Friends 'Weekly' Newsletter
10 May 2018
Implementation in the EU of the Basel III framework, Euro area financial integration, CVA risk monitoring exercise, security of wholesale payments, TARGET Annual Report, CPMI and IOSCO report on implementing arrangements consistent with the PFMI, Temporary Eurobill Fund, customs union post-Brexit...
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Articles from 03 May 2018 - 10 May 2018 |
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Banking Union |
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EBA will support the Commission in the implementation of the Basel III framework in the EU
The EBA welcomed the European Commission's call for advice on the implementation in the EU of the Basel III framework, which was finalised in December 2017. In its call, the Commission is asking the EBA to prepare a comprehensive analysis to assess the potential impact of the different elements of the Basel reform on the EU banking sector and the wider economy. |
ECB: Euro area financial integration improves in 2017
Financial integration in the euro area resumed last year, the European Central Bank’s annual report on Financial Integration in Europe shows. The resumption of financial integration after the volatile year 2016 was pronounced in prices but not in quantities. |
EBA publishes results of its 2016 CVA risk monitoring exercise
EBA’s report assesses the impact on own funds requirements of the reintegration of the transactions currently exempted from the scope of the CVA risk charge. The results continue to show the materiality of CVA risks that are currently not capitalised due to the CRR exemptions. |
BIS: Central banks urge industry wide take-up of strategy to improve wholesale payments security
The Committee on Payments and Market Infrastructures (CPMI) urges stakeholders to pursue a common strategy to improve the security of wholesale payments that involve banks, financial market infrastructures and other financial institutions. |
ECB supports global strategy to improve security in wholesale payments
The European Central Bank endorses the common strategy on reducing the risk of wholesale payments fraud, as published by the Committee on Payments and Market Infrastructures (CPMI), the global standard-setter for payment, clearing, settlement and related arrangements. |
ECB: TARGET Annual Report 2017
As in previous years, the report presents the main facts relating to the TARGET system, taking into account the developments which took place in TARGET2 in the course of 2017. The report is mainly addressed to decision-makers, practitioners, lawyers and academics wishing to acquire an in-depth understanding of TARGET2. |
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Capital Markets Union |
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BIS: Despite ongoing progress, some central counterparties still lag on risk management and recovery planning
Overall, while the CPMI and IOSCO report found that participating CCPs have made progress in implementing arrangements consistent with the PFMI, some CCPs are still failing to implement a number of measures in the areas of risk management and recovery planning. |
ESAs consult on amendments to joint EMIR standards
ESAs launched two joint consultations to amend Regulatory Technical Standards on the clearing obligation and risk mitigation techniques for OTC derivatives not cleared. |
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Asset Management |
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ECMI: More fundamental changes in sight for the asset management industry
Asset managers face new regulatory and supervisory pressures, which may fundamentally affect their business models. The views are crystallising across different jurisdictions: price competition is weak in many areas, permitting companies to sustain high profits at the expense of a lack of clarity over fees and performance. |
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Friends Services |
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Temporary Eurobill Fund (TEF): 30 FAQs
The Temporary Eurobill Fund offers a modest, technical but concrete step that can be expanded progressively into a financial, economic and political structure if circumstances develop propitiously. This author has developed the TEF plan over several years – now comprehensively updated. |
A bespoke services deal with EU 27: fantasy or reality?
Graham Bishop writes that a bespoke deal for financial services that gives a special mutual recognition with the UK – or even equivalence – is an unrealistic expectation. |
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Economic |
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IB Times: EU predicts bright outlook for economy, tougher times for UK heading for Brexit
Economic growth across the European Union will remain robust this year and next, particularly when compared with Britain, which is set to leave the bloc in less than a year, the EU's executive branch said. |
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Brexit & UK |
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The Guardian: Brexit plan drawn up for border checks between NI and rest of UK
A backup plan to impose border checks on trade between Northern Ireland and the rest of the UK at ports and airports to avoid a hard border with the Republic of Ireland after Brexit has been drafted by senior civil servants. |
House of Lords' EU Justice Sub-Committee: Committee publishes report on dispute resolution and enforcement post Brexit
The EU Justice Sub-Committee calls on the Government to propose an effective system for dispute resolution and enforcement in respect of both the proposed withdrawal agreement and the future UK-EU relationship in its report 'Dispute resolution and enforcement after Brexit'. |
The Guardian: Theresa May forced to give MPs single market vote after shock defeat
MPs will have a vote on remaining in the European Economic Area – effectively a vote on the single market – after a shock defeat for the government in the Lords. |
The Guardian: Brexit: jobs at risk without frictionless trade, warns Greg Clark
Tory Brexit moderates and business groups have made a last-ditch attempt to push for Theresa May’s preferred customs plan, with the business secretary warning that thousands of jobs would be at risk unless there is frictionless trade. |
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Graham's tweets |
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Tag Cloud |
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© Graham Bishop
Banking Union