The European Securities and Markets Authority (ESMA) has published on 6th of February 2019 the MiFID II supervisory briefing on the supervision of non-European Union (EU) branches of EU firms providing investment services and activities. The supervisory briefing has been designed to assist national competent authorities (NCAs) in their supervision of the establishment by EU firms of branches in non-EU countries.
The European Central Bank published the Results of the December 2018 survey on credit terms and conditions in euro-denominated securities financing and over-the-counter derivatives markets (SESFOD) on 31st of January this year.
Continuă lectura „European Central Bank – the results of SESFOD”
The working group on euro risk-free rates, for which the European Central Bank (ECB) provides the secretariat, has published the paper “Guiding principles for fallback provisions in new contracts for euro-denominated cash products”.
The National Bank of Romania Board discussed and adopted the monetary policy decision, based on the data and analyses on current and future macroeconomic, financial and monetary developments submitted by the specialised departments, as well as on other available domestic and external information.
Continuă lectura „Current and future macroeconomic and monetary developments”
The European Investment Bank (EIB) is lending EUR 22.3m to Garanti Bank Romania to support businesses in Romania. EUR 5m of the loan amount is devoted to female entrepreneurs, matched by another EUR 5m from Garanti Bank. This transaction is backed by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan for Europe, or „Juncker Plan”.
Continuă lectura „First EIB loan tranche dedicated to female entrepreneurs”
Common EU rules on securitisation became effective on 1 January 2019 that will lead to more investment opportunities and increased lending to households and businesses according to European Commission’s press release.
On 18th of December, the European Parliament and the Council agreed a new framework for dealing with banks’ bad loans. They reached a provisional political agreement on capital requirements applying to banks with non-performing loans (NPLs) on their balance sheets. The deal will now be submitted for endorsement by EU ambassadors according to the Council’s press release.
Continuă lectura „New measures to address non-performing loans”
Financial stability has remained robust since the release of the previous Report (June 2018), and the main vulnerabilities have continued to be those stemming from external sources. The National Bank of Romania has further pursued a counter-cyclical policy conduct within its scope of activity, yet a balanced economic policy mix is called for in order to adequately manage the vulnerabilities with systemic potential and achieve sustainable economic growth according to the latest Financial Stability Report for December published by the National Bank of Romania on 10th of December 2018.
The EU is introducing new rules which will offer business users in the EU a more transparent, fair and predictable online platform environment, together with an effective system for seeking redress. The proposed regulation is the first EU legislative act that addresses relations between online platforms and the businesses using them according to the Council’s press release dated 29th of November 2018.
According to the European Commission’s press release dated 20th of November 2018, the European Parliament, the Council and the Commission reached a political agreement on an EU framework for screening foreign direct investment.
Continuă lectura „New European framework for screening of FDI”
