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14 September 2017

Friends 'Weekly' Newsletter


Basel III monitoring exercise, MiFID II, ESMA report on Trends, Risks and Vulnerabilities, Eurobills, State of the Union Address 2017, EU-UK Customs after Brexit, Ireland and Northern Ireland status post-Britain withdrawal and more.

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  Articles from 07 September 2017 - 14 September 2017

  Banking Union
 
 
EBA: The EBA CRDIV CRR Basel III monitoring exercise shows further improvement of EU banks capital leverage and liquidity ratios
This exercise presents aggregate data on EU banks' capital, leverage, and liquidity ratios assuming full implementation of the CRD IV-CRR/Basel III framework. Overall, the results show a further improvement of European banks' capital positions, with a total average CET1 ratio of 13.4% (12.8% as of 30 June 2016).
BCBS: Basel III monitoring results published by the Basel Committee
The Basel Committee today published the results of its latest Basel III monitoring exercise based on data as of 31 December 2016. The Committee established a rigorous reporting process to regularly review the implications of the Basel III standards for banks, and it has published the results of previous exercises since 2012.
 
  Capital Markets Union
 
 
Report from the Commission on the need to temporarily exclude exchange-traded derivatives
This report provides an assessment of the need to temporarily exclude exchange-traded derivatives from the scope of Articles 35 and 36 of Regulation on Markets in Financial Instruments.
MiFID II: ESMA publishes transitional transparency calculations for bonds and updates calculations for two other asset classes
ESMA has updated its transitional transparency calculations for non-equity instruments in relation to the implementation of the Markets in Financial Instruments Directive/ Markets in Financial Instruments Regulation.
 
  Asset Management
 
 
Hedgeweek: Asset managers risk missing MiFID II and PRIIPs deadline
Asset managers may miss the deadlines of their insurance and wealth management partners for MiFID II and PRIIPs data delivery as they’re too focused on the end of year regulatory starting point and ignoring full preparation time.
 
  Financial Services Policy
 
 
ESMA sees valuation risk at highest levels due to financial weakness and geopolitical uncertainty
ESMA’s latest report on Trends, Risks and Vulnerabilities identifies high asset price valuations as the major risk for European financial markets in the second half of 2017.
 
  Friends Services
 
 
“Eurobills” as a Safe Asset that blends Fiscal Rules progressively with Market Discipline
Graham Bishop's response to the European Commission Reflections on Deepening EMU.
Graham Bishop's evidence to House of Lords EU Committee – Financial Affairs on Financial Regulation and Supervision following Brexit
Graham Bishop's Evidence for this Enquiry focusses on the issues of “adequately aligned regulation and financial stability”, given the international influence from the FSB and BCBS. It relates principally to Questions 2, 6, 14 and 15.
 
  Political
 
 
President Jean-Claude Juncker's State of the Union Address 2017
The Commission President laid out his vision for a more unified and politically-accountable EU after Brexit, which would combine the presidencies of the Commission and the Council, complete the euro currency zone, and push the bloc to take “a democratic leap forward” in unison and at a single speed.
 
  Brexit & UK
 
 
European Commission publishes guiding principles on Ireland and Northern Ireland
The paper states that the Good Friday Agreement should continue to be protected and strengthened in all its parts after the UK's withdrawal from the EU. The continuation of the Common Travel Area, which facilitates the interaction of people in Ireland and the UK, should also be recognised.
Institute for Government: Implementing Brexit: Customs
Introducing customs declarations after Brexit would affect up to 180,000 UK traders and could cost traders over £4 billion a year, according to the IfG analysis paper Implementing Brexit: Customs.
Position paper transmitted to EU27 on Customs related matters needed for an orderly withdrawal of the UK from the Union
The principles outlined in this paper by the European Commission aim to ensure an orderly withdrawal of the United Kingdom from the Union in respect of customs related matters.
The Times: London remains top for financial services
London has held on to its position as the world’s most attractive financial centre, while New York has fallen amid concerns about President Trump’s trade policy.
AFME: Impact of Brexit on cross-border financial services contracts
The Association of Financial Markets called for "early action" to provide the necessary clarity that cross-border financial services contracts will continue following the exit of the UK from the EU.
Government responds to Brexit: UK-Irish relations report
The UK Government has responded to the report of the European Union Committee on Brexit: UK-Irish relations.
 

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