INSIGHT EU EURO & FINANCE Telegram 6 August 2017 (summer break weekly)


Our telegram headlines today*: 

Summer Recess Edition: 

# INTERCHANGE FEES: 

  • Antitrust: EU Commission sends supplementary Statement of Objections to Visa on inter-regional interchange fees +++ 

# BANKING UNION: 

  • State aid: EU Commission approves prolongation of the Polish resolution scheme for cooperative and small commercial banks +++ 
  • State aid: EU Commission approves prolongation of Polish credit union liquidation scheme +++ 
  • State aid: EU Commission approves the re-introduction of the Danish resolution scheme for small banks +++ 

# EBA

  • European Commission starts assessment of Member States' applications to host the European Medicines Agency and the European Banking Authority
  • EU Council: 23 cities offer to host UK-based EU agencies
  • EBA publishes a Discussion Paper on its approach to FinTech
  • EBA consults on fraud reporting requirements under PSD2
  • EBA updates list of public sector entities for the calculation of capital requirements
  • EBA issues Opinion on measures to address macroprudential risk
  • Latest Q&A by the European Banking Authority

# ECB

  • Latest publications by the ECB
    • Sources of the small firm financing premium: evidence from euro area banks
    • The political economy of fiscal transparency and independent fiscal councils
    • How do professional forecasters assess the risks to inflation?
    • Lower interest rates and sectoral changes in interest income
    • Recent drivers of euro area equity prices
    • ECB Economic Bulletin, Issue 5 / 2017
    • Convergence and adjustment in the Baltic States
    • The composition of public finances in the euro area
    • CON/2017/28 Opinion on access to the central credit register and the register of bank accounts
    • CON/2017/28 Opinion on access to the central credit register and the register of bank accounts
    • ECB/2017/19 Guideline (EU) 2017/1404 of the ECB of 23 June 2017 amending Guideline ECB/2012/13 on TARGET2-Securities
    • ECB/2017/20 Decision (EU) 2017/1403 of the ECB of 23 June 2017 amending Decision ECB/2012/6 on the establishment of the TARGET2-Securities Board
    • ECB: Decisions taken by the Governing Council of the ECB (in addition to decisions setting interest rates)
  • ECB: Letter from Danièle Nouy, Chair of the Supervisory Board, to Mr Urtasun and Mr Giegold, MEPs, with respect to a credit institution under ECB supervision
  • MEP Question to the ECB - Printing of banknotes in EU countries - PE 609.308v01-00 - Committee on Economic and Monetary Affairs

# CAPITAL REQUIREMENTS

  • EU Commission Answer - Eligible assets for covered bonds under Article 129 of the Capital Requirements Regulation - E-003949/2017

# RATING AGENCIES

  • EU Commission Answer - Rating agencies and the EU (II) - E-003971/2017

# EIOPA

  • EIOPA publishes monthly technical information for Solvency II relevant Risk Free Interest Rate Term Structures – end-July 2017
  • Monthly update of the symmetric adjustment of the equity capital charge for Solvency II - July 2017

# IMF

  • IMF Working Paper No. 17/181 : Back to the Future: The Nature of Regulatory Capital Requirements
  • IMF Working Paper No. 17/182 : Structural Reforms and External Rebalancing
  • IMF Working Paper No. 17/183 : Corporate Investment and the Real Exchange Rate
  • IMF Working Paper No. 17/184 : The Nonlinear Interaction Between Monetary Policy and Financial Stress
  • IMF: Negative Interest Rate Policies—Initial Experiences and Assessments

# BIS

  • BIS: Regulatory approaches to enhance banks' cyber-security frameworks
  • BSI: FSI Insights on policy implementation series launched; first papers focus on proportionality, cyber-risk
  • BIS: Proportionality in banking regulation: a cross-country comparison
  • Dimitar Radev: Recent achievements in resolving Bulgaria's banking sector issues
  • Dimitar Bogov: Payment systems and market infrastructures
  • Maja Kadievska-Vojnovik: Drivers of European Payment Integration - Innovations and Cooperation (opening speech)
  • Sharon Donnery: The macro-financial outlook for Ireland
  • Sharon Donnery: Financial markets and institutions - collaboration and knowledge dissemination
  • Vitas Vasiliauskas: Should macroprudential policy target real estate prices?

# INDICATORS

  • June 2017 compared with May 2017 - Industrial producer prices down by 0.1% in euro area - Down by 0.2% in EU28

# EU COMMISSION REGISTER

  • DG FISMA
    • COMMISSION DELEGATED REGULATION (EU) …/... amending Regulation (EU) No 575/2013 of the European Parliament and of the Council as regards the waiver on own funds requirements for certain covered bonds
    • COMMISSION IMPLEMENTING REGULATION (EU) …/... laying down a standardised presentation format for the insurance product information document

# EU COUNCIL REGISTER

  • St 1765 2017 Init Meeting of the Financial Services Committee - Brussels, 6 September 2017, 9h00 - Provisional agenda
  • St 11185 2017 Init Directive (EU) 2017/828 of the European Parliament and of the Council of 17 May 2017 amending Directive 2007/36/EC as regards the encouragement of long-term shareholder engagement
  • St 11565 2017 Init Recommendation for a Council Implementing Decision imposing a fine on Austria for manipulation of debt data in Land Salzburg Legal aspects of the procedure before the Council
  • St 11595 2017 Init OPINION OF THE EUROPEAN SYSTEMIC RISK BOARD of 19 July 2017 regarding Finnish notification of a stricter national measure based on Article 458 of Regulation (EU) No 575/2013 of the European Parliament and of the Council on prudential requirements for credit institutions and investment firms (ESRB/2017/3)


*Note 

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