|
IMF: fiscal challenge next for policymakers
Heads of IMF Fiscal Affairs Department and Monetary and Capital Markets Department discuss what might happen if fiscal policies are left unaddressed, agreeing that it is still too soon to unwind those put in place to fight the crisis.
|
CMSA of the US: financial firms warn accounting changes could threaten recovery
The Commercial Mortgage Securities Association said that the accounting rule bans the use of controversial financial entities that allowed firms to shift risks away from their bottom lines.
|
Commissioner Almunia: “Exit strategies are essential for the sustainability of public finance”
The long-term sustainability of public finances is a concern for all EU countries. Fiscal exit strategies aimed at achieving ambitious and realistic medium-term objectives need to be designed now and implemented in a co-ordinated manner.
|
ICMA Regulatory Policy Newsletter - October 2009
The October issue analyses the response to the international financial crisis. With new regulations affecting international capital markets, this will significantly change the boundaries for market practice in the future.
|
European Council conclusions on strengthening EU Financial Stability Arrangements
The Council has recently been stressing the need to move forward to ensure that progress is made in parallel with the ongoing work on the EU supervisory framework, and to strengthen the mechanisms for policy co-ordination in crisis management.
|
EUROFINAS stresses the important role that consumer credit providers can play in the field of financial education
The publication consists of a sample of national trade association initiatives as well as various case studies on lenders’ projects. It offers a unique insight into the initiatives and projects, including a review of their objectives.
|
Commissioner McCreevy:”It is essential that banks adhere to the SEPA Direct Debit Scheme”
The EPC SEPA Direct Debit Scheme is innovative and provides a framework for SEPA’s flagship product. As a result, all direct debits, whether domestic or cross-border, are provided under the same essential conditions and modalities throughout the SEPA area
|
ECB’s Tumpel-Gugerell:”Payments are becoming European”
There are many benefits to a harmonized retail payments market with common instruments, e.g. SEPA. As 50 % of cross-border trade of Euro countries are with each other, small to medium-sized enterprises benefit from harmonization across the national border
|
SEC Chairman Schapiro: the financial crisis has reinforced the importance of information disclosure
SEC Chairman Schapiro, at the IOSCO Technical Committee Conference in Basel, remarked that the SEC’s philosophical emphasis on transparency is shared by securities regulators around the world, as well as by IOSCO as an organization.
|
City of London banks agree to support G20 bonus reforms
In a competitive and global business, leading international banks have recently stated that banking remuneration must be consistent with effective risk management and there must be national and international consistency on this issue.
|