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In the aftermath of the 2008 financial crisis, which showed the need for more sophisticated and demanding capital requirements for banks, new regulations were agreed at international level – known as the Basel III Agreements. In the EU, they were implemented essentially by amending the Capital Requirements Directive (CRD) and adopting the Capital Requirements Regulation (CRR). On 27 October 2021, the Commission tabled two interconnected proposals to amend the CRR and the CRD, respectively. The objective ...

This document provides an overview of public hearings and exchange of views with the Chair of the Single Resolution Board (SRB) in the ECON Committee since July 2019. It also provides an overview of all external papers requested by the ECON Committee by a standing panel of banking experts. Lastly, the annex contains an overview of the respective legal bases for these hearings as part of the accountability framework of the SRB. For an overview of public hearings during the 8th parliamentary term, ...

In 2023, the EU celebrates the 30th anniversary of the single market. Recent shocks have shown not only how vulnerable to crises the single market is, but also the extent to which the EU economy relies on a well-functioning single market. It is now considered to be a key driver of EU resilience. In September 2022, the Commission put forward a single market emergency instrument (SMEI) package. It includes one main proposal for a regulation establishing a SMEI, and two accompanying proposals amending ...

The European Parliament launched a process of monitoring possible future risks for the EU during the COVID-19 crisis, and has developed this further during Russia's war on Ukraine. The annual 'Future Shocks' series provides up-to-date, objective, and authoritative information on global risks through a 360° survey based on risk literature from a broad range of sources. Future Shocks 2023: Anticipating and weathering the next storms discusses 15 risks related to geopolitics, climate change, health, ...

The European Parliament started monitoring future shocks during the coronavirus crisis, and has continued to do so during Russia's unprecedented war on Ukraine. The annual 'Future Shocks' series reviews global risks, with a focus on specific risks and the capabilities and resilience of the EU system in the face of multiple challenges. It seeks to provide up-to-date, objective and authoritative information on these risks, based on risk literature from a broad range of sources. 'Future Shocks' includes ...

Payment services enable digital payments through direct debits, credit transfers or payments with cards or similar devices. Within the EU, these are regulated through the revised Payment Services Directive (PSD2), which sets rules for payment services, their providers and consumer protection. Announced in September 2021 under the digital finance strategy and the retail payments strategy, the Commission published two proposals on the revision of PSD2 on 28 June 2023 as part of the financial data access ...

In line with the overall objectives of the European Green Deal, the proposed initiative aims to render consumption more sustainable by increasing the repair and reuse of defective consumer goods, both within and outside their legal guarantee. It complements two related initiatives that are currently pending (eco-design and empowering consumers for the green transition). The IA presents a clear intervention logic and a seemingly comprehensive qualitative and quantitative assessment of the impacts ...

Members focused on a wide range of legislative files during the July plenary session, in particular on environmental policy, the European chips act, and on journalists' freedom. Parliament debated the conclusions of the European Council meeting held on 29 30 June 2023, and the recent developments in the war against Ukraine and in Russia in particular. Members also debated Council and Commission statements on the greening transport package, the state of the SME Union, the need to adopt the 'unshell ...

The initiative's objective is to facilitate the use of digital tools and processes in EU company law. The problem definition appears to be well supported by evidence. The IA substantiates the nature and scale of the problem, as well as who it affects (business registers, public authorities, businesses, citizens/ consumers) and how. The policy options are not alternatives to each other but each one of them is a group of (sub-) options for each of the four intervention areas. The sub-options under ...

Collectively, the 33 countries forming the Community of Latin American and Caribbean States (CELAC) are the EU's fifth largest trading partner. Offering an overview of trade relations between the EU and Latin American and Caribbean countries (Chile, Cuba and Mexico) and groupings (the Andean Community, Cariforum, the Central American group (Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama), and the founding members of Mercosur (Argentina, Brazil, Paraguay and Uruguay), this study ...