898

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Recent measures for Banca Carige from a BRRD and State Aid perspective

15-02-2019

On 8 January 2019, Banca Carige’s temporary administrators issued a press statement setting out some initiatives they have taken to secure the future of the bank. This briefing contains background information on the case of Banca Carige and links the initiatives taken to respective legal requirements stemming from the Bank Recovery and Resolution Directive (BRRD) and the rules for State Aid (SA).

On 8 January 2019, Banca Carige’s temporary administrators issued a press statement setting out some initiatives they have taken to secure the future of the bank. This briefing contains background information on the case of Banca Carige and links the initiatives taken to respective legal requirements stemming from the Bank Recovery and Resolution Directive (BRRD) and the rules for State Aid (SA).

The InvestEU programme: Continuing EFSI in the next MFF

14-02-2019

Since its launch in November 2014, the Investment Plan for Europe (IPE) has had considerable success in mobilising private investment across Europe. Despite its success, investment levels in Europe remain below pre-crisis levels. There is therefore a need to provide for an extended EU investment programme under the new multiannual financial framework (MFF), which caters for multiple objectives in terms of simplification, flexibility, synergies and coherence across relevant EU policies. The InvestEU ...

Since its launch in November 2014, the Investment Plan for Europe (IPE) has had considerable success in mobilising private investment across Europe. Despite its success, investment levels in Europe remain below pre-crisis levels. There is therefore a need to provide for an extended EU investment programme under the new multiannual financial framework (MFF), which caters for multiple objectives in terms of simplification, flexibility, synergies and coherence across relevant EU policies. The InvestEU programme, expected to run from 2021 onwards, has been designed to address this challenge. It will bring diverse EU financial instruments within a single structure, making EU funding for investment projects in Europe simpler and more efficient and flexible. It will build on the success achieved by the European Fund for Strategic Investments (EFSI) and consist of the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal.

European Stability Mechanism – Main Features, Instruments and Accountability

14-02-2019

This document presents the main features of the European Stability Mechanism (ESM), including governance, capital structure and funding sources, main lending instruments, as well as its oversight and accountability framework. It also reviews recent proposals and contributions on the possible evolution of the ESM. This note is regularly updated.

This document presents the main features of the European Stability Mechanism (ESM), including governance, capital structure and funding sources, main lending instruments, as well as its oversight and accountability framework. It also reviews recent proposals and contributions on the possible evolution of the ESM. This note is regularly updated.

Measures to strengthen NordLB’s capital position

14-02-2019

This briefing for the attention of the Members of the Banking Union Working Group summarises publically available information on Norddeutsche Landesbank (NordLB) regarding (i) its activities, ownership, supervision, and recent performance, (ii) the 2018 stress test results and capital position, (iii) the 2012 State Aid decision and performance during the restructuring period, (iv) NordLB’s core problem: the shipping portfolio, (v) NordLB’s recent attempts to strengthen its capital position, and ( ...

This briefing for the attention of the Members of the Banking Union Working Group summarises publically available information on Norddeutsche Landesbank (NordLB) regarding (i) its activities, ownership, supervision, and recent performance, (ii) the 2018 stress test results and capital position, (iii) the 2012 State Aid decision and performance during the restructuring period, (iv) NordLB’s core problem: the shipping portfolio, (v) NordLB’s recent attempts to strengthen its capital position, and (vi) the BRRD framework.

The role of national fiscal bodies. State of play - February 2019

13-02-2019

This briefing provides an overview of the role played by independent national fiscal bodies in the preparations of forthcoming budgets in EU Member States.

This briefing provides an overview of the role played by independent national fiscal bodies in the preparations of forthcoming budgets in EU Member States.

EURO AT 20: BACKGROUND READER COLLECTION OF STUDIES AND ASSESSMENTS

13-02-2019

This publication is a collection of studies and assessment papers, originally prepared at the request of the Committee on Economic and Monetary Affairs of the European Parliament. It aims to provide background-reading materials for the members of European Parliament and members of national parliaments participating in the Parliamentary week 2019 focusing on the Euro@20 debate.

This publication is a collection of studies and assessment papers, originally prepared at the request of the Committee on Economic and Monetary Affairs of the European Parliament. It aims to provide background-reading materials for the members of European Parliament and members of national parliaments participating in the Parliamentary week 2019 focusing on the Euro@20 debate.

