EU Economy and Finance

How would European Commission align OECD/G20 Inclusive Framework Two-Pillar Solution with the #BEFIT proposal? 🗣 "One possible way to achieve greater simplification is to open the scope of BEFIT to all entities controlled by a group. This would mean the groups in scope of BEFIT would fully align with the scope of the Pillar 2 group." - Bert Zuijdendorp, Head of Unit for Company Taxation. Watch the full BEFIT webinar now live here 👉 https://lnkd.in/d7w8DdnC #BEFIT_FAQ

The European Commission is proposing to postpone by one year, i.e. until 1 January 2026, the market risk prudential requirements under the Basel III banking reform in the EU. As the implementation of the Basel standards in the US and UK are likely to be delayed, this measure will preserve the international level playing field for EU banks and avoid a negative effect for EU markets and customers. The act is subject to the scrutiny of the European Parliament and Council for a period of three months. All other Basel III requirements will apply from 1 January 2025. By doing so, the EU is among the first major jurisdictions to finalise the implementation of the standards.  Find out more: https://lnkd.in/ep4Mm9xy #EUbanking #EUbasel3 

Registrations for our AI in finance workshops close this week.  Are you a financial stakeholder? Help us shape the future of AI in finance by sharing your insights. We're hosting three workshops on AI in finance with the European Supervisory Authorities and national supervisors this autumn. Participants will exchange experiences, present projects and discuss the latest developments.    We are also running a targeted consultation to identify the key use cases, benefits, barriers and risks of AI in finance.     👨🏻🏫 To participate in our workshops, register by 26 Jul 2024: https://lnkd.in/eXgZq_7P    ✍🏻 To take part in the consultation, complete our questionnaire by 13 Sep 2024: https://europa.eu/!jyWdkR     hashtag#AI hashtag#DigitalEU hashtag#EUHaveYourSay 

Securitisation, when soundly structured, is an important tool for funding, capital management and credit risk management within developed capital markets. It can direct capital more efficiently to households and businesses by widening the economy’s investor base.   On 3 July, the European Commission hosted a workshop on reviving securitisation in the EU. The event invited stakeholders from across the European market to share their views on possible changes to the regulatory framework in the context of strengthening the Capital Markets Union (CMU).   Banks, insurers, asset managers, pension funds, and supervisors came together to discuss: ➡️Identifying barriers to issuance and investment    ➡️Prudential requirements for banks and insurers  ➡️Developments in simple, transparent and standardised (STS) issuance as well as possible growth areas and sectors   ➡️Improvements in due diligence and transparency requirements    As part of its ongoing review of the securitisation framework, DG FISMA will launch a targeted public consultation in the coming months.  Find out more about securitisation: https://lnkd.in/eT9G96yV 

What does the #BEFIT proposal aim to achieve ❓   The EU corporate #tax landscape can be complex, but BEFIT seeks to streamline and simplify it. By aligning with the OECD/G20 Inclusive Framework Two-Pillar Solution rules and reducing compliance burdens, BEFIT aims to make doing business across the EU easier.   📢 Watch our BEFIT webinar video with Bert Zuijdendorp, Head of Unit for Company Taxation 👇 https://lnkd.in/d7w8DdnC #BEFIT_FAQ

Great news: The European Commission and the Bulgarian Development Bank signed new #InvestEU guarantee agreement worth €40 million to support Bulgarian SMEs with investments over €1.2 billion. The InvestEU programme aims to mobilise more than €372 billion in additional investment across Europe over the period 2021-27 for European Union policy priorities. 💡 Find out more: https://lnkd.in/e3YTYuGh

This week we have raised €9 billion of #EUBonds on the financial markets!   🗓️ The dual-tranche transaction, the first under the Commission’s EUR 65 billion funding plan for H2 2024, involved a new €5 billion bond due on 5 October 2029, and a €4 billion tap of the EU-Bond maturing on 5 October 2054.   EU bonds were oversubscribed approximately 13-times and 20-times, respectively 📈.   The strong response is reflective of the deep support the EU enjoys from the global investor community 💶 and is testament to the ongoing commitment to investor engagement and the transparency and consistency with which the EU undertakes its funding task.   Proceeds from EU Bonds finance EU policy programmes, most notably in the context of NextGenerationEU, support to Ukraine (through the Ukraine Facility) and other programmes, increasing Europe’s and our Neighbourhood’s resiliency and the green 🌱 and digital transition 📲   EU-bonds are also strengthening the role of the Euro as a global currency. Diversification equals de-risking.   EU-Bonds help Europe get fit for the future! 🚀   Read more: shorturl.at/veVJA

Save the date – 26 September 2024 📅 The European Commission is hosting a roundtable event on scaling up in the investment funds sector as well as consolidation in trading and post-trading infrastructure. The aim of the event is to exchange ideas about the recently strengthened political focus on consolidation across various market segments, looking at its potential upsides, downsides and regulatory constraints, against the background of the objectives on the Capital Markets Union project and EU competitiveness.    Registrations are open until 15 September.  More information: https://lnkd.in/eFm2PzP2

The European Commission's #BEFIT proposal could reduce current tax compliance costs for businesses by up to 65 % with a single set of rules. 📈   Expand your knowledge of how these regulations would simplify the corporate tax system, making life easier for large businesses in the EU.   Watch the new video from our webinar and learn more here ⬇   https://europa.eu/!gmk8RF

🚀   The European Investment Fund (EIF) has teamed up with 3 leading Baltic banks – LHV Bank, SEB and Swedbank – to unleash over €720 million in new financing across Estonia, Latvia and Lithuania.   Key highlights: 🔹 EIF guarantees to support businesses, individuals, and housing associations. 🔹 More than 50% of the financing dedicated to sustainable investments. 🔹 Agreements will lead to improved loan terms, including lower interest rates. 🔹 Supported by the InvestEU programme.   These guarantee agreements, signed today in Tallinn, will drive lending for projects that promote climate protection and environmental sustainability in the region. 🌍🌱   Together, we’re paving the way for a greener and more sustainable future in the Baltic states! 💪   #EIF #InvestEU #BalticBanks #Sustainability #ClimateAction #GreenFinance #LHV #SEB #Swedbank ▶ Read more: https://lnkd.in/eqSQ-pS5