Featured Product

    EC Vice President on Completing the Banking Union

    October 30, 2017

    During the keynote speech at the Inter-parliamentary Conference on Stability, Economic Coordination, and Governance in the EU, the EC Vice President Valdis Dombrovskis highlighted that "completing the Banking Union and the Capital Markets Union are the most immediate priorities for future reform."

    As per the EC Vice President, "we should strive to agree quickly on the remaining proposals such as the risk-reduction package of last November and the European Deposit Insurance Scheme (EDIS)." A recent EC communication on completing the Banking Union suggests a possible re-modulation of the EDIS proposal. The proposal entails introducing EDIS more gradually, with two instead of its original three phases. The first reinsurance phase of EDIS would concentrate on all liquidity support to national guarantee schemes, while the second phase would maintain the ambitions that EDIS would cover losses. Eventually we would move to 100% European system, making the move toward second stage conditional of the asset quality review.

    Mr. Dombrovskis also highlighted that EC is following, with interest, the ongoing ESRB work on Sovereign Bond-Backed Securities (SBBSs). If the technical work on this is successful, the development of such securities could facilitate the diversification of banks' sovereign portfolios, thus further weakening the bank-sovereign nexus and boosting private sector risk-sharing. Being market-driven, SBBS would not require mutualization or a change in the regulatory treatment of sovereign bonds. In conclusion, he stated that "a well-functioning and well-integrated EMU [Economic and Monetary Union] can be much more than the sum of its parts."


    Related Link: Speech

    Keywords: Europe, EU, Banking, Securities, Banking Union, Capital Markets Union, EDIS, SBBS, EC

    Related Articles
    News

    APRA to Transition to Annual Stress Testing of Large Banks in 2020

    APRA published key findings of the stress testing assessment conducted on authorized deposit-taking institutions.

    February 21, 2020 WebPage Regulatory News
    News

    EC Consults on Review of Non-Financial Reporting Directive

    EC is launched a consultation on the review of the Non-Financial Reporting Directive or NFRD (Directive 2014/95/EU, as part of its strategy to strengthen sustainable investment in Europe.

    February 20, 2020 WebPage Regulatory News
    News

    EIOPA Consults on Standards for Supervisory Reporting Under PEPP Rule

    EIOPA is consulting on the implementing technical standards for supervisory reporting and cooperation, as mandated by the Pan-European Personal Pension Product (PEPP) Regulation (Regulation 2019/1238).

    February 20, 2020 WebPage Regulatory News
    News

    ECB Report on Transfer of Liquidity from EONIA Products to €STR

    ECB published a report on the transfer of liquidity from the cash and derivatives products of the Euro Overnight Index Average (EONIA) to the Euro Short-Term Rate (€STR).

    February 19, 2020 WebPage Regulatory News
    News

    ESRB Publishes Report on Systemic Cyberattacks

    ESRB published a report that explores systemic implications of cyber incidents, such as cyberattacks.

    February 19, 2020 WebPage Regulatory News
    News

    FSB Chair Sets Out Key Deliverables for G20 Presidency of Saudi Arabia

    FSB published a letter from the Chair Randal K. Quarles to the G20 finance ministers and Central Bank governors ahead of the meetings in Riyadh on February 22-23.

    February 19, 2020 WebPage Regulatory News
    News

    CFTC Proposes Rules on Derivative Position Limits and Swap Execution

    CFTC approved a proposed rule on position limits for derivatives and a proposed rule amending requirements for certain Swap Execution Facilities and real-time reporting.

    February 19, 2020 WebPage Regulatory News
    News

    BIS Appoints Heads of Innovation Hubs in Singapore and Switzerland

    BIS announced key personnel appointments to the Innovation Hubs in Singapore and Switzerland.

    February 19, 2020 WebPage Regulatory News
    News

    BOJ Deputy Governor Speaks on Interest Rate Benchmark Reform in Japan

    The Deputy Governor of BOJ Masayoshi Amamiya spoke in Tokyo about how Japan should proceed with interest rate benchmark reform over the next two years until the end of 2021, when the discontinuation of LIBOR is expected.

    February 19, 2020 WebPage Regulatory News
    News

    OSFI Proposes New Benchmark Rate for Qualifying Uninsured Mortgages

    OSFI announced that it is considering a new benchmark rate for determining the minimum qualifying rate for uninsured mortgages.

    February 18, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 4708