This week in "Brussels"
20 July 2017
IFRS 9, ECAIs, credit institutions, MiFID II, short-selling regulation, relocations from the UK and more.
|
|
Jump directly to |
 |
 |
|
|
Articles from 13 July 2017 - 20 July 2017 |
|
|
Banking |
|
|
|
|
|
|
EBA updates on the impact of IFRS 9 on banks across the EU and highlights current implementation issues
The exercise has confirmed the EBA's initial observations on the stage of preparation for the implementation of IFRS 9 and the estimated impact of IFRS 9 on regulatory own funds. View Article |
EBA consults on guidelines on uniform disclosure of IFRS 9 transitional arrangements
The Guidelines aim at increasing consistency and comparability of the information disclosed by institutions during the transition to the full implementation of the new accounting standard, and at ensuring market discipline. View Article |
EBA outlines roadmap to strengthen the monitoring of ECAIs
Besides its ongoing work on mapping, the EBA plans to strengthen the monitoring and quality of such mapping used for the determination of capital requirements, which may be calculated based on the relevant credit assessments produced by the current 25 credit rating agencies. View Article |
EBA amends Decision on the quality of unsolicited credit assessments of certain ECAIs for the assignment of risk weights
The revised Decision, which reflects the recognition of five additional ECAIs and the de-registering of one ECAI, is part of the Single Rulebook in banking and will ensure regulatory harmonisation across the EU regarding the use of unsolicited credit ratings for determining institutions' own funds requirements. View Article |
ESAs consult on amendments to technical standards on the mapping of ECAIs
The Joint Committee of the ESAs launched a public consultation to amend the Implementing Regulations on the mapping of credit assessments of ECAIs for credit risk to reflect the recognition of five new CRAs and the deregistration of one CRA. View Article |
EBA publishes final standards specifying information requirements for the authorisation of credit institutions
The European Banking Authority (EBA) published its final draft RTS on the information applicants shall provide to competent authorities when applying for authorisation as credit institutions, and its final draft ITS related to the templates to be used for the provision of such information. View Article |
BIS international banking statistics at end-March 2017
The Bank for International Settlements released international banking statistics for the quarter ending in March 2017. View Article |
ECB: Results of the July 2017 euro area bank lending survey
Credit standards for loans to enterprises eased slightly in net terms in the second quarter of 2017. The net easing (-3%) of credit standards – i.e. banks’ internal guidelines or loan approval criteria – followed a net easing of -2% in the previous quarter. View Article |
European Payments Council: SEPA Instant Credit Transfer scheme inter-bank implementation guidelines 2017 version 1.1
These Implementation Guidelines set out the SEPA rules for implementing the interbank ‘instant’ ISO 20022 XML message standards based on version 1.0 of the 2017 SEPA Instant Credit Transfer (SCT Inst) rulebook. View Article |
Bank of England extends direct access to RTGS accounts to non-bank payment service providers
The Bank of England is announcing that a new generation of non-bank payment service providers is now eligible to apply for a settlement account in the Bank’s RTGS system. View Article |
City A. M.: The London Stock Exchange Group has started using blockchain technology
London Stock Exchange Group will use blockchain technology to help unlisted businesses make shareholding information more transparent. View Article |
|
|
|
|
|
Securities |
|
|
|
|
|
|
ESMA consults on certain aspects of the MiFID II suitability requirements
ESMA published a Consultation Paper on draft guidelines on certain aspects of the suitability requirements under the Markets in Financial Instruments Directive. View Article |
Bloomberg: Hedge funds see MiFID win in EU warning to trading platforms
ESMA published the guidance to help the European Union’s overhaul of trading rules known as MiFID II live up to its promise of making markets more open, competitive and transparent. View Article |
ESMA consults on the evaluation of the short-selling regulation
ESMA issued a public consultation regarding its future technical advice to the European Commission on the Short-Selling Regulation. View Article |
|
|
|
|
|
Insurance |
|
|
|
|
|
|
FSB welcomes new insurance accounting standard
On 18 May, the IASB issued IFRS 17, setting out a single, consistent approach to the accounting for insurance contracts. The FSB welcomes the final publication of this standard, which was identified as a high priority at the FSB Plenary meeting of 25 September 2015. View Article |
Commercial Risk Europe: US to sign covered agreement with EU on insurance and reinsurance
The US Department of the Treasury and the Office of the US Trade Representative have announced their intention to sign the bilateral agreement between the US and the EU on Prudential Measures Regarding Insurance and Reinsurance. View Article |
|
|
|
|
|
Asset Management |
|
|
|
|
|
|
EFAMA and AMIC publish joint report on the use of leverage in investment funds in Europe
The paper analyses how and why leverage is used in investment funds in Europe, how firms address in practice related risks and the technical tools used to measure leverage and improve the efficient management of their portfolio. View Article |
AIMA publishes guide to fund administration
The Alternative Investment Management Association has published a guide for alternative investment managers to use when choosing a fund administrator. The guide also provides guidance on how managers should periodically assess their existing administrators. View Article |
|
|
|
|
|
Corporate Governance/Accounting |
|
|
|
|
|
|
ESMA recommends improvements in financial information enforcement
ESMA has published the results of a peer review conducted into how national competent authorities (NCAs) supervise financial information (IFRS) according to the Guidelines on Enforcement of Financial Information (Guidelines). View Article |
|
|
|
|
|
Financial Services Policy |
|
|
|
|
|
|
ESMA issues sector-specific principles on relocations from the UK to the EU27
ESMA published three Opinions setting out sector-specific principles in the areas of investment firms, investment management and secondary markets, aimed at fostering consistency in authorisation, supervision and enforcement related to the relocation of entities and functions from the UK. View Article |
ECIIA: Internal auditors can strengthen fight against financial crime
The EU’s fourth anti-money laundering directive, which came into effect at the end of June, outlines a greater role for internal audit in fighting financial crime, says ECIIA. View Article |
|
|
|
|
|
Grahams Articles, Comments & Speeches |
|
|
|
|
|
|
No ‘strong and stable’ leadership in the first rounds of Brexit talks
The talks over the disconnection of the UK from the EU begun and the picture of the meeting showed a clear imbalance: Michel Barnier boasted about EU27 unity and brought a stack of papers; David Davis wasn’t carrying any documents, but growing political dissent at home could be heard from Brussels. View Article |
|
|
|
|
|
Friends Services |
|
|
|
|
|
|
No ‘strong and stable’ leadership in the first rounds of Brexit talks
The talks over the disconnection of the UK from the EU begun and the picture of the meeting showed a clear imbalance: Michel Barnier boasted about EU27 unity and brought a stack of papers; David Davis wasn’t carrying any documents, but growing political dissent at home could be heard from Brussels. View Article |
|
|
|
|
|
Economic |
|
|
|
|
|
|
VoxEU: Completing EMU
This column discusses the ideas presented in a new Commission Reflection Paper aimed at relaunching the debate on how to move forward, with a focus on bridging the differences between the member states that stress responsibility and risk reduction and those calling for solidarity and risk sharing. View Article |
|
|
|
|
|
Graham's tweets |
|
|
© Graham Bishop
Banking