Wed. Oct 9th, 2024

TRADE & COMMERCE

LATEST NEWS

WTO Public Forum: Trade MEPs travel to Geneva

The MEPs are set to meet with Dr. Ngozi Okonjo-Iweala, Director-General of the WTO, to discuss the state of world trade. They are also expected to meet key officials to discuss topics high on the WTO agenda, including e-commerce negotiations, fisheries agreements, dispute settlement reform and support for least-developed countries.

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Sustainable finance: The EBA consults on Guidelines on ESG Risk Management

The European Banking Authority (EBA) today launched a public consultation on draft Guidelines on the management of Environmental, Social and Governance (ESG) risks. The draft Guidelines set out requirements for the identification, measurement, management and monitoring of ESG risks, including through plans aimed at addressing the risks arising from the transition towards an EU climate-neutral economy.

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Measuring Cyber Risk: Remarks by U.S. Fed Vice Chair for Supervision Michael Barr

Cyber threats are constantly evolving, and we can expect them to become increasingly disruptive as technology advances and our financial system becomes more interconnected. In the past few months, ransomware attacks have disrupted the ability of some financial institutions to offer a variety of banking and market services, including Treasury clearance and settlement and access to online banking and ATM operations. These incidents were resolved without significant disruption to the

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Digital resilience: ESAs publish ICT rules for third-party risk management and incident classification

The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) published today the first set of final draft technical standards under the Digital Operational Resilience Act (DORA) aimed at enhancing the digital operational resilience of the EU financial sector by strengthening financial entities’ Information and Communication Technology (ICT) and third-party risk management and incident reporting frameworks.

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EU Commission presents Opinion on Slovakia’s updated Draft Budgetary Plan for 2024 

This Opinion finds that Slovakia’s updated Draft Budgetary Plan risks not being in line with the fiscal guidance contained in the Council recommendation of July 2023. This is because, according to the Autumn 2023 Forecast, the growth of net nationally financed primary expenditure is projected to not respect the recommended maximum growth rate in 2024. Furthermore, the emergency energy support measures are only partially expected to be wound down in

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Financial services: Final vote on better data access and more robust EU markets

MEPs adopted rules to enhance financial market data transparency, optimise orderly trading and prohibit payments for forwarding client orders. Amendments to the Markets in Financial Instruments Directive (MiFID II) were adopted with 521 votes to 19 and 57 abstentions. Amendments to the Markets in Financial Instruments Regulation (MiFIR) were adopted with 518 votes to 46 and 34 abstentions.

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EBA consults on targeted amendments to the prudent valuation framework

The European Banking Authority (EBA) today published a consultation paper on targeted amendments to the Regulatory Technical Standards (RTS) on prudent valuation, aiming to promote a more harmonised application of the RTS and to reduce the observed variability of additional value adjustments (AVAs) under the core approach, as well as to set the rules for the application of the prudent valuation framework in extraordinary circumstances. The consultation runs until 16

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cryptocurrency, crypto, bitcoin

EBA issues ML/TF risk guidance to crypto-asset service providers

The European Banking Authority (EBA) today extended its Guidelines on money laundering (ML) and terrorist financing (TF) risk factors to crypto-asset service providers (CASPs). The new Guidelines highlight ML/TF risk factors and mitigating measures that CASPs need to consider, representing an important step forward in the EU’s fight against financial crime.

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The EBA publishes an analysis on net stable funding ratio framework

The European Banking Authority (EBA) today published its Report about some specific aspects of the net stable funding ratio (NSFR) framework. The Report provides an evaluation of the materiality of the specific items analysed as well as an assessment of the impact of possible changes to the current prudential treatment.

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