928

result(s)

Word(s)
Publication type
Author
Keyword
Date

Amending capital requirements: The 'CRD-V package'

15-04-2019

In December 2018, the European Parliament and the Council (the co-legislators) reached a political agreement on the legislative proposals amending the current Capital Requirements Directive and Regulation (the 'CRD-IV package'), which establish the prudential framework for financial institutions operating in the EU. The amendments to the package implement the most recent regulatory standards for banks, set at international level ('Basel III framework'). They also address some regulatory shortcomings ...

In December 2018, the European Parliament and the Council (the co-legislators) reached a political agreement on the legislative proposals amending the current Capital Requirements Directive and Regulation (the 'CRD-IV package'), which establish the prudential framework for financial institutions operating in the EU. The amendments to the package implement the most recent regulatory standards for banks, set at international level ('Basel III framework'). They also address some regulatory shortcomings and aim to contribute to sustainable bank financing of the economy. Parliament is due to vote on adopting the proposals during the April II plenary session.

An EU framework to facilitate investments in environmentally sustainable economic activities

12-04-2019

This initial appraisal assesses the strengths and weaknesses of the European Commission's impact assessment accompanying its proposals for three regulations on: establishing a framework to facilitate sustainable investment disclosures relating to sustainable investments and sustainability risks; and on introducing two new categories of carbon benchmarks in the (benchmark) Regulation (EU) 2016/1011. The legislative package on sustainable finance deals with technical and inherently complex issues; ...

This initial appraisal assesses the strengths and weaknesses of the European Commission's impact assessment accompanying its proposals for three regulations on: establishing a framework to facilitate sustainable investment disclosures relating to sustainable investments and sustainability risks; and on introducing two new categories of carbon benchmarks in the (benchmark) Regulation (EU) 2016/1011. The legislative package on sustainable finance deals with technical and inherently complex issues; it is therefore not surprising that the IA accompanying it reflects such a complexity, which is not always dealt with in a clear and immediately understandable way. This might also explain the double negative opinions, unusually followed in this case by a positive opinion with reservations issued by the Commission's Regulatory Scrutiny Board (RSB). The consequences of the two identified problems (lack of incentives to consider ESG factors and high search costs faced by end-investors), and how they would evolve without EU action, are described in a satisfactory way, as well as their underlying drivers. As required, the IA identifies general and specific objectives, but no operational objectives that would have informed about how the preferred options are expected to operate in practice. This is very likely due to the fact the operational aspects of the proposals are envisaged to be defined, and analytically developed, by subsequent delegated acts. The IA's preferred options are selected after considering both a non-legislative and a regulatory approach, although two of them contains some aspects that are not entirely clear. As regards its scope, the IA has only partially succeeded in explaining the impacts considered in an entirely satisfactory way. The IA does not include an analysis of competitiveness nor an analysis of impacts, if any, on SMEs. The evidence included in the IA provides ample and detailed insights into the issues considered and some methodological limitations, regarding the proposal on low carbon and positive carbon impact benchmarks are acknowledged in the IA. The Commission has consulted extensively a broad range of stakeholders, whose views have been satisfactorily reported in the IA or in a separate document containing the results of the second open public consultation. Overall, the IA appears to have addressed the majority of the improvements requested by the RSB. Finally, the legislative proposals seem to be consistent with the analysis carried out in the IA.

Understanding farmer income

11-04-2019

Farmer income is a key element in EU agricultural policy, aiming at ensuring a fair standard of living for the agricultural community and helping farmers face the risks inherent to their business. Measurement relies on two EU wide data sources. Understanding what agricultural receipts these data measure, and how, is key to evaluating farm policy in EU Member States and important in light of the proposed performance based policy framework.

Farmer income is a key element in EU agricultural policy, aiming at ensuring a fair standard of living for the agricultural community and helping farmers face the risks inherent to their business. Measurement relies on two EU wide data sources. Understanding what agricultural receipts these data measure, and how, is key to evaluating farm policy in EU Member States and important in light of the proposed performance based policy framework.

Covered bonds: Issue and supervision, exposures

10-04-2019

The Commission has proposed a directive and a regulation to create a unified European framework for covered bonds. Parliament is due to vote in April on the texts agreed in interinstitutional negotiations.

