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21 May 2015

Friends 'Weekly' Newsletter


Fitch's rating actions, BBA's review into UK's banking industry, regulation of financial benchmarks by the EP, 110th Brussels for Breakfast, Grexit, Brexit and much more.

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  Articles from 14 May 2015 - 21 May 2015

  Banking
 
 
Fitch takes rating actions on European and US Banks on Support Revision
The ratings agency also published rating actions on global systemically important banks in Switzerland and on banks in Hong Kong. These actions include affirmations, downgrades and upgrades of Issuer Default Ratings (IDRs) depending on specific circumstances.
BBA on competitiveness of UK and EU referendum
The British Bankers Association (BBA) will lead a review into the competitiveness of the UK on behalf of the banking industry. The BBA is also concerned about the uncertainty around the EU referendum that might make banks leave the country.
 
  Securities
 
 
EP agrees negotiating mandate for regulation of financial benchmarks
The European Commission's proposal to make benchmarks more reliable and less at risk of manipulation moved forward today after the European Parliament cleared the way for negotiations with the Council and the Commission to start next month.
 
  Asset Management
 
 
IPE: Look at pension arrangements not IORPs
Informing pension fund members about the true value of liabilities is the key to avoiding social unrest in future, according to the Actuarial Association of Europe (AAE).
 
  Financial Services Policy
 
 
BoE: Financial Markets - identifying risks and appropriate responses
Three areas of action are highlighted as the main ongoing PRA measures in maintaining the stability of the financial system.
 
  Grahams Articles, Comments & Speeches
 
 
110th Brussels for Breakfast
Main topics included: Brexit, increasing financial integration, Denmark and Banking Union, PSD2, Capital Market Union and MiFID impacts on research and CPD obligations.
 
  Political
 
 
EurActiv: What can Brussels do to avoid Brexit?
Brussels should support a process by which the British government, as well as some key groups within the UK, such as business, can argue that the electorate will vote on staying in a reformed EU.
Financial Times: The simple core of the Grexit and Brexit conundrums
Wolfgang Münchau writes that the European problems of Greece and Britain involve no innate difficulty for them staying in the EU.
Open Europe: Is EU treaty change really mission impossible?
One of the most contentious elements of David Cameron’s EU renegotiation push is his stated intention to change the EU Treaties.
 
  Financial
 
 
European Parliament: Tougher rules on money laundering to fight tax evasion and terrorist financing
The ultimate owners of companies will have to be listed in central registers in EU countries, open both to the authorities and to people with a "legitimate interest", such as investigative journalists.
 
  Economic
 
 
The ECB’s recent monetary policy measures: Effectiveness and challenges
Mario Draghi analyses how ECB's monetary policy measures have become more complex over the past year, culminating in the decision of expanding asset purchases towards public sector securities.
 
  Budgetary
 
 
Bruegel: Greece’s hot summer
An analysis of preliminary figures for budget execution over the period January-April 2015.
 

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