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03 December 2015

Friends 'Weekly' Newsletter


EPC, CMU, Prospectus, IPE, pension funds, IFRS 9, Brexit, SRF, ECB and more.

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  Articles from 26 November 2015 - 03 December 2015

  Banking
 
 
The EPC publishes its proposal for the design of a pan-European instant credit transfer scheme
The EPC proposal covers the general features of the future SCT Inst scheme, which will be used for instant credit transfers in euro in SEPA countries. It is a major milestone in the development of instant payments in euro across Europe.
 
  Securities
 
 
Capital markets union: Council agrees its negotiating stance on securitisation
The Permanent Representatives Committee (Coreper) approved, on behalf of the Council, a negotiating stance on proposals aimed at facilitating the development of a securitisation market in Europe.
The Commission proposes to overhaul prospectus rules to improve access to finance for companies and simplify information for investors
The proposed Regulation is a key action of the CMU Action Plan. SMEs in particular will find it easier to raise funding when issuing shares or debt. Companies already listed on public markets will also benefit when they want to list additional shares or issue corporate bonds.
 
  Asset Management
 
 
IPE: Brussels calls on member states to support collective pension savings
European Union member states must promote collective pension savings vehicles, the European Commission urged.
 
  Corporate Governance/Accounting
 
 
IASB: New training materials for IFRS 9 and IFRS 15
Education Initiative released new training materials for IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers to support those providing continuing professional development (CPD)—sometimes called continuing professional education (CPE)—to others.
PIIE/Nicolas Veron: EU Endorsement of the IFRS 9 Standard on Financial Instruments Accounting
Peterson Institute for International Economics has published Nicolas Veron´s statement on the endorsement by the EU of the IFRS 9 Standard on accounting for financial instruments, presented at a hearing of ECON Committee of the European Parliament.
 
  Friends Services
 
 
Deepening EMU – Round-up of Key Events – November 2015
David Cameron kicked off the In/Out campaign over the UK’s EU membership with a letter sent to Donald Tusk. Bank resolution and SMEs financing were very topical in the EU, as well as MiFID II’s timing issue. Commissioner Hill presented his plans for a European Deposit Insurance Scheme.
 
  Political
 
 
CER: Britain, immigration and Brexit
If the UK quits the EU, it will be because British politicians have pandered to anti-immigrant sentiment rather than addressing the supply-side failures that drive it.
Labour Party: Leaving the EU would put Britain’s economic security under risk
The Labour Party launched its campaign to keep Britain in the EU saying that EU membership is vital for the security and sustainability of UK's society, economy and environment. Labour 'In' campaign focuses on worker's rights.
 
  Financial
 
 
European Council: Single resolution fund on schedule for 1 January 2016
A sufficient number of member states has ratified an intergovernmental agreement (IGA) on the transfer and mutualisation of contributions to a Single resolution fund. The enter into force of the SRF signals completion of the second pillar of Europe's banking union.
 
  Economic
 
 
ECB: Report on the results of the Survey on the Access to Finance of Enterprises in the euro area
The report provides evidence on changes in the financial situation, financing needs and access to financing of SMEs in the euro area in the six months from April to September 2015, as well as comparing the situation of SMEs with that of large enterprises.
European Parliament: Annual Growth Survey 2016 - Strengthening recovery and convergence
With its Annual Growth Survey the Commission kicks-off the 2016 European Semester. It sets out the economic and social policy priorities and recommends re-launching investment, pursue structural reforms and implement responsible fiscal policies to strengthen recovery and foster convergence.
 

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