Friends 'Weekly' Newsletter
11 February 2016
MREL, MiFID II, EMIR, Solvency II, AIMA, IFRS 9, anti-money laundering, Brexit, EU integration, Banking Union, Commission's Economic Forecast and more.
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Articles from 04 February 2016 - 11 February 2016 |
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Banking |
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EBA expresses dissent over EU Commission proposed amendments to the MREL technical standards
The EBA issued an Opinion to the EC expressing its dissent over some of its proposed amendments to the EBA final draft RTS on the criteria for setting the MREL and encouraging the prompt adoption of the standard. |
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Securities |
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Commission extends by one year the application date for the MiFID II package
The Commission has proposed a one year extension to the entry into application of the revised Markets in Financial Instruments Directive. |
ESMA updates its EMIR Q&A
The updated Q&A - on practical questions related to EMIR - includes new answers regarding CCP’s default management, competent authorities’ access to trade repository data and reporting of notional in position reports. |
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Insurance |
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The European Commission adopts Implementing Act on the risk-free rate under the Solvency II Directive
This Implementing Regulation lays down technical information to be used by insurance companies when calculating technical provisions and basic own funds for reporting with reference dates from 1 January until 30 March 2016. |
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Asset Management |
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AIMA publishes new guide to operational risk management
The AIMA Guide to sound practices for operational risk management focuses on a wide variety of risks that could result in loss from inadequate or failed internal processes, people and systems or from external events. |
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Corporate Governance/Accounting |
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EBA, Deloitte and FRC comment on IASB’s ED Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts
EBA, Deloitte and FRC published their comment letters to the IASB on the IASB’s ED/2015/11 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts. |
FEE: Endorsement of IFRS 9 Financial Instruments
The short FEE´s briefing paper provides additional answers to some of the questions asked by Members of the European Parliament of the ECON during recently held two public hearings on the IFRS broadly, and on IFRS 9 on financial instruments specifically. |
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Financial Services Policy |
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The BCBS expands its guidelines on anti-money laundering and countering terrorist financing with a "General guide to account opening"
The Basel Committee deems it worthwhile to issue this guide as an annex to the guidelines on the 'Sound management of risks' related to money laundering and financing of terrorism, which was first published in January 2014. |
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Political |
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EurActiv: EU’s founding members seek ‘more Europe’, even if it is smaller
The six founding members of the European Union reiterated their commitment to "ever closer union", even it means leaving less enthusiastic partners like Britain behind. |
Financial Times: British regulators yet to ask banks to assess Brexit impact
Seven of the biggest banks with operations in the UK told the FT they had not been asked for impact assessments or contingency plans on Brexit by the PRA or by any other regulator. |
IN Facts: Britain isn’t marginalised in EU
The pro-Europe group of editors dismantle each one of the four claims the Leave campaign has done about the UK having little to no influence in the EU. |
Reuters: Campaign for 'Brexit' takes 9-point lead
The campaign for Britain to leave the European Union has taken a nine-point lead over the rival 'in' campaign, according to a YouGov poll taken since Prime Minister David Cameron set out his proposals to keep the country in the bloc. |
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Financial |
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Bruegel: Should the ‘outs’ join the European banking union?
This paper finds that the nine out countries could profit from joining banking union, because it would provide a stable arrangement for managing financial stability. |
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Economic |
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European Commission: Winter 2016 Economic Forecast
The European economy is now entering its fourth year of recovery and growth continues at a moderate rate, driven mainly by consumption. |
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Graham's tweets |
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Tag Cloud |
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© Graham Bishop
Banking