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Replacement benchmarks for financial benchmarks in cessation

30-11-2020

The pricing of many financial instruments and contracts depends on the accuracy and integrity of (financial) benchmarks, i.e. indices, by reference to which the amounts payable under such financial instruments or contracts, or the value of certain financial instruments, are determined. The anticipated discontinuation of such a benchmark (LIBOR) after the end of 2021 has created fears that it could lead to disruption in the internal market, given that the Benchmarks Regulation ((EU) 2016/1011) does ...

The pricing of many financial instruments and contracts depends on the accuracy and integrity of (financial) benchmarks, i.e. indices, by reference to which the amounts payable under such financial instruments or contracts, or the value of certain financial instruments, are determined. The anticipated discontinuation of such a benchmark (LIBOR) after the end of 2021 has created fears that it could lead to disruption in the internal market, given that the Benchmarks Regulation ((EU) 2016/1011) does not provide for mechanisms to organise the orderly discontinuation of systemically important benchmarks in the EU. That is why the Commission has proposed to amend the said regulation. The Council adopted its negotiating mandate on 6 October, while the European Parliament's Economic and Monetary Affairs Committee (ECON) adopted its report on 19 November 2020, and also voted to open trilogue negotiations with the Council.

Digital Services Act - Pre-legislative synthesis of national, regional and local positions on the European Commission's initiative

26-11-2020

This briefing forms part of an EPRS series offering syntheses of the pre-legislative state of play and consultation on key European Commission priorities during the current five-year term. It summarises the state of affairs in the relevant policy field, examines how existing policy is working on the ground, and, where possible, identifies best practice and ideas for the future on the part of governmental organisations at all levels of European system of multilevel governance. EPRS analysis of the ...

This briefing forms part of an EPRS series offering syntheses of the pre-legislative state of play and consultation on key European Commission priorities during the current five-year term. It summarises the state of affairs in the relevant policy field, examines how existing policy is working on the ground, and, where possible, identifies best practice and ideas for the future on the part of governmental organisations at all levels of European system of multilevel governance. EPRS analysis of the positions of partner organisations at European, national, regional and local levels suggests that they would like the following main considerations to be reflected in discussion of the forthcoming Digital Services Act (DSA): Modernisation of EU legislation on platforms Regional and national stakeholders stress that it is high time to update and harmonise EU rules on online platforms, pointing out that the DSA should address the legal uncertainty and administrative burden stemming from the fragmentation of Union legislation. Broader scope for the DSA Local actors, especially cities, stress that the legislative proposal should tackle issues arising from the offering of online services that do not comply with local regulations, for instance on health, safety, housing taxation (e.g. short-term holiday rental) and urban mobility. Stronger enforcement and cooperation Several cities call on the Commission to clarify exemptions to the principle of origin and to include under EU law explicit provisions to supply the country of destination's competent authorities with all relevant information and data necessary to enforce applicable regulations. Regulation of gatekeepers Governmental organisations at regional and national levels share the view that there is a need to impose special rules on online gatekeepers. They therefore strongly support the introduction of ex-ante obligations on platforms in a gatekeeper position.

InvestEU programme: The EU's new investment support scheme

25-11-2020

The InvestEU programme is a single investment support mechanism for the 2021-2027 period. It would bring together various EU financial instruments for internal policies that are currently supported by different funds and programmes of the EU budget. In May 2020, the European Commission put forward a revised proposal for InvestEU, reflecting a partial agreement reached by Parliament and Council in 2019 and incorporating new elements to take account of the impact of the coronavirus crisis. On 4 November ...

The InvestEU programme is a single investment support mechanism for the 2021-2027 period. It would bring together various EU financial instruments for internal policies that are currently supported by different funds and programmes of the EU budget. In May 2020, the European Commission put forward a revised proposal for InvestEU, reflecting a partial agreement reached by Parliament and Council in 2019 and incorporating new elements to take account of the impact of the coronavirus crisis. On 4 November 2020, the Council adopted its partial mandate for the interinstitutional negotiations. Parliament adopted a mandate for negotiations during the November I 2020 plenary part-session. The structuring of InvestEU in policy windows and its contribution to the European Green Deal and a just transition are among the points to be agreed by the co-legislators. The financial envelope of the programme depends on the outcome of the negotiations on the EU's next multiannual financial framework. First edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Implementation of the Stability and Growth Pact under pandemic times

25-11-2020

This document provides an overview of key developments under the preventive and corrective arms of the Stability and Growth Pact on the basis of the latest Council decisions and recommendations in the framework of the Stability and Growth Pact and the latest European Commission economic forecast. This document is regularly updated.

