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28 April 2016

Friends 'Weekly' Newsletter


EBA, BCBS, interest rate risk in the banking book, ESMA, EIOPA, Pan-European Personal Pension product, Retail Financial Services, OECD, Barack Obama, Brexit, ECB, CMU, monetary policy decisions, CSPP, national insolvency frameworks and more.

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  Articles from 21 April 2016 - 28 April 2016

  Banking
 
 
BCBS: Standards for interest rate risk in the banking book issued by the Basel Committee
The standards revise the Committee's 2004 Principles for the management and supervision of interest rate risk, which set out supervisory expectations for banks' identification, measurement, monitoring and control of IRRBB as well as its supervision.
EBA consults on disclosure of encumbered and unencumbered assets
The EBA launched a consultation on draft RTS on the disclosure of encumbered and unencumbered assets for the provision of transparent and harmonised information on the topic, as laid down in the Capital Requirements Regulation (CRR).
EBA discloses first list of O-SIIs in the EU
The EBA published the first list of Other Systemically Important Institutions (O-SIIs) in the EU. This list reflects also the additional capital buffers that the relevant authorities have set for the O-SIIs they have identified.
 
  Securities
 
 
ECB: Financial re-integration trend moderates, but ambitious capital markets union will boost benefits of integration
The 2016 edition of the ECB’s report on Financial Integration in Europe, published at a joint conference with the EU Commission at the ECB in Frankfurt, shows that financial integration in the euro area is advancing.
European Commission: Capital Markets Union - Taking stock of the progress made so far
The Commission is taking stock of the progress made in the first six months since the adoption of the Capital Markets Union Action Plan and it is publishing the first CMU status report.
European Commission letters to ESMA on non-equity transparency, the ancillary test and position limits
The European Commission informed ESMA about its decision to endorse draft regulatory technical standards on the non-equity transparency, the ancillary test and position limits provided that certain changes are made.
 
  Asset Management
 
 
EIOPA: Final Report on the public consultation on a Pan-European Personal Pension product
EIOPA published a Final Report on its public consultation related to the creation of a standardised pan-European Personal Pension Product.
 
  Financial Services Policy
 
 
ESMA publishes response to Commission Green Paper on Retail Financial Services
ESMA published its response to the European Commission’s Green Paper on Retail Financial Services.
 
  Friends Services
 
 
£350m p.w. Falsehood by the Leave Campaigns
The Leave campaign's claim of £19 billion annually/£350m per week as the cost of being a member of the EU has been rebutted both officially and by commentators. Yet the Brexiteers persist in spreading this major falsehood that is intended to mislead electors.
 
  Political
 
 
OECD study finds Britons will be paying a heavy “Brexit tax” for many years if UK leaves EU
A UK exit from the EU would immediately hit confidence and raise uncertainty which would result in GDP being 3% lower by 2020, which equates to GBP 2200 per household. The OECD states in a new study that such costs are already piling up.
The Guardian: Britons may need visa to visit Europe post-Brexit, says justice minister
New checks on travel to France or Germany could be the price of more secure borders, suggests leave campaigner Dominic Raab.
The Telegraph: Barack Obama: As your friend, let me say that the EU makes Britain even greater
US President writes: "The European Union doesn’t moderate British influence – it magnifies it. A strong Europe is not a threat to Britain’s global leadership; it enhances Britain’s global leadership."
 
  Economic
 
 
ECB: Monetary policy decisions and details of the CSPP
The European Central Bank announced that the main interest rates will remain unchanged. It also published the details of the corporate sector purchase programme (CSPP).
Eurogroup statement - Thematic discussions on growth and jobs: National insolvency frameworks
The Eurogroup agreed on a number of core common principles that could serve as guidance to improve national insolvency frameworks.
 

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