2024

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Don't let up - The EU needs to maintain high standards for its banking sector as the European economy emerges from the Covid-19 pandemic

18-10-2021

The European banking system has weathered the pandemic reasonably well with the help of government intervention and economic support. Going forward, the EU should ensure the financial sector remains resilient by implementing the Basel III capital requirements in full, monitoring effects of the digital transition, and continuing to hold banks to high standards.

The European banking system has weathered the pandemic reasonably well with the help of government intervention and economic support. Going forward, the EU should ensure the financial sector remains resilient by implementing the Basel III capital requirements in full, monitoring effects of the digital transition, and continuing to hold banks to high standards.

Autor externo

Rebecca CHRISTIE, Monika GRZEGORCZYK

Impediments to resolvability – what is the status quo?

18-10-2021

To efficiently resolve a bank that is failing or likely to fail, and for which resolution is deemed in the public interest, it is important that impediments that hamper its resolvability are removed. Noting the limited public disclosure of banks and the Single Resolution Board (SRB), this paper assesses improvements in resolvability of a sample of 72 eurozone banks based on some key indicators. The main findings suggest that resolvability has marginally improved since the SRB resumed its full legal ...

To efficiently resolve a bank that is failing or likely to fail, and for which resolution is deemed in the public interest, it is important that impediments that hamper its resolvability are removed. Noting the limited public disclosure of banks and the Single Resolution Board (SRB), this paper assesses improvements in resolvability of a sample of 72 eurozone banks based on some key indicators. The main findings suggest that resolvability has marginally improved since the SRB resumed its full legal mandate in 2016, which is in line with earlier statements of the SRB characterising the process to make banks resolvable as a ‘marathon’.

Autor externo

M. Bodellini, W.P. De Groen

Country Specific Recommendations and Recovery and Resilience Plans - Thematic overview on tax avoidance, money laundering and corruption issues

18-10-2021

This paper outlines how 2019 and 2020 Country Specific Recommendations covering the fight against corruption, aggressive tax planning, tax evasion or tax avoidance or ineffective anti-money laundering measures are being addressed in national Recovery and Resilience Plans, based on Commission’s assessments. The paper will be updated once new relevant information is available.

This paper outlines how 2019 and 2020 Country Specific Recommendations covering the fight against corruption, aggressive tax planning, tax evasion or tax avoidance or ineffective anti-money laundering measures are being addressed in national Recovery and Resilience Plans, based on Commission’s assessments. The paper will be updated once new relevant information is available.

Credit servicers directive

13-10-2021

In March 2018, the European Commission adopted a proposal for a directive on credit servicers and credit purchasers as part of its overall strategy to tackle high volumes of non-performing loans (NPLs) accumulated on EU banks’ balance sheets. The proposal aims to foster the development of secondary markets for NPLs by removing undue obstacles to credit servicing and to the transfer of bank loans to third parties across the EU. The European Parliament is expected to vote during the October II plenary ...

In March 2018, the European Commission adopted a proposal for a directive on credit servicers and credit purchasers as part of its overall strategy to tackle high volumes of non-performing loans (NPLs) accumulated on EU banks’ balance sheets. The proposal aims to foster the development of secondary markets for NPLs by removing undue obstacles to credit servicing and to the transfer of bank loans to third parties across the EU. The European Parliament is expected to vote during the October II plenary session on the text agreed in trilogue.

Tailoring prudential policy to bank size. The application of proportionality in the US and euro area

13-10-2021

All jurisdictions tailor their prudential policies to bank size, with generally more complex – though not necessarily more stringent – requirements for larger banks. This paper compares such policies in the euro area and United States, in the context of the differences in banking system structures and legal frameworks. There are vastly more stand-alone smaller banks and credit unions in the US than in the euro area. The US approach to prudential requirements is generally more differentiated by bank ...

All jurisdictions tailor their prudential policies to bank size, with generally more complex – though not necessarily more stringent – requirements for larger banks. This paper compares such policies in the euro area and United States, in the context of the differences in banking system structures and legal frameworks. There are vastly more stand-alone smaller banks and credit unions in the US than in the euro area. The US approach to prudential requirements is generally more differentiated by bank size than the euro area’s, but the US has a more uniform framework for bank crisis management and resolution. Given the permanence of cross-border fragmentation and overbanking in the euro area, further size-based policy differentiation would be ill-advised.

Autor externo

A. Lehmann, N. Véron- Bruegel

Review of the crisis management and deposit insurance framework -Summary of some related issues

11-10-2021

In February 2021, the Commission launched a consultation that sought to gather stakeholders’ experience with the current crisis management and deposit insurance framework as well as their views on the revision of the framework. The results of that consultation were published in a summary report. As the experience with the application of the current framework indicates that some adjustments may be warranted, this briefing summarises some of the underlying issues.

In February 2021, the Commission launched a consultation that sought to gather stakeholders’ experience with the current crisis management and deposit insurance framework as well as their views on the revision of the framework. The results of that consultation were published in a summary report. As the experience with the application of the current framework indicates that some adjustments may be warranted, this briefing summarises some of the underlying issues.

