Submission Under Consultation Process by the European Commission on the Structural Reform of the Banking Sector

2013 ◽  
Author(s):  
Charles James Larkin ◽  
Sean Barrett
Keyword(s):  
European Commission ◽  
Banking Sector ◽  
Structural Reform ◽  
Consultation Process

scholarly journals Analysis of submissions to the EU’s public consultation on tobacco traceability and security features

2020 ◽  
Vol 30 (Supplement_5) ◽  
Author(s):  
A Gallagher ◽  
K A Evans-Reeves ◽  
A B Gilmore ◽  
A Joshi
Keyword(s):  
European Commission ◽  
Tobacco Industry ◽  
Public Consultation ◽  
Multiple Choice Questions ◽  
Consultation Process ◽  
Trade Associations ◽  
Policy Positions ◽  
Illicit Trade ◽  
Lobbying Effort ◽  
T System

Abstract Background The Illicit Trade Protocol (ITP) requires all Parties to establish a tobacco track and trace (T&T) system. In 2016, the European Commission held a public consultation on T&T implementation in which interested parties were asked to respond online to 22 multiple-choice questions and were given additional opportunities to leave comments if desired. In May 2019, the EU's T&T system became operational. This paper explores tobacco industry influence over and policy positions within the consultation process. Methods The Illicit Trade Protocol (ITP) requires all Parties to establish a tobacco track and trace (T&T) system. In 2016, the European Commission held a public consultation on T&T implementation in which interested parties were asked to respond online to 22 multiple-choice questions and were given additional opportunities to leave comments if desired. In May 2019, the EU's T&T system became operational. This paper explores tobacco industry influence over and policy positions within the consultation process. Results Of the 197 consultation responses analysed, 131 (66.4%) had financial links to the tobacco industry. 89 respondents were trade associations, 74 of which were financially linked (33 had TTC members). 29 (22.1%) of the financially-linked respondents were not transparent about their links. There was a clear divide in the policy preferences of respondents with and without a financial link. Collectively, respondents with a financial link supported an industry-operated solution. Conclusions There was an extensive lobbying effort by the tobacco industry over the EU's T&T system, with TTCs' interests being represented repeatedly through multiple trade associations. The transparency requirements regarding consultation respondents' affiliations with relevant stakeholders (such as tobacco manufacturers) should be improved for future tobacco-related consultations. Key messages There was an extensive lobbying effort on the part of the tobacco industry Several respondents with financial links to the tobacco industry did not disclose these. Collectively, respondents with a financial link to the tobacco industry supported an industry-operated solution which would not have met the requirements of the ITP.

Part IV Regulatory and Other Developments in the UK 2010‒2016, 14 Financial Services (Banking Reform) Act 2013

2018 ◽  
Author(s):  
Mccormick Roger ◽  
Stears Chris
Keyword(s):  
Financial Services ◽  
Small Businesses ◽  
Banking Sector ◽  
Banking Industry ◽  
Banking System ◽  
Structural Reform ◽  
Professional Standards ◽  
Banking Reform ◽  
The Uk ◽  
Independent Commission

This chapter charts the passage of the Financial Services (Banking Reform) Act 2013. The Banking Reform Act was enacted in December 2013 and comprises of 8 parts and 10 schedules. The Act was intended to deliver on the government’s plan to create a more robust, better regulated and managed banking system, that supports the economy, customers and small businesses. The Banking Reform Act implemented the recommendations of the Independent Commission on Banking (on banking-sector structural reform) and the key recommendations of the Parliamentary Commission on Banking Standards (on behaviour, culture, and professional standards within the banking industry). The Act amended the FSMA, the Insolvency Act 1986, and the Banking Act 2009. It also provided the legislative platform for an enhanced accountability regime within financial services.

Portuguese coalition parties may clash over austerity

2016 ◽  
Keyword(s):  
Economic Growth ◽  
European Commission ◽  
Budget Deficit ◽  
Banking Sector ◽  
Content Type ◽  
Rating Agencies ◽  
Structural Funds ◽  
The Government

Significance This reflects the significant risks lying ahead for the government despite the European Council's decision on August 9 to waive fines for Portugal over its excessive budget deficit in 2015. Impacts The European Commission retains the possibility of suspending structural funds for Portugal. The decision to waive the fine could undermine the credibility of EU rules in the long term. Slower economic growth and the weak banking sector could lead to Portugal being downgraded by rating agencies.

