded funds — particularly for the biggest fund providers. So far, however, evidence of their impact on the market is mixed. View Article |
MIFID II: ESMA issues latest double volume cap data
ESMA has updated its public register with the latest set of double volume cap (DVC) data under the Markets in Financial Instruments Directive. View Article |
ISLA releases its Securities Lending Market Report, 9th Edition
The report considers the scope and depth of the securities lending markets globally including the key role that securities lending plays around the mobilisation of High Quality Liquid Assets (HQLA) and how the slow down in quantitative easing from central banks could change this market. View Article |
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Clients Union |
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Commercial Risk Europe: Second US firm hit with shareholder action over readiness for GDPR
Experts have warned that companies, and their top management, face even greater risks from the GDPR in certain parts of the world than they may have previously though. View Article |
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Insurance |
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ECB: Euro area insurance corporation statistics: second quarter of 2018
In the second quarter of 2018 total assets of euro area insurance corporations amounted to €7,966 billion, only marginally higher than in the first quarter of 2018. Total insurance technical reserves of euro area insurance corporations amounted to €6,049 billion, €30 billion higher than in the first quarter of 2018. View Article |
Global Federation of Insurance Associations: IAIS must take more balanced approach to insurers’ digital innovation
GFIA has published its response to an issues paper by the International Association of Insurance Supervisors (IAIS) on the increasing use of digital technology in insurance and its potential impact on consumers. View Article |
GFIA: Insurers warn on proposed changes to IAIS disclosure rules
Insurers would need to develop new systems to capture the information required in proposed revisions by the International Association of Insurance Supervisors (IAIS) to Insurance Core Principle (ICP) 20 on public disclosure, GFIA said in response to an IAIS consultation. View Article |
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Asset Management |
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EFAMA: Uncertainty about trade policy and international relations causes dive in European net sales of UCITS and AIFs
The European Fund and Asset Management Association published its latest Quarterly Statistical Release describing the trends in the European investment fund industry in the second quarter and first half of 2018 with key data and indicators for each EFAMA member countries. View Article |
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Corporate Governance/Accounting |
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Deloitte readiness survey highlights complexities around implementing the new Leases standards
Deloitte launched the Global IFRS 16 and ASC 842 readiness survey, which highlights the challenges and complexities facing organisations when implementing IFRS 16 and ASC 842 across the world. View Article |
CFA Institute: Segment disclosures from investor perspectives
The CFA Institute has published a report 'Segment Disclosures: Investor Perspectives' in which it surveyed its members regarding their level of satisfaction with existing segment disclosure requirements and solicited their views on areas for improvement. View Article |
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Anti-Money Laundering |
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State of the Union 2018 – Stronger anti-money laundering supervision for a stable banking and financial sector
On the occasion of his State of the Union Address, President Jean-Claude Juncker said: "Europeans expect a Union that protects them. Today, we propose measures to allow us to fight money laundering more effectively across borders." View Article |
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Financial Services Policy |
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Bloomberg: Europe is in no rush to regulate crypto market
Crypto traders reeling from a week of losses are getting a soothing message from the European Union. Finance ministers gathering in Vienna agreed that they won’t rush with steps to further regulate the market, and that they’ll wait for the outcome of a thorough analysis by European authorities before deciding on any steps, according to officials involved in the talks. View Article |
Bruegel: The economic potential and risks of crypto assets: is a regulatory framework needed?
What is the economic potential and the risks of crypto assets? Regulators and supervisors have taken great interest in these new markets. This Policy Contribution is a version of a paper written at the request of the Austrian Presidency of the Council of the European Union for the informal ECOFIN meeting of EU finance ministers and central bank governors. View Article |
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Grahams Articles, Comments & Speeches |
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Sleepwalking towards crash-Brexit – 144th Brussels for Breakfast – CPD Notes
The odds for a no-deal, chaotic Brexit soared in the summer due to fierce infighting within the Conservative party and the publishing of recommendations in case of no-deal, to the point that some argue that May's government will be completely unable to achieve any form of Brexit agreement. View Article |
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Friends Services |
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Sleepwalking towards crash-Brexit – 144th Brussels for Breakfast – CPD Notes
The odds for a no-deal, chaotic Brexit soared in the summer due to fierce infighting within the Conservative party and the publishing of recommendations in case of no-deal, to the point that some argue that May's government will be completely unable to achieve any form of Brexit agreement. View Article |
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Political |
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Bloomberg: The campaign against Europe just got a boost from Swedish voters
Europe’s political outsiders chalked up another milestone in the Swedish election as a rise in support for nationalists showed the battle lines being drawn right across the continent. View Article |
POLITICO: Verhofstadt plans pan-European liberal alliance with Macron
European Liberal leader Guy Verhofstadt said Sunday his group is ready to campaign together with French President Emmanuel Macron in next year’s European election and create a movement that will be a “pro-European alternative to nationalists.” View Article |
Deutsche Welle: German conservative Manfred Weber aims to lead European Commission
Manfred Weber, head of the conservatives in the European Parliament, announced his intention to lead the European Commission. Brussels' Brexit negotiator Michel Barnier is also thought to be a leading contender. View Article |
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Economic |
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Employment up by 0.4% in both the euro area and the EU28
The number of persons employed increased by 0.4% in both the euro area (EA19) and the EU28 in the second quarter of 2018 compared with the previous quarter, according to national accounts estimates published by Eurostat. View Article |
GDP up by 0.4% in both euro area and EU28
Seasonally adjusted GDP rose by 0.4% in both the euro area (EA19) and the EU28 during the second quarter of 2018, compared with the previous quarter, according to an estimate published by Eurostat. View Article |
Insurance Europe: More clarity needed in latest OECD tax avoidance paper
Insurance Europe supports the efforts of the Organisation for Economic Co-operation and Development to tackle tax avoidance through its base erosion and profit shifting (BEPS) initiative. View Article |
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Graham's tweets |
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Sleepwalking towards crash-Brexit - a comprehensive but compact roundup of the latest key EU events, with CPD notes on the 114th #BrusselsforBreakfast debate@CSFI1 https://t.co/H7Y2M5gBgE — Graham Bishop #FBPE (@GrahamBishopcom)
Read our latest monthly roundup of key #EU events, debated during the latest @CSFI1 144th Brussels for Breakfast #B4B #EMU #CMU #MIFID2 #ECB #Brexit https://t.co/TUb4ZXNDX0 — Graham Bishop #FBPE (@GrahamBishopcom)
© Graham Bishop
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