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ECON Committee: Banking supervision - an accountable system open to all
Draft banking supervision legislation tabled in the ECON Committee would give national supervisors a greater role than do earlier Commission proposals, while at the same time retaining the ECB's power to decide to supervise any bank directly.
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Sharon Bowles MEP warns EU leaders of piecemeal approach to single banking supervision
ECON chair Sharon Bowles called on EU leaders to give the necessary care and foresight to enable the banking union proposals to be fully functional.
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"Banking Union is fast becoming Banking Union Lite - getting the taste without the commitment" - Sharon Bowles MEP
Sharon Bowles questioned the need to rush the banking union, given that it will not lead to recapitalisation of Spain's banks. She went on to criticise the Capital Requirements Directive for introducing so many exemptions for the different banking models across Europe.
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EPP/Thyssen: Banking supervision - 'EP must ensure legislative framework is in place by 1 January 2013'
Marianne Thyssen welcomed the agreement reached at the EU Summit to finalise the European banking supervision, the reinforcement of the EMU, and the Two Pack by the end of the 2012. She stressed that the EP must do everything it can to make sure the ambitious objectives are achieved.
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ALDE/Verhofstadt: Banking supervision is just the first building block in the eurozone's urgently-needed global architecture
Verhofstadt welcomed the fact that by 2014, all 6,400 European banks will finally be placed under the supervision of a single control mechanism, which he said was "the only way to apply the same rules everywhere".
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ECB Constâncio, Liikanen discuss bank reforms with UK MPs
The European Central Bank's Vítor Constâncio said that a future EU banking union should be able to focus on the resolution of the large cross-border banks.
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Finnish Government: Progress in bank supervision at European Council
Finland considers it important that the single supervision mechanism be as attractive as possible to countries like Sweden and Denmark.
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Reuters: EU leaders leave critical issues on banking union unanswered
EU leaders have agreed to allow the ECB to supervise banks from next year, but questions remain about how the process will work, which lenders will be involved, and whether those in trouble can be helped. (Includes quote from Graham Bishop.)
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Bruegel/Pisani-Ferry: Clock is ticking on European banking union
Delay is sometimes justified. But Europe's leaders should not believe that positive market reactions to announcements will substitute for actual decisions for long.
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BNE Position Paper on European Banking Union
This paper seeks to set out the background, the key issues and the recommendations for the UK government in preparation for the forthcoming European Council negotiations in October and December, which are taking place with a view to creating a European Banking Union.
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CEPS/Gros: Banking union - Ireland vs Nevada, an illustration of the importance of an integrated banking system
This latest commentary by Daniel Gros vividly illustrates the importance of the shock-absorbing capacity of an integrated banking system and a banking union.
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Eddy Wymeersch: The European Banking Union, a first analysis
Prof Wymeersch's in-depth paper presents a first legal and technical analysis of the Commission proposals for a Single Supervisory Mechanism. It also refers to some of the discussions that have already sprung up, including references to Graham Bishop's recent comments.
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BIS: Locational banking statistics and Consolidated banking statistics
The Bank for International Settlements published its Locational and Consolidated banking statistics.
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EBA: Joint Committee response to the CfA on the Fundamental Review of the Financial Conglomerates Directive
The European Banking Authority, EIOPA and ESMA responded to the European Commission's Call for Advice on the Fundamental Review of the Financial Conglomerates Directive.
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EBA: Report on the assessment of SME proposals for CRD IV/CRR
The report analyses the appropriateness of the Risk Weights for Retail SME lending proposed in the CRD IV/CRR framework. It assesses the possible effects of a reduction by 1/3 in relation to the current regulation, and the effect of an increase to €5 million on the regulatory thresholds for SMEs.
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EACT/Raeburn: Approaching a win on CRD IV/CRR?
In his blog, chairman Richard Raeburn writes that EACT and many corporates have been arguing that it is illogical and unhelpful to allow CRD IV/CRR to override economically the value of the corporate exemption under EMIR. The issue is specifically over the application of CVA.
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EPP/Hökmark: Bank recovery - Banks in crisis may be nationalised after owners and lenders taken hit
"Temporary public ownership of banks should be an ultimate resort when a systemic crisis hits. This must be an available tool if financial crises are not to be exacerbated and in order to protect taxpayers' money in the long run. But shareholders must take the first fall."
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Bank of Finland Governor Erkki Liikanen: On the structural reforms of banking after the crisis
Liikanen focuses in his speech on changes in banking in the run-up to the crisis, public reaction to the crisis and the need to rebuild trust, the regulatory response to the crisis, and the proposals of the High-level Expert Group.
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Nucleus/Lloyd: Vickers and Liikanen fail to bite the bullet on banking reform
2012 has seen the publication of two reports on banking reform, both motivated by the desire to avoid future banking crisis and to protect the taxpayer from bearing the costs of the bailout of effectively insolvent banks.
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Reuters: Bank reforms risk more shadow banking - ECB's Liikanen
Policymakers must guard against the risk that banking sector reforms could drive more business into the shadow banking sector, European Central Bank Governing Council member Erkki Liikanen said on Thursday. (Includes link to CNBC interview with Liikanen.)
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FTAdviser: Volcker warns about ring-fence jumping
A ring-fence on retail banking, as proposed by the Independent Commission on Banking and backed by the UK government, would become permeable over time, Paul Volcker has warned. (Includes comment on Volcker's appearance before the Commission by Chairman of the PCBS, Andrew Tyrie MP.)
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BFM: Extension of protection against systemic banking crises
The German Cabinet approved the extension of the Financial Market Stabilisation Fund (SoFFin) until the end of 2014, with the intent of prolonging the option for banks to receive stabilisation measures from SoFFin until the uniform European restructuring guidelines enter into force.
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EBA/Enria: Deleveraging and segmentation of the Single Market
EBA chairman Andrea Enria gave a speech entitled "A Reconfiguration of Europe - the CEE Perspective on Deleveraging and segmentation of the Single Market". He highlighted the EBA's formal role as mediator and watchdog for the compliance with EU law.
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Deloitte: Tougher capital rules are key driver of European bank deleveraging
Deloitte UK undertook primary research alongside DTTL member firms across Europe, surveying 18 European financial institutions, representing €11 trillion of assets, about their experience and expectations of deleveraging. The survey was reinforced by one-on-one interviews.
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Bank of England: The Prudential Regulation Authority’s approach to banking supervision
The PRA will become the UK's prudential regulator for deposit-takers, insurance companies and some investment firms in 2013. This paper sets out how the PRA will carry out its role in respect of deposit-takers and investment firms.
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FT: BBA considers register to ban rogue bankers
UK bankers face the risk of being barred from their profession by an independent body if they misbehave, under new rules being weighed up by the main City bank lobby group in a bid to revive the battered reputation of the financial sector.
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VP Almunia: State aid control
Speaking at the Barcelona Graduate School of Economics Inaugural Lecture, Almunia explained how the European Commission has been using the instruments of State aid control to push towards the restructuring of banks since 2008.
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SUERF Study 2012/5: 'Developing Distress Resolution Procedures for Financial Institutions'
This paper focuses on the need for a lex specialis for resolution of insolvent banks and other financial institutions serving similar functions, as well as on the requirements for making resolution procedures effective.
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