4

výsledok(-ky)

Slovo (slová)
Typ publikácie
Oblasť politiky
Autor
Kľúčové slovo
Dátum

What if blockchain changed social values?

10-05-2017

Blockchain technology could shake up many aspects of our daily lives, from the currency we use to the purchases we make. But what is the impact on our social values, and what can policy-makers do about it?

Blockchain technology could shake up many aspects of our daily lives, from the currency we use to the purchases we make. But what is the impact on our social values, and what can policy-makers do about it?

Regulation (EU) No 648/2012 of the European Parliament and of the Council on OTC derivatives, central counterparties and trade repositories

20-03-2017

Regulation 648/2012 intends to make derivative markets more stable, transparent and efficient. It implements G20 commitments on over-the-counter derivatives and on the mitigation of risks on financial markets. It establishes several important principles and rules applicable to derivative contracts, such as a clearing obligation or a reporting obligation, but also rules applicable to subjects active in the financial markets, such as central counterparties or trade repositories. The implementation ...

Regulation 648/2012 intends to make derivative markets more stable, transparent and efficient. It implements G20 commitments on over-the-counter derivatives and on the mitigation of risks on financial markets. It establishes several important principles and rules applicable to derivative contracts, such as a clearing obligation or a reporting obligation, but also rules applicable to subjects active in the financial markets, such as central counterparties or trade repositories. The implementation reports of the European Commission, as well as reports of the European Securities and Markets Authority and of the European Systemic Risk Board, show that the regulation in its current state needs several changes and amendments. These reports note the existing challenges linked with procyclicality, frontloading, management of systemic risk or the position of central counterparties and of the European Securities and Markets Authority. Furthermore, the unclear language of the regulation, missing and unclear definitions (e.g. 'client' or 'assets') and the issues linked with transparency should be considered when it comes to be amended. The European Parliament has called on the Commission on several occasions to update the financial legislation and improve the compliance with commitments on OTC derivatives reform set by the G20. Similarly, the European Economic and Social Committee has noted the need to update the existing legislation. Last, but not least, the European Commission itself has expressed the willingness to come forward with a new legislative proposal that will update the existing system of OTC derivatives, central counterparties and trade repositories. It is expected that the Commission will submit this proposal in June 2017.

Common European Sales Law: Research Paper on the Economic Aspects of the European Commission's Impact Assessment

15-02-2013

In recent years, an extensive debate has evolved on the need for harmonisation of European sales law, with the existing diversity of contract laws in Member States being perceived as a barrier to trade and hence as burdensome for the European internal market. In November 2010 the European Commission commissioned a study supporting its Impact Assessment (IA) preparation on this matter. This report suggests that differences in contract law between Member States (MS) do create a barrier to trade, and ...

In recent years, an extensive debate has evolved on the need for harmonisation of European sales law, with the existing diversity of contract laws in Member States being perceived as a barrier to trade and hence as burdensome for the European internal market. In November 2010 the European Commission commissioned a study supporting its Impact Assessment (IA) preparation on this matter. This report suggests that differences in contract law between Member States (MS) do create a barrier to trade, and the value of trade foregone each year between MS due to differences in contract law amounts to some tens of billions of euros. The aim of this paper is to assess the robustness and validity of the method used by the Commission to calculate opportunity and transaction costs, as well as the soundness of the economic model applied to the assessment of policy options; and to assess the reliability of the Commission's assumptions in this respect and whether they can stand up to scrutiny.

Externý autor

Mitja Kovač

Libor manipulation and its consequences

07-09-2012

It has recently been established that Libor has been manipulated by Barclays Bank over a number of years. Improvements in the way Libor is calculated are being sought.

It has recently been established that Libor has been manipulated by Barclays Bank over a number of years. Improvements in the way Libor is calculated are being sought.

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