Friends 'Weekly' Newsletter
25 January 2018
Banking Union, non-performing loans, MiFID II, ESAs Review, pan-European constituency post Brexit, Economic and Financial Affairs Council, post-Brexit City deal, second EU referendum, future EU budget and more.
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Articles from 18 January 2018 - 25 January 2018 |
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Banking Union |
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European Commission: Banking Union: First Progress Report on the tackling of non-performing loans to support the risk-reduction agenda
The Commission has welcomed the headway made in tackling non-performing loans (NPLs) in the EU as part of ongoing work at the national and EU level to reduce remaining risks in parts of the European banking sector. |
Bruegel: Risk reduction through Europe’s distressed debt market
The resolution of non-performing loans is central to the recovery of Europe’s banking sector and the restructuring of the excess debt owed by private sector borrowers. Could the development of distressed debt markets be a new element of capital market deepening in Europe?, wonders Alexander Lehmann. |
Financial Times: The banking reform that can help unite the EU
The risk sharers and the risk reducers in Europe might seem diametrically opposed. They are not, and the two approaches can be synthesised. The key to unlocking a solution is, as prosaic as it may sound, a common deposit insurance scheme, in the FT's view. |
BIS: New report assesses structural change in global banking
Bank profitability has fallen from pre-crisis peaks but banks have become more resilient to risks, finds a new by the Committee on the Global Financial System (CGFS). |
EBA to launch the 2018 EU-wide stress test on 31 January 2018
The European Banking Authority will formally launch the 2018 EU-wide stress test on 31 January 2018 at 5pm UK time. |
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Capital Markets Union |
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Financial Times: MiFID II caution hits small business research
Small companies and their brokers are increasingly concerned about fund managers who are overcautious with regard to MiFID II. |
ESMA updates transparency calculations for MiFID II/MiFIR
ESMA published an extended version of the MiFID II/MiFIR transitional transparency calculations for equity and bond instruments, adding further instruments. |
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Financial Services Policy |
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ICMA AMIC responds to publication of the ESAs Review
ICMA’s Asset Management and Investors Council has published its response to the publication of the proposals to review the European Supervisory Authorities and the European Systemic Risk Board. |
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Political |
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EU elections 2019: MEPs pave way for pan-European constituency post Brexit
The European Parliament should shrink from 751 to 705 MEPs when the UK leaves the EU, to make room for EU-wide electoral lists, say Constitutional Affairs MEPs. |
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Economic |
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Main results of the Economic and Financial Affairs Council
The Council revised the EU's list of non-cooperative jurisdictions in taxation matters, and discussed non-performing loans and the programme of the Bulgarian presidency. |
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Brexit & UK |
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CER: Holding out hope for a half-way Brexit house
The UK is considering 'managed divergence' from EU rules, which the 27 will reject. A better strategy would be to remain in the customs union and single market for goods, write John Springford and Sam Lowe. |
Andrew Duff : Brexit: What if Britain changes its mind?
Andrew Duff's paper assesses the terms and conditions that would apply to the UK's renewed membership in case it decides to halt Brexit. |
The Guardian: Macron rebuffs post-Brexit City deal unless UK pays into EU budget
French president Emmanuel Macron has rejected the idea of a tailored Brexit deal for the City, insisting Britain will not be allowed full access to European Union markets, including financial services, unless it pays into the EU budget and accepts all its rules. |
UK in a Changing Europe: The Brexit-sized hole in the future EU budget
Following Brexit, the loss of UK contributions will therefore likely require either a reduction in overall spending, or for the remaining member states to pay more into the budget. Iain Begg explains the impact this shortfall might have. |
CER: Of transition and trade deals
The UK will not be able to replicate the EU’s free trade agreements ready for March 30th 2019. The only solution is to ask the EU for help, writes Sam Lowe. |
Financial Times: On the City of London and Brexit, silence is not golden
In the FT's view, the UK government needs to state its priorities for trade in services. |
AFME - Brexit: Key cliff edge risks in wholesale financial services
AFME's paper highlighting some of the potential cliff edge risks that Brexit could create for market efficiency and financial stability. |
Financial Times: Asset managers fear delegation changes post-Brexit
The industry is fretting over the loss of talent to rival financial hubs, London’s diminished appeal as a European gateway for non-EU investors and lower inward investment as foreign companies abandon or delay spending plans due to Brexit uncertainty. |
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Graham's tweets |
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Tag Cloud |
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© Graham Bishop
Banking Union