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Save the date for next Brussels for Breakfast! 18th September 2019
Articles from 06 September 2019 - 12 September 2019
Banking Union
Banking in Europe: EBF publishes 2019 Facts & Figures : The EBF has published Banking in Europe; the 2019 Facts & Figures, its annual update on the banking sector in Europe. The publication shows that the European banking sector, both as measured in terms of staff numbers and branches, continued to contract as the industry continued to improve efficiency while attempting to bolster its profitability. View Article
SUERF: Controlling CBDC through tiered remuneration : This paper discusses two concerns that central bankers have associated with CBDC, namely risk of structural disintermediation of banks and centralization of the credit allocation process within the central bank and risk of facilitating systemic runs on banks in crisis situations. View Article
Capital Markets Union
ESMA – Investors face increasing risks amid renewed market volatility : The report identifies a deteriorating outlook for the asset management industry and continued very high market risk. Recent trade tensions have triggered renewed volatility, and concerns over a no-deal Brexit remain key risk drivers for the second half of 2019. View Article
IMF - A Capital Market Union for Europe: Why it’s needed and how to get there : The authors claim that larger intra-EU portfolio flows would help move the EU toward realizing its full economic potential. The relatively technical steps that are recommended for removing identified barriers to such flows should be feasible without high-level political deliberations. View Article
Environmental, Social, Governance (ESG)
European Commission: The EU continues to lead the global fight against climate change : The Commission adopted a Communication reaffirming the EU's commitment to accelerated climate ambition. View Article
AFME says potential for green securitisation is huge : AFME published a new paper outlining the key factors needed to boost the growth of a green securitisation market in Europe. View Article
PIIE: Libra's challenge to regulators: Innovate! : Financial authorities in China, Europe, and the United States have reacted to Libra by vowing to protect the stability of the monetary and financial system. Now regulators must do more to shape the dramatic changes in financial systems of the future portended by Libra and rival cryptocurrencies. View Article
Graham's Articles
The Huge Opportunity for “Remain” : 150-200 Seat Majority: the Message from 100 Years of First-Past-the-Post Elections. View Article
Brexit
Financial Times: £9bn pulled from UK company funds since Brexit vote : Much of continental Europe is hardening its attitude to Brexit in light of the power struggle in London between Prime Minister Boris Johnson’s Conservative government and its parliamentary opponents. View Article
The Guardian: UK recession fears recede after surprise economic growth : The risks of the UK sliding into its first recession in a decade have receded after a stronger-than-expected and across-the-board 0.3% increase in activity in July. View Article
Financial Times: EU warns Johnson plan on rules divergence will hinder trade talks : Boris Johnson’s plans to diverge from EU rules after Brexit will reduce the bloc’s willingness to strike an ambitious trade deal with the UK, officials and diplomats in Brussels have warned. View Article
POLITICO: UK offers Brexit mini deals to side-step Brussels : The UK government is trying to bypass Brexit negotiations with the European Commission by proposing so-called mini deals to national capitals directly, diplomats say. View Article
Bloomberg: Investors pull $1.5 billion from UK equities as Brexit bites : Savers jettisoned 1.2 billion pounds from UK equity funds in July, when Prime Minister Boris Johnson took power, according to figures published by the Investment Association, which represents fund managers. The withdrawals accelerated after outflows of 744 million pounds in June. View Article
Financial Times: No-deal Brexit would push UK into recession, warns KPMG : A no-deal Brexit would have a significant short-term economic impact on the UK, plunging the country into recession, causing a rise in unemployment and prompting an estimated 6 per cent slide in house prices, according to a report from global accountancy firm KPMG. View Article
Financial Times: FT poll shows voters prefer Johnson to Corbyn : Boris Johnson is seen as a better choice of prime minister by almost twice as many voters as his rival, Jeremy Corbyn, according to a new poll for the Financial Times. View Article
Financial Times: Investors regain interest in UK equity funds : Investors have put money into UK equities for the first time in almost three months for the week ending Wednesday, as tumult in Westminster reduced the likelihood of a no-deal Brexit. View Article
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