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Insurance recovery and resolution directive
In 2020, the Commission launched a review of the Solvency II Directive, the EU's legal prudential regulatory framework for (re-)insurance companies, which entered into force in 2016. As one output of the review, the Commission made a proposal in September 2021 for a new directive establishing a framework for recovery and resolution of insurance companies – the 'IRRD proposal'. The IRRD proposal would establish harmonised recovery and resolution tools and procedures, with enhanced cross-border cooperation ...
Unione bancaria
L'Unione bancaria è basata su una proposta presentata dalla Commissione europea nel 2012, alcuni anni dopo l'inizio della grave crisi finanziaria che ha colpito l'UE. La principale innovazione è consistita nel trasferire la competenza per la vigilanza quotidiana delle maggiori banche nella zona euro dal livello nazionale al livello europeo. A partire da quel momento, alla Banca centrale europea (BCE) sono stati conferiti sia compiti di politica monetaria sia funzioni di vigilanza, con l'obbligo di ...
Excessive and concentrated exposures to third-country central counterparties
On 7 December 2022, the European Commission made two proposals to amend EU legislation on derivative markets. The objective is to reduce the excessive and concentrated exposure of EU financial institutions to third-country central counterparties (CCPs). CCPs are clearing platforms that mitigate counterparty risks on derivative instruments by demanding collateral. Among other things, the proposals would require EU financial institutions to retain a portion of mandatory CCP derivative trading, to be ...
Esenzione più rapida e sicura delle ritenute alla fonte in eccesso ("FASTER")
Nel giugno 2023 la Commissione ha presentato una proposta relativa al sistema FASTER al fine di rendere le procedure di ritenuta alla fonte nell'UE più efficienti e sicure per gli investitori transfrontalieri e le amministrazioni fiscali degli Stati membri, a vantaggio dell'Unione dei mercati dei capitali dell'UE. Per l'adozione della direttiva il Consiglio deve votare all'unanimità, previa consultazione del Parlamento. La votazione del Parlamento sulla sua relazione (non vincolante) è prevista per ...
The Next Goal: euro area banking integration
In its first ten years (2014-2023), the banking union was successful in its prudential agenda but failed spectacularly in its underlying objective: establishing a single banking market in the euro area. This goal is now more important than ever, and easier to attain than at any time in the last decade. To make progress, cross-border banks should receive a specific treatment within general banking union legislation. Suggestions are made on how to make such regulatory carve-out effective and legally ...
Capital markets union: Overview and state of play
The capital markets union (CMU) is an EU political project aimed at 'de-fragmenting' the markets for corporate financing. The primary objective is to ensure that firms with comparable characteristics obtain comparable financing conditions – especially as regards costs and volumes – regardless of the Member State in which they are located. The objective to de-fragment capital markets is influenced by the context of European monetary union and the single market for goods and services; fragmented financial ...
Economic Dialogue with the other EU Institutions under the European Semester Cycles during the 9th legislative term - State of play October 2023
This document provides an overview of Economic Dialogues with the other institutions of the European Union that has taken place in the competent committee(s) of the European Parliament since September 2019 under the European Semester for economic policy coordination. It also lists the Recovery and Resilience Dialogues with the European Commission as undertaken by the competent committee(s) since the entry of force of the Recovery and Resilience Facility in 2021. It also includes an overview of the ...
Following the Commision’s adoption of the Action plan on Sustainable Finance in 2018 with the aim to foster investment in sustainable projects and incorporate sustainability in financial advice, the SFDR was adopted by the European Parliament and the Council in November 2019. It aims to provide investors who seek to put their money into companies and projects focusing on sustainable development with the necessary information. Furthermore, the SFDR allows investors to assess the integration of sustainability ...
La Banca europea per gli investimenti
La Banca europea per gli investimenti (BEI) promuove gli obiettivi dell'Unione europea fornendo finanziamenti, garanzie e consulenza a lungo termine in relazione a progetti pertinenti. La BEI sovvenziona progetti sia all'interno che all'esterno dell'UE. I suoi azionisti sono gli Stati membri dell'UE. La BEI rappresenta l'azionista principale del Fondo europeo per gli investimenti (FEI) e le due organizzazioni insieme costituiscono il Gruppo BEI.
Banking union: Overview and state of play
The banking union is a regulatory framework that establishes a single prudential rulebook for banks, and – for banks the failure of which it is considered would have a significant impact – a single supervisor and a Single Resolution Fund. Created as a policy response to the 2007-2008 banking crisis, banking union is essential for European monetary union and the level playing field in the EU single market for goods and services. The lessons learned during the banking crisis were a key foundation for ...