State and tendencies of development of the banking system in the context of structural reform of the national economy of Ukraine

2020 ◽  
Vol 23 (12) ◽  
pp. 84-98
Author(s):  
Marta Barna ◽  
Nadiya Ruschyshyn
Keyword(s):  
National Economy ◽  
Government Regulation ◽  
Structural Changes ◽  
Banking Sector ◽  
Banking System ◽  
Bank Lending ◽  
The State ◽  
Structural Reform ◽  
Bank Capital ◽  
Stage Of Development

The relevance of the study lies in the fact that the fulfilment of the potential of the banking system is capable of providing positive structural changes in the economy of Ukraine. The purpose of the study is to analyse the state and trends of the banking system of Ukraine in the focus of its impact on the structural reform of the national economy. The study used methods of statistical analysis (to analyse the state and dynamics of the banking system) and the analogue method (to identify the extent of the development of the banking system on structural changes in the economy). It was substantiated that the effective functioning of the banking system is key to successful economic development of the national economy, in particular its reform. It is proved that a mechanism of redistribution of financial resources and money acts through the banking system; therefore, they are mobilised and involved in economic circulation in those sectors of the economy that need it most. The state and trends of development of the banking system as preconditions of fulfilment of its potential in structural reform of national economy are generalised. As a result of the analysis of the state and trends of the banking system, both their positive and negative features were identified. It is proved that in Ukraine, at the present stage of development of the national economy, the banking system has been cleared of low-liquid and conditionally fictitious banking structures, the volumes of assets, in particular highly liquid ones, are growing, and the loan portfolio of banks is improving, their financial results, liquidity and solvency, resistance to currency shocks, bank lending to the economy increase. The study also demonstrated that the country's banking system is described by a number of systemic shortcomings, especially the high level of concentration of bank capital and deposits in the largest banks, as well as state banks in a number of segments of the banking sector by number of departments, ATMs, terminals, active payment cards. There is a trend to weaken the penetration of the banking sector into the economy, especially in terms of affordable lending to individuals and strategic sectors of the economy. The practical value of the study lies in the fact that based on the identified shortcomings of the banking system and its impact on structural reforms, strategic lines of work for improving government regulation in this area have been identified

Structural reform and petroleum (environment) regulations in the Northern Territory

2016 ◽  
Vol 56 (2) ◽  
pp. 565
Author(s):  
Jop van Hattum ◽  
Victoria Jackson
Keyword(s):  
Sustainable Development ◽  
Hydraulic Fracturing ◽  
Oil And Gas ◽  
Northern Territory ◽  
Regulatory Framework ◽  
Structural Reform ◽  
Oil And Gas Development ◽  
Consultation Process ◽  
Ecologically Sustainable ◽  
Ecologically Sustainable Development

The opportunity for onshore oil and gas development in the Northern Territory (NT) has grown exponentially in recent years, driven by the NT’s expansive shale gas resources in the McArthur Basin and elsewhere. Such resources provide many potential benefits to the territory’s economy, including job creation and clean, cost-effective energy generation opportunities. Critical to the successful development of the industry is a legitimate social licence to operate with the community, for which strong environmental regulation is a key enabling factor. Communities must be assured that oil and gas activities can provide ecologically sustainable development, and a transparent, evidence- and risk-based framework is the best way to achieve this. Following the NT Inquiry into Hydraulic Fracturing by Dr Allan Hawke in November 2014, and further review of the environmental assessment and approval processes in May 2015, the NT Government has implemented structural reform and developed contemporary outcome-focused Petroleum (Environment) Regulations to balance environmental protection with the economic development benefits offered by the onshore gas industry. Those objectives include that petroleum development in the NT: is consistent with the principles of ecologically sustainable development; reduces risks and impacts to levels that are as low as reasonably practicable and acceptable; ensures meaningful engagement with stakeholder; and, provides for transparency of decision-making and publication of approved environment management plans in full. This extended abstract provides an update of the reform of the regulatory framework, the regulatory objectives, the regulations by which they’re achieved, and the consultation process followed to gain wide stakeholder support. It will also highlight that strong regulations alone do not provide a robust regulatory framework, and the steps the NT Government is taking to achieve its objective. The regulations are planned to come into force in the third quarter of 2016. Meanwhile, a full review of the NT Petroleum Act and development of Petroleum (Resource Management) Regulations that takes into consideration the recommendations from the Hawke Inquiry into Hydraulic Fracturing in the NT is underway.

