IRSG response to Capital Markets Union Midterm Review Consultation
IRSG response to Capital Markets Union Midterm Review Consultation
Published 31 Mar 2017
The IRSG and TheCityUK have welcomed the CMU initiative as a means of furthering the international competitiveness of financial services and in helping to create jobs and deliver economic growth. It follows the IRSG’s existing agreement that the CMU was established to benefit savers, entrepreneurs and business across Europe.
There are various points of analysis and many technical recommendations included in the report, but none are new recommendations, all build from previous positions. Key recommendations include:
Ensuring that regulatory frameworks are appropriately calibrated and consistent, including harmonising reporting requirements for data and definitions
Deferring the mandatory buy-in regime under CSDR, for an impact assessment
Amending CRR/CRD IV and Solvency II to treat infrastructure investment separately from loans to corporate borrowers
Re-aligning capital ratio requirements to enable long-term finance and support the SME Growth Market classification
Increasing digitisation and product innovation within the sector
Reviewing the longevity reinsurance market to better account for risk margin
Shortening the length of insolvency proceedings in totality
Including a third country regime in the STS Securitisation framework
IRSG response to Capital Markets Union Midterm Review Consultation
Published 31 Mar 2017
The IRSG and TheCityUK have welcomed the CMU initiative as a means of furthering the international competitiveness of financial services and in helping to create jobs and deliver economic growth. It follows the IRSG’s existing agreement that the CMU was established to benefit savers, entrepreneurs and business across Europe.
There are various points of analysis and many technical recommendations included in the report, but none are new recommendations, all build from previous positions. Key recommendations include: