1579

result(s)

Word(s)
Publication type
Policy area
Author
Keyword
Date

Money laundering - Recent cases from a EU banking supervisory perspective

01-10-2018

This briefing (1) provides some insight into recent cases of breaches or alleged breaches of anti-money laundering (AML) rules by banks and (2) identifies some common prudential features. The briefing also outlines (3) the respective roles of European and national authorities in applying AML legislation that have been further specified in the 5th AML Directive adopted by the EP Plenary on 19 April, and (4) ways that have been proposed to further improve the AML supervisory framework, including the ...

This briefing (1) provides some insight into recent cases of breaches or alleged breaches of anti-money laundering (AML) rules by banks and (2) identifies some common prudential features. The briefing also outlines (3) the respective roles of European and national authorities in applying AML legislation that have been further specified in the 5th AML Directive adopted by the EP Plenary on 19 April, and (4) ways that have been proposed to further improve the AML supervisory framework, including the 12 September Commission’s communication and the changes to the European Supervisory Authority (ESA) Regulation proposed by the Commission. The Commission suggests a three-pronged approach to reinforce AML supervision: (i) further guidelines and best practices developed by EBA; (ii) stronger powers - including an obligation to act - for the European Banking Authority (‘EBA’) as part of the ESA review being negotiated at Council and Parliament; (iii) establishing, where appropriate, an EU body, at a later stage, as part of the review clause of the 5th AML Directive in 2022. This briefing is an updated version of the April 2018 EGOV briefing prepared for the hearing: ‘Combat of Money Laundering in the EU Banking Sector’ organised by the European Parliament’s Special Committee on Financial Crimes, Tax Evasion and Tax Avoidance (TAX3) on 26 April 2018.

Third country equivalence in EU banking and financial regulation

27-09-2018

This briefing provides an insight into the latest regulatory developments on equivalence in EU banking and financial regulation, including elements of the on-going ESA review, the Investment Firm Review, and EMIR 2.2 that are being discussed at the European Parliament and the Council. The briefing also gives an overview on the possible role of equivalence regimes in the context of Brexit both in the context of a ‘no-deal’ scenario and as part of an agreement. This briefing is an updated version of ...

This briefing provides an insight into the latest regulatory developments on equivalence in EU banking and financial regulation, including elements of the on-going ESA review, the Investment Firm Review, and EMIR 2.2 that are being discussed at the European Parliament and the Council. The briefing also gives an overview on the possible role of equivalence regimes in the context of Brexit both in the context of a ‘no-deal’ scenario and as part of an agreement. This briefing is an updated version of a briefing published in April 2018.

EU asylum, borders and external cooperation on migration: Recent developments

21-09-2018

This publication takes stock of recent EU developments in the area of asylum, borders and external cooperation on migration. It discusses key initiatives put forward by the EU in order to respond to migratory challenges, focusing on three major aspects: reforming the common European asylum system, strengthening the EU's external borders and reinforcing the EU's external cooperation on migration.

This publication takes stock of recent EU developments in the area of asylum, borders and external cooperation on migration. It discusses key initiatives put forward by the EU in order to respond to migratory challenges, focusing on three major aspects: reforming the common European asylum system, strengthening the EU's external borders and reinforcing the EU's external cooperation on migration.

EU trade with Latin America and the Caribbean: Overview and figures

14-09-2018

This publication provides an overview of trade relations between the EU and Latin American and Caribbean countries and groupings. The EU has fully fledged agreements with two Latin American groupings (Cariforum and the Central America group), a multiparty trade agreement with three members of the Andean Community (Colombia, Ecuador, and Peru), and bilateral agreements with Chile and Mexico. Since November 2017, a new agreement governing trade relations with Cuba has also been provisionally applied ...

This publication provides an overview of trade relations between the EU and Latin American and Caribbean countries and groupings. The EU has fully fledged agreements with two Latin American groupings (Cariforum and the Central America group), a multiparty trade agreement with three members of the Andean Community (Colombia, Ecuador, and Peru), and bilateral agreements with Chile and Mexico. Since November 2017, a new agreement governing trade relations with Cuba has also been provisionally applied. In addition, the EU is currently modernising its agreements with Mexico (with which it has reached an 'agreement in principle') and Chile. The EU also has framework agreements with Mercosur and its individual members (Argentina, Brazil, Paraguay, and Uruguay). The agreement with the former will be replaced, once the ongoing negotiations on an EU-Mercosur association agreement have been completed. This publication provides recent data on trade relations between the EU and Latin American and Caribbean countries and groupings, compares the main agreements governing trade relations that are already in place, and analyses the rationale behind the ongoing negotiations on the EU-Mercosur, EU-Mexico and EU-Chile agreements. This is a revised and updated edition of a publication from October 2017 by Gisela Grieger and Roderick Harte, PE 608.793.

Abundant Liquidity and Bank Lending Activity: an Assessment of the Risks

14-09-2018

This paper assesses the risks facing the euro area banking system, as it returns to normal financial conditions without ECB support. In the first part we argue that risks to bank lending mainly stem from the transmission of external monetary policy effects that may not be aligned with ECB policies. The second part of the paper therefore offers some ideas on the need to moderate spillover effects from outside monetary policies or events. We also review how far new prudential policies, regulatory measures ...

