European Commission (EC)
Dealers and legislators left disappointed by CPSS-Iosco recommendations
Proposals on risk management by CCPs should be more detailed, say participants
Risk roulette on eurozone scenarios
The European Union and International Monetary Fund agreed a €750 billion emergency loan package in early May, aimed at averting a sovereign default and wider crisis across the eurozone. Nonetheless, banks have been preparing for the worst, stress testing…
Third countries dominate AIFM negotiations
The question of how to deal with funds and managers based outside the European Union (EU) is proving the main dividing point in negotiations over the alternative investment fund managers (AIFM) directive.
Brussels calls for European ratings supervisor
European Commission proposes new body to oversee all credit ratings agencies operating in the European Union; security issuers must provide information to all agencies to boost competition
Cut derivatives volumes down to size, says European Parliament report
European Parliament committee calls for a smaller derivatives market, citing "distorting" effect.
AIFM provision threatens depository banks
New EU directive ups depository bank liability and could force some banks to exit the market
New kids on the block
As the traditional retail banking giants struggle to stay afloat, a new breed is rising to the surface
Risk Europe: EU supervision package could be delayed
Creation of new European supervisory authorities is hampered by disagreements between EU parliament and council
Brussels backs bank tax to fund new resolution network
European Commission calls for a network of resolution funds to bear cost of winding down firms; cost covered through levy on lenders
Eurozone CDS spreads tighten slightly
CDS spreads come in marginally as European Central Bank confirms how much in eurozone bonds it has bought
Europe to place CDS markets under spotlight: Barnier
European commissioner Michel Barnier says legislation in works requiring credit default swaps to be registered and made fully transparent; follows criticism of investors from European leaders
Industry disappointed by lack of clout in CCP standards
Dealers complain a long-awaited draft of standards for derivatives clearing platforms fails to address key issues.
Insurers face “death by 1,000 spreadsheets” under Solvency II
Overly prudent capital requirements and excessive red tape in the Solvency II directive will paralyse the European insurance industry and kill the mutual business model, according to the Association of Mutual Insurers and Insurance Cooperatives of Europe…
Investors dispute claims sovereign downgrades were hasty
Senior EU officials may have criticised the rating agencies for reacting too aggressively to Europe’s fiscal woes, but investors say the reverse is true and the agencies remain behind the curve.
AIFM provision threatens to change the risk profile of depository banks
Article 17 of AIFM seeks to impose strict liability on depository banks that could have far-reaching ramifications for the industry
EBF urges restraint on remuneration regulation to protect EU competition
An EBF report calls on EU governments to hold back on punitive reforms to banking bonuses because they may threaten the competitiveness of EU financial centres
Volcanic ash cloud could reduce airlines’ carbon allowances
Market experts have warned that last week’s Europe-wide flight disruptions, following the volcanic ash cloud precaution, will affect the aviation industry’s carbon allocations under the European Union’s Emissions Trading Scheme (EU ETS) from 2012.
Trade of the month: fees, profit and risk in structured products
The success of any structured product issued in the retail market is partly determined by the fee structure, in which fees are generally taken in three ways – first in the commission level paid to the broker or adviser, second in the the fee charged by…
CBI: Quarter of UK power plants face closure
Independent business lobby group the Confederation of British Industry (CBI) has warned the latest draft of the European Union Directive for Industrial Emissions could force at least a quarter of the UK’s power plants to close, which would raise a major…
