Malta has taken on the Presidency of the Council of the European Union and has published its work programme.
In relation to financial services and EU Banking Union the work programme states that the Maltese Presidency will:
- push forward the discussions on the Action Plan on Building a Capital Markets Union and will aim to finalise discussions with the European Parliament on the common rules on securitisation and creating a European framework for simple, transparent and standardised securitisation;
- organise meetings with the European Parliament to negotiate the revision of the European Venture Capital and European Social Entrepreneurship Funds legislation;
- make progress on the legislative proposals issued in November amending the Capital Requirements Directive IV, the Capital Requirements Regulation, the Bank Recovery and Resolution Directive and the Single Resolution Mechanism Regulation (our blog entry is here);
- continue to work on the legislative proposal regarding recovery and resolution of central counterparties (our blog entry is here);
- initiate work on the review of the European Market Infrastructure Regulation which will be issued in Q1 2017;
- continue work at a technical level on the European Deposit Insurance Scheme;
- seek to conclude work on the legislative proposal amending the Fourth Anti-Money Laundering Directive.