Friends 'Weekly' Newsletter
30 November 2017
Non-performing loans, Bank of England's Financial stability report, MiFID II, Brexit, breakthrough offer on Brexit bill and more.
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Articles from 23 November 2017 - 30 November 2017 |
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Banking Union |
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ECB: Overcoming non-performing loan market failures with transaction platforms
Transaction platforms can help deal with Europe’s high stock of non-performing loans, a special feature of the upcoming Financial Stability Review finds. But this would also require structural changes aimed at expanding the investor base. |
EBA sees a more resilient EU banking sector but challenges in NPLs, IT security and long-term profitability remain
The European Banking Authority published its tenth report on risks and vulnerabilities in the EU banking sector. The report is accompanied by the 2017 EU-wide transparency exercise, which provides key data in a comparable and accessible format for 132 banks across the EU. |
Bank of England: Financial stability report, November 2017
The 2017 stress test shows the UK banking system is resilient to deep simultaneous recessions in the UK and global economies, large falls in asset prices and a separate stress of misconduct costs. |
EBA formally repeals its Guidelines on retail deposits subject to different outflows for the purpose of liquidity reporting
EBA repealed its Guidelines on retail deposits subject as they have been superseded by the LCR Delegated Regulation. |
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Capital Markets Union |
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ESMA publishes MiFID compliance function peer review results
The Review found a high level of compliance by the majority of EEA national competent authorities with the Guidelines, although significant weaknesses were identified in the supervisory approaches of Cyprus, Iceland and the Netherlands. |
POLITICO: ESMA letter reveals MiFID II concerns related to Brexit
The EU’s markets watchdog has written to the European Commission to warn on the effectiveness of new trading and transparency rules for firms outside the bloc. This is a particularly pertinent issue due to Brexit. |
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Insurance |
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Commercial Risk Europe: EIOPA to focus on enhancing supervisory convergence
The European Insurance and Occupational Pensions Authority announced that in the next three years, one of its key priorities is to further enhance supervisory convergence, with the aim to move towards a common European supervisory culture. |
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Economic |
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ECB: Economic growth is supporting financial stability but markets are vulnerable to a sudden increase in volatility
Systemic stress indicators for the euro area have remained low over the past six months, according to the latest Financial Stability Review of the ECB. Better growth prospects as well as lower fiscal and external imbalances contributed to reduced systemic stress indicators for the euro area, according to the report. |
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Brexit & UK |
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Financial Times: OECD predicts weak economic growth for UK due to Brexit
The Organisation for Economic Cooperation and Development issued a forecast for weak economic growth in the UK over the next two years that is worse than a much reduced estimate published last week by Britain’s fiscal watchdog. |
Financial Times: UK bows to EU demands with breakthrough offer on Brexit bill
According to several diplomats familiar with the talks, the UK would assume EU liabilities worth up to €100bn although net payments, discharged over many decades, could fall to less than half that amount. |
Financial Times: European banks slash UK-related assets by €350bn after Brexit vo
European banks have slashed their exposure to the UK since it voted to leave the European Union, removing €350bn of UK-related assets from their balance sheets in just 12 months. |
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Graham's tweets |
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© Graham Bishop
Banking Union