IEU MONITORING: Euro & Finance Telegram 14/3/2018


Our telegram headlines today*: 

# BANKING UNION: 

  • Reducing Risk in the Banking Union: Commission presents measures to accelerate the reduction of non-performing loans in the banking sector +++ 
  • EU Commission FAQ: Action Plan on the Reduction of Non-Performing Loans in Europe +++ 
  • Remarks by EU Commission Vice President Valdis Dombrovskis on Reducing Risk in the Banking Union +++ 
  • DG FISMA Open Consultation Statutory prudential backstops addressing insufficient provisioning for newly originated loans that turn non-performing - 14 March 2018 - 9 May 2018 +++ 
  • DG FISMA Consultation: Credit servicers, credit purchasers and the recovery of collateral 14 March - 9 May 2018 +++ 
  • EU-Abgeordneter Markus Ferber (EVP/CSU) zu ausfallgefährdeten Krediten 

# EBA

  • EBA issues Opinion on measures to address macroprudential risk
  • EBA advises European Commission on the use of prudential backstops to prevent the building up of new NPLs

# EUROPEAN SEMESTER

  • Agenda of the General Affairs Council, 20/03/2018 (including European Semester)
  • EP Text adopted - European Semester for economic policy coordination: Annual Growth Survey 2018 - P8_TA-PROV(2018)0077 - Wednesday, 14 March 2018 - Strasbourg - Provisional edition
  • EP Think-tank Study - Country Specific Recommendations for 2016 and 2017 - A comparison and an overview of implementation - 12-03-2018
  • S&Ds pressure member states to raise wages and boost public investment
  • European Semester: Liberals and Democrats welcome call for structural reform to enhance European competitiveness

# ECB

  • Monetary Policy in the Euro Area - Speech by Mario Draghi, President of the ECB, The ECB and Its Watchers XIX Conference organised by the Institute for Monetary and Financial Stability
  • EU Parliament endorses Luis de Guindos as new ECB Vice-President 
  • EP Text adopted - Appointment of the Vice-President of the European Central Bank - P8_TA-PROV(2018)0071 - Wednesday, 14 March 2018 - Strasbourg - Provisional edition
  • St 6 2018 Init EUROPEAN COUNCIL DECISION appointing the Vice-President of the European Central Bank
  • S&D Euro MPs rejected Luis de Guindos for ECB and urged eurozone leaders for more transparency in the selection process
  • Die Grünen EFA. Eurogruppe verweigert mehr Demokratie bei der Ernennung des EZB-Vorstands
  • Benoît Cœuré: Making our monetary union stronger and more resilient
  • Benoît Cœuré: Financial regulation and innovation: a two-way street
  • Vítor Constâncio: Financial stability risks and macroprudential policy in the euro area
  • Peter Praet: Assessment of quantitative easing and challenges of policy normalisation
  • Yves Mersch: Interview with Luxemburger Wort
  • Letter from the ECB President to Ms Laura Agea, MEP, on aspects related to banknotes production

# EFSF

  • EFSF taps 2021 bond for €1 billion in auction

# BIS

  • BIS - Seventh BIS Research Network meeting on "Pushing the frontier of central banks' macro-modelling"
  • Global imbalances from a stock perspective. The asymmetry between creditors and debtors - BIS
  • In defence of central bank DSGE modelling - BIS
  • Andreas Dombret: Greener finance - better finance? How green should the financial world be?

# IMF

  • IMF: Working Paper No. 18/55 : The Effective Lower Bound for the Policy Rate in Euroized Economies—An Application to the Case of Albania

# EU COMMISSION REGISTER

  • DG FISMA
    • Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on credit servicers, credit purchasers and the recovery of collateral
    • Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures
    • COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE EUROPEAN COUNCIL, THE COUNCIL AND THE EUROPEAN CENTRAL BANK Second Progress Report on the Reduction of Non-Performing Loans in Europe
    • COMMISSION DELEGATED REGULATION (EU) No …/.. supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to the specification of the assessment methodology under which competent authorities permit institutions to use Advanced Measurement Approaches for operational risk
    • COMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT The development of secondary markets for non-performing loans by removing undue impediments to loan servicing by third parties and the transfer of loans (Part 1/2) And Accelerated Extrajudicial Collateral Enforcement (Part 2/2) Accompanying the document Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on credit servicers, credit purchasers and the recovery of collateral
    • COMMISSION STAFF WORKING DOCUMENT IMPACT ASSESSMENT The development of secondary markets for non-performing loans by removing undue impediments to loan servicing by third parties and the transfer of loans (Part 1/2) And Accelerated Extrajudicial Collateral Enforcement (Part 2/2) Accompanying the document Proposal for a DIRECTIVE OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on credit servicers, credit purchasers and the recovery of collateral
    • COMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT Accompanying the document Proposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures
    • COMMISSION STAFF WORKING DOCUMENT IMPACT ASSESSMENT Accompanying the document Proposal of the European Parliament and of the Council amending Regulation (EU) No 575/2013 as regards minimum loss coverage for non-performing exposures
    • COMMISSION STAFF WORKING DOCUMENT AMC Blueprint Accompanying the document COMMUNICATION FROM THE COMMISSION TO THE EUROPEAN PARLIAMENT, THE EUROPEAN COUNCIL, THE COUNCIL AND THE EUROPEAN CENTRAL BANK Second Progress Report on the Reduction of Non-Performing Loans in Europe
  • DG ECFIN
    • COMMISSION DECISION approving the Second Amendment to the Framework Partnership Agreement on the European Investment Advisory Hub between the European Union and the European Investment Bank
  • EEAS
    • Proposal for a COUNCIL DECISION on the position to be adopted, on behalf of the European Union, within the EEA Joint Committee concerning an amendment to Annex IX (Financial Services) to the EEA Agreement (EMIR Level 2 Acts)

# EU COUNCIL REGISTER

  • St 7066 2018 InitProposal for a REGULATION OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL on amending Regulation (EU) No 575/2013 as regards exposures in the form of covered bonds
  • St 7066 2018 Add 1 COMMISSION STAFF WORKING DOCUMENT IMPACT ASSESSMENT Accompanying the document Proposal for a Directive of the European Parliament and the Council on the issue of covered bonds and covered bond public supervision and amending Directive 2009/65/EC and Directive 2014/59/EU And Proposal for a Regulation of the European Parliament and the Council on amending Regulation(EU) No 575/2013
  • St 7066 2018 Add 2 COMMISSION STAFF WORKING DOCUMENT EXECUTIVE SUMMARY OF THE IMPACT ASSESSMENT Accompanying the document Proposal for a Directive of the European Parliament and the Council on the issue of covered bonds and covered bond public supervision and amending Directive 2009/65/EC and Directive 2014/59/EU Proposal for a Regulation of the European Parliament and the Council on amending Regulation(EU) No 575/2013
  • Cm 2015 2018 Init Working Party on Financial Services - ESRB Review (attachés + experts)
  • St 14643 2015 Init Directive (EU) 2015/2366 of the European Parliament and of the Council of 25 November 2015 on payment services in the internal market, amending Directives 2002/65/EC, 2009/110/EC and 2013/36/EU and Regulation (EU) No 1093/2010, and repealing Directive 2007/64/EC
  • St 6939 2018 Init European Council Decision on the appointment of the Vice-President of the European Central Bank


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