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17 September 2015

Friends 'Weekly' Newsletter


EBA, Basel III, ECB, CMU, ECON, ESMA, ECIIA, IASB, IMF, Brussels for Breakfast, State of the Union debate, The City, BIS and more.

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  Articles from 10 September 2015 - 17 September 2015

  Banking
 
 
EBA publishes results of the Basel III monitoring exercise as of of 31 December 2014
This European Banking Authority's exercise allows the gathering of aggregate results on capital ratios and leverage ratio, as well as on liquidity ratios - liquidity coverage ratio and net stable funding ratio - for banks in the European Union.
 
  Securities
 
 
ECB: Medium to long-term priorities of CMU for the ECB/Eurosystem
Panel remarks by ECB's Mersch, stating that CMU needs to be pursued through a higher level of ambition to achieve greater capital markets development and deeper financial integration.
ESMA Chair's statements to the ECON Committee at the EP
ESMA's Maijoor delivered a statement on ESMA's achievements over the last year to the Economic and Monetary Affairs Committee of the European Parliament. He also gave two more statements: one on the overall work of the Joint Committee and one on PRIIPs.
Open Markets: Europe's search for capital
The goal of the CMU is to expand capital access for businesses across Europe; attract more financing in the EU and beyond; and help create a more stable financial system overall. Seven months on, has this long-term project gotten off to a good start? Graham Bishop shares his vision.
 
  Corporate Governance/Accounting
 
 
ECIIA: Internal audit could review corporate tax disclosures
According to the ECIIA, internal auditors could play a key role in the EC efforts to improve corporate tax transparency by reviewing organisations’ disclosures to the tax authorities, or to the general public.
IASB/Hoogervorst: Impairment requirement will result in fundamental change
IASB's Chairman Hoogervorst said in his speech that the forward-looking expected loss model in the new financial instruments standard should provide investors with better insight on loan loss risks.
 
  International/G20
 
 
IMF: “But we are different!” - 12 common weaknesses in banking laws, and what to do about them
Well-designed banking laws are critical for regulating banks. In spite of what is often argued, the types of weaknesses of banking laws are hardly country-specific; many weaknesses are shared by many banking laws. This working paper discusses those weaknesses and ways to remedy them.
 
  Friends Services
 
 
113th Brussels for Breakfast
Topics included: President Juncker’s State of the Union speech; Brexit developments; G30 Report on Banking Culture and Conduct; BBA report on the rise of Fin Tech; EIOPA’s consultation on infrastructure as a new asset class and the EMIR review; `29th regime’ for insolvency.
 
  Political
 
 
European Commission: Completing EMU - press remarks by VP Dombrovskis after informal ECOFIN
Commissioner Dombrovskis's speech focused on further deepening of the Economic and Monetary Union, highlighting improved and strengthened macroeconomic and fiscal governance and the Banking Union, with the European Deposit Insurance Scheme at issue.
European Commission: State of the Union 2015 - Time for Honesty, Unity and Solidarity
In his speech, Commission President Juncker said that "our European Union is not in a good state," and called for a stronger union. Juncker also talked about the refugee crisis, the Greek bailout, the Five President's report and the Ukrainian crisis.
 
  Financial
 
 
TheCityUK: Key facts about EU financial and related professional services report 2015
The report reinforces the important role UK industry plays across the European Union, in particular how it supports jobs and growth across the EU, provides business investment and finances government.
 
  Economic
 
 
BIS: September 2015 BIS Quarterly Review - vulnerabilities of emerging market economies take centre stage
The September issue of the Bank for International Settlements Quarterly Review highlights the increased focus of investors on vulnerabilities in emerging market economies and the consequences for global markets.
ECB: The Bank for the Accounts of Companies Harmonized database
BACH is a free-of-charge database containing the aggregated accounting data of non-financial incorporated enterprises for, so far, 11 European countries. According to the EBA, it is the most reliable source of available data for European companies.
ECON: Draft report with recommendations to the EC on bringing transparency, coordination and convergence to Corporate Tax policies
The report from the Committee on Economic and Monetary Affairs briefs the Commission about key findings from the Luxleaks scandal, and mentions a number of recommendations on corporate taxation and aggressive tax planning, transparency, coordination and convergence.
 

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