This paper assesses the risks facing the euro area banking system, as it returns to normal financial conditions without ECB support. In the first part we argue that risks to bank lending mainly stem from the transmission of external monetary policy effects that may not be aligned with ECB policies. The second part of the paper therefore offers some ideas on the need to moderate spillover effects from outside monetary policies or events. We also review how far new prudential policies, regulatory measures and/or policies can be used to mitigate those unfavourable risks. This document was provided by Policy Department A at the request of the Economic and Monetary Affairs.

External author

Andrew HUGHES HALLETT

Central Bank Communication at Times of Non-Standard Monetary Policies

14-09-2018

Communication is an important monetary policy tool, as central banks can use it to manage the expectations of economic agents. Communication becomes even more important in times of non-standard monetary policies due to increased levels of uncertainty and the introduction of new policy tools. In this paper, we summarise the literature on central bank communication in times of non-standard monetary policies, with a particular focus on forward guidance. This document was provided by Policy Department ...

Communication is an important monetary policy tool, as central banks can use it to manage the expectations of economic agents. Communication becomes even more important in times of non-standard monetary policies due to increased levels of uncertainty and the introduction of new policy tools. In this paper, we summarise the literature on central bank communication in times of non-standard monetary policies, with a particular focus on forward guidance. This document was provided by Policy Department A at the request of the Economic and Monetary Affairs Committee.

External author

Lukasz JANIKOWSKI, Andrzej RZONCA

Post-crisis Excess Liquidity and Bank Lending

14-09-2018

With the Asset Purchase Program, the European Central Bank has supplied significant amounts of liquidity into the financial system starting from 2015, resulting yet into a new upswing in excess liquidity. The expanded asset purchase programme (APP) program broadly coincided with further cuts in the ECB’s deposit facility rate, which currently stands at -0.4%. Against this background, this note assesses the ECB policy of negative rate on the deposit facility and discusses the associated risks in the ...

With the Asset Purchase Program, the European Central Bank has supplied significant amounts of liquidity into the financial system starting from 2015, resulting yet into a new upswing in excess liquidity. The expanded asset purchase programme (APP) program broadly coincided with further cuts in the ECB’s deposit facility rate, which currently stands at -0.4%. Against this background, this note assesses the ECB policy of negative rate on the deposit facility and discusses the associated risks in the context of an excess liquidity overhang for the euro area, including risk-appetite for banks. This document was requested by the European Parliament's Committee on Economic and Monetary Affairs.

External author

Corrado MACCHIARELLI

Central Banks Communications and Monetary Policy

14-09-2018

Communications about plans for future monetary policy are one of the key tools through which central banks can affect the economy. The addition of non-standard policies such as quantitative easing has complicated communication for central banks and there have been some lessons for the ECB to learn from communications mistakes made by other central banks in recent years. The ECB has so far done well in handling the communications issues relating to the ending of its Asset Purchase Programme but it ...

Communications about plans for future monetary policy are one of the key tools through which central banks can affect the economy. The addition of non-standard policies such as quantitative easing has complicated communication for central banks and there have been some lessons for the ECB to learn from communications mistakes made by other central banks in recent years. The ECB has so far done well in handling the communications issues relating to the ending of its Asset Purchase Programme but it faces a number of communications challenges as it seeks to normalise monetary policy. This document was provided by Policy Department A at the request of the Economic and Monetary Affairs Committee.

External author

Professor Karl Whelan

Central Bank Communication during Normal and Crisis Times

14-09-2018

Central banks have intensified their communication strategy since the mid 1990’s and it has become an important instrument of central banks’ policymaking toolkit. A large empirical evidence suggests that central bank communication has effectively enhanced the transmission of monetary policy before and during the financial crisis. Nevertheless, the use of communication as a policy instrument is fragile since it depends on economic agents’ perceptions and beliefs. It is crucial that central bank communication ...

Central banks have intensified their communication strategy since the mid 1990’s and it has become an important instrument of central banks’ policymaking toolkit. A large empirical evidence suggests that central bank communication has effectively enhanced the transmission of monetary policy before and during the financial crisis. Nevertheless, the use of communication as a policy instrument is fragile since it depends on economic agents’ perceptions and beliefs. It is crucial that central bank communication be consistent with policy decisions. This document was provided by Policy Department A at the request of the Economic and Monetary Affairs Committee.

External author

Christophe Blot, Paul Hubert

Negative Interest Rates and the Signalling Channel

14-09-2018

While negative interest rates stimulate the real economy by enhancing credit supply and improving the wealth situation of firms and households, they might come with side effects with regard to banking and financial stability. In an assessment of the trade-off between the ability of a central bank to use negative policy rates to signal lower future deposits rates, against the potential costs on bank profitability, we find that the signalling effect dominates. Thus, a negative interest rate policy ...

While negative interest rates stimulate the real economy by enhancing credit supply and improving the wealth situation of firms and households, they might come with side effects with regard to banking and financial stability. In an assessment of the trade-off between the ability of a central bank to use negative policy rates to signal lower future deposits rates, against the potential costs on bank profitability, we find that the signalling effect dominates. Thus, a negative interest rate policy is an effective monetary policy tool, even when deposit rates are bound by zero. This document was provided by Policy Department A at the request of the Economic and Monetary Affairs Committee.

External author

Kerstin Bernoth, Alexander Haas

Upcoming events

18-10-2018
Policy Dialogue with EUI: EP Elections - Challenges and Opportunities
Other event -
AFCO
18-10-2018
Gender-specific Measures in Anti-trafficking Actions
Hearing -
LIBE FEMM
18-10-2018
EPRS Presentation of studies
Other event -
TAX3

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