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Author: EP think tank

EU Fact Sheets – The ubiquitous digital single market – 01-06-2016

The digital single market is one of the most promising and challenging areas of progress, creating potential efficiency gains of EUR 415 billion. It opens up new opportunities to boost the economy through e-commerce, while at the same time facilitating administrative and financial compliance for businesses and empowering customers through e-government. Market and government services developed within the digital single market are evolving from fixed to mobile platforms and becoming increasingly ubiquitous, offering access to information and content anytime, anywhere and on any device (ubiquitous commerce and ubiquitous government). These advances call for a regulatory framework that is conducive to the development of cloud computing, borderless mobile data connectivity and simplified access to information and content, while safeguarding privacy, personal data, cybersecurity and net neutrality. Source : © European Union, 2016 –...

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Briefing – Securitisation and capital requirements – 13-07-2016

As part of its ambition to create a Capital Markets Union, the European Commission wants to revive the securitisation market in the EU, in order to offer new financing tools and ease credit provision, especially for small and medium-sized enterprises. Its ‘securitisation initiative’, set out in a proposed regulation on 30 September 2015, would establish a new framework for ‘simple, transparent, and standardised’ (STS) securitisations. This new initiative also has implications for the overall prudential framework for credit institutions and investment firms, therefore the Commission proposed to amend the Capital Requirements Regulation (EU) No 575/2013 accordingly. The proposed amendments would adjust risk retention profiles to reflect properly the specific features of STS securitisations. The most significant changes are: a new hierarchy of risk calculation methods and lower capital requirements for STS. The Council agreed on a general approach on both dossiers in early December 2015. The draft report was presented in Parliament’s ECON Committee on 6 June 2016. This briefing updates an earlier edition of February 2016: PE 573.935. See also our updated briefing on the related proposal: 2015/0226(COD). Source : © European Union, 2016 –...

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Study – Harmonising Insolvency Laws in the Euro Area: Rationale, Stock-Taking and Challenges. What role for the Eurogroup? – 13-07-2016

There are four distinct areas where harmonising national insolvency frameworks can improve the functioning of the single market and the stability of the Euro area. Early restructuring of businesses, bank resolution, cross-border insolvency and NPL management rely on common features of local insolvency frameworks, which can affect their legal certainty and functioning. To promote a more entrepreneurial spirit, a pan-European framework for early restructuring of business could offer a true second chance for entrepreneurs. To benefit from a capital markets union, insolvency frameworks would also need to remove sources of cost unpredictability in cross-border insolvency procedures, which are often hidden in national insolvency laws or not sufficiently dealt with in the current EU framework. This report makes a contribution to define areas for further action. Measures, moreover, to harmonise insolvency laws can produce positive impacts on the banking union, with the harmonisation of hierarchies of claims in particular for the functioning of the resolution mechanism. Finally, the diffusion of best practices on credit recovery procedures can help to improve the management of NPLs via fostering liquidity in secondary markets. Source : © European Union, 2016 –...

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Briefing – TTIP: Access to consolidated texts and confidential documents – 12-07-2016

Like other negotiating documents, consolidated texts, which combine the ‘textual proposals’ of parties negotiating an agreement, are normally confidential. The text of an agreement is typically only published once negotiations are complete and the parties have reached agreement on a single text. In response to growing public concern and calls for greater transparency in negotiations, the EU has begun to engage more with civil society on the content of its negotiating objectives. The controversy surrounding talks on the Transatlantic Trade and Investment Partnership (TTIP) prompted the European Commission to publish the textual proposals tabled by the EU in its negotiations with the US. However, the US has not reciprocated, which means that consolidated texts and other documents referring to US positions remain classified. Initially, on the EU side, only officials with a ‘need to know’ and proper accreditation from the Commission or from a national government, as well as a limited number of Members of the European Parliament had access to these documents. However, in late 2015, the EU and the US reached an agreement under which all Members of the European Parliament and all members of the EU Member States’ national parliaments would have access to the consolidated TTIP negotiating documents. For further information on the ongoing TTIP negotiations, see the recent EPRS publication ‘EU-US negotiations on TTIP: A survey of current issues’, by Laura Puccio. Source :...

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In-Depth Analysis – Effectiveness of the ECB Programme of Asset Purchases: Where Do We Stand? – 15-06-2016

In this compilation of notes – requested by the Committee on Economic and Monetary Affairs (ECON) for the June 2016 Monetary Dialogue – a number of monetary experts (members of the monetary expert panel) review the ECB programme of asset purchases and make an assessment one year after its first implementation assess the effectiveness make an assessment of. Source : © European Union, 2016 –...

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Briefing – Cross-border parcel delivery services – 12-07-2016

High prices and the inconvenience of cross-border parcel delivery have been identified as being among the main obstacles to a bigger uptake of e-commerce among European consumers and retailers. Research shows that current cross-border parcel delivery prices charged by universal service providers can be almost five times higher than domestic parcel delivery prices. To remedy the situation, the European Commission in May 2016 presented a legislative proposal on cross-border parcel delivery services as part of its new e-commerce package. The proposal, which is set to increase the transparency of cross-border parcel delivery prices and improve regulatory oversight, should cost under €500 000 to implement according to Commission estimates. In their initial reactions, stakeholders have welcomed the move to improve price transparency in the sector, but have been more cautious regarding some other measures. The EU consultative committees have not issued opinions at this stage and national parliaments have until 25 July to react. Within the European Parliament, the file has been assigned to the Committee on Transport and Tourism (TRAN) and the appointment of a rapporteur is pending. Source : © European Union, 2016 –...

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