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17 March 2016

Friends 'Weekly' Newsletter


Securities Financing, CCPs, IFRS, retail financial services, FAMR, FinTech payments, better law making, Brexit, ECB's monetary policy decisions, banking union and more.

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  Articles from 10 March 2016 - 17 March 2016

  Securities
 
 
ESMA consults on Securities Financing Transaction Regulation
The discussion paper sets out proposals for implementing the reporting framework under the SFTR, including tables of the fields with the proposed data to be reported, and the registration requirements for those TRs which want to accept reports on security financing transactions.
European Commission adopts equivalence decision for CCPs in USA
The European Commission grants the USA the equivalent regulatory regime for central counterparties as the European Union.
 
  Corporate Governance/Accounting
 
 
IPE: MEPs reignite war of words over prudent accounting standards
Members of the European Parliament’s Committee on Economic and Monetary Affairs have launched a stinging attack on the IFRSs and the IASB. A neutrally worded draft of the now explosive report emerged in January. It hinted that the Parliament had softened the tone of its rhetoric against IFRSs.
 
  Financial Services Policy
 
 
The EPC responds to the European Commission´s green paper on retail financial services
The EPC notes that, overall, the paper seems to rely largely on anecdotal evidence. The Payments Council expects this to be complemented with analysis and rigorous quantitative research as the basis for public policy or any legislative initiative.
FCA: Final report on Financial Advice Market Review
This report presents a series of measures aimed at stimulating the development of a market that provides affordable and accessible financial advice and guidance for everyone, at all stages of their lives. It also contains proposals designed to increase consumer engagement with financial advice.
 
  Friends Services
 
 
`Fin Tech’ Payments: the Revolution Ahead
`Instant payments’ may change the financial system far more than can be imagined easily today. A deeply technical part of the financial infrastructure may surprise us all by launching a revolution.
 
  Political
 
 
CBI to make economic case to remain in EU after reaffirming strong member mandate
80% of CBI members think being in EU is best for their business, according to a ComRes survey.
The Evening Standard/Lord Hill: Brexit risks ruling us out of our best market
It’s good sometimes to hold a mirror up to ourselves. So maybe we should consider what countries on the other side of the world think about London’s place as a global financial centre, writes the European Commissioner for Financial Stability, Financial Services and Capital Markets Union.
Better law-making agreement adopted by the Council
The main purpose of a better law-making agreement adopted by the Council is that the Council, the European Parliament and the Commission will cooperate more closely to ensure a better delivery to European citizens and businesses.
EurActiv: ECB questions banks over ‘Brexit’ preparations
Supervisors of the European Central Bank are questioning banks over their preparations for a possible British exit from the European Union and the ensuing reaction in foreign exchange markets, Handelsblatt newspaper reported.
 
  Financial
 
 
European Parliament: Completion of Banking Union on track, but important work still ahead
The Commission and the ESAs should conduct an in-depth assessment of the effect of increasing capital requirements in current and future legislation on credit supply, especially to small and medium sized companies, Parliament says in a resolution on the state of the Banking Union.
 
  Economic
 
 
ECB: Monetary policy decisions
The Governing Council of the ECB decided to decrease the interest rate to 0.00% and to expand the monthly purchases under the APP to €80 billion, among other decisions.
ECB adds CSPP to the asset purchase programme and announces changes to APP
The Governing Council of the ECB decided to establish a new programme to purchase investment-grade euro-denominated bonds issued by non-bank corporations established in the euro area with the aim of further strengthening the pass-through of the Eurosystem’s asset purchases.
 

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