The financial system is undergoing a more and more important, pervasive and disrupting technological evolution. Most of the financial market players are evolving their business models into a FinTech direction, leveraging on the more efficient, ...more »

Peter Praet, Member of the Executive Board of the ECB, at the Eurofi Financial Forum 2018, enlightened the importance of the Banking Union as the final objective of financial integration. The European Union has now have a single supervisor and a single resolution authority, and banks are ...more »

The board of the International Organization of Securities Commissions (IOSCO) today published eight recommendations to assist trading venues and regulatory authorities in the implementation of mechanisms to manage extreme volatility and preserve orderly trading. Following recent extreme ...more »

The European Securities and Markets Authority (ESMA) has published supplementary guidance on the application of the endorsement regime for non-EU credit ratings under the Credit Rating Agencies Regulation (CRAR). In order to ensure that third-country credit ratings, which are endorsed for ...more »

The European Securities and Market Authority (ESMA) issued the first report on the supervisory measures and penalties  carried out under the  European Market Infrastructure Regulation (EMIR). The report focuses in particular on the supervisory actions undertaken national authorities, their supervisory powers ...more »

The European Central Bank (ECB) published today the yearly analytical report collecting the result of the  Survey on the Access to Finance of Enterprises (SAFE) for the year 2017. The survey is conducted on a sample of Small-Medium Enterprises (SME) across Europe. Table 1 summarizes the number of SMEs involved in the ...more »

Yves Mersch, Member of the Executive Board of the ECB, at the Frankfurt Finance Summit, Frankfurt, 29 May 2018 illustrated the key role played by central counterparties in Europe. During the 2008 financial crisis, counterparty risks became infamous. The failure of Lehman Brothers and the large losses suffered by AIG ...more »

The European Banking Authority (EBA) launched two consultations on draft regulatory technical standards (RTS) specifying an economic downturn and on a set of Guidelines related to the estimation of loss given default (LGD) appropriate for conditions of an economic downturn. The draft RTS ...more »

The European Commission is today proposing new rules that will allow market-led solutions to support further integration and diversification within Europe's financial sector, leading to a stronger and more resilient Economic and Monetary Union. Today's proposal will remove unwarranted ...more »