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This note is prepared in view of a regular public hearing with the Chair of the Supervisory Board of the European Central Bank (ECB), Andrea Enria, which will take place on 14 October 2021. The briefing addresses: 1) Emerging risks in the banking group, as presented to the Eurogroup, 2) results of EBA’s and ECB’s 2021 stress test exercises, 3) the Basel Committee report on early lessons from the Covid-19 pandemic on the Basel reforms, 4) the ECB report on sanctioning activities, 5) the ECB Supervisory ...

'Independent fiscal institutions', or in some cases 'fiscal institutions', are an integral part of the EU's economic governance framework. This paper provides an introduction to these bodies and their role, the EU legal framework that underpins them, and a summary of the recent discussion around them in the context of the review of the wider economic governance framework in the European Union.

This briefing provides an overview of the advisory role played by independent national fiscal bodies in the preparations of the budgets of the EU Member States. The briefing is updated regularly. The objective of the analysis is twofold: 1) to give an overview of the set-up and functioning of these independent fiscal bodies based on the most recent assessments by the European Commission. 2) to give an overview of the extent to which the latest Stability or Convergence Programmes and the Draft ...

On the back of a number of high profile cases and alleged cases of money laundering, this briefing presents current initiatives and actions aiming at reinforcing the anti-money laundering supervisory and regulatory framework in the EU. This briefing first outlines (1) the EU supervisory architecture and the respective roles of European and national authorities in applying anti-money laundering legislation that have been further specified in the 5th AML Directive and (2) ways that have been proposed ...

One of the key lessons learned from the financial crisis in 2007-2008 is that in order to reduce the direct and indirect costs of bank failures for national governments, one has to have a credible framework in place to deal with banks’ failures, including clear rules as to the allocation of losses and the conditions attached to the use of common resources, to provide strong incentives for taking measures of precaution in good times and minimise losses in times of crisis. To that end, Europe has put ...

This note seeks to provide an initial analysis of the strengths and weaknesses of the European Commission's impact assessment (IA) accompanying the above proposal, adopted on 20 September 2017 and referred to Parliament's Committee on Economic and Monetary Affairs (ECON). Against the backdrop of the financial crisis and global efforts to safeguard financial stability, in 2011 the EU established three European Supervisory Authorities (ESAs) for the supervision of individual banking, investment, insurance ...

La Comisión Europea ha propuesto la revisión del Reglamento sobre la cooperación en materia de protección de los consumidores para ampliar su ámbito de aplicación y reforzar las competencias de las autoridades nacionales que cooperan en casos de infracción transfronteriza de la legislación de la Unión en este ámbito. Tras tres rondas de diálogos tripartitos, en 2014 se llegó a un acuerdo provisional que actualmente está a la espera de una votación en primera lectura en el Pleno de noviembre.

Las centrales nucleares producen en la actualidad alrededor de un tercio de la electricidad y el 14 % de la energía que se consume en la Unión Europea. La energía nuclear es una alternativa con pocas emisiones de carbono a los combustibles fósiles y constituye un elemento esencial de la combinación energética de muchos Estados miembros. Sin embargo, a raíz del accidente de Chernóbil en 1986 y de la catástrofe nuclear de Fukushima (Japón) en 2011, ha surgido una intensa polémica en torno a la energía ...

La protección de los datos personales y el respeto de la vida privada son derechos fundamentales importantes. El Parlamento Europeo ha insistido siempre en la necesidad de lograr un equilibrio entre el refuerzo de la seguridad y la tutela de los derechos humanos, incluida la protección de los datos y de la vida privada. La reforma de la protección de datos de la Unión fortalecerá los derechos de los ciudadanos, les brindará un mayor control de sus datos y garantizará que su privacidad sigue protegida ...

This study deals with the prevalence of corruption in the EU and describes the action taken to address the problem. It focuses on initiatives and policies implemented by governments at national, regional and local levels in eight selected Member States ranging from north to south and from west to east: Finland, the United Kingdom, France, Germany, Italy, Croatia, Romania and Bulgaria. The perception of corruption among citizens, the legal, institutional and policy framework, as well as some best ...