Financial regulation Archives

Almost three years on from its launch, the Capital Markets Union needs renewed momentum to see it reach fruition and deliver on the promise of deep and well-integrated EU capital markets. Simon Lewis outlines why now is the moment to assess its progress so far.

The European Investment Bank (EIB) celebrates this year its 60th anniversary. But the 1958-founded EU body and bank should now look forward and commit to becoming a more sustainable, accountable and transparent institution, writes Xavier Sol.

Economists consider, based on tax havens’ statistics such as Bermuda or Ireland, that 40% of multinational companies' profits avoid taxation. The EU would thus be deprived of a fifth of its income from companies. EURACTIV.fr reports.

A former governor of the Bank of Spain told EURACTIV that Luis de Guindos has the right CV to become vice-president of the ECB, a post he will take up later this week. But the ex-minister’s “brutally wrong” decisions led the country to the “disaster” of the bailout, he added.

The European Commission presented on Thursday (24 May) a set of proposals aimed at boosting private investment in low-carbon technologies like renewable energies while increasing transparency in sustainable finance to avoid green-washing.

Financial representatives poured cold water on Thursday (24 May) on the European Commission’s proposal to create sovereign bond-backed securities (SBBS), insisting that not all the elements exist yet for a successful market for the product.

The European Commission has said that the zero-risk weight of its forthcoming sovereign bond-backed securities proposal will be a ‘game changer’, but member states and the financial sector remain sceptical about how the new asset could work in practice.

In 2012, all but two EU member states committed themselves to strengthening the rules and institutions that govern their national budget preparation processes by signing the European Fiscal Compact. However, little has been done since, writes Michal Horvath.

EU legislators have proposed extending the European Supervisory Authorities’ (ESAs) powers to include checking the financial institutions’ investment portfolio alignment with the Paris Agreement on climate change.

European Commission Vice-President Valdis Dombrovskis told the UK’s financial sector on Tuesday (24 April) that the EU and UK regimes could co-exist together after Brexit, but warned that London would not have a say in the decision-making process.

The European Values Instrument can provide a much-needed boost to the weakened resilience of European democracies. However, the details of its structure will determine whether this opportunity will be grasped, write Jan Jakub Chromiec and Katarzyna Pełczyńska-Nałęcz.

Amid growing concerns about the profitability of eurozone banks, the ECB said that the monetary decisions adopted after the financial crisis had a neutral effect on the money houses of the single currency area, except for German and Spanish lenders.

On the second anniversary of the Panama Papers tax scandal, the European coalition of development and environmental non-governmental organisations Counter Balance calls the European Investment Bank (EIB) to develop a comprehensive and responsible taxation policy.

The European Commission’s proposals to limit transfer costs to non-euro members and currency conversions abroad were welcomed by consumer and transparency activists, although NGOs complained that it would not benefit migrants’ remittances.

The industry has accepted that so-called “passporting” rights will not be possible after Britain leaves the EU.  The concept of “equivalence” has been mooted as a solution but even agreeing to that will be difficult, writes Mark Boleat.

The European Commission unveiled on Thursday (8 March) its highly expected action plan on sustainable finance, aiming to clarify what can be labelled as "green" investment and potentially lowering capital requirements on asset holders.

Widely credited with steering Spain through its worst recession in decades, its outgoing Economy Minister Luis de Guindos will hope to bring pragmatism and tenacity to the European Central Bank when he takes over as vice president in June.

Anti-corruption authorities in Latvia have arrested the governor of the country's central bank, Ilmars Rimsevics, the government said Sunday, while assuring there is "no sign of danger" to the financial system.

The European Central Bank should meet the same demands as the Commission when it comes to lobbyists in its advisory structure, insists the Corporate Europe Observatory.

‘Think Sustainability First’ must be a principle that guides financial policymaking through this decade and the next if Europe is to have the means to match its global ambitions, writes Arlene McCarthy.

An EU sustainability taxonomy, a definition of priority investment areas, the clarification of investor duties and development of “official” European sustainability standards for green bonds are some of the recommendations experts made to the European Commission on Wednesday (31 January).

A high level group of financial experts has advised European regulators to encourage more favourable treatment for energy saving loans and mortgages, in a move that could unlock billions in lending for green building renovation programmes across Europe.

Despite past concerns and some delays, legislators, regulators and experts were positive about the first week since the entry into force of the Markets in Financial Instruments Directive on 3 January, seen as the biggest reform of the financial sector since the 2007-2008 crisis.

The euro area economy has at last started to begin recovering convincingly from the past decade’s two recessions. But two big factors will moderate growth in 2018, writes Ilaria Maselli, citing the ageing workforce in Germany as being of particular concern.