Friends 'Weekly' Newsletter
21 January 2016
EBF, Basel III, ECB, BCBS, FEE, Brexit, a new eurozone treaty, ECON, ECOFIN, Single Market, corporate taxation and more.
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Articles from 14 January 2016 - 21 January 2016 |
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Banking |
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EBF Response to EBA consultation on RTS on criteria for a preferential treatment in cross-border intragroup financial support under LCR
Despite advances of the single market and single rulebook in the EU and Banking Union, banking groups with an EU parent institution still have to suffer an additional burden regarding their intragroup liquidity facilities compared to institutions operating only within a single national jurisdiction. |
Financial Times: Basel rules to cost banks €40m-€120m each, says study
Global banks will have to spend between €40m and €120m each to implement global regulators’ latest rules on trading book capital, a new study from consultants Oliver Wyman claims. |
Reuters: ECB plans to order banks to tackle bad loans, sources say
The ECB plans to tell euro zone banks how to better manage bad loans, banking officials said, in an effort to resolve an issue that is curbing the region's economic recovery. |
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Securities |
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BCBS: Minimum capital requirements for market risk
The purpose of the revised market risk framework is to ensure that the standardised and internal model approaches to market risk deliver credible capital outcomes and promote consistent implementation of the standards across jurisdictions. |
GFMA, IIF and ISDA statement on the Fundamental Review of the Trading Book Framework issued by the BCBS
The three associations are concerned that the rules may have a negative effect on banks’ capital markets activities and reduce market liquidity. |
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Corporate Governance/Accounting |
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FEE: The impact of the audit reform on audit committees in Europe
FEE briefing paper highlights the developing role of the audit committees in Europe and provides an overview of the related changes to corporate governance best practice. The paper also provides for a number of FEE recommendations. |
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Financial Services Policy |
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ECON: Report on stocktaking and challenges of the EU Financial Services Regulation
Impact and the way forward towards a more efficient and effective EU framework for Financial Regulation and a Capital Markets Union. |
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Political |
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Financial Times: UK benefit reform demands appeal to rest of EU
Britain’s contentious push to curb EU migrant benefits is gaining political traction in Europe, with expectations of a February deal rising and countries such as France and Germany considering whether to introduce their own variants of the reforms David Cameron seeks. |
Paul Goldschmidt: “Brexit” - The E.U. and the U.K. are both making hazardous bets!
The British are deliberately ignoring the recent major political developments that are shaking Europe and that demand more European Union rather than less. On the other side, the EU, fully aware that maintaining the UK in the fold is by far preferable, is tempted to offer excessive concessions. |
Bloomberg: Chairmen of BT and Barclays Say ‘Brexit’ Talk Damages Britain
Britain’s financial industry will be damaged if the country votes to leave the European Union, and the “Brexit” debate has already cost the U.K. some foreign investment, according to two of the nation’s most senior corporate directors. |
EurActiv/EPC: The Frankfurt Protocol: Calling for a new treaty for the eurozone
Faced with a series of unprecedented difficulties, the EU has little choice but to move forward swiftly to the next stage of integration. The way to do that is through treaty change, argues Andrew Duff in his latest pamphlet 'The Frankfurt Protocol'. |
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Economic |
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Remarks by European Parliament Vice-President Dombrovskis at the ECOFIN press conference
EP's Dombrovskis outlined the main issues discussed at ECOFIN meeting, such as the European Semester; the deepening of EMU and therefore completing Banking Union with measures such as implementing SRF, DGS, BRRD, and EDIS; and VAT fraud. |
CEPS: What strategy for a genuine single market?
This strategy paper focuses on making the most of the EU single market. The strategy is based on a clear design of the genuine single market and subsequently concentrates on ‘what it takes’ with ten types of actions. |
Illegal corporate tax deals: European Parliament calls for compensation for countries that suffer
If the European Commission decides that an EU member state should recover money from a company due to infringements of tax-related state aid rules, this money should be returned not to the same member state, but to member states that have suffered an erosion of their tax bases or to the EU budget. |
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Graham's tweets |
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Tag Cloud |
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© Graham Bishop
Banking