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ECOFIN conclusions on financial supervision: Broad agreement and targeting conclusion by end-2009
ECOFIN will start negotiations with the European Parliament on the regulation on the basis of this approach, intending to reach agreement at first reading. ECOFIN referred this to the October European Council but is still targeting conclusion by end-2009
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Securities income: Commission recommends simplified procedures for claiming cross-border withholding tax relief
Designed not to hinder the functioning of the Single Market, the recommendation suggests measures to eliminate tax barriers facing financial institutions in their securities investment activities, while protecting tax revenues against errors or fraud.
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AMF - Regulation and Asset Management Newsletter No11
AMF Newsletter No 11 addresses the IOSCO’s standing committee on investment management, the work of the European Union on fund depositaries and the AMF asset management round-up. It also covers Q&A with Jacques Delmas on key investor documents.
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ACCA: Global SME survey shows cautious optimism on improving access to finance
The report urges the Commission to keep the SME sector at the top of its agenda as access to finances has been the biggest problem facing SMEs in the last two years. According to the latest research, businesses expect a gradual improvement in 2010.
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ECB Gertrude Tumpel-Gugerell: the European response to the financial crisis
With regard to the regulatory response, Tumpel-Gugerell believes that many regulatory issues can only be truly tackled at the global level. Indeed, under the aegis of the G20, authorities worldwide have agreed on a common agenda for regulatory reform.
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BIS: “Trading book quantitative impact study by the Basel Committee”
Banking Supervision study concludes that changes to the market risk framework will increase average trading book capital requirements by two to three times their current levels, although the Committee noted significant dispersion around this average.
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Big issues for the next ECOFIN Council
EU Finance Ministers will meet in Luxembourg to discuss financial supervision, as well as how public finances are to be brought back into balance.
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US Fed Tarullo: state of the banking industry
The banking industry needs time to work through challenges raised as a result of the crisis and to fully recover. Only then can it serve as a source of strength for the economy. Some positive signals have appeared but caution is still needed.
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