The European Parliament’s Economic and Monetary Affairs Committee has published a report on the proposed Regulation amending the SEPA Migration Regulation. The report contains a draft European Parliament legislative resolution, and an annex explaining the background to the proposed Regulation. The annex also notes that for reasons of continuity and legal certainty, the proposed Regulation
The European Parliament has published a new procedure file on the proposed Regulation amending the SEPA Migration Regulation. The procedure file indicates that the Parliament will consider the proposal in its plenary session to be held from 3 to 6 February 2014.
View Migration to union-wide credit transfers and direct debits, 22 January 2014
The Council of the EU has published a press release announcing that the Committee of Permanent Representatives (COREPER) has approved the final compromise text relating to the European Commission’s proposal for a Regulation amending the SEPA Migration Regulation.
View Extension of deadline for SEPA migration: Council confirms deal with EP, 22 January 2014
The Council of the EU has published an “I” item note relating to the European Commission’s proposal for a Regulation amending the Single Euro Payments Area (SEPA) Migration Regulation. The proposed Regulation is designed to allow for an extra six months for banks and other payment service providers to align themselves with the SEPA payment
The European Commission has published the text of the delegated Regulation it has adopted setting out regulatory technical standards (RTS) relating to the consistent application of the calculation methods under Article 6(2) of the Financial Conglomerates Directive as required by Article 49(6) of the Capital Requirements Regulation and Article 150 of the Capital Requirements Directive
The Basel Committee on Banking Supervision has issued a paper setting out sound practices to improve banks’ capital planning processes in an effort to foster overall improvement in the capital planning processes of banks required to implement the Basel III framework. The paper provides an overview of four fundamental components of a sound capital planning
IntercontinentalExchange Group has announced that ICE Benchmark Administration (IBA) will become the new administrator of the London Interbank Offered Rate (LIBOR). The FCA confirmed formal authorisation to IBA to administer LIBOR effective from 1 February 2014. IBA replaces BBA LIBOR Limited, which had been performing the role of interim benchmark administrator for LIBOR since April
On 24 October 2013, the Bank of England (BoE) announced a number of changes to its approach to providing liquidity insurance to the banking system. The BoE has now issued a Market Notice that provides further details about two of those changes – the launch of new Indexed Long-Term Repo operations and the Contingent Term
The European Payments Council (EPC) has published the final version of its white paper on mobile wallet payments, which focuses on the use of mobile wallets as an enabler for mobile payments in the Single Euro Payments Area (SEPA). Among other things, the white paper includes:
The European Parliament has updated its procedure file on the proposed Bank Recovery and Resolution Directive indicating that it will now consider the proposal at its 14 to 17 April 2014 plenary session as opposed to its previously scheduled 24 to 27 February 2014 session.
View Credit institutions and investment firms: framework for recovery and