Mon. Oct 14th, 2024
euro, money, currency
Insight EU Finance Monitoring. Photo by geralt on Pixabay

These are the headlines of our weekly Insight EU Finance Monitoring, published last Friday night. We publish the headlines of our Insight EU Monitoring mails delayed by several days. To receive real-time monitoring emails, subscribe to our annual target group full-text services on the Insight EU Store page (more information below).

ECOFIN
  • Main results of the Economic and Financial Affairs Council, 8 October 2024
  • Remarks of EU Commissioner Gentiloni at the ECOFIN press conference
  • Listings on European stock exchanges: EU Council adopts the listing act
  • SME financing: EU Council adopts the multiple-vote share structures directive
  • Climate finance: EU Council approves conclusions ahead of COP29
EUROGROUP
  • Main Results of the Eurogroup meeting on 7 October 2024
  • Remarks by Paschal Donohoe following the Eurogroup meeting of 7 October 2024
  • Remarks of EU Commissioner Gentiloni at the Eurogroup press conference
DIGITAL FINANCE
  • Digital finance: Synthetic data enables national authorities to make their financial data publicly available – EU Commission
  • Unmasking Digital Deception: Protecting EU Investors from Online Investment Fraud – Better Finance (NGO)
ECB 
  • Towards a digital capital markets union – Keynote speech by Piero Cipollone, Member of the Executive Board of the ECB, at the Bundesbank Symposium on the Future of Payments
  • Interview with Frank Elderson, Member of the Executive Board of the ECB and Vice-Chair of the Supervisory Board of the ECB, conducted by Miha Jenko, Delo
  • Further publications by the ECB
  • Monetary and fiscal policy interactions: risks to price stability in times of high government debt
  • Capital requirements in Pillar 1 or Pillar 2: does it matter for market discipline?
  • Stablecoins, money market funds and monetary policy
  • ECB Conference on Monetary Policy 2024: Keynote speech by Adriana D. Kugler
  • 5th Joint BoC – ECB – NY Fed Conference – Session 4
  • 5th Joint BoC – ECB – NY Fed Conference – Session 3
  • 5th Joint BoC – ECB – NY Fed Conference – Session 2
  • 5th Joint BoC – ECB – NY Fed Conference – Session 1
  • 5th Joint BoC – ECB – NY Fed Conference – Keynote Day 1
  • 5th Joint BoC – ECB – NY Fed Conference – Welcome Speech
  • Session 1: Monetary policy and financial markets
  • Session 3: Young Economists and Closing remarks and end of day 1
  • Session 2: Monetary policy, credit and banking
  • Session 4: Monetary policy and inflation and concluding remarks
  • Welcome address by Massimo Rostagno and Keynote speech by Philip R. Lane
  • ECB Governing Council Press Conference – 17 October 2024
  • The ECB Podcast – “Swiftflation”, banknotes and the digital euro
  • What would be your key takeaways from the conference? Statement by Jukka Savolainen, Hybrid CoE
  • What would be your key takeaways from the conference? Statement by Hyun Song Shin, BIS
  • What would be your key takeaways from the conference? Statement by Ian Goldin, Oxford Martin School
  • Closing remarks by Francesco Mazzaferro, Head of the ESRB Secretariat
  • Keynote speech by Olli Rehn, ESRB First Vice-Chair, Governor of Suomen Pankki
  • Welcome address by Pablo Hernández de Cos, Chair of the Advisory Technical Committee
  • Panel discussion: Systemic liquidity
BANKING UNION
  • EP Think Tank Study: Banking union and the long wait for cross-border integration
SUSTAINABLE FINANCE
  • Joint Committee of the ESAs to focus on digital resilience and sustainability disclosures in 2025
  • European Capital Markets Institute (ECMI): Europe’s CSRD is an opportunity, not a chain around its neck
DORA
  • Joint Committee of the ESAs to focus on digital resilience and sustainability disclosures in 2025
ESMA
  • ESMA publishes its first annual report on EU Carbon Markets
  • Improving financial reporting for issuers engaging in carbon allowance programmes
  • EFAMA: Fund naming guidelines put growth of corporate green bond sector at risk
  • EFAMA: Market Data at genuine cost-based approach to comply with new MiFIDIII/MiFIR2
  • Further ESMA documents
  • Contact points of national supervisory authorities for communication in the MiFID II framework on supervisory cooperation, authorisation, acquisitions and passporting
  • TRV Article: Assessing portfolio exposures to climate physical risks
  • New Q&As available
  • Ongoing ESMA Consultations
EBA
  • EBA consults on draft technical standards to support the centralised EBA Pillar 3 data hub
  • EBA publishes Guidelines on redemption plans under the Markets in Crypto-Assets Regulation
