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21 April 2016

Friends 'Weekly' Newsletter


ECB's euro area bank lending survey, BRRD, EBA, BCBS, CCPs, Solvency II, pension funds, EU non-financial reporting requirements, Graham Bishop speech at the FedTrust debate on Brexit, HM Treasury analysis on the impact of UK's EU membership, polls on British referendum and more.

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  Articles from 14 April 2016 - 21 April 2016

  Banking
 
 
EBA publishes final Guidelines for disclosing confidential information under the BRRD
The EBA published its final Guidelines defining how confidential information collected under the BRRD should be disclosed in summary or collective form without identifying individual institutions or relevant entities.
Definitions and disclosure of non-performing exposures and forbearance proposed by the Basel Committee
The Basel Committee on Banking Supervision has issued for consultation its Guidelines on the prudential treatment of problem assets - definitions of non-performing exposures and forbearance.
ECB: Results of the April 2016 euro area bank lending survey
Euro area banks reported a further net easing of credit standards on loans to enterprises in the first quarter of 2016. Competitive pressures remained the main factor behind this easing. By contrast, credit standards on loans to households for house purchase tightened.
 
  Securities
 
 
ESMA announces EU-wide stress tests for CCPs
ESMA announced the publication of its first EU-wide stress test exercise regarding Central Counterparties on 29 April 2016.
 
  Insurance
 
 
EIOPA consults on methodology to derive ultimate forward rate (UFR) under Solvency II
To achieve the main objective of Solvency II, protection of policyholders, the UFR needs to be chosen appropriately. The proposed UFR strives for a balance between the stability of the UFR and the need to adjust the UFR in case of change in long-term expectations about interest rates and inflation.
EIOPA consults on treatment of infrastructure corporates under Solvency II
The EIOPA published a Consultation Paper on the request by the European Commission to EIOPA for further technical advice on the identification and calibration of other infrastructure investment risk categories i.e. infrastructure corporates.
 
  Asset Management
 
 
EIOPA recommends to enhance risk assessment and transparency of pension funds
EIOPA published its Opinion on a Common Framework for Risk Assessment and Transparency for Institutions for Occupational Retirement Provision.
 
  Corporate Governance/Accounting
 
 
ACCA, EuropeanIssuers, FEE: Response to consultations on the implementation of EU non-financial reporting requirements
ACCA, EuropeanIssuers and FEE have responded to the EC’s consultation on the non-binding guidelines on a methodology for reporting non-financial information.
 
  Friends Services
 
 
Should the United Kingdom remain a member of the European Union or leave the European Union?
Graham Bishop speech notes for the Federal Trust debate on the UK's EU membership.
 
  Political
 
 
Deutsche Welle: Brexit survey - UK should stay in EU
Euroskepticism and a rejection of establishment parties are on the rise in the EU. Amid the turmoil, a recent survey has looked at how Germany and other EU states view a possible "Brexit" and its consequences.
Open Europe: A common British-Polish vision for EU reform in the event of Remain
Open Europe has teamed up with the Freedom Institute, a leading Polish think-tank, to set out a common Polish-British agenda for long-term EU reform in the event the UK remains an EU member.
The Telegraph: City of London would take hit from Brexit, warns Mark Carney
The City of London could lose its position as the world’s leading financial centre in the event of Brexit, Mark Carney, the Bank of England Governor, has warned.
HM Treasury analysis: the long-term economic impact of EU membership and the alternatives
HM Treasury analysis on the EU referendum shows that a vote to leave would mean Britain would be permanently poorer.
Bloomberg: G-20 says growth risks are stabilizing as shock of Brexit looms
Finance chiefs of the Group of 20 economies said risks to the global recovery have stabilized while threats to the outlook remain, including terrorism and the U.K.’s potential exit from the European Union.
YouGov: Feeling it in the purse could spell victory in the Referendum campaign
The Remain side leads for one point in the Brexit debate - 40% of British people would vote to stay In the EU compared to 39% that would vote for an exit. British people say that if they felt they would personally be poorer they'd decisively support the Remain campaign, YouGov has found.
TheCityUK: EU exit could put at risk up to 100,000 jobs in financial services by 2020
Leaving the EU could put at risk up to 100,000 financial services jobs by 2020, according to a new PwC report.
 
  Budgetary
 
 
ECA: Further improvements needed to ensure effective implementation of the excessive deficit procedure
The ECA has published a special report on effective implementation of the excessive deficit procedure. The excessive deficit procedure is a key element of economic governance in the EU. It is used where necessary to correct the trajectory of deficit and debt in the Member States.
 

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