June 2014

The European Parliament’s Directorate General for Internal Policies: Policy Department A (Economic and Scientific Policy) has published a study giving an overview of core legislation in the areas of economic and financial services. The systematic overview consists of 14 policy areas, relevant to the European Parliament Committee on Economic and Monetary Affairs such as banking, securities markets and investment firms, market infrastructure, insurance and occupational pensions, payment services, consumer protection in financial services, the European System of Financial Supervision, Monetary Union, competition and taxation.

The International Organization of Securities Commissions (IOSCO) has published a report on risk identification and assessment methodologies for securities regulators. The report aims to provide an overview of the methods, approaches and tools that IOSCO and securities regulators have developed to identify and assess emerging and potential systemic risks.

Michel Barnier, European Commissioner for Internal Market and Services, has issued a statement on the regulation of global derivatives markets.

He states that the G20 and international standard setters have made remarkable progress over the past five years in adopting international principles for the regulation of the global derivatives markets, and that these must now be fully implemented by regulators. He believes that a final push is now required by regulators to agree how “deference” to each other’s rules will work in practice.

The European Banking Authority (EBA) has published a consultation paper on draft regulatory technical standards (RTS) to specify the conditions for the permanent and temporary uses of the standardised approach (SA) by institutions that have received permission to use the internal ratings based (IRB) approach. The main proposals within the RTS are:

The European Banking Authority has updated its questions and answers (Q&As) on the single rulebook which relate to the CRD IV package of reforms: the CRD IV Directive, the Capital Requirements Regulation and the related technical standards and guidelines developed by the EBA. The 13 updated Q&As cover netting, own funds, liquidity risk and supervisory reporting.

There has been published in the Official Journal of the EU (OJ), the European Commission Implementing Regulation laying down implementing technical standards (ITS) with regard to conditions of application of the joint decision process for institution-specific prudential requirements according to the CRD IV Directive.