Follow Us

Follow us on Twitter  Follow us on LinkedIn
 
Home>
Print Page Save to My Library <Next Article  Previous Article>
03 December 2015

This week in "Brussels"
  Jump directly to
Banking Securities Insurance
Asset Management Corporate Governance/Accounting Graham's Articles, Comments & Speeches
Friends' Services CPD/Education and Learning About this email

  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.   View Article
EBA provides assessment of banks' Pillar 3 reports for 2015
The EBA released its assessment of the annual Pillar 3 reports of a sample of European banks, which relate to the 2014 financial year. This is the first report since the entry into force of the CRR that assesses banks' compliance against the disclosure requirements laid down in CRR.   View Article
Reuters: Europe’s terrible banks look their best in years
Europe’s terrible banks haven’t looked this good in years. Capital levels, return on equity and lending across the banking sector rose in the six months to June. Europe’s banking union is still a work in progress, but the evidence from the first half of this year is that it’s helping.  View Article
BIS: Andreas Dombret - The situation in the German banking sector
Deutsche Bundesbank's Dombret comments on year one of European banking supervision and summarises the risk situation in the German banking sector.   View Article
Reuters: Stress test implies end to UK bank capital hikes
The Bank of England indicated British banks’ long capital build is nearly complete. The UK supervisor said that none of the country’s big seven lenders had failed its 2015 stress tests, although Royal Bank of Scotland and Standard Chartered initially flunked on some supplemental metrics.  View Article
Financial Stability Paper: Measuring the macroeconomic costs and benefits of higher UK bank capital requirements
This paper assesses whether baseline bank capital requirements are appropriate for the UK, given the characteristics of the banking system and economy, and taking into account the recent development of a bank resolution regime and requirements for additional capacity to absorb losses in resolution.   View Article
 
  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.   View Article
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.  View Article
AFME welcomes new proposals for EU Prospectus regime
Simon Lewis, Chief Executive of AFME, said that the improvement of passporting arrangements will make it simpler for issuers to access markets across the EU, giving them access to a wide range of investors without creating additional costs or administrative burden.  View Article
FESE welcomes Prospectus review
FESE fully supports increased equity market financing in Europe and further simplification of the prospectus regime is the first of many substantial steps that can be taken in order to achieve a Capital Markets Union.  View Article
Invest Europe welcomes publication of Prospectus Regulation
Thousands of Europe’s growing companies could soon find it easier to raise finance on Europe’s public markets following new EU reform proposals, according to trade association Invest Europe.  View Article
EuropeanIssuers welcomes proposed new EU Prospectus rules
EuropeanIssuers welcomes the publication of the draft Prospectus Regulation, aimed at making it easier for companies to access public capital markets.  View Article
Implementation monitoring of the PFMI: Assessment and review of application of Responsibilities for authorities
This report presents the findings of the CPMI-IOSCO assessment of the completeness and consistency of frameworks and outcomes arising from jurisdictions’ implementation of the Responsibilities for authorities in the Principles for financial market infrastructures.  View Article
ESMA publishes final report on guidelines on complex debt instruments and structured deposits in MiFID II
These guidelines are intended to enhance investor protection by identifying complex financial instruments and structured deposits for which the provision of so-called execution-only services is not possible.  View Article
ESMA: European swap clearing to start in June 2016
The clearing obligation in the Europe Union will enter into force following the publication of the relevant technical standards in the Official Journal on 1 December 2015.  View Article
CPMI and the IOSCO published the report on assessment and review of application of responsibilities for authorities
This report presents the findings of the CPMI-IOSCO assessment of the completeness and consistency of frameworks and outcomes arising from jurisdictions' implementation of the responsibilities of authorities for the principles for financial market infrastructures.  View Article
ESMA and SFC to exchange information on derivative contracts held in trade repositories
This MoU allows ESMA and SFC to have indirect access to trade repositories established in the European Union and Hong Kong respectively. It became effective on 19 November 2015.  View Article
CFTC unanimously approves proposed rule on automated trading
The proposed rules, known collectively as Regulation Automated Trading or Regulation AT, represent a series of risk controls, transparency measures, and other safeguards to enhance the U.S. regulatory regime for automated trading.  View Article
 
