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EU Council adopts BRRD
The EU Council has confirmed that it has adopted the Bank Recovery and Resolution Directive in the form published on 28 April 2014. This follows the adoption of the BRRD by the EU Parliament on 15 April 2014. It will enter into force once published in the OJ.
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ECB: Report on progress in the operational implementation of the SSM Regulation
In their second Quarterly Report to the European Parliament, the EU Council and the European Commission on progress in implementing the Regulation on the Single Supervisory Mechanism, the ECB covers the three months between 4 February and 3 May 2014.
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EBA publishes risk dashboard for EU banking sector
The EBA published the first risk dashboard for 2014 summarising the main risks and vulnerabilities in the banking sector in the EU, based on the evolution of Key Risk Indicators (KRI) from 55 banks across the EU in the fourth quarter of 2013.
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Risk.net: EIOPA tests insurers' resilience to sovereign stress
Experts say insurance company balance sheets will be hard hit in stress tests launched by European regulators in April. The inclusion of a sovereign debt crisis in the stress scenarios will have a particular impact.
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MarketsMedia: EU regulators to focus on asset management
Sharon Bowles, chair of the outgoing committee on economic and monetary affairs in the European Parliament, said the systemic risk from asset managers will be a heavy focus for regulators.
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IPE: The case for a European Pensions Union
The strengthening of European financial supervision raises questions about the sovereignty of national governments and the desirability of transferring powers to 'Brussels'. Pascal Borsjé and Hans Van Meerten argue that the pension issue does indeed require a European approach.
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Bloomberg News: Draghi's ABS plan seen helping banks, not business
Mario Draghi’s plan to spur growth by getting the ECB to buy asset-backed securities and persuade lenders to sell more of the bonds is being met with scepticism by the biggest money managers in Europe.
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Reuters: Regulators lack data to probe shadow banking sector
Shining a light on the murky $70 trillion world of "shadow banking" is proving tricky for regulators handicapped by too little data and under pressure to boost economic growth, and this means risks may be escaping proper scrutiny.
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ESMA/Maijoor: 'The reform of financial markets: halfway there'
ESMA's Chair, Steven Maijoor, spoke on the three main challenges he sees in the current phase of regulatory reform: Commitment to financial reform, its implementation and adequate supervision.
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Financial News: ESMA chair calls for funding revamp
ESMA's chairman, Steven Maijoor, called for an overhaul to the watchdog's "twisted and inappropriate funding system", including greater use of market-based fees and less reliance on contributions from national regulators.
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Finland deputy: Banking Union may 'exacerbate conflict' for national supervisors
Banking Union is envisaged to lessen the role that national interest plays in bank supervision, but Pentti Hakkarainenin warns of potential short-term setbacks.
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