The Commission has proposed a directive and a regulation to create a unified European framework for covered bonds. Parliament is due to vote in April on the texts agreed in interinstitutional negotiations.

The InvestEU programme: Continuing EFSI in the next MFF

09-04-2019

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. Negotiators for Parliament and Council have reached a partial agreement on the text of the proposal, excluding budgetary figures and other elements which will not be finalised until overall agreement on the new MFF. Parliament is due to vote on that agreement in April 2019.

Stock take of the SRB’s activities over the past years: What to improve and focus on?

08-04-2019

It is time for the Single Resolution Board (SRB) to step into the limelight and for the authorities to let it live up to its task. Despite significant improvement in the health of banks over the last 10 years, stress tests results, money laundering scandals and bank failures indicate that the sector is not free of problems, and that the SRB may be called upon to act on a large systemic bank. Policy makers have so far preferred to continue to bail-out banks, rather than to use the SRB for what it ...

It is time for the Single Resolution Board (SRB) to step into the limelight and for the authorities to let it live up to its task. Despite significant improvement in the health of banks over the last 10 years, stress tests results, money laundering scandals and bank failures indicate that the sector is not free of problems, and that the SRB may be called upon to act on a large systemic bank. Policy makers have so far preferred to continue to bail-out banks, rather than to use the SRB for what it was designed. This undermines the credibility of the institution and the single banking market.

External author

K.Lannoo, CEPS

Competition issues in the Area of Financial Technology (FinTech): Study presentation

04-04-2019

The study presented in this event deals with the new competition challenges brought about by the increasing number of FinTech services, which are provided by newcomer start-ups, traditional financial institutions and big tech companies. Namely, network effects derived from the use of online-platforms, the use of customer data, algorithms, standardisation and interoperability can result in anticompetitive behaviour. The analysis takes a service-by-service approach to provide both, a descriptive breakdown ...

The study presented in this event deals with the new competition challenges brought about by the increasing number of FinTech services, which are provided by newcomer start-ups, traditional financial institutions and big tech companies. Namely, network effects derived from the use of online-platforms, the use of customer data, algorithms, standardisation and interoperability can result in anticompetitive behaviour. The analysis takes a service-by-service approach to provide both, a descriptive breakdown and normative tools to anticipate and manage anticompetitive behaviours as they occur. This presentation was prepared by Policy Department A at the request of the ECON Committee.

External author

David RAMOS MUÑOZ Juan Pablo VILLAR GARCÍA et al.

Single Supervisroy Mechanism (SSM) – Accountability arrangements and legal base for hearings in the European Parliament - State of Play - April 2019

01-04-2019

This note prepared by the Economic Governance Support Unit provides an overview of the EP’s accountability hearings in the context of the Single Supervisory Mechanism.

This note prepared by the Economic Governance Support Unit provides an overview of the EP’s accountability hearings in the context of the Single Supervisory Mechanism.

Single Resolution Board (SRB) - Accountability Arrangements and Legal Base for Hearings in the European Parliament - State of Play - April 2019

01-04-2019

This note prepared by the Economic Governance Support Unit provides an overview of the EP’s accountability hearings in the context of the Single Resolution Mechanism.

This note prepared by the Economic Governance Support Unit provides an overview of the EP’s accountability hearings in the context of the Single Resolution Mechanism.

Plenary round-up – Strasbourg, March II 2019

29-03-2019

Highlights of the March II plenary session included debates on the conclusions of the 21-22 March 2019 European Council meeting and on recent developments on the Dieselgate scandal. Parliament also debated the situation in Algeria and the illegal occupation of Crimea by the Russian Federation. Important debates also took place on various legislative proposals, including on interoperability between EU information systems. Members voted on a number of legislative proposals (see below), such as discontinuing ...

Highlights of the March II plenary session included debates on the conclusions of the 21-22 March 2019 European Council meeting and on recent developments on the Dieselgate scandal. Parliament also debated the situation in Algeria and the illegal occupation of Crimea by the Russian Federation. Important debates also took place on various legislative proposals, including on interoperability between EU information systems. Members voted on a number of legislative proposals (see below), such as discontinuing seasonal changes of time. Parliament also voted on the report on the TAX3 committee’s findings and on 53 reports on the 2017 discharge procedure. Finally, Parliament adopted first-reading positions on nine further proposed funding programmes for the 2021-2027 period.

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