EFMLG, ECB and SSM: the EFMLG in 2014 and ahead.

n/a

Chiara Zilioli; Holger Hartenfels

Commission’s “Banking Communication” (Communication from the Commission on the application, from 1 August 2013, of State aid rules to support measures in favour of banks in the context of the financial crisis

The Commission State Aid rules of August 2013; presentation

Dimitris Tsibanoulis

The next Quadrilateral Meeting is to take place on 15 and 16 July 2014 in New York, organised by the FED. EFMLG gave input on the preferred themes and topics and now the first draft of the agenda is available. The EFMLG is invited to have a short discussion on the agenda, with the aim of identifying concrete topics and speakers.

Draft agenda of the Quadrilateral Meeting

Otto Heinz

The representatives of ICMA will present their paper on current regulatory issues

Working draft of New Regulation and collateral fluidity; presentation; final ICMA paper

Godfried de Vids and Andrew Hill (ICMA);

The negotiations on the Single Resolution Mechanism Regulation and the Intergovernmental Conference on the Single Resolution Fund are coming to a close

Draft SRM Regulation; Press release; presentation

Inigo Arruga Oleaga

Tumbling interest and deposit rates may lead to negative benchmark quotations. While the issue (floating rate payer becoming a receiver) is addressed in the OTC world there appears to be a lack of attention in other financial markets

Loan Market Association Note - IBOR

Ulrich Parche

International Banking regulation requires a Groupwide steering on banking operations vis-a-vis clients. National banking secrecy rules are roadblockers as there is no accepted Banking Group exemption.

Ulrich Parche

The US Intermediate Holdco Regulation requires foreign banks in the US to set up intermediate holding companies in the US, effectively mandating structural reform within the US of local operations. The impact and implications of this regulation could be assessed as it is relevant to large European banks and it is also related to the Liikanen and Vickers proposals.

Presentation

Francis Disckinson

Update on the progress on the assessment of legal implementation issues regarding the possible introduction of EURIBOR +.

ESMA short selling case. Follow up of the EFMLG Madrid meeting. Ruling of the ECJ on case C- 270/12 (Article 114 TFEU)

Judgment in Case C-270/12; presentation

Inigo Arruga Oleaga and Holger Hartenfels

German Constitutional Court ruling in relation to OMTs
The Court in Karlsruhe has referred the question of the legality of OMTs under EU Law lo the ECJ whilst making a few remarks of its own

Decision and Press release no. 9/2014 of 7 February 2014

Holger Hartenfels