  • Further Tier 1 capital needs for the full implementation of the EU specific Basel III reform are minimal, the EBA Report finds
  • Further publications by EBA
  • EBA consults on draft technical standards to support the centralised EBA Pillar 3 data hub
  • The EBA responds to the European Commission on the eligibility and use of credit insurance
  • ​The EBA publishes its Work Programme for 2025
  • Net interest margin of EU/EEA banks slightly decreased on a quarterly basis
  • EBA issues revised list of ITS validation rules
  • Ongoing EBA Consultations
  • Consultation on draft implementing technical standards for uniform reporting under the Single Euro Payments Area Regulation (EBA/CP/2024/19)
  • Consultation on draft Implementing Technical Standards overhauling the EBA resolution planning reporting framework (EBA/CP/2024/18)
  • Consultation paper on draft amending ITS on joint decision process for internal model authorisation (EBA/CP/2024/16)
  • Consultation on Guidelines on templates to assist competent authorities in performing their supervisory duties regarding issuers’ compliance under MiCAR (EBA/CP/2024/15)
EIOPA
  • EIOPA presents its value for money benchmark methodology for unit-linked and hybrid insurance products
EU PARLIAMENT REGISTER
  • EPRS policy roundtable: EU finances: Is Next Generation EU delivering? – Centre for European Reform
  • Highlights – Annual hearing with the Chairpersons of the European Supervisory Authorities (ESAs) – Committee on Economic and Monetary Affairs
  • DRAFT REPORT on the draft Council directive on Faster and Safer Relief of Excess Withholding Taxes – PE765.063v01-00
  • Draft agenda – Monday, 14 October 2024 – PE765.088v01-00 – Committee on Economic and Monetary Affairs
  • Question to the ECB – Project costs of the digital euro – PE765.008v01-00
  • NOTICE TO MEMBERS Draft calendar of 2025 ECON Committee meetings – PE765.074v01-00
  • Newsletters – 2024 – Committee on Economic and Monetary Affairs
EU COUNCIL REGISTER
  • ST 13532 2024 REV 1 – European Semester 2024: Council Recommendations on economic, budgetary, employment and structural policies of the Member States
  • ST 13544 2024 COR 1 – COUNCIL RECOMMENDATION on economic, budgetary, employment and structural policies of Ireland
  • ST 13546 2024 COR 1 – COUNCIL RECOMMENDATION on economic, budgetary, employment and structural policies of Greece
  • ST 13547 2024 COR 1 – COUNCIL RECOMMENDATION on economic, budgetary, employment and structural policies of Spain
  • ST 13549 2024 COR 1 – COUNCIL RECOMMENDATION on economic, budgetary, employment and structural policies of Croatia
  • ST 13554 2024 COR 1 – COUNCIL RECOMMENDATION on economic, budgetary, employment and structural policies of Lithuania
  • ST 13557 2024 COR 1 – COUNCIL RECOMMENDATION on economic, budgetary, employment and structural policies of Malta
  • ST 13560 2024 COR 1 – COUNCIL RECOMMENDATION on economic, budgetary, employment and structural policies of Austria
  • ST 13563 2024 COR 1 – COUNCIL RECOMMENDATION on economic, budgetary, employment and structural policies of Portugal
  • ST 13568 2024 COR 2 – COUNCIL RECOMMENDATION on economic, budgetary, employment and structural policies of Sweden
  • ST 13932 2024 INIT – European Semester 2024: Council Recommendations on economic, budgetary, employment and structural policies of the Member States – Adoption
  • CM 4555 2024 INIT – Working Party on Customs Union
  • CM 4554 2024 INIT – Working Party on Customs Union
  • CM 4452 2024 INIT – WORKING PARTY ON COMPETITIVENESS AND GROWTH (Internal Market – Attachés)
  • CM 4433 2024 INIT – Working Party on Customs Union
  • CM 4435 2024 INIT – Working Party on Customs Union – MORNING ONLY
  • CM 4266 2024 REV 1 – Law Enforcement Working Party (Customs)
  • CM 4415 2024 INIT Working party on CONSUMER PROTECTION AND INFORMATION
  • ST 14167 2024 INIT – In particular, when calculating the Solvency Capital Requirement under the standard formula, the possibility to use a more favourable standard parameter for equity investments which are held with a long-term perspective should be facilitat ed, provided that insurance and reinsurance undertakings comply with sound and robust criteria, that preserve policy holder protection and financial stability. Therefore, insurance and reinsurance undertakings should ensure that their investment policy reflects the objectives of the up -to-date EU list of non -cooperative jurisdictions for tax purposes and of Directive (EU) 2015/84 9 of the European Parliament and of the Council9 in respect of high -risk third countries.