Public hearing with A. Enria, Chair of the ECB Supervisory Board ECON on 14 October 2021

11-10-2021

This note is prepared in view of a regular public hearing with the Chair of the Supervisory Board of the European Central Bank (ECB), Andrea Enria, which will take place on 14 October 2021. The briefing addresses: 1) Emerging risks in the banking group, as presented to the Eurogroup, 2) results of EBA’s and ECB’s 2021 stress test exercises, 3) the Basel Committee report on early lessons from the Covid-19 pandemic on the Basel reforms, 4) the ECB report on sanctioning activities, 5) the ECB Supervisory ...

This note is prepared in view of a regular public hearing with the Chair of the Supervisory Board of the European Central Bank (ECB), Andrea Enria, which will take place on 14 October 2021. The briefing addresses: 1) Emerging risks in the banking group, as presented to the Eurogroup, 2) results of EBA’s and ECB’s 2021 stress test exercises, 3) the Basel Committee report on early lessons from the Covid-19 pandemic on the Basel reforms, 4) the ECB report on sanctioning activities, 5) the ECB Supervisory Banking Statistics for the first quarter 2021, and 6) summaries of external papers on long-term effects of the pandemic on the banking sector.

Did the pandemic lead to structural changes in the banking sector?

11-10-2021

We discuss the main structural changes triggered by Covid19 in banking. Direct consequences include: the impact of the lockdown on remote shopping and telework, lower cash usage and a further shift towards innovative payment methods, the downturn suffered by the economy and bank borrowers. Indirect consequences (partly reinforcing pre-existing trends) include: the further development of payment services provided by non-bank competitors, an acceleration in bank digitalisation, a rise in cyber-attacks ...

We discuss the main structural changes triggered by Covid19 in banking. Direct consequences include: the impact of the lockdown on remote shopping and telework, lower cash usage and a further shift towards innovative payment methods, the downturn suffered by the economy and bank borrowers. Indirect consequences (partly reinforcing pre-existing trends) include: the further development of payment services provided by non-bank competitors, an acceleration in bank digitalisation, a rise in cyber-attacks, a drop in the value of real estate collateral.

Autor externo

Andrea RESTI

Consumer Credit Directive

05-10-2021

Consumer credit is a type of loan allowing consumers to purchase consumer goods and services for which they do not have the funds. It is regulated at national and EU level. The Consumer Credit Directive (CCD), in force since 2008, is the relevant EU-level legislation. The CCD has undergone several revisions over the past decade, yet growing digitalisation, insufficient harmonisation and issues affecting consumer protection, among other things, have prompted the Commission to publish a proposal for ...

Consumer credit is a type of loan allowing consumers to purchase consumer goods and services for which they do not have the funds. It is regulated at national and EU level. The Consumer Credit Directive (CCD), in force since 2008, is the relevant EU-level legislation. The CCD has undergone several revisions over the past decade, yet growing digitalisation, insufficient harmonisation and issues affecting consumer protection, among other things, have prompted the Commission to publish a proposal for a new directive. This proposal brings crowdfunding into the scope of the CCD, expands and clarifies the definitions, and adds new articles relative to, among other things, new obligations for creditors, tying and bundling practices, ancillary services, advisory services, unsolicited credit sale, conduct of business obligations for creditors and requirements for their staff. The proposal is part of the Commission's New Consumer Agenda aimed at updating the overall strategic framework of EU consumer policy. The proposal is currently examined by the co-legislators. Within the European Parliament, the file has been assigned to the IMCO committee. At the moment, no date has been announced for the publication of a draft report. First edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

ECB monetary policy: Strategic review

01-10-2021

In July 2021, the European Central Bank (ECB), the central bank of the 19 European Union countries that have adopted the euro, completed its first monetary policy strategic review for 18 years. The key change, after 18 months of consultation, was a new interpretation of price stability (the ECB's primary objective) as a symmetric inflation rate of 2 % over the medium term. The aim of this year's review was to adapt monetary policy and central banking to broader macroeconomic trends, such as digitalisation ...

In July 2021, the European Central Bank (ECB), the central bank of the 19 European Union countries that have adopted the euro, completed its first monetary policy strategic review for 18 years. The key change, after 18 months of consultation, was a new interpretation of price stability (the ECB's primary objective) as a symmetric inflation rate of 2 % over the medium term. The aim of this year's review was to adapt monetary policy and central banking to broader macroeconomic trends, such as digitalisation, globalisation and demographic change, while also giving consideration to the implications of climate change and the carbon transition, in line with the EU's climate goals and objectives. The result will have substantial implications for the primary objective (price stability), for the ECB's monetary policy assessment and for its monetary policy operational framework. In short, the revised monetary policy strategy brings the ECB's overall strategic orientation closer to its central bank peers, shifting away from curbing high inflation towards ensuring it does not dip too low, while also building climate considerations into the policy framework.

Próximos actos

25-10-2021
European Gender Equality Week - October 25-28, 2021
Otro acto -
FEMM AFET DROI SEDE DEVE BUDG CONT ECON EMPL ITRE TRAN AGRI PECH CULT JURI PETI
25-10-2021
Ninth meeting of the Joint Parliamentary Scrutiny Group on Europol, 25-26 October
Otro acto -
LIBE
26-10-2021
Investment Policy and Investment Protection Reform
Audiencia -
INTA

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