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09 July 2015

Friends 'Weekly' Newsletter


EBA, banking resolution, BRRD, Basel II and III, SESFOD Survey 2015, EIOPA, Solvency II, Brexit, Greece, Euro Summit, IMF, ECB and more.

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  Articles from 02 July 2015 - 09 July 2015

  Banking
 
 
EBA defines functioning of EU banking resolution colleges
The European Banking Authority published its Final draft RTSs that specify the operational functioning of the resolution colleges established for those groups that operate on a cross-border basis in the European Economic Area.
EBA issues final standards on processes for notifying that a banking institution is failing
The European Banking Authority’s RTS aims at harmonising at EU level the process and content of notifications, as well as the notice of suspension, to be followed when a banking institutions operating in the EU is failing or likely to fail.
EBA publishes final technical standards to ensure effective resolution under the BRRD
The European Banking Authority published its final draft RTS on the Minimum Requirement for Own Funds and Eligible Liabilities, and on the contractual recognition of bail-in.
BIS: FSI Survey - Basel II, 2.5 and III Implementation
The FSI published the results of its 2015 survey by disclosing the information received from 98 non-BCBS/non-EU jurisdictions.
 
  Securities
 
 
EBA publishes its report on qualifying securitisation
The publication follows the public hearing held previously and sets out the detailed advice provided by the EBA to the European Commission.
ECB: Results of SESFOD Survey 2015
European Central Bank's survey on credit terms and conditions in euro-denominated securities financing and OTC derivatives markets shows a tightening of price terms offered to hedge funds, investment funds, pension plans and other institutional investment pools.
 
  Insurance
 
 
EIOPA publishes Set 2 of Solvency II Technical Standards and Guidelines
European Insurance and Occupational Pensions Authority’s set covers different areas from all three Solvency II pillars: quantitative basis; qualitative requirements; reporting and disclosure.
 
  Corporate Governance/Accounting
 
 
BIS: Revised principles on corporate governance for banks issued by the Basel Committee
The revised guidance stresses the importance of risk governance as part of a bank's overall corporate governance framework and promotes the value of strong boards and board committees together with effective control functions.
 
  Grahams Articles, Comments & Speeches
 
 
The Hellenes are heading for Hades - the votes of 4m cannot bind 250m voters
The twists and turns of Tsipras become ever more bizarre. “Brussels” has become used to the Athenians arriving with various “Trojan horse” proposals.
Deepening EMU – Round-up of Key Events – June 2015
Greece and European institutions broke the negotiations off and Greek PM Tsipras called for a referendum with results that may cause a political tsunami in the EU. The European Commission presented the Five President's Report, and the European Council and Parliament updated the PSD2.
 
  Political
 
 
European Commission: Result of the Euro summit on Greece
(8th July) The Euro summit of 7 July discussed the situation in Greece following the Greek referendum. President Juncker explained that he expects the Greek government to submit its reform proposals by Friday morning, and said he was against a Grexit.
Deloitte: UK CFOs shrug off Grexit risks and back EU membership
Three quarters of Britain’s finance chiefs urge the UK to remain in the European Union, according to a survey made to the views of 122 CFOs of FTSE 350.
IMF: Greece - Preliminary Draft Debt Sustainability Analysis
(2nd July) The International Monetary Fund recognises that the Greek debt is unsustainable, and a haircut in it will become necessary. Greece will still need €36bn from EU lenders to stabilize its finances, and the maturities of existing European loans will need to be extended significantly.
 
  Economic
 
 
Policy Network: Europe’s unfinished business
Alongside the risk of Brexit, Greece's possible exit from the eurozone should force a debate on how the single market might function better in the whole of the EU, not simply within the currency union.
 

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© Graham Bishop

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