  • ST 14172 2024 INIT – A lack of coordination and cooperation between public authorities to prepare for and manage the distress or failure of an insurance or reinsurance undertaking operating across borders would undermine Member States’ mutual trust, result in a suboptimal outcome for policy holders, beneficiaries and injured parties and affect the credibility of the internal market for insurance. In order to ensure consistency with existing Union legislation in the ar ea of insurance services, the pre -emptive recovery and resolution regime should apply to insurance or reinsurance undertakings that are subject to the prudential requirements laid down in Directive 2009/138/EC.
  • ST 13886 2024 INIT  – ‘I/A’ ITEM NOTE From: General Secretariat of the Council To: Permanent Representatives Committee (Part 2)/Council Subject: Promotion of international cooperation on tax matters: Position of the European Union and its Member States for the 79th session of the UN General Assembly adopted positions of the European Union and its Member States for the substantive sessions of the Ad Hoc Committee.
  • ST 12247 2024 ADD 1 – Member States should therefore introduce an obligation on directors to submit a request for the opening of insolvency proceedings as set out in Annex A of Regulation (EU) 2015/848, or any analogous insolvency proceedings instituted with a view to the liquidation of the assets of that insolvent company within a specified time – period. NOTE From: General Secretariat of the Council To: Delegations No. Cion doc.: 15896/22 + ADD 1 + ADD 2 + ADD 3 + ADD 4 Subject: Proposal for a Directive of the European Parliament and of the Council harmonising certain aspects of insolvency law – Comments on the first compromise text of Title V
BIS
  • Latest publications by the Bank for International Settlements (BIS)
  • Basel III monitoring report
  • Basel III capital and liquidity ratios remained stable in the second half of 2023, latest Basel III monitoring exercise shows
  • Basel Committee publishes G20 progress report on the 2023 banking turmoil and liquidity risk
  • Liquidity stress tests for banks – range of practices and possible developments
  • The 2023 banking turmoil and liquidity risk: a progress report
  • Evidence of nearshoring in the Americas?
  • Joint Peterson Institute-BIS-WTO conference on geopolitics and international trade and finance
  • 8th Annual DC Fintech Week
  • Philip N Jefferson: A history of the Fed’s discount window – 1913-2000
  • Alessandra Perrazzelli: Technology and regulation – bridging the gap in the collective interest
  • Rosanna Costa: Welcoming remarks – FSB RCG Americas meeting
  • Elizabeth McCaul: Beyond the spotlight – using peripheral vision for better supervision
  • Joachim Nagel: Remarks at the “Bell ringing ceremony”
  • Adriana D Kugler: The global fight against inflation
  • Trade credit and exchange rate risk pass through
  • Sharon Donnery: Governing for the good – doing the right thing
  • Claudia Buch: Financial integration in the Baltics – lessons in resilience and transformation
  • Frank Elderson: Sustainable finance – from “eureka!” to action
  • Steven Maijoor: 2024 – an AI odyssey
  • John C Williams: New York City is alive
  • Michelle W Bowman: Building a community banking framework for the future
  • Vasileios Madouros: Managing the macroeconomic trade-offs of increased investment in infrastructure
  • Rosanna Costa: Chile’s September 2024 Monetary Policy Report
  • Martin Schlegel: Eighth Karl Brunner Distinguished Lecture – introduction of Kristin J Forbes
  • Ulrik Nødgaard: TIPS cross-currency
  • College Access and Intergenerational Mobility
  • Should I Stay or Should I Go? Inter-state Mobility and Earnings Gains of Young College Graduates
  • Battles and Diseases in the U.S. Civil War
  • LUCI: Your Best Friend for Measuring Labor Market Tightness
  • Origins of Post-COVID-19 Inflation in Central European Countries
  • ECB communication and its impact on financial markets
  • The Postpandemic U.S. Immigration Surge: New Facts and Inflationary Implications
  • An Empirical Evaluation of Some Long-Horizon Macroeconomic Forecasts
  • An Investigation into the Uncertainty Revision Process of Professional Forecasters
  • Defining Households That Are Underserved in Digital Payment Services
IMF 
  • Working Paper No. 2024/226 : Central Bank Digital Currencies and Financial Stability: Balance Sheet Analysis and Policy Choices
  • Launch of the October 2024 World Economic Outlook
  • Further IMF publications
  • Coming Soon: World Economic Outlook, October 2024
  • Coming Soon: Fiscal Monitor October 2024
  • The Case for a Global Corporate Minimum Tax: Cory Hillier, Shafik Hebous
  • IMF Managing Director Kristalina Georgieva’s Statement on the Review of Charges and the Surcharge Policy
  • Working Paper No. 2024/225 : Reported Social Unrest Index: September 2024 Update
  • Working Paper No. 2024/224 : A New Dataset of High-Frequency Monetary Policy Shocks
