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The briefing provides an overview of the latest work by the Financial Stability Board (FSB). It first addresses the FSB as an institution, its mandate, members and governance arrangements, and second, outlines its current work. This paper builds and updates an earlier version.

This document, prepared by Policy department A at the request of the Economic and Monetary Affairs Committee (ECON), summarises the key findings of the study on the EU Statutory Audit Reform.

The increasing number of FinTech services provided by newcomer start-ups, traditional financial institutions and big tech companies can bring new competition challenges to the playing field. Some factors can result in anticompetitive behaviours, namely the network effects derived from the use of online platforms, the access to customer data, standardisation, interoperability and the use of algorithms. Combined with a service-by-service analysis, the study provides both, descriptive analysis and normative ...

Reforms to the system of governance of the euro area, launched in the wake of the 2008-09 financial crisis, have included, inter alia, the creation of authorities to better supervise the financial markets, improved mechanisms to coordinate fiscal policies, and procedures to correct economic imbalances. While the drive to overhaul the euro-zone's economic rulebook has slackened as the improving growth outlook has eased threats to the overall stability of the area, deeper integration of the euro area ...

On 11 July 2016, at the request of the Committees on Budget and Budgetary Control, the Policy Department for Budgetary Affairs organised a half-day workshop on Mid-Term Revision of the Financial Regulation, Improvement of direct management & Outlook on the Commission proposal. Experts from the Commission, the ECA, the EARTO, the EUA, Firalis and Max-Planck-Gesellschaft presented their views on the following main issues: • Complications due to the multiplicity of accounting systems; • Complications ...

This briefing seeks to provide an initial analysis of the strengths and weaknesses of the European Commission's Impact Assessment (IA) accompanying two Commission proposals for Regulations referred to Parliament’s Committee on Economic and Monetary Affairs : Regulation laying down common rules on securitisation and creating a European framework for simple, transparent and standardised securitisation (COM (2015) 472); and Regulation amending Regulation (EU) No 575/2013 on prudential requirements ...

This summer has been a dramatic one for China's stocks markets, with most indices registering losses of more than 40 % from their annual high. European markets have also suffered, and many observers across the globe are now nervously focused on the Asian giant whose economy drove so many other countries' in recent years. Yet the real economic significance of the drama in China may not stem from its bourses' losses; those who lost money on China's stock market are only a small percentage of its citizens ...

The European Union, via its institutions and Member States, is participating in various standard-setting fora in the economic and financial area. Experts analysed the role of the EU in nine separate studies on selected international economic fora (G20, FSB, OECD, IMF, BCBS, IOSCO, IAIS, IASB and IOPS). In this workshop, the authors discuss and inform ECON Members on the EU's role, representation and activities in these fora and present their core conclusions on these worldwide standard-setters with ...

This study provides a systematic evaluation of financial assistance for Greece, Ireland, Portugal and Cyprus. All four programmes, and in particular the Greek one, are very large financially compared to previous international programmes because macroeconomic imbalances and the loss of price competitiveness that accumulated prior to the programmes were exceptional. Yet programmes were based on far too optimistic assumptions about adjustment and recovery in Greece and Portugal. In all four countries ...

Money laundering has many different forms, and is a permanent threat within and outside the EU. In recent years, the EU has strengthened its anti-money-laundering framework. The Anti-Money-Laundering Directive (AMLD), which incorporates the main provisions for fighting money laundering and terrorist financing, is complemented by the Funds Transfers Regulation, which improves the traceability of actors and their assets.