regulation of the “shadow banking system”. In response, the FSB released a report on 27 October 20111 on strengthening oversight and regulation of shadow banking. Building on this report and on the invitation [...] examine the regulation of other shadow banking entities2 and report in September 2012; and, (v) another FSB subgroup will work on securities lending and repos and report in December 2012. These work-streams [...] appropriate regulatory measures. 3. WHAT IS SHADOW BANKING? The October 2011 FSB report represents the first comprehensive international effort to deal with shadow banking. It focuses on (i) the definition
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associated with shadow banking? - How has shadow banking been regulatated until now? - What form should the regulation of shadow banking take in future? ► Types and activities of shadow banking – “At [...] regulation and oversight of shadow banking (p. 2). The European Commission’s current Green Paper takes up key aspects of the FSB report of October 2011. – The FSB defines shadow banking as a “system of [...] risks, as problems in shadow banking can trigger banking crises. (2) The available data on the activities of shadow banking entities is to be improved. Cons: (1) The term “shadow banking” is misleading
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4 Thus, whereas this report frequently refers to the shadow banking system as “non-bank credit intermediation”, in practice there are important links between the shadow banking system and regular [...] approaches for monitoring the shadow banking system 2.1 High-level principles for monitoring the shadow banking system There is no unique way to monitor the shadow banking system as it varies across [...] measures to address concerns related to the shadow banking system 3.1 General principles for regulatory measures related to shadow banking The shadow banking system includes a wide variety of activities
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defines the shadow banking system as “credit intermediation involving entities and activities (fully or partially) outside the regular banking system”. 2 Global Shadow Banking Monitoring Report 2013, 14 [...] availability in terms of shadow banking activities is essential. As highlighted in the Commission Communication on shadow banking and in the European Parliament Resolution on shadow banking of November 20125 [...] strengthened regulatory framework are needed to address the shadow banking system. The European Parliament's own-initiative report on shadow banking also highlighted the importance of appropriate measures
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Green Paper on shadow banking in which it looked at the identification and monitoring of all shadow banks and their activities [COM(2012) 102, see cepPolicyBrief]. A Communication on shadow banking followed [...] s. cepPolicyBrief]. In future they will have to report all securities financing transactions individually. ► Until now, investment firms had to report "financial instruments transactions" to the regulatory [...] (EC) No. 1287/2006]. In future they will also have to report all securities financing transactions. ► Until now, counterparties had to report derivatives contracts to a trade repository [Art. 9 (1)
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18 CPO Report (2019), pp. 209 et seq. 19 Conseil des Prélèvements Obligatoires (2019), Panorama de la fiscalité environnementale en France, p. 39, [hereinafter: CPO Special Report n°1 (2019)] [...] 23 CPO Report (2019), pp. 209 et seq. 24 “Taxes Locales sur la Consommation Finale d’Electricité” (TLCFE). 25 “Contribution au Service Public de l’Electricité” (CSPE). 26 CPO Report (2019), p [...] and telecommunications. 28 Calculation by the author based on data from CPO Report (2019), pp. 209 et seq. 29 CPO Report (2019), p. 50. 30 “Compte d’Affectation Spéciale Transition Energétique” (CAS
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members from the European Parliament report back to the responsible committee after every trialogue meeting.40 There is no requirement for the Shadow Rapporteur to report back to the political groups but [...] Rapporteur; other MEPs by the Shadow Rapporteurs in their political groups. The non-attached MEPs belonging to the leading Committee are also informed by way of the reports of the Rapporteur in the leading [...] European Parliament Conciliations and Codecision Secretariat: “20 Years of Codecision: Conference Report”, 2013, p. 4. cepInput Legislation by way of trialogue 7 A few rules about the procedure
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multilateral meetings, one public consultation on shadow banking, one public consultation on asset management issues including MMFs and a public conference on shadow banking. Through this process the Commission [...] solved and how to solve them. 2.1.1. Green paper on shadow banking The responses to the Green Paper offered a broad picture of the European shadow banking sector. This allowed for the development of [...] plan. The report outlining the results of the stress testing and the action plan shall be drawn in written format and shall be maintained for a period of at least five years. 6. The report with the results
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eu/internal_market/bank/docs/shadow/green-paper_en.pdf 7 This definition has been developed by the FSB Report of 27 October 2011 on strengthening oversight and regulation of shadow banking, http://www.fi [...] data protection rules. Chapter VIII Reports and review Article 33 Reports by EBA EBA shall, in cooperation with ESMA, prepare the following reports and submit them to the Commission within [...] knowledge of the level of shadow banking activities like repurchase agreements and securities lending. On 4 September 2013, the Commission highlighted in its communication on shadow banking9 that strengthening
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represent one of the highest standards in the asset management industry. Recent international work on shadow banking, coordinated by the Financial Stability Board (FSB), has identified certain areas in the [...] to foster a culture of long-term investment in Europe. While the Commission's Green Paper on Shadow Banking5 published on 19 March 2012 gathered first stakeholder comments on issues related to the [...] eu/LexUriServ/LexUriServ.do?uri=OJ:L:2011:174:0001:0073:EN:PDF. 3 http://www.esma.europa.eu/content/Report-and-consultation-paper-guidelines-ETFs-and-other-UCITS- issues 4 This consultation will be open
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