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17 March 2016

Brexit 'Weekly'


FinTech payments, better law making, Brexit, ECB's monetary policy decisions, banking union and more.

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Graham's Articles, Comments & Speeches
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  Articles from 10 March 2016 - 17 March 2016

  Grahams Articles, Comments & Speeches
 
 
`Fin Tech’ Payments: the Revolution Ahead
`Instant payments’ may change the financial system far more than can be imagined easily today. A deeply technical part of the financial infrastructure may surprise us all by launching a revolution.  View Article
 
  Political
 
 
Better law-making agreement adopted by the Council
The main purpose of a better law-making agreement adopted by the Council is that the Council, the European Parliament and the Commission will cooperate more closely to ensure a better delivery to European citizens and businesses.   View Article
TheCityUK: A practitioner's guide to Brexit
The work addresses the practical questions businesses need to be aware of in the event of a Brexit and looks more widely at the EU referendum debate.  View Article
CBI to make economic case to remain in EU after reaffirming strong member mandate
80% of CBI members think being in EU is best for their business, according to a ComRes survey.  View Article
City AM: City consultants issue stark warning over Brexit-induced uncertainty
In a new report Bovill, a specialist financial services regulatory consultancy, said that because the specific implications of the UK leaving the EU "remain unclear", many firms are "finding it difficult to know where to start when it comes to contingency planning".  View Article
British companies 'could be forced out of business' by Brexit, says Oxford University
Migration Observatory at Oxford University report says overall economic impact of a "yes" vote would "probably be relatively small" but some sectors are more vulnerable.  View Article
The Guardian: The idea of Brexit is pure Project Fantasy. But the dangers are very real
The argument to leave the EU is based on deception and denial of the huge damage that leaving the world’s largest single market would do to UK's economy, writes Alan Johnson.  View Article
The Evening Standard/Lord Hill: Brexit risks ruling us out of our best market
It’s good sometimes to hold a mirror up to ourselves. So maybe we should consider what countries on the other side of the world think about London’s place as a global financial centre, writes the European Commissioner for Financial Stability, Financial Services and Capital Markets Union.   View Article
EurActiv: ECB questions banks over ‘Brexit’ preparations
Supervisors of the European Central Bank are questioning banks over their preparations for a possible British exit from the European Union and the ensuing reaction in foreign exchange markets, Handelsblatt newspaper reported.  View Article
Open Europe: What could the EU-Canada free trade deal tell us about Brexit?
The author discusses the pros and cons of the EU-Canada deal - increasingly cited by the ‘Leave’ camp as a possible model the UK could adopt for its relationship with the EU after Brexit-, and how easily it could serve as a template for Britain.  View Article
EurActiv: Brexit - What would it mean for UK trade?
The stakes will be high for Britain’s historic role as a free-trading nation when it holds a referendum on whether to stay in the European Union on 23 June.  View Article
EurActiv: Majority of French back holding ‘Frexit’ referendum
53% of French surveyed would like to hold a referendum on their country’s continued EU membership, a new poll has revealed, fuelling fears that Britain’s own referendum will give others ideas and unravel the EU’s unity.  View Article
Financial Times: Ireland prepares for Brexit fund influx
The Irish central bank has begun preparations for an influx of investment managers if the UK votes to leave the EU, amid fears that fund houses will no longer be able to sell their products from London.  View Article
Telegraph: Brexit would be damaging for EU-Commonwealth relations, says former Maldives president
The UK in the EU gives countries within the Commonwealth a voice with which to speak with Europe, says Mohamed Nasheed.  View Article
 
  Financial
 
 
European Parliament: Completion of Banking Union on track, but important work still ahead
The Commission and the ESAs should conduct an in-depth assessment of the effect of increasing capital requirements in current and future legislation on credit supply, especially to small and medium sized companies, Parliament says in a resolution on the state of the Banking Union.  View Article
VoxEU: Europe’s untapped capital market
Europe’s capital markets are poorly functioning and are underdeveloped. Governments' and financial institutions' bond issuance are an exception, but their activism is mostly a result of the financial difficulties of recent years. To fix this, a Capital Markets Union should be implemented.  View Article
 
  Economic
 
 
ECB: Monetary policy decisions
The Governing Council of the ECB decided to decrease the interest rate to 0.00% and to expand the monthly purchases under the APP to €80 billion, among other decisions.  View Article
ECB adds CSPP to the asset purchase programme and announces changes to APP
The Governing Council of the ECB decided to establish a new programme to purchase investment-grade euro-denominated bonds issued by non-bank corporations established in the euro area with the aim of further strengthening the pass-through of the Eurosystem’s asset purchases.  View Article
ECB announces new series of targeted longer-term refinancing operations (TLTRO II)
The Governing Council of the ECB decided to launch a new series of four TLTRO II. The new operations will offer attractive long-term funding conditions to banks to further ease private sector credit conditions and to stimulate credit creation.   View Article
ICMA briefing note on ECB Corporate Sector Purchase Programme
ICMA published a briefing note on how it intends to respond to the CSPP, and to work with its members, across committees and the regions, to help ensure that the CSPP achieves its objective without compromising resilient and well-functioning European corporate bond markets.  View Article
Paul Goldschmidt: The Prescriptions of the ECB - "Big Bazooka" or "Damp Squib"?
Member States cannot just rely on hope, in the belief that a new crisis will necessarily offer the opportunity to relaunch successfully the European project.  View Article
Financial Times: The European Central Bank has lost the plot on inflation
There is nothing fundamentally wrong with any of the decisions except that the bank missed a trick, writes Wolfgang Münchau.  View Article
IPE: ECB throws 'kitchen sink' at problems with expansion of QE's scope
The European Central Bank is to grow the scale of its quantitative easing programme by €20bn a month, expanding it to include a wider range of corporate bonds.  View Article
 

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