Banking Sector and Corporate Structures—The Scope of the Recovery and Resolution Framework

2016 ◽  
Author(s):  
Michael Schillig
Keyword(s):  
Banking Sector ◽  
Financial System ◽  
Organizational Structures ◽  
Structural Reform ◽  
Regulatory Regime ◽  
Legal Nature ◽  
Scope Of Application ◽  
Path Dependent ◽  
Historical Accident

The financial system is populated by a wide variety of different institutions, within and across jurisdictions. Their structure and legal nature is largely path-dependent on the applicable regulatory regime, which in turn may be the result of historical accident rather than conscientious planning. This chapter seeks to delineate the scope of application of the recovery and resolution frameworks. In this context it is necessary to have a closer look at the structure of the banking and financial sectors in the jurisdictions under consideration. Despite considerable convergence, significant differences remain. This has consequences for the prevalent corporate and organizational structures, which, in turn, have important implications for recovery and resolution planning and for the application of resolution tools and powers. Structural reform efforts seek to further improve resolvability.

The Troika, Ireland, and Portugal

2017 ◽  
Author(s):  
C. Randall Henning
Keyword(s):  
Central Bank ◽  
European Central Bank ◽  
Program Design ◽  
Banking Sector ◽  
Critical Role ◽  
Institutional Arrangements ◽  
Structural Reform ◽  
Fiscal Sustainability ◽  
European Central ◽  
Fiscal Adjustment

This chapter examines the organization of the troika as it was constituted for the first Greek program and then renewed for the programs for Ireland in late 2010 and Portugal in spring 2011. It reviews the modalities of the troika’s negotiations with borrowing countries and several, though not all, points of disagreement among the three institutions over program design: financing, fiscal adjustment, banking sector restructuring, and structural reform. The Irish crisis resulted from excessively risky lending through the banking sector, whereas the Portuguese crisis inhered in structural rigidities with consequences for the banking sector and fiscal sustainability. The programs for these countries demonstrate that the European Central Bank played a critical role through decisions on Emergency Liquidity Assistance (ELA) and bail-in of private creditors to banks, while its policies lay outside the programs’ scope. They also demonstrate that creditor governments effectively decided the institutional arrangements for the rescues.

Reflections on the Memorandum on Lifelong Learning

2001 ◽  
Vol 7 (2) ◽  
pp. 109-114 ◽  
Author(s):  
Pat Davies
Keyword(s):  
Lifelong Learning ◽  
European Commission ◽  
Maastricht Treaty ◽  
Primary Objective ◽  
Consultation Process ◽  
The Future

In this paper the build up to the recent European Commission Memorandum on Lifelong Learning is described through an analysis of previous actions since the Maastricht Treaty. The particular messages of the Memorandum and the subsequent consultation process are detailed. A primary objective is that there should in the future be ‘joined-up’ policies and activities between different EC programmes. However, there should be concern that while breaking down boundaries between sectors, new boundaries are being constructed around different forms of learning, with the holistic nature of formal, informal and non-formal nature becoming lost.

scholarly journals State aid in banking sector

2012 ◽  
Vol 60 (2) ◽  
pp. 207-210
Author(s):  
Jana Mikušová
Keyword(s):  
European Union ◽  
European Commission ◽  
Banking Sector ◽  
State Aid ◽  
Mortgage Market ◽  
The European Union ◽  
Member States ◽  
Small Circle ◽  
Globalized World ◽  
The U.S

The financial crisis has hit Europe with a truly unprecedented power, which has in early 2008 expected only a very small circle of pessimists. After the first cracks began to appear on the mortgage market in the U.S., however, started an avalanche that rolls until today. In today’s globalized world, it would be very naive to believe that this would not have an impact on the European Union internal market.With the crisis in the banking sector, the Member States of the European Union fought against the crisis in various ways. Allocation of the state aid in the first months of the crisis took place within the existing rules, yet it was necessary to enclose these huge expenditures by rules and regulations issued by the European Commission.This article discusses the types of state aid, which were used at the time from the first wave of state aid granted by Member States from 2008 to 2010 and also assess the current situation together with the evaluation of the approach of the European Commission.

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