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23 November 2017

Friends 'Weekly' Newsletter


2018 EU-wide stress test, G-SIB list, CET1 instruments, SREP Guidelines, European banking sector, ESMA priorities in 2018, securitisation rules, MAR, no-Brexit option, future UK trade deal, London’s euro clearing and more.

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Banking Union Capital Markets Union Market Abuse
Friends' Services Brexit & UK About this email

  Articles from 16 November 2017 - 23 November 2017

  Banking Union
 
 
EBA publishes methodology for the 2018 EU-wide stress test
The EBA published its final methodology for the 2018 EU-wide stress test, following a discussion with industry in summer 2017. The methodology covers all relevant risk areas and, for the first time, incorporates IFRS 9 accounting standards.
FSB publishes 2017 G-SIB list
The Financial Stability Board (FSB) published the 2017 list of global systemically important banks (G-SIBs) using end-2016 data and an assessment methodology designed by the Basel Committee on Banking Supervision (BCBS).
EBA updates list of CET1 instruments
The European Banking Authority published its sixth updated list of capital instruments that Competent Authorities (CAs) across the European Union have classified as Common Equity Tier 1 (CET1).
EBA observes good progress in implementation of SREP Guidelines but challenges remain
The EBA published its third annual Report on the convergence of supervisory practices across the EU. The Report reviews consistency in the application of the SREP in order to promote comparable supervisory approaches and consistency in supervisory outcomes across the single market.
ECB's Lautenschläger: The European banking sector - the big challenges
The Vice-Chair of the Supervisory Board of the ECB focused on the two main risks for EU banks: non-performing loans, Brexit. In addition to that, Lautenschläger discussed a third topic which is closely connected to risk: capital buffers, and how to calculate them using internal models.
ECB's Draghi: Hearing of the Committee on Economic and Monetary Affairs of the European Parliament
ECB President Mario Draghi discussed the outlook for the euro area economy and the recalibration of ECB‘s monetary policy measures, as well as the role of TARGET2 in supporting financial integration and the implementation of ECB’s monetary policy.
 
  Capital Markets Union
 
 
AIMA: Steven Maijoor speaks about ESMA priorities in 2018
The Chairman of the European Securities and Markets Authority identified key principle workstreams for ESMA for 2018 and discussed ESMA's measures regarding Brexit.
Capital markets union: Council adopts securitisation rules
The new rules are part of the EU’s plan to develop a fully functioning capital markets union by the end of 2019. Developing a securitisation market will help create new investment possibilities and provide an additional source of finance, particularly for SMEs and start-ups.
ECB's Mersch: Securitisation revisited
In his speech, Yves Mersch, Member of the Executive Board of the ECB, addresses the following questions: Is securitisation part of CMU agenda? It is not helping banks to sanitise their balance sheets more rapidly when there is such a great need?
 
  Market Abuse
 
 
ESMA updates Q&A on MAR
ESMA updated its Questions & Answers document regarding the implementation of the Market Abuse Regulation.
 
  Friends Services
 
 
Likelihood of a no-deal on the rise: The no-Brexit option finds its way back to the table - 135th Brussels for Breakfast – CPD Notes
The downs-and-downs of the Article 50 negotiations so far have put into focus the harsh reality of Brexit: there is no alternative to EU membership that is even better than being a member state, but rather a binary choice: to be ‘in’ or ‘out’ of the largest economic market in the world.
 
  Brexit & UK
 
 
Main results - General Affairs Council (Art. 50)
EU27 ministers discussed the state of play of the Brexit negotiations and selected new seats for the two EU agencies currently based in the UK.
Taxation (Cross-border Trade) Bill introduced in Parliament
The Bill will lay the foundations for the UK’s standalone customs regime.
The Guardian: Barnier says EU will not compromise standards in future UK trade deal
The EU’s chief Brexit negotiator, Michel Barnier, has said that any move by a British government to abandon European-style policies will complicate the agreement of a post-Brexit trade deal in national and regional parliaments across the bloc.
Bank of England: Monetary policy from end to end: Define, decide, deliver
The Deputy Governor for Markets and Banking, Sir Dave Ramsden, outlines his assessment of the UK economy and examines how it has responded since last year’s referendum on European Union membership.
Financial Times: EBA shift expected to weaken UK role in regulation
The planned move of the European Banking Authority’s headquarters from London to Paris will reduce the UK’s influence over the rules governing European finance, experts said.
Financial Times: Deutsche Börse eyes City of London’s euro clearing crown
More than 20 investment banks and market makers have signed up for Deutsche Börse’s attempt to draw London’s prized swaps clearing business from its City home.
 

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