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16 April 2015

Friends 'Weekly' Newsletter


ECB's euro area bank lending survey, OTC derivatives, IASB, Brexit, BIS and more.

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  Articles from 09 April 2015 - 16 April 2015

  Banking
 
 
ECB: Results of the April 2015 euro area bank lending survey
The survey showed that euro area banks reported a further net easing of credit standards on loans to enterprises in the first quarter of 2015 (a net percentage of -9%, after -5% in the previous quarter). Euro zone banks see loan demand rising sharply after ECB boost, Reuters reports.
 
  Securities
 
 
Euractiv: Regulators warn over-the-counter derivatives are out of control
OTC trading is done between two parties, without supervision of a stock exchange. These facilitate liquidity, help mitigate risk, provide transparency and maintain a current market price. In an OTC trade, the price is not necessarily available to the public.
 
  Insurance
 
 
Insurance Europe: Risk of information overload as EU disclosure requirements set to double
Transparency is crucial for consumer protection, as it helps consumers compare products and make informed decisions. However, the disclosure of too much information is counterproductive and risks distracting and confusing consumers.
 
  Corporate Governance/Accounting
 
 
IASB: IFRS Foundation's updated guide to IFRS use around the world
The guide provides a summary of the use of IFRS in 138 countries around the world, representing over 97 per cent of the world’s GDP.
 
  Political
 
 
Financial Times: Most European business chiefs back Britain in EU, study shows
More than four-fifths of business executives in Europe want Britain to stay in the EU, while three-quarters say an exit would hurt the UK economy, according to a new survey.
Reuters: Brussels rules out Treaty negotiations with Britain until 2019
Whitehall officials don't see any progress on euro-zone-related proposals until late 2019 and expect that treaty change procedures may continue until 2025, The Times said.
European Parliament: The European Commission's economic decision-making needs to become more neutral
MEPs also voiced concerns about the low implementation of the Commission’s Country-Specific Recommendations and asked what it would do about high current account surpluses in Germany and other exporting countries.
 
  Economic
 
 
Financial Times: An economic future that may never brighten
The decline in potential growth leads to debate about the savings glut and secular stagnation, writes Martin Wolf.
BIS: The international monetary and financial system - Its Achilles heel and what to do about it
Claudio Borio argues the system amplifies the "excess financial elasticity" of domestic policy regimes, i.e. it exacerbates their inability to prevent the build-up of financial imbalances, or outsize financial cycles, that lead to serious financial crises and macroeconomic dislocations.
 
  Member States
 
 
Financial Times: France risks Brussels ire with reduced structural budget cuts
Michel Sapin disclosed new pledges to narrow the structural deficit by 0.5 per cent of Gross Domestic Product in 2016 and 2017. This is less than the 0.8 per cent and 0.9 per cent efforts requested by the Commission.
 

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