This archive contains all documents published by cep over the last few years:
cepAdhoc: Incisive comment on current EU policy issues.
cepPolicyBrief: Concise 4-page reviews of EU proposals (Regulations, Directives, Green Papers, White Papers, Communications) – including a brief summary and economic and legal assessments.
cepInput: Impulse to current discussions of EU policies.
cepStudy: Comprehensive examination of EU policy proposals affecting the economy.
The EU Commission wants to create a framework for a pan-European Personal Pension Product (PEPP). An internal market for personal pensions will promote competition, channel savings towards the capital markets and away from traditional savings deposits in banks and increase the distribution of personal pension products in the EU.
The Commission wants to improve the rules in the EMIR Regulation, particularly those relating to over-the-counter derivatives. In the PolicyBrief on the proposal from the EU Commission for a corresponding Regulation, the easing of the clearing obligation for counterparties that only undertake limited derivative transactions is seen as appropriate because these do not represent a serious threat to the stability of the financial markets.
The EU Commission wants to strengthen the internal market for consumer financial services. In its analysis of the Commission’s Communication, cep regards as appropriate the Commission’s reluctance to bring in new rules on territorial restrictions because such restrictions are not per se limitations on the internal market.
The European Parliament discusses the EU Commission's proposal to introduce an EU deposit guarantee scheme. The cepAdhoc assesses the European Parliament's draft report.
This cepStudy examines the regulatory role of the European Supervisory Authorities (ESAs) and the EU Commission. cep makes ten recommendations for improving control and scrutiny of the ESAs' and the Commission’s activities at Level 2 and Level 3. These include calling on the Council to strengthen its monitoring structures. The ESAs should only be able to develop guidelines where Parliament and the Council do not object.
The Commission wants to reduce red tape with regard to the preparation of prospectuses which have to be published when securities are offered to the public or admitted to trading. This will give companies easier access to the capital markets. In cep's view, however, the proposal will result in distortions of competition and legal uncertainty.
The European Commission wants to remove barriers to cross-border retail financial services and has submitted a Green Paper on the subject. The portability plans set out therein, particularly for life insurance and private health insurance, are, however, in cep's view, unrealistic.
The EU Commission's proposed Regulation on the creation of a European deposit insurance scheme has sparked heated debate. Although the European Deposit Insurance Scheme (EDIS) is initially only intended to apply to the eurozone, in the future it will also apply to Member States who will join the common banking supervision by the ECB. The main component is the creation of a joint Deposit Insurance Fund to provide payouts to depositors and contributions to resolution.