External author

R.M.Lastra, CEPS, K.Whelan, M.Dabrovski, Sciences Po-OFCE et al.

Fintech (financial technology) and the European Union: State of play and outlook

12-02-2019

The financial technology (fintech) sector encompasses firms that use technology-based systems either to provide financial services and products directly, or to make the financial system more efficient. Fintech is a rapidly growing sector: in the first half of 2018, investment in fintech companies in Europe alone reached US$26 billion. The fintech sector brings rewards including innovation and job creation, but also challenges, such as data and consumer protection issues, and the risk of exacerbating ...

The financial technology (fintech) sector encompasses firms that use technology-based systems either to provide financial services and products directly, or to make the financial system more efficient. Fintech is a rapidly growing sector: in the first half of 2018, investment in fintech companies in Europe alone reached US$26 billion. The fintech sector brings rewards including innovation and job creation, but also challenges, such as data and consumer protection issues, and the risk of exacerbating financial volatility or cybercrime. To tackle these multi-disciplinary challenges, policy- and lawmakers in the European Union (EU) have adopted and announced several initiatives, for instance on intra-EU payment services, data protection, crowdfunding and regulatory sandboxes. This briefing outlines current and upcoming fintech-related laws at EU level. It follows on from a March 2017 EPRS briefing that focused, inter alia, on the evolution, scope and economic prospects of fintech.

Credit servicers, credit purchasers and the recovery of collateral: Fostering secondary markets for non-performing loans (NPLs) and easing collateral recovery

12-02-2019

Due to the recessions brought about by the financial crisis from the end of the past decade, more and more EU companies and citizens have faced economic difficulties in recent years and have been unable to repay their loans. As a consequence, many EU banks have accumulated high volumes of non-performing loans (NPLs) in their balance-sheets. Although almost halved in comparison to December 2014, the ratio between NPLs and the total loans extended by EU banks (NPL ratio) remains historically high when ...

Due to the recessions brought about by the financial crisis from the end of the past decade, more and more EU companies and citizens have faced economic difficulties in recent years and have been unable to repay their loans. As a consequence, many EU banks have accumulated high volumes of non-performing loans (NPLs) in their balance-sheets. Although almost halved in comparison to December 2014, the ratio between NPLs and the total loans extended by EU banks (NPL ratio) remains historically high when measured against the ratios of other advanced economies. High levels of NPLs require banks to hold higher amounts of regulatory capital and pay a risk premium on liquidity markets, as a result of which their profitability and growth prospects diminish. To tackle this issue, a number of different initiatives have been adopted both at national and EU level. Within this context, in March 2018 the Commission adopted a comprehensive package of measures including a proposal for a directive aimed at fostering NPL secondary markets and easing collateral recovery from secured loans.

Implementation of the Stability and Growth Pact (February 2019)

11-02-2019

This document gives an overview of key developments under the preventive and corrective arms of the Stability and Growth Pact (SGP) on the basis of (1) the latest Council decisions and recommendations in the framework of the SGP; (2) the latest European Commission (COM) economic forecast; and (3) the latest COM Opinions on the Draft Budgetary Plans (DBPs) of euro area Member States. The document is regularly updated.

This document gives an overview of key developments under the preventive and corrective arms of the Stability and Growth Pact (SGP) on the basis of (1) the latest Council decisions and recommendations in the framework of the SGP; (2) the latest European Commission (COM) economic forecast; and (3) the latest COM Opinions on the Draft Budgetary Plans (DBPs) of euro area Member States. The document is regularly updated.

Money laundering - Recent cases from a EU banking supervisory perspective

11-02-2019

This briefing (1) provides some insight into recent cases of breaches or alleged breaches of anti-money laundering (AML) rules by SSM supervised 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 ...

This briefing (1) provides some insight into recent cases of breaches or alleged breaches of anti-money laundering (AML) rules by SSM supervised 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.

Upcoming events

18-02-2019
ECON/TAX3 - Joint session with National Parliaments
Other event -
TAX3
19-02-2019
Hearing on attacks on the legal profession and lawyers defending human rights
Hearing -
DROI
19-02-2019
Just energy transition, opportunity for EU industries
Workshop -
ITRE

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