  • Monetary Policy in a Shock-Prone World
  • Press Briefing: IMFC, October 2024
  • Press Briefing: Regional Economic Outlook for the Americas, October 2024
  • 2024 Annual Meetings Plenary
  • Press Briefing: Regional Economic Outlook for Sub-Saharan Africa, October 2024
  • Debate on the Global Economy, October 2024
  • Press Briefing: G20, October 2024
  • Press Briefing: Regional Economic Outlook for Europe, October 2024
  • Regional Press Briefing: Middle East and Central Asia, October 2024
  • Regional Press Briefing: Asia-Pacific, October 2024
  • Managing Director’s Press Briefing and Global Policy Agenda, October 2024
  • IMF Today: Wednesday, October 23
  • Press Briefing: Fiscal Monitor, October 2024
  • IMF Today: Tuesday, October 22
  • High-Level Capacity Development Talk
  • Press Briefing: Global Financial Stability Report, October 2024
  • Press Briefing: World Economic Outlook, October 2024
  • Outlook for the Global Economy and Policy Priorities
  • IMF Inspired
  • Coming Soon: 2024 IMF-World Bank Annual Meetings
  • Resilience in the Face of Change | IMF Annual Report 2024
UNITED KINGDOM
  • Further documents published by the UK Financial Conduct Authority (FCA)
  • It’s good to be different: the new FCA supervisory strategy for the financial advice sector
  • FCA fines TSB £10.9m over treatment of customers in financial difficulty
  • Delivering vibrant capital markets
  • Predictable volatility
GERMANY
  • Deutsche Bundesbank updates impact of Basel III reform package
  • Banking stress test: Profitability of small and medium-sized credit institutions improved significantly in 2023
  • Further publications by Deutsche Bundesbank
  • Bundesbank President Nagel and IMF boss Georgieva at the Capital City Reception in Berlin
  • The Bundesbank hosts an international autumn conference
ITALY
  • Latest publications by the Bank of Italy
  • Economic Bulletin No. 4 – 2024
  • Macroeconomic projections for the Italian economy – October 2024 [pdf, 309.6 KB]
  • Governor Panetta meets MAS Managing Director Chia in Singapore
  • New releases of Working Papers of Banca d’Italia – 9 October 2024
  • No. 1468 – Sanctions and Russian online prices
  • No. 1467 – The market externalities of tax evasion
  • No. 1466 – The global transmission of U.S. monetary policy
  • No. 1465 – Climate supervisory shocks and bank lending: empirical evidence from microdata
  • No. 1464 – As soon as possible: the effectiveness of a financial education program in Italian schools
  • No. 1463 – The distributional effects of carbon taxation in Italy
  • No. 1462 – The allocation of public guaranteed loans to firms during Covid-19: credit risk and relationship lending
  • Banks and Money: National Data – August 2024 [pdf, 4.1 MB]
  • The Italian economy in brief, No. 10 – October 2024 [pdf, 1.4 MB]
  • “IT” securities [csv, 10.0 KB]
  • Alessandra Perrazzelli at the Milan Fintech Festival 2024
  • Survey on Inflation and Growth Expectations – 2024 Q3
  • No. 890 – The role of behavioural economics and neurofinance in financial consumer protection policy
  • New releases of Occasional Papers of Banca d’Italia – 7 October 2024
  • No. 889 – High-growth young firms in Italy
  • No. 888 – The case for mindful customer protection: a review and some thoughts on neuroeconomics and neurofinance
  • No. 887 – Labour shortages in Italy: determinants, firms’ responses and employment prospects
  • No. 886 – Usus fructus: taking account of property use rights in household wealth measurement
  • No. 885 – Modelling cognitive response patterns to survey questions using the class of CUB models
  • No. 884 – Credit strikes back: the macroeconomic impact of the 2022-23 ECB monetary tightening and the role of lending rates
  • No. 883 – Relative price shocks and inequality: evidence from Italy
  • No. 882 – Trade in low-carbon technology products: macro and micro evidence for Italy
  • No. 881 – Trade fragmentation unveiled: five facts on the reconfiguration of global, US and EU trade
  • Paolo Angelini: interview with MNI
  • Foreign workers’ remittances [xlsx, 4.0 MB]
SPAIN
  • Latest publictions by the Banco de España
  • Working Papers. Female financial portfolio choices and marital property regimes
  • Occasional Papers. A taxonomy of macro-financial risks and policies to address them
  • Working Papers. The public-private wage GAP in the euro area a decade after the sovereign debt crisis
USA
  • Cook, Entrepreneurs, Innovation, and Participation
  • Jefferson, The Fed’s Discount Window: 1990 to the Present
  • Jefferson, A History of the Fed’s Discount Window: 1913–2000
  • Kugler, The Global Fight Against Inflation
  • Speech by U.S. Fed Governor Bowman on community banking
  • Further information of the U.S. Federal Reserve
  • Minutes of the Federal Open Market Committee, September 17-18, 2024
  • Further financial publications in the USA

 



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