Newsletter April 2019

 

 

 

 

Coming up in the next committee meetings:

1 April 2019, 15.00 - 18.00

(including joint BUDG - ECON meeting from 17.00 - 17.15)

2 April 2019, 9.00 - 13.00

Room: Paul-Henri Spaak (3C050)

See live broadcast

 

European Central Bank – annual report 2018 On , ECB Vice-President Luis De Guindos willMonday 1st April at 15.00present the ECB Annual Report 2018 to the ECON Committee. The ECBAnnual Report will be published at the same time in 22 official EUlanguages on the ECB’s website, presenting the ECB's policies andactivities in the economic and financial environment of 2018, includingmonetary policy, financial sector, market infrastructures and payments,financial services provided to other institutions, banknotes and coins,statistics, economic research, legal activities, international and Europeancooperation, external communication, institutional and corporategovernance.  The ECB will also publish its response to comments andsuggestions raised by the European Parliament in its Resolution on theECB Annual Report 2017.

Public Hearing with Elke König, Chairperson of the Single Resolution Board (SRB) On , ECON will hold a public hearing with Elke 2 April from 9.00 to 10.30König, Chairperson of the Single Resolution Board.Ms Koenig's statements will most likely focus on the BRRD review and the upcoming MREL emissions of the institutions. Ms Koenig may also mention that the European Commission, in consultation with the Single Resolution Board (SRB), has recently launched the process to select and appoint three new Board Members. The exiting Members, i.e. (1) Dr Timo Löyttyniemi, Vice Chair and Director of the Single Resolution Fund and Corporate Services, (2) Antonio Carrascosa, Board Member and Director of Resolution Planning and Decisions and (3) Dominique Laboureix, Board Member and Director of Resolution Planning

and Decisions, will  continue to be active and committed to the work of the SRB until the new Members are appointed and take up office.

 

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Structured Dialogue with Valdis Dombrovskis, Vice-President for the Euro and Social Dialogue, also in charge of Financial Stability, Financial Services and Capital Markets Union

The first structured dialogue of 2019 with Commission Vice PresidentDombrovskis in his capacity as Commissioner responsible for FinancialServices, Financial Stability and the Capital Markets Union will take placeon . The meeting will be an opportunity to review2 April from 10.30 to 12.00

progress on financial services files as the end of the legislature approaches.

Scrutiny of delegated acts and implementing measures

ECON's 43rd scrutiny slot on will focus on the review of the implementing measures under 2 April from 12.00 - 13.00 Directive on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II). Ongoing work on this2009/138/EC

review in particular includes amendments to the Delegated Act under Solvency II as regards the review of specific items of theSolvency II Capital Requirement Standard formula (“SCR review”). After a between the ECON Chair and theletter exchangeCommission Vice President on the amendments, and based on the by EIOPA and a , thepreparatory work public consultationCommission adopted this amending Solvency II act on .8 March 2019

VotesOn , in a joint BUDG-ECON meeting, the committees will vote on the partial provisional1 April 2019 from 17.00 to 17.15agreement reached in trilogue for the InvestEU regulation.

On ECON will vote on:1 April 2019 from 17.15 to 18.00

Re-consultation of the ECON committee on provisional agreements reached in trilogue:

- Regulation amending Regulations establishing European Supervisory Authorities and Regulations on financial markets: (EU) No1093/2010, (EU) No 1094/2010, (EU) No 1095/2010, (EU) No 345/2013, (EU) No 346/2013, (EU) No 600/2014, (EU) 2015/760,(EU) 2016/1011 and (EU) 2017/1129

- Markets in financial instruments and taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II)

- European Union macro-prudential oversight of the financial system and establishing a European Systemic Risk Board

- Prudential requirements of investment firms

- Prudential supervision of investment firms

- Covered bonds and covered bond public supervision

- Exposures in the form of covered bonds

- Disclosures relating to sustainable investments and sustainability risks

- Amending Regulation (EU) No 1095/2010 establishing a European Supervisory Authority (European Securities and MarketsAuthority) and amending Regulation (EU) No 648/2012 as regards the procedures and authorities involved for the authorisation ofCCPs and requirements for the recognition of third-country CCPs

- Establishing the "Fiscalis" programme for cooperation in the field of taxation (partial provisional agreement)

Adoption of draft report:

- Credit servicers, credit purchasers and the recovery of collateral

Early non-objections for:

- Commission Delegated Regulation amending Delegated Regulation (EU) 2016/2251 supplementing Regulation (EU) No 648/2012 of the European Parliament and of the Council as regards the date until which counterparties may continue to apply theirrisk-management procedures for certain OTC derivative contracts not cleared by a CCP

- Commission Delegated Regulation amending Delegated Regulation (EU) 2015/2205, Delegated Regulation (EU) 2016/592 andDelegated Regulation (EU) 2016/1178 supplementing Regulation (EU) No 648/2012 of the European Parliament and of theCouncil as regards the date at which the clearing obligation takes effect for certain types of contracts

 

 

 

Other items, please see Draft Agenda

Next committee meetings:

Monday 8 April 2019 (to be confirmed)

 

 

 

 

ECON is responsible for:

the regulation and supervision of financial services, institutions and markets includingfinancial reporting, auditing, accounting rules, corporate governance and other company law,matters specifically concerning financial services,

free movement of capital and payments,taxation and competition policies,international monetary and financial system.

ContactSecretariat:

+32 (0) 2 28 34640

econ-secretariat@europarl.europa.eu

Webpage : www.europarl.europa.eu/committee

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