This tag is associated with 9 posts

Review of the European Market Infrastructure Regulation (EMIR): Updated rules on supervision of central counterparties (CCPs) [EU Legislation in Progress]

The increasing importance of central counterparties (CCPs) and challenges such as the United Kingdom’s withdrawal from the EU call for a more comprehensive supervision of CCPs in EU and non-EU countries to secure financial market infrastructure and build confidence. Continue reading

Ranking of unsecured debt instruments in insolvency hierarchy [EU Legislation in Progress]

Written by Angelos Delivorias (1st edition), Following the global financial crisis, the European Union extensively reformed its regulatory framework for financial services. With legislation such as the Bank Recovery and Resolution Directive (BRRD), it ensures that, through mechanisms such as ‘bail-in’, the recovery or restructuring of distressed financial institutions is done without spreading to other … Continue reading

European banks [What Think Tanks are Thinking]

Written by Marcin Grajewski, European banks have come under the spotlight once again, as the unusual volatility of their share prices has raised question-marks about their health in a changing regulatory environment and about the sustainability of the euro area’s economic recovery more generally. Euro-area banks have had to adapt to new resolution rules, which … Continue reading

Reforming the structure of the EU banking sector

Written by Marcin Szczepanski The financial and economic crisis has been marked by the ‘Too big to fail’ problem – a number of financial institutions of a size large enough to pose a systemic problem to the economy required public support to continue operations. According to economic research this has led to implicit subsidies and a distortion of … Continue reading

EP strengthens transparency and accountability of single banking supervisor

On 12 September 2013 the European Parliament approved a single supervisory mechanism (SSM) for EU banks. MEPs voted on two legislative texts concerning the European Commission’s proposal to establish the SSM (EP’s consultation was required) and the amended role of the European Banking Authority (EBA) in the new supervisory structure. The Presidents of EP and … Continue reading

Toughening EU rules on market abuse

Responding to the economic crisis and recent scandals in financial institutions, the European Commission (EC) has proposed to strengthen the financial-market abuse framework. Undermining market integrity Banks have been struggling to recover from the 2008 financial crisis and trying to lose their negative image, but recent market abuse scandals (e.g. Libor manipulation and investment bankers’ … Continue reading

A single EU banking supervisory mechanism

6 language versions available in PDF format Ein einheitlicher EU Bankenaufsichtsmechanismus Un mecanismo único de supervisión bancaria de la UE Un mécanisme de surveillance bancaire unique pour L’UE Un meccanismo di vigilanza unico per il settore bancario europeo Jednolity mechanizm nadzoru bankowego UE A single EU banking supervisory mechanism Identified as a building block for … Continue reading

Regulating bankers’ bonuses

Bankers’ bonuses have been under debate with the review of the Capital Requirements Directive (CRD IV). The Directive, meant to regulate the amount of capital banks hold, already includes guidelines on the remuneration of bankers, but the European Parliament has sought to introduce a fixed cap on bankers’ variable pay proportionate to their fixed pay. … Continue reading

Tackling financial market abuse in the EU

In response to the economic crisis and recent scandals involving financial institutions, the European Commission has proposed to update and strengthen the EU’s legislative framework against market abuse. The Commission’s proposals include the replacement of the 2003 Market Abuse Directive with a Regulation on Insider Dealing and Market Manipulation. This Regulation would broaden the scope, … Continue reading

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