  Insurance
 
 
GFIA statement on Trade in International Services Agreement (TiSA)
"GFIA would like to reiterate its strong support for a new and ambitious TiSA. This agreement should be consistent with the objectives of the General Agreement of Trade in Services rules, and aim to include a large and diverse membership, including large and emerging economies.”  View Article
Bank of England: Solvency II - third-country insurance and pure reinsurance branches
This supervisory statement replaces the one published on 20 March 2015. It sets out the PRA’s expectations of third-country branch undertakings.  View Article
Commission adopts Solvency II equivalence decisions for Bermuda and Japan
The European Commission has adopted two equivalence decisions under Solvency II, the EU's new prudential regulatory regime for the insurance sector, which harmonises the insurance regulatory framework across the EU.   View Article
 
  Asset Management
 
 
AFME calls for better functioning equity markets in Europe
The report found that European equity markets remain under-developed, weakening the region’s economic potential, and urged policymakers to remove unintended liquidity restrictions in current regulatory proposals to foster a European equity culture.  View Article
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.  View Article
ESMA published updated Q&A on AIFMD
The Q&A includes new questions and answers on reporting to national competent authorities.  View Article
AMF published a working group report on the information provided in chairmen’s reports on internal control and risk management
The AMF also launched a consultation on proposals for modifying the requirements in the areas of internal control and risk management. The consultation ends on 11 December 2015.  View Article
EFAMA supports COP21 aims: Asset management industry is committed to helping investors achieve their green investment goals
EFAMA calls on policy makers to ensure a stable regulatory framework which would provide the private sector, including the investment community, with a longer pattern of confidence to allow the necessary capital flows towards transitioning to a lower carbon intensive world.  View Article
 
  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.  View Article
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.  View Article
EFRAG: Letter to the EC with the explanation of conclusion that IFRS 9 is not contrary to the true and fair principle
Upon the request of the EC, EFRAG has issued a letter to further explain how it has reached the conclusion contained in its endorsement advice that IFRS 9 Financial Instruments is not contrary to the true and fair principle.  View Article
EFRAG: Draft comment letter on the IASB's ED/2015/8 IFRS Practice Statement - Application of Materiality to Financial Statements
EFRAG has published its draft comment letter in response to the Draft IFRS Practice Statement: Application of Materiality to Financial Statements and seeks constituents’ views on the proposals.  View Article
FRC commented on EFRAG’s 2015 Proactive Agenda Consultation
The FRC considers that proactive work is an important part of EFRAG’s activities. This is particularly relevant at this point in time because the IASB is consulting on its work plan and the projects that EFRAG undertakes have the potential to influence the IASB’s work.  View Article
FEE comments on the review of structure and effectiveness of the IASB
FEE responded to the public consultation of the Trustees of the IFRS Foundation periodic review of the organisation. FEE emphasised its continued support for IFRSs as the robust, complete and broadly accepted set of global financial reporting standards to enhance Europe’s access to global markets.  View Article
ECIIA: Exploring Europe’s comply or explain principle
ECIIA welcomes a major initiative by the ECODA that focuses on how well the comply or explain approach recommended by the EC in 2014 is being followed across Europe.  View Article
 
  Grahams Articles, Comments & Speeches
 
 
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.   View Article
 
  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.   View Article
 
  CPD/Education and Learning
 
 
Brussels for Brunch Webinar November 2015
Topics included: Cameron speech on Brexit; Completing EMU and deepening the Single Market; TLAC; DGS; ECOFIN Conclusions on CMU (equivalence and securitisation); and MiFID II.   View Article
 

  Graham's tweets


© Graham Bishop

< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information


Add new comment





 


www.grahambishop.com
// Business Applications by Denaploy 		Web Master Information
Terms & Conditions
Privacy Policy