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07 June 2018

Friends 'Weekly' Newsletter


Bank resolution planning, capital markets, supervisory disclosure, central clearing, Capital Markets Union, securitisation, EMU, ECB internal models,central clearing, MiFID II, future UK-EU economic partnership and more.

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  Articles from 31 May 2018 - 07 June 2018

  Banking Union
 
 
FSB launches thematic peer review on bank resolution planning and invites feedback from stakeholders
The objective of the review is to evaluate implementation by FSB jurisdictions of the resolution planning standard set out in the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions and in associated guidance in relation to banks.
Javier Alonso: Banks' traditional funding sources - opportunities for capital markets
The Bank of Spain Deputy Governor highlighted some developments related to banks’ funding sources that he thinks may offer new opportunities for capital markets. He also touched upon Brexit, an event that is generating great uncertainty and for which careful preparation is required.
EBA publishes final amended technical standards on supervisory disclosure
These standards specify the format, structure, contents list and annual publication date of the supervisory information to be disclosed by competent authorities. The amended draft ITS incorporate the changes to the EU legal framework and the establishment of the Single Supervisory Mechanism (SSM).
ECB: Report on the results of the Survey on the Access to Finance of Enterprises in the euro area – October 2017 to March 2018
The ECB´s survey report identified that SMEs continued to indicate improvements in availability of external sources of finance; lower, albeit still high, percentage of SMEs reported increasing turnover and profits; and fewer SMEs reported falling interest rates on bank loans.
 
  Capital Markets Union
 
 
Capital Markets Union: Making it easier for insurers to invest in new class of securitised assets
The Commission has adopted new rules to stimulate insurers' investments in simple, transparent and standardised (STS) securitisation.
Steven Maijoor Addresses ICMA Annual Conference on benchmark stability and integrity
Steven Maijoor delivered a keynote speech that focused on the development and future of benchmarks regulation in the European Union.
ESMA adopts final product intervention measures on CFDs and binary options
ESMA formally adopted new measures on the provision of contracts for differences and binary options to retail investors.
 
  Financial Services Policy
 
 
ECIIA: ECB internal models guide should clarify assurance responsibilities
While ECIIA welcomes the ECB’s draft guide on internal models for financial services organisations, more clarity is needed in some areas over the role of internal audit and other assurance functions.
 
  Economic
 
 
EurActiv: Juncker: ‘Completing the EMU is more important than ever’
With an eye on Italy and Spain and the possible political and financial turmoil there, the European Commission chief Jean-Claude Juncker called once again for a fast and deep reform of the Economic and Monetary Union.
EurActiv: Merkel offers Macron concessions on eurozone reforms
German Chancellor Angela Merkel delivered a long-awaited answer to French President Emmanuel Macron’s call for ambitious European Union reforms, offering olive branches on investment and help for debt-mired eurozone member states.
 
  Brexit & UK
 
 
BBC: Brexit 'weighing on business investment'
Political uncertainty over Brexit is weighing on business investment, which has fallen to the lowest level for a year, a survey indicates.
Open Europe: Striking a Balance: A blueprint for the future UK-EU economic partnership
Open Europe's new report outlines a proposal for the future bilateral trading relationship where the UK remain highly integrated with the EU in goods, but obtains the flexibility to diverge in services.
Bank of England's Jon Cunliffe: Central Clearing and Resolution – learning some of the lessons of Lehmans
The BoE's Deputy Governor in Financial Stability addresses the progress that has been made to reform derivatives’ markets, and explains how the concentration of counterparty risk in central counterparties is managed and why we need to have a resolution regime for CCPs.
Bloomberg: UK banks face Brexit blow in France’s tilt at MiFID rules
France is seeking to tighten the equivalence rules of the MiFID II regulations, which would help UK finance firms do business in the European Union after Britain leaves the bloc, according to an internal policy document circulated in Brussels and seen by Bloomberg News.
Handelsblatt: Banks seek answers to remaining Brexit Question
Handelsblatt discusses the Brexit question which remains unanswered for those in the financial sector: Will financial institutions be allowed to conduct derivative transactions in euros in London post-Brexit?
 

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