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23 April 2015

Friends 'Weekly' Newsletter


ECB, ICMA, Basel Comitee, FAQ, TTIP, ESAs, G20, The City and Brexit...

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  Articles from 16 April 2015 - 23 April 2015

  Banking
 
 
ECB: Annual Report 2014
This annual report describes the ECB’s tasks and activities through 2014 and paints the wider macroeconomic picture. Compared with previous years, ECB has streamlined and enhanced the content in order to give the best possible overview.
Reuters: ECB risks freezing repo market, ICMA official says
The ECB risks secured-lending or repo markets grinding to a halt unless it works more closely with national central banks to improve liquidity, a senior trade association official told Reuters.
Basel Committee removes selected national discretions and replies to FAQ on funding valuation adjustment
National discretion allows countries to adapt the Basel standards to reflect differences in local financial systems. However, the use of national discretions can also impair comparability across jurisdictions and increase variability in risk-weighted assets.
 
  Securities
 
 
ICMA: Economic Importance of the Corporate Bond Markets
ICMA reports on why corporate bond markets are so important for economic growth, for investors, for companies, and for governments; and why it is therefore essential that laws and regulations that affect them avoid any unintended adverse consequences that could inhibit those markets.
Financial Times: Clearing houses hit back at European plans
A group of seven European derivatives exchanges operators have hit back at regulators’ plans to give investors greater choice to trading futures and options, saying law drafts underplay risks to financial stability.
 
  Insurance
 
 
Insurance Europe: EU and US insurers continue to support TTIP and call for full inclusion of financial services
Insurance Europe, the American Insurance Association (AIA), and the American Council of Life Insurers (ACLI) continue to support the Transatlantic Trade and Investment Partnership (TTIP) and reiterate their call for the inclusion of financial services in the agreement.
3rd Joint ESAs Consumer Protection Day
The 3rd Joint Committee of the European Supervisory Authorities (ESAs) Consumer Protection Day will focus on conduct risk, the next decade in finance, and the growing digitalisation of financial services.
 
  Corporate Governance/Accounting
 
 
IASB/Hoogervorst: Financial reporting standards for the world economy
The IASB Chairman presented the IFRS Foundation’s and the IASB’s newly developed mission statement and provided an update on the progress of IFRS adoption around the world.
 
  Financial Services Policy
 
 
Reuters: EU finance ministers asked to set capital markets union priorities
Setting clear priorities would generate momentum for the EU's "capital markets union" plan to lift growth, EU president Latvia proposed. The CMU project aims to increase the amount of funds raised by stock, bond and other markets for companies to grow.
FSB Chair's Letter to G20 on Financial Reforms – Progress on the Work Plan for the Antalya Summit
The letter from the FSB chair to G20 Finance Ministers and Central Bank Governors ahead of their meeting in Washington in April 2015 provides an update on progress at last month’s FSB Plenary meeting in Frankfurt.
 
  Economic
 
 
Vox EU: Three waves of convergence. Can Eurozone countries start growing together again?
An oft expressed view is that the Eurozone is a straitjacket on periphery members and income convergence has slowed, halted or reversed. This column argues that EZ convergence never stopped. What changed was the type of convergence. Today’s convergence is neither nominal nor real, it is structural.
 
  Member States
 
 
CSFI: The City and Brexit
A CSFI survey of the financial services sector's views on Britain and the EU.
 

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