Graham Bishop.com

ECOFIN: Key points from meeting on July 8th
The Meeting focussed on the Italian presidency's priorities: Structural reforms and investment in growth and jobs; and amongst other topics, the asset quality review and bank resolution rules. View Article

Bloomberg Businessweek: ECB Survey Shows Opposition to EU Bank-Structure Bill
The European Commission is considering barring major banks from proprietary trading. Banks are calling on the commission to reconsider the proposal, which would force them to split off certain trading activities from main businesses. View Article

EBA: Consultation on tests, reviews and exercises that may lead to public support measures
The EBA launched a consultation on its draft Guidelines specifying the type of tests, review or exercises that may lead to extraordinary public support measures for institutions. View Article

EBA: Consultation on resolution planning and on measures to address impediments to resolvability
The EBA launched two consultations on draft RTS on resolution planning and on draft Guidelines on measures to reduce or remove impediments to resolvability. These RTS and Guidelines promote a consistent and coherent approach to bank resolution across the EU. View Article

EBA publishes new taxonomy for remittance of supervisory reporting
In the ITS on supervisory reporting, the EBA presents an XBRL taxonomy: data items, business concepts, relations, visualisations and validation rules, including amendments relating to asset encumbrance, forbearance and non-performing exposures. View Article

EBA publishes final guidelines on significant credit risk transfer for securitisation transactions
These Guidelines will support both originator institutions and competent authorities in the assessment of significant risk transfer for securitisation transactions. These Guidelines will ensure harmonised assessment and treatment of significant risk transfer across all EU Member States. View Article

Regulation Asia: G-20 commitment to reform is in jeopardy
GFMA CEO Kenneth E Bentsen Jr writes that a commitment made in 2009 by leaders of the Group of 20 nations to improve financial regulation is at risk. View Article

The EBA published an Opinion on the macroprudential tools laid down in CRR/CRDIV
The Opinion assesses whether the current rules are effective, efficient and transparent View Article

Reuters: A capital markets union could be next in EU in-tray
Graham Bishop is quoted amongst policymakers saying that while the idea of a capital markets union is embryonic, it is seen as a logical step after the euro zone completes banking union. View Article

Financial News/FT: Clearing houses braced for ECJ hearing
London’s major clearing houses will be closely watching a key case in the European Court of Justice this week that threatens to force vast amounts of their business to be moved into the eurozone. View Article

Hedgeweek: Central clearing reduces systemic risk, says Eurex Clearing
Central clearing significantly reduces systemic risk and their amplifying factors in financial markets, according to a white paper by Eurex Clearing, the central counterparty (CCP) of Deutsche Börse Group. View Article

Risk.net: ESMA still unable to access US repository data
ESMA says it is still unable to access information held by US swap data repositories (SDRs) due to legal barriers in the Dodd-Frank Act. The restriction could limit its ability to monitor systemic risk and its capacity to gather data to define a liquid market under Europe's new trading rules. View Article

ESMA adds Keler CCP to the list of authorised CCPs under EMIR
The European Securities and Markets Authority (ESMA) updated its list of Central Counterparties (CCPs) that have been authorised to offer services and activities in the Union in accordance with the European Markets Infrastructure Regulation (EMIR). View Article

BCBS/ IOSCO: Survey on securitisation markets
The Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO) are co-leading a task force that will undertake a wide-ranging survey of securitisation markets worldwide. View Article

AFME: Response to The case for a better functioning securitisation market in the European Union
AFME welcomed the opportunity to respond to the discussion paper "The case for a better functioning securitisation market in the EU" published by the Bank of England and the ECB. View Article

International Capital Market Association's Quarterly Report Third Quarter 2014
The ICMA Quarterly Report outlines developments in the main areas : response to the financial crisis, sovereign bond markets, short-term markets, primary markets, secondary markets, asset management and market infrastructure. View Article

AMF: Public consultation on regulated markets and multilateral trading facilities
In the context of the implementation of the Banking Separation and Regulation Act (1), the AMF launched a public consultation on amendments to Book V of its General Regulation with a view to making markets more resilient. View Article

Risk.net: Irish regulator: put derivatives on TTIP agenda
The Central Bank of Ireland's markets director believes TTIP is the ideal forum to iron out differences over substituted compliance and establish agreement on monitoring and data collection systems. View Article

Insurance Europe: comment letter to the IASB Exposure Draft on the proposed amendments to IAS 1
Insurance Europe supports the general direction of the ED on the proposed amendments to IAS 1 Presentation of Financial Statements, as one of the first steps in the disclosure project. View Article

Risk.net: German life insurance reforms to deplete firms' capital
New German rules on the distribution of firms' underwriting surpluses will adversely affect the ability of insurers to accumulate capital, according to experts. View Article

EIOPA Chairman: Back to basics in consumer protection: a fair treatment
Gabriel Bernardino, EIOPA´s Chairman, gave a speech in Reykjavik that touched on the EIOPA priorities for consumer protection. View Article

The AMF publishes its 2014 mapping of risk and trends in the financial markets and savings
In mid-2014, the AMF provided a table of the main risks likely to affect the financial markets and main savings trends for households and collective investment. View Article

Hedgeweek: Confidence among asset managers will drive greater industry consolidation, says Moody’s
In the last several months there has been an uptick in global M&A activity, driven by improved valuations, increased risk appetites and renewed strategic ambitions. View Article

EFRAG: discussion paper on classification of claims and responses sought
EFRAG has published a Discussion Paper “Classification of Claims” to assist in developing an informed and reasoned approach to the claims side of the balance sheet, including the equity/liability distinction. Responses are sought from interested parties. View Article

FRC´s response to the IASB on proposed amendments to IAS 1
The FRC has published its comment letter to the IASB on the ED ‘Disclosure Initiative (Proposed amendments to IAS 1)’. The proposed amendments to IAS 1 provide useful clarification on the application of materiality to IFRS financial statements. View Article

This week in "Brussels"

10 July 2014

© Graham Bishop

Banking	Securities	Insurance
Asset Management	Corporate Governance/Accounting	About this email