Joint CEPS-ECRI event. Participation in this event is free of charge for ECRI and CEPS members, non-members may be admitted for €100. A sandwich lunch (€6) will be served before the event, from 12.30 onwards.

The ECMI Statistical Package represents a comprehensive collection of relevant data on the dynamics of various segments of the European capital markets, complete with graphical representations and explanatory commentary. It enables users to trace trends in European and global capital markets, so as to highlight their ongoing transformation through structural changes brought about by competitive forces, innovation, regulation or broader policy initiatives.

The ECMI Statistical Package represents a comprehensive collection of relevant data on the dynamics of various segments of the European capital markets, complete with graphical representations and explanatory commentary. It enables users to trace trends in European and global capital markets, so as to highlight their ongoing transformation through structural changes brought about by competitive forces, innovation, regulation or broader policy initiatives.

This CEPS - ECRI event will provide a forum to discuss the effects that the Capital Requirements Directive and the respective regulation will have on banks’ business models. The ‘one size fits all’ approach of Basel III poses the same requirements for all banks, regardless of their risk levels and structures. This raises concerns especially from the perspective of cooperative banks with a retail business model, which have an important role as lenders to the economy.

After months of discussions, the European Commission has officially released the draft level 1 text of the new Market in Financial Instruments Directive (MiFID) and Regulation (MiFIR) on October 20th. This legislative action is bound to ignite sweeping changes in European financial markets. An ECMI lunch-time seminar will bring regulators, experts and market participants to discuss the details of the legislative proposal and its impact on markets.

The Payment Services Directive was intended to provide more price transparency for users and a level playing field for efficient competition among different payment services by decreasing the inhibiting effects of different legislation, cross-subsidisation and non-cost-based pricing. The European Commission, however, intended most of these effects to come about through market-led initiatives. In the run-up to the review of the Directive, Elina Pyykkö asks in this ECRI Policy Brief whether more could not be done to promote the use of efficient payment methods.

In all likelihood, the European Commission’s proposed tax on financial services, the financial transaction tax (FTT), will raise sizeable tax revenues, which explains its political appeal in the current context. However, the tax fails to address the key factors that contributed to the global financial crisis. In the absence of global or even EU-wide cooperation, many of the transactions subject to a tax will relocate to non-cooperating countries, thereby reducing revenue prospects and the effectiveness of supervision.

CEPS’ contribution to this study led by CASE was to carry out a Business perception survey and to provide an analysis of different business sectors in selected Euromed countries. 

Joint CEPS-VoteWatch.eu monthly debriefing. Participation in this meeting is free of charge. A sandwich lunch (€6) will be served before the event, from 12.30 onwards.

The objectives of the study are to understand the performance of cooperative banks in selected countries and to compare the developments and roles of cooperative banks in these countries with other banking groups (profit-making institutions) within national financial systems.

CEPS contributed to the collection and analysis of data on current accounts across Europe.

The main goal of the CEPS-IEMed Working Group is to conduct an independent assessment of the obstacles facing access to finance to the SMEs in the region, and to examine practical avenues to improve the status quo. As noted by Ambassador Senén Florenza (IEMed), Chairman of the Working Group and Rym Ayadi (CEPS), Rapporteur, in their introductory remarks, the outcome of the Working Group will serve as a “repository of reflections”, which will fill a serious gap by offering an in-depth analysis of the key issues and remain a reference for future initiatives.

This study compared the banking sector regulations in four Southern Mediterranean countries, Algeria, Egypt, Morocco, and Tunisia, to the international standards and most notably the EU’s Mediterranean members. It aimed to assess the extent of convergence between these systems and to distinguish between different regulatory and supervisory practices in their contribution to bank performance and economic growth.

This study will cover both an analysis of its legal implementation and its application in the market, featuring the perception of stakeholders. It will also compare the Directive's obligations with similar ones in major third countries and survey the control structures and barriers to takeover bids that are not covered by the Directive. This study is led by Marccus Partners (Mazars). Within CEPS, Diego Valiante and Mirzha de Manuel are conducting the analysis of the Directive and its impact from an economic point of view.