SAFE Finance Blog

New rules for OTC derivatives, updated standards on own funds and eligible liabilities, and guidelines on the MiFID II/MiFIR obligations on market data

In March 2020, a “dash for cash” driven by the Covid-19 crisis affected the liquidity of the US Treasury bonds market. While liquidity also declined in euro area sovereign debt markets, this appears to be driven by a “dash for collateral” in euro-denominated safe assets

Updated rules to strengthen non-financial reporting framework and to facilitate sustainable investment

Thomas Huertas: The euro area crisis management and deposit insurance framework is currently more likely to trigger new crises than prevent them. That is why a reset is needed, and why a reset may be feasible

Detailed rules for central counterparties extending their businesses, new standards for prudential consolidation, and draft law on the oversight framework in Germany after Wirecard scandal

In several respects, the German financial sector is one of the victims of the increasing export orientation of the German economy

Ignazio Angeloni: The reorganization of Germany’s financial market supervision should be seen as a preliminary step to boost market regulation and governance in the entire EU

New rules for investment firms, guidelines for disclosures under Taxonomy and Prospectus Regulations, and updated Basel III monitoring exercise

Ignazio Angeloni: The course of monetary policy should deal with the Corona crisis now but be sustainable later

Updated rules for the ESG disclosures, key information documents for retail and insurance-based investment products, and new standards for the remuneration of investment firms' material "risk-takers"

Thomas Mosk: The discretionary power of national authorities can effectively undermine well-intentioned supranational regulations in practice

After Wirecard and Brexit, the realignment of Germany’s Federal Financial Supervisory Authority can succeed if the authority is set up with the right leadership personality