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26 November 2015

Friends 'Weekly' Newsletter


EBA wide transparency exercise, financial benchmarks, SMEs financing, CMU, EIOPA, Brexit, Banking Union, European Deposit Insurance Scheme, Single Resolution Fund, corporate taxes, EU 2016 budget and more.

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  Articles from 19 November 2015 - 26 November 2015

  Banking
 
 
EBA: EU banks better capitalised in 2015, but NPLs remain of concern
The EBA published the outcome of its 2015 EU-wide transparency exercise and provided detailed bank-by-bank data on capital positions, risk exposure amounts and asset quality on 105 banks from 21 countries of the European Economic Area (EEA).
 
  Securities
 
 
Financial benchmarks: Commission welcomes agreement on new rules to prevent manipulation
The new rules will reduce the risk of manipulation by ensuring that benchmark providers in the EU have prior authorisation and are subject to proper supervision.
FEE/ESBG/UEAPME: EU associations trio strongly involved with SMEs forge common CMU position
FEE, ESBG and UEAPME provide a set of ideas to improve access to finance for SMEs under the Capital Markets Union. The trio says to be deeply committed to supporting Commission CMU work and calls on policymakers to recognise that typical SMEs won’t get financing they need from capital markets.
 
  Insurance
 
 
EIOPA seeks evidence on the treatment of infrastructure corporates
This paper describes the evidence that EIOPA is aware of based on the previous call for advice on infrastructure, and sets out the specific areas where EIOPA would be interested to know if additional evidence or data is available.
 
  International/G20
 
 
G20/OECD high level principles on SME financing
These high level principles are addressed to G20 and OECD members and other interested economies, to support their efforts to enhance access to a diverse range of financing instruments by SMEs, including micro-enterprises, and entrepreneurs.
 
  Friends Services
 
 
Introductory remarks to the House of Lords EU Committee
Graham Bishop gave evidence on the subject of the Five Presidents Report and the Communication on Completing EMU.
 
  Political
 
 
The Independent: Majority of British public now wants a 'Brexit', poll reveals
More than half of the public now want to leave the EU, according to a survey for The Independent - the first time this monthly survey has shown a majority for “Brexit.”. Shift of public opinion in aftermath of Paris attacks will be seen as reflection of anxiety over refugee crisis.
City AM: It’s time business started to play its vital role in Britain’s EU membership debate
Britain's EU membership referendum's outcome will define the UK's relationship with their closest geographical neighbours for decades to come. It is a key issue for businesses, but they are avoiding the debate.
 
  Financial
 
 
European Commission: A stronger Banking Union - New measures to reinforce deposit protection and further reduce banking risks
The Commission has proposed a euro-area wide insurance scheme for bank deposits and has set out further measures to reduce remaining risks in the banking sector in parallel.
ECON: Estimating the bridge financing needs of the Single Resolution Fund - How expensive is it to resolve a bank?
This paper provides estimates of the potential financing needs of the SRF, based on the euro area bank resolutions that actually occurred between 2007 and 2014. The authors find that the SRF would have been asked to put a total amount of about €72 billion into these failing banks.
 
  Economic
 
 
Parliament calls for corporate tax makeover
MEPs urged EU member states to agree on mandatory country-by-country reporting by multinationals of profits and taxes, a common consolidated corporate tax base, common definitions for tax terms and more transparency and accountability with regard to their national tax “rulings” for companies.
 
  Budgetary
 
 
EU 2016 budget approved by the Council
The 2016 EU budget provides for €155.00 billion in total commitments, and the level of total payments is set at €143.89 billion.
 

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