Friends 'Weekly' Newsletter

15 March 2018

Commission's measures to reduce NPLs, non-performing exposures, Basel III implementation assessments, Capital Markets Union, Mifid II, EP recommends association agreement post-Brexit, Gibraltar, EU’s plan to shift clearing out of London, cost of Brexit and more.

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  Articles from 08 March 2018 - 15 March 2018

  Banking Union
 
 
Reducing risk in the Banking Union: Commission presents measures to accelerate the reduction of non-performing loans in the banking sector
The European Commission is proposing an ambitious and comprehensive package of measures to tackle non-performing loans in Europe, capitalising on the significant progress already made in reducing risks in the banking sector.
EBA advises European Commission on the use of prudential backstops to prevent the building up of new NPLs
The EBA notes that the backstop complements the existing prudential set of measures and the new accounting provisions under IFRS9 and the advice aims at providing some qualitative considerations as well as a conservative impact analysis of the proposed measures.
The EBA launches consultation on how to manage non-performing exposures
The EBA launched a consultation on its Guidelines for credit institutions on how to effectively manage non-performing exposures (NPEs) and forborne exposures (FBEs). The Guidelines target high NPE banks with the aim of achieving a sustainable reduction of NPEs to strengthen the resilience of their balance sheets and support lending into the real economy.
Basel Committee publishes follow-up reports on Basel III implementation assessments and an updated handbook for jurisdictional assessments
The Basel Committee on Banking Supervision has published overviews of follow-up actions taken or planned by member jurisdictions as of end-2017 to address deviations from the Basel standards that were identified as part of the Committee's Regulatory Consistency Assessment Programme (RCAP). This covers assessments that were completed and published as of end-2016.
 
  Capital Markets Union
 
 
Capital Markets Union: breaking down barriers to cross-border investments and accelerating delivery
The European Commission is taking a major step towards the development of a Capital Markets Union by promoting alternative sources of financing and removing barriers to cross-border investments.
Opening remarks by Vice-President Dombrovskis on the Capital Markets Union
Mr Dombrovskis spoke about the Capital Markets Union project and the need to accelerate its implementation, so European consumers, investors, and companies can benefit from deeper and more integrated capital markets.
 
  Asset Management
 
 
EFAMA warns a legislative proposal at this stage can act as an additional barrier rather than facilitating cross border fund distribution
The Commission is proposing changes that include both the AIFM and UCITS Directives, which are the main pillars of the legislative framework for investment funds.
 
  Friends Services
 
 
Brexit ‘hard facts’ might become insurmountable facts in Ireland - 139th Brussels for Breakfast – CPD Notes
A furious storm is brewing up over a hard border between Northern Ireland and the rest of the island which threatens not only the terms of the Good Friday Agreement, but also to put an end to Brexiteers’ dreams of an 'unshackled' UK after Brexit.
 
  Brexit & UK
 
 
Brexit: EP recommends association agreement for future EU-UK relations
Taking into account red lines announced by the UK government, an association agreement between the EU and the UK could provide an appropriate framework for their future relationship, says the resolution adopted by an absolute majority of MEPs.
Financial Times: Barnier: UK yet to face up to ‘hard facts’ of Brexit
Michel Barnier, the EU’s Brexit negotiator has warned that the UK has yet to face up to the “hard facts” of Brexit, as he underlined that Brussels will not grant “à la carte” access to the single market.
Remarks by President Donald Tusk after his meeting with Taoiseach Leo Varadkar
The Council President reminded the UK that avoiding a hard border in Ireland remains a "matter between the EU27 and UK, not Ireland and the UK," and that financial services cannot be included in a future FTA with Britain.
Financial Times: The EU’s plan to shift clearing out of London risks disaster
Splitting supervision of euro clearing between Esma, the ECB and states among ESMA, national authorities after Brexit threatens stability, writes CEPS' Karel Lanoo.
 

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