European Commission (EC)
Esma denies need for new competitiveness mandate
MEP wants explicit requirement; Esma official says it’s already covered in existing rulebook
Waiting for the light: what’s stalling European equity markets?
Esma says EU market has a structural problem, but the focus on lit vs dark trading overlooks post-trade issues
Europe’s next chore: cleaning a floor made messy by the US
Rejection of Basel III’s output floor leaves EU with some difficult decisions to make
Esma supervisory switch could become ‘distraction’
Push to transform watchdog might hinder market reforms, say some
European Commission plans permanent changes to FRTB
EU legislator will start work on new rules later this year to ensure level playing field with US
One thing missing from US Basel III proposal: a deadline
Without a deadline, risk teams will struggle to secure resources to begin implementation projects
Why Brexit still stirs up trouble for cross-border business
As EU erects another obstacle, banks consider ways around it – or exit strategies
EU states take the slow road to new cross-border services ban
Late national transposition hampers foreign banks’ decisions on location of affected activities
EBA proposes drastic overhaul to supervisory data reporting
Revamp will cut back the number of datapoints and integrate overlapping reports
EU can handle energy price pressure – it’s been here before
Reforms made after Russia’s invasion of Ukraine have made region more resilient to energy shocks, officials say
Leaked EU plans offer extra temporary relief for FRTB models
Risk factors would need only two observations to be modellable. Do changes foreshadow US Basel III?
EU officials tamp down hopes for bank capital relief
Capital cuts are not a done deal in EC’s review of competitiveness, despite US deregulation
Italy’s spread problem is not (always) a credit story
Occasional doubts over Italy’s role in the monetary union adds political risk premium, argues economist
Esma supervision proposals ensnare Bloomberg and Tradeweb
Derivatives and bonds venues would become subject to centralised supervision
Why UPIs could spell goodbye for OTC-Isins
Critics warn UK will miss opportunity to simplify transaction reporting if it spurns UPI
EC’s closing auction plan faces cool reception from markets
Participants say proposal for multiple EU equity closing auctions would split price formation
Hopes rise for EU re-entry to UK swaps market
EC says discussions on draft decision softening derivatives trading obligation are ‘advanced’
ECB bank supervisors want top-down stress test that bites
Proposal would simplify capital structure with something similar to US stress capital buffer
Clearing houses warn Esma margin rules will stifle innovation
Changes in model confidence levels could still trip supervisory threshold even after relaxation in final RTS
CCPs trade blows over EU’s new open access push
Cboe Clear wants more interoperability; Euronext says ‘not with us’
EU single portal faces battle to unify cyber incident reporting
Digital omnibus package accused of lacking ambition to truly streamline notification requirements