Friends 'Weekly' Newsletter
16 February 2017
EBA guidelines on PD estimation, LGD estimation and treatment of defaulted assets, consolidated banking data, MiFID II, IFRS 16 Leases, CETA, Brexit, CMU and more.
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Articles from 09 February 2017 - 16 February 2017 |
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Banking |
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EBF response to EBA consultation on Guidelines on PD estimation, LGD estimation and the treatment of defaulted exposures
The European Banking Federation (EBF) supports the technically sound and well-informed approach that the EBA is following. The use of models is central to the risk management practices and it deserves an in-depth review like the one proposed in these series of EBA guidelines. |
AFME: Consultation response draft EBA guidelines on PD estimation, LGD estimation and treatment of defaulted assets
The Association for Financial Markets in Europe (AFME) is very supportive of the EBA’s IRB repair programme. AFME notes that the objective of the EBA Guidelines is to provide rules that will lead to comparability of model outcomes. The industry supports and agrees with this objective. |
ECB publishes Consolidated banking data for end-September 2016
The European Central Bank (ECB) has published the end-September 2016 Consolidated banking data (CBD), a data set of the European Union (EU) banking system on a group consolidated basis. |
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Securities |
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ESMA revises MiFID standard on position reporting
ESMA published a revision of its draft Implementing Technical Standards on position reporting under the Markets in Financial Instruments Directive. |
ESMA letter to the Commission on MiFID II systematic internalisers operating broker crossing networks
ESMA has written to the European Commission to raise its concern over the potential establishment of networks of systematic internalisers by investment firms to circumvent certain MIFID II obligations. |
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Asset Management |
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Insurance Europe: Policymakers must act now to address EU pension gap
Europe faces an unprecedented challenge, as fewer workers and more retirees put a huge and growing strain on state pension systems. Policymakers must make pension systems more sustainable, encourage people to save more and remove regulatory barriers to avoid harming long-term investment. |
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Corporate Governance/Accounting |
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EFRAG requests comments on its Draft Endorsement Advice on IFRS 16 Leases
EFRAG has issued its Draft Endorsement Advice on IFRS 16 Leases and seeks the views of constituents, in particular on its preliminary assessment of whether endorsing IFRS 16 would be conducive to the European Public Good. |
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Financial Services Policy |
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Financial services: Agreement on the involvement of consumers in policymaking
Representatives of the Council and the European Parliament reached agreement on a programme to promote the involvement of consumers in policy-making in financial services. |
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International/G20 |
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CETA: MEPs back EU-Canada trade agreement
The EU-Canada Comprehensive Economic and Trade Agreement (CETA), which aims to boost goods and services trade and investment flows, was approved by the European Parliament. The landmark trade deal could apply provisionally from as early as April 2017. |
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Friends Services |
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127th Brussels for Breakfast – Notes
The 'Brussels for Breakfast' debate tackled the most relevant issues this month in the EU, such as the UK Government's 'Brexit White Paper; the IRSG report calling for a new, bespoke UK-EU deal; capital requirements under IFRS9 and the need to move on with the completion of CMU. |
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Political |
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Brexit transitional deal will lock UK into EU court, says Verhofstadt
Britain will remain under the jurisdiction of the European court of justice for years to come if it seeks a transition deal to cushion its withdrawal from the EU, the chief negotiator for the European parliament has said. |
BBC: Germany warns the City over Brexit risk
The Bundesbank's Dombret has warned London that it is likely to lose its role as "the gateway to Europe" for vital financial services. |
City AM: "Our aim certainly is not to punish the UK," insists Brussels' financial services commissioner
Valdis Dombrovskis expects the City continuing to be a substantial financial centre and said EU and UK officials must "work towards a solution which eventually works for all." |
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Financial |
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Financial Times: How a post-Brexit redesign can save the capital markets union
A physical splintering of capital markets is under way — with adverse implications for cost and efficiency. Moreover, each jurisdiction receiving a financial institution currently has its own capital markets regulator, and its own interpretation and application of the rules. |
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Economic |
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New Europe: The wake of Brexit paints a grey picture over the British economy’s future, while the EU’s forecast is of better fate
“Economic growth is projected to moderate in 2017 and weaken further in 2018,” according the the EU executive arm’s winter economic forecast. This period coincides with the UK’s negotiation with the remaining 27 member states of the EU over Brexit. |
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Graham's tweets |
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Tag Cloud |
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© Graham Bishop
Banking