Brussels for Breakfast
Held on Tuesday, September 15
With support from the British Bankers’ Association
Graham Bishop (grahambishop.com)
Simona Amati (Kreab)
So, what’s been going on in Brussels while you have all been sunning yourselves on the beach in Barbados or Bali?
Personally, I don’t know – but I know a Man Who Does. I gather that our friend Lord Hill is about to release his Action Plan on CMU. I also gather that he is keen to roll back some of the more onerous capital requirements that M. Barnier imposed on asset-backed securities – at least, on simpler and more transparent ABS transactions. That is all part of a push to revive the European securitization market. I also gather that Lord Hill is proposing changes (on ‘equivalence and recognition’) to EMIR, and that the Commission is asking the EBA for advice on the net stable funding ratio and the leverage ratio under CRD. And so on… PSD2, data protection, the Securities Financing Transactions Directive.
The ‘Man Who Does’ is, as always, the ubiquitous Graham Bishop – consultant to the gentry, through grahambishop.com. There is no one in London who has a better feel for the warp and woof of European legislation than Graham. This month, he gets special help from Simona Amati, director of economic and financial services policy at Kreab in Brussels. She is a former coordinator at the Luxembourg CB who chaired the Eurosystem’s working group on market infrastructure.