Friends 'Weekly' Newsletter
26 March 2015
ECB, BBA, ESMA's 2015 Regulatory Work Programme, Tabb Forum, IPOs, CMU, IASB, Greece, ECON, tax competition, EU budget and more.
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Articles from 19 March 2015 - 26 March 2015 |
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Banking |
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Reuters: ECB taking closer look at savings and coop banks
The ECB is looking closer at cooperative and public sector banks in Germany and other countries, after taking over supervision of Europe's biggest lenders last year, cooperative bank trade body BVR said March 24. |
BBA: Digital Disruption: Prudent regulation is required for banks’ digital challengers
Do you think we actually need banks? Bill Gates, the world’s richest man, who knows a bit about money, thinks not. “We need banking but we don’t need banks anymore” he said recently, talking about the revolution in digital technologies that can offer banking services. |
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Securities |
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ESMA published the 2015 Regulatory Work Programme
The RWP has been revised in light of the budget constraints that ESMA will operate under in 2015, as a result of which the deadlines associated with some guidelines have been delayed. |
Tabb Forum: The need for equivalence in European and US clearing rules
ESMA has not yet judged the US standards to be equivalent to its own. As a result, the cost of clearing at US institutions for European banks could be cripplingly expensive. |
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Asset Management |
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European Issuers: Unlocking IPOs central to delivering a Capital Markets Union
Philippe de Backer: “The European IPO markets need to work better for the real economy." |
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Corporate Governance/Accounting |
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IASB/Investor Perspective: 'Helping investors better understand cash flow'
Investors Nick Anderson, Gunnar Miller and Tanya Branwhite discussed the merits of the proposed amendments to IAS 7 Statement of Cash Flows to provide more information about changes in debt. |
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Political |
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European Parliament: Greece should resume policy dialogue and agree on reforms, Draghi tells MEPs
The European Central Bank’s expanded asset purchase programme, better known as “quantitative easing” (QE), is starting to make headway across the EU, ECB President Mario Draghi told Economic and Monetary Committee MEPs on 23 March. |
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Financial |
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Reuters: EU lawmakers to discuss accelerating capital markets union
The European Union's plans for a capital markets union to boost financing for companies should be accelerated and completed two years earlier than proposed, a draft parliamentary motion seen by Reuters said. |
European Commission: Structured Dialogue - ECON
Jonathan Hill reports on progress made in implementing his priorities. He discussed financial reforms, banking union, CMU and the single market, among other topics. |
House of Lords: Capital Markets Union - a welcome start
The report supports the Commission’s proposals, saying that a Capital Markets Union is a timely and important initiative, but the Committee warns that it must be rolled out carefully, with the protection of investors’ money at its heart. It includes quotes from Graham Bishop. |
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Economic |
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European Parliament: Tax competition should be fair and transparent
Tackling tax evasion should be a top EU priority. EU countries and the European Commission should play a leading role in discussing how to fight tax fraud and aggressive tax planning in the OECD and other relevant fora, says Parliament in its resolution on tax, voted on March 25. |
Investment plan: EESC welcomes 75 million euros for SMEs as a good start
At the EESC plenary session on 19 March Jyrki Katainen announced that the money would be made available in late April 2015 under the new European Fund for Strategic Investment. |
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Budgetary |
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EU budget management: Commission and Parliament spending for 2013 approved
The European Commission managed its 2013 EU budget funds according to the rules, so Parliament should grant it a “discharge” (approval) for that year, said the Budgetary Control Committee on March 24. |
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Graham's tweets |
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Tag Cloud |
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© Graham Bishop
Banking