This document provides an overview of key developments under the preventive and corrective arms of the Stability and Growth Pact on the basis of the latest Council decisions and recommendations in the framework of the Stability and Growth Pact and the latest European Commission economic forecast. This document is regularly updated.

When and how to deactivate the SGP general escape clause?

25-11-2020

This paper provides a framework for considering when and how to deactivate the general escape clause of the Stability and Growth Pact (SGP). That framework takes into account the goals of the SGP, the desire to avoid pro-cyclical policy influences that might stifle Europe’s economic recovery, and the necessity not to endanger fiscal sustainability in the medium term. The framework also considers the variation in performance across countries and the indicators that might be used to map transitional ...

This paper provides a framework for considering when and how to deactivate the general escape clause of the Stability and Growth Pact (SGP). That framework takes into account the goals of the SGP, the desire to avoid pro-cyclical policy influences that might stifle Europe’s economic recovery, and the necessity not to endanger fiscal sustainability in the medium term. The framework also considers the variation in performance across countries and the indicators that might be used to map transitional arrangements.

Autor externo

Erik JONES

Thematic Digest: “The role for the European Semester in the recovery plan”

24-11-2020

At the request of the ECON Committee, four papers were commissioned to external experts on the linkages between the Recovery and Resilience Facility (RRF) and the European Semester (ES), as well as on the role of the European Parliament in the the RRF. In particular, experts were asked to assess whether and how the ES constitutes a suitable governance framework for the recovery measures, notably on: •the identification of the EU priority areas; •the analysis, the adoptions and the monitoring of ...

At the request of the ECON Committee, four papers were commissioned to external experts on the linkages between the Recovery and Resilience Facility (RRF) and the European Semester (ES), as well as on the role of the European Parliament in the the RRF. In particular, experts were asked to assess whether and how the ES constitutes a suitable governance framework for the recovery measures, notably on: •the identification of the EU priority areas; •the analysis, the adoptions and the monitoring of the national recovery plans; and •the performance of the European Parliament (EP) scrutiny and accountability role.

Policy Departments’ Monthly Highlights - November 2020

20-11-2020

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

The Monthly Highlights publication provides an overview, at a glance, of the on-going work of the policy departments, including a selection of the latest and forthcoming publications, and a list of future events.

The Financial Stability Board (FSB). An overview of the work for 2020

20-11-2020

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.

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.

Guidance by the FSB, BCBS and IAIS on COVID related measures

20-11-2020

This briefing gives an overview of measures proposed by the Financial Stability Board, the Basel Committee on Banking Supervision and the International Association of Insurance Supervisors to address the COVID-19 pandemic related financial consequences.

This briefing gives an overview of measures proposed by the Financial Stability Board, the Basel Committee on Banking Supervision and the International Association of Insurance Supervisors to address the COVID-19 pandemic related financial consequences.

EU/EA measures to mitigate the economic, financial and social effects of coronavirus State-of-play 20 November 2020

20-11-2020

This document compiles information, obtained from public sources, on the measures proposed and taken at the EU or Euro Area level to mitigate the economic and social effects of Covid19. It will be regularly updated, following new developments.

This document compiles information, obtained from public sources, on the measures proposed and taken at the EU or Euro Area level to mitigate the economic and social effects of Covid19. It will be regularly updated, following new developments.

Futuros eventos

30-11-2020
EPRS online Book Talk | How to own the room (and the zoom) [...]
Outro evento -
EPRS
30-11-2020
Hearing on Future-proofing the Tourism Sector: Challenges and Opportunities Ahead
Audição -
TRAN
30-11-2020
LIBE - FEMM Joint Hearing: Combating Gender based Violence: Cyber Violence
Audição -
FEMM LIBE

Parceiros