7

risultato/i

Parola(e)
Tipo di pubblicazione
Settore di intervento
Autore
Parole chiave
Data

Loan servicers and buyers and recovery of collateral

29-11-2018

The two IAs accompanying the proposal are similar in the knowledge base underpinning the work and the quality of data and sources. However, there seem to be qualitative differences in the way research, analysis and consultation activities were presented. In this respect, the IA on secondary markets has more room for improvement than the one on the out-of-court enforcement procedure The latter complies more fully with the Better Regulation Guidelines, for example in terms of analysis of effectiveness ...

The two IAs accompanying the proposal are similar in the knowledge base underpinning the work and the quality of data and sources. However, there seem to be qualitative differences in the way research, analysis and consultation activities were presented. In this respect, the IA on secondary markets has more room for improvement than the one on the out-of-court enforcement procedure The latter complies more fully with the Better Regulation Guidelines, for example in terms of analysis of effectiveness and efficiency, quantification, attention to social impacts and impacts on SMEs.

Level-2 measures under the new Securitisation framework

29-08-2018

This briefing focuses on the state of play of the implementing measures under the new Securitisation Regulation (EU) 2017/2402 and the amending Regulation (EU) 2017/2401 on the treatment of regulatory capital requirements for credit institutions that originate, sponsor or invest in securitisations. Items for discussion include the draft measures that have been prepared by the European Supervisory Agencies, and those currently under preparation, including – for the European Securities and Markets ...

This briefing focuses on the state of play of the implementing measures under the new Securitisation Regulation (EU) 2017/2402 and the amending Regulation (EU) 2017/2401 on the treatment of regulatory capital requirements for credit institutions that originate, sponsor or invest in securitisations. Items for discussion include the draft measures that have been prepared by the European Supervisory Agencies, and those currently under preparation, including – for the European Securities and Markets Authority (ESMA) – technical standards on information in the STS notification and information to be provided in the application for the authorisation of a third party verifying STS compliance, and – for the European Banking Authority (EBA) – on the homogeneity of asset classes and on risk retention.

Common rules and new framework for securitisation

25-01-2018

In autumn 2015, the European Commission proposed a regulation on securitisation, in the context of the Capital Markets Union initiative. The proposal followed a consultation with stakeholders and took into account initiatives at international (BCBS-IOSCO) and European levels (EBA). The proposal replaces existing rules relating to due diligence, risk retention, transparency and supervision with a uniform regime. It provides a framework to identify simple, transparent and standardised (STS) securitisations ...

In autumn 2015, the European Commission proposed a regulation on securitisation, in the context of the Capital Markets Union initiative. The proposal followed a consultation with stakeholders and took into account initiatives at international (BCBS-IOSCO) and European levels (EBA). The proposal replaces existing rules relating to due diligence, risk retention, transparency and supervision with a uniform regime. It provides a framework to identify simple, transparent and standardised (STS) securitisations and to allow investors to analyse associated risks. The proposal came as a package with a second proposal, to amend the Capital Requirements Regulation applicable to credit institutions and investment firms in respect of securitisation. During the October II plenary session, the European Parliament is due to vote on the compromise agreement struck with the Council in May 2017. This briefing further updates an earlier edition, of July 2016: PE 586.624. See also our updated briefing on the related proposal: PE 608.778.

Improving the financial literacy of European consumers

20-05-2015

The 2008 financial crisis highlighted consumers’ low level of understanding of financial products, which they often deemed too complex. It therefore exposed the lack of financial literacy among consumers, financial literacy being a combination of awareness, knowledge, skill, attitude and behaviour necessary to make sound financial decisions and achieve financial wellbeing. Earlier this year, the Swiss National Bank decision to discontinue its currency ceiling, leading to the sudden leap in value ...

