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19 November 2015

Friends 'Weekly' Newsletter


ECB's assesment for nine banks, updated rules on electronic payment services, EFAMA, UCITS, G20, EMU, Brexit, 2016 Euro Area Member States Budgets and more.

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  Articles from 12 November 2015 - 19 November 2015

  Banking
 
 
ECB concludes comprehensive assessment for nine banks
None of the nine banks fell below the threshold ratio of 8% CET1 after the AQR, while the effect of the combined AQR and stress test resulted in five banks falling below the threshold ratio of 5.5% CET1 in the adverse scenario.
Council adopts updated rules on electronic payment services
The directive aimed at further developing an EU-wide market for electronic payments incorporates and repeals directive 2007/64/EC.
 
  Securities
 
 
Council adopts transparency rules on securities financing transactions
The regulation is intended to counter the risk of trading activities developing outside the regulated banking system, or otherwise without proper oversight.
 
  Asset Management
 
 
EFAMA: Sharp fall in net sales of UCITS In August 2015 triggered by volatile markets
UCITS experienced a sharp decline in net sales registering €9 billion, compared to the net inflows of €63 billion in July. This can be attributed to outflows from equity and bond funds, as well to a reduction of net inflows into balanced funds and money market funds.
 
  International/G20
 
 
Bloomberg: G-20 Says Inequality Causes Instability as It Urges Tax Action
The Group of 20 is set to list inequality as a threat to both global stability and economic growth, as it urges more action against cross-border tax-dodging.
 
  Grahams Articles, Comments & Speeches
 
 
Reforming the EU and Completing the Economic and Monetary Union
News headlines about the EU are dominated by the migration crisis but it cannot detract from the importance of securing the economic and financial stability of the Eurozone, and thus the EU as a whole.
Heading for Spanish general election
Rajoy unveiled the seven pillars of his electoral programme as the latest polls show the PP would achieve a narrow victory on 20th December; still he would probably need C’s to pass legislation. But Catalan secession challenge and downgraded economic forecasts loom large in the electoral campaign.
 
  Political
 
 
Britain Stronger in Europe: How UK trade benefits from our EU membership
This briefing paper has been made available to Britain Stronger In Europe by three former UK Ambassadors to the EU, the UN and the US: Lord Hannay, Lord Kerr, and Sir Nigel Sheinwald.
City AM: The UK is now more in favour of leaving the EU than remaining a member, according to a new poll
In the first poll conducted since Prime Minister David Cameron outlined his demands for EU treaty change, there has been an increase in support for leaving the EU, to 53 per cent, against 47 per cent who want to remain.
 
  Financial
 
 
EurActiv: EU 'brains' warn about end of free capital markets by 2030
Europe faces daunting years ahead, according to a report by the European Strategy and Policy Analysis System, which looks at major global developments until 2030. By that year, the report predicts that all current member states, except Denmark and the UK, “may well have joined the eurozone”.
 
  Economic
 
 
Second Deloitte CFO European Survey: Greek crisis damaged EMU in non-eurozone states
The Greek crisis that kept politicians busy in the summer of 2015 has fuelled particularly negative sentiments among business leaders from the non-eurozone countries, according to a report by Deloitte.
Hearing at the European Parliament’s Economic and Monetary Affairs Committee
ECB's Draghi talked about two issues: the ECB's current economic outlook and the upcoming reassessment of it at its December meeting; and the macroeconomic adjustment programmes over the last half-decade and the ECB’s role in them.
ECB ready to do more if inflation outlook weakens, Draghi tells MEPs
The EU economy is showing resilience in the face of external circumstances, but the European Central Bank’s March inflation forecast was too positive, ECB President Mario Draghi admitted during the regular Economic and Monetary Affairs Committee meeting.
 
  Budgetary
 
 
Commission adopts Opinions on the 2016 Draft Budgetary Plans of euro area Member States
The European Commission has completed its assessment of the 16 Draft Budgetary Plans (DBPs) for 2016 that euro area Member States submitted in October.
 

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