The 2008 financial crisis highlighted consumers’ low level of understanding of financial products, which they often deemed too complex. It therefore exposed the lack of financial literacy among consumers, financial literacy being a combination of awareness, knowledge, skill, attitude and behaviour necessary to make sound financial decisions and achieve financial wellbeing. Earlier this year, the Swiss National Bank decision to discontinue its currency ceiling, leading to the sudden leap in value of the Swiss franc (CHF) – with a direct impact on all CHF-denominated loans in the European Union – again revealed a persistent lack of financial literacy among certain consumers, as they were unable to predict this financial risk and consequently to fulfil their loan obligations. A 2012 Eurobarometer survey showed that many consumers do not receive advice when purchasing financial product or services and that 52% of them tend to opt for the first product they see when obtaining a current bank account or a credit card. Major hurdles to financially sound behaviour appear to lie in individuals' psychological habits, culture, social and economic background. Levels of financial literacy can be improved directly through financial education, as well as indirectly by ensuring a good level of consumer protection in the financial sector and enabling consumers to make informed choices with appropriate advice, standardised information and comparison tools for financial products. Research shows that most people seem to learn through experience (or even more through adverse experience), but consumers also have a tendency to forget fast, making it necessary to repeat lessons in various forms.

State Aid to Banks and Credit for SMEs: Is There a Need for Conditionality?

16-02-2015

This study assesses whether a condition which requires ailing banks or groups of ailing banks that receive State aid to maintain or to provide additional access to finance small and medium-sized enterprises legally justified and economically beneficial. The relevant cases have been examined and the link to SME lending has been analysed in a qualitative and a quantitative way. An overview table of the cases analysis is provided in the Annex. This study was prepared by Policy Department A at the request ...

This study assesses whether a condition which requires ailing banks or groups of ailing banks that receive State aid to maintain or to provide additional access to finance small and medium-sized enterprises legally justified and economically beneficial. The relevant cases have been examined and the link to SME lending has been analysed in a qualitative and a quantitative way. An overview table of the cases analysis is provided in the Annex. This study was prepared by Policy Department A at the request of the Committee on Economic and Monetary Affairs (ECON).

Autore esterno

Rym AYADI (CEPS), Willem Pieter DE GROEN (CEPS) and Peter THYRI (Vienna University of Business Economics, Austria)

Economic Dialogue and Exchange of Views with Spain - 28 January 2014

15-01-2014

This paper gives an overview of recent economic developments, public finances, addressing macroeconomic imbalances and financial stability in Spain.

This paper gives an overview of recent economic developments, public finances, addressing macroeconomic imbalances and financial stability in Spain.

Finance Access of SMEs, Monetary Dialogue, July 2013

13-12-2013

The notes in this compilation examine the challenges stemming from the accessto finance of SMEs and discuss available policy options to address the problem. The notes include a review of recent proposals put forward by the ECB, the European Investment Bank and the European Commission to support private lending to small and medium size enterprises (SMEs). Experts broadly agreed that the current fragmentation in financial markets is largely the result of severe market failures (externalities) in the ...

The notes in this compilation examine the challenges stemming from the accessto finance of SMEs and discuss available policy options to address the problem. The notes include a review of recent proposals put forward by the ECB, the European Investment Bank and the European Commission to support private lending to small and medium size enterprises (SMEs). Experts broadly agreed that the current fragmentation in financial markets is largely the result of severe market failures (externalities) in the allocation of key inputs, including finance. High unemployment and externalities would argue in favour of public intervention for a greater and easier access to finance for SMEs. However, past experiences have shown that without repairing bank balance sheets and resuming economic growth, targeted initiatives to help SME financing - particularly in distress EU countries - will have limited success. Ultimately, it is the improvement in financial markets and the return of trust that will make the difference. To this purpose, a rapid conclusion of a full and genuine banking union was considered to be key.

Autore esterno

Zsolt DARVAS (Bruegel, Brussels, Belgium), Karl WHELAN (University College Dublin), Stefan COLLIGNON (Scuola Superiore Sant'Anna, Pisa and Centro Europa Ricerche - CER, Rome, Italy, with research assistance performed by Piero ESPOSITO), Guillermo DE LA DEHESA (Centre for Economic Policy Research - CEPR) and Ansgar BELKE (IZA Bonn and University of Duisburg-Essen, Germany)

Prossimi eventi

25-01-2021
Public Hearing on "Gender aspects of precarious work"
Audizione -
FEMM
26-01-2021
Public hearing on Co-management of EU fisheries at local level
Audizione -
PECH
26-01-2021
The impact of Brexit on the level playing field in the area of taxation
Audizione -
FISC

Partner