European Commission Green Paper on Building a Capital Markets Union

The European Association of Corporate Treasurers (EACT) welcomes the Commission's Green Paper on Building a Capital Markets Union. We think this is an important and much needed initiative from the Commission. Europe is in serious need of action to support its companies with efficient and well-functioning capital markets. The recent programme of financial regulation has concentrated on ensuring financial stability and on preventing a new crisis. Whilst this was necessary, these measures have had some serious negative consequences on the ability of non-financial companies to fund themselves, manage their risks and handle their liquidity. We view the Capital Markets Union as an opportunity for the EU to move beyond a post-crisis regulatory agenda and re-focus financial regulation, putting the needs of the real economy at the centre of their actions. We believe that an important part of the exercise should be to review existing legislation, keeping in mind what businesses need from the financial system and how it can help non-financial companies to grow, invest and create jobs. Some of the recent and planned regulatory initiatives - such as the proposed regulation of money market funds and the threat of an FTT implementation - create an unnecessary burden on businesses, inhibit recovery and fail to contribute in any way to financial stability. We will seek to make constructive input to the debate in order to ensure that future legislation will be well-targeted and balanced, thereby helping to create a competitive and thriving European economy. 

View Document

News


EACT Newsletter - February 2020

Photo from EACT Newsletter - February 2020

The latest issue examines the latest EU policy initiatives, assesses the impacts caused by interest rates below zero and reports on how European treasurers have joined forces on instant payments

View More

EACT Briefing Focus: Trade Finance Innovation

Photo from EACT Briefing Focus: Trade Finance Innovation

Trade Finance Innovation is a key topic for corporate treasurers. Recent decades have seen radical changes in the way we deal, shop, hedge, lend and pay, for example. Why shouldn't Trade Finance also deliver its full potential of transformation?

View More

EACT responds to European Commission consultation on implementing the final Basel III reforms in the EU

Photo from EACT responds to European Commission consultation on implementing the final Basel III reforms in the EU

The EACT is grateful for the opportunity to respond to this consultation on the implementation of the final Basel agreement in the EU. Read our position here.

View More

EACT responds to ESMA consultation on review of the Market Abuse Regulation and potential extension of its scope to FX spot markets

Photo from EACT responds to ESMA consultation on review of the Market Abuse Regulation and potential extension of its scope to FX spot markets

View the EACT's responses to the questions asked in the Consultation Paper on the MAR review report, published on the ESMA website.

View More

EACT Newsletter - December 2019

Photo from EACT Newsletter - December 2019

The latest issue features updates on what the new EU policy cycle for 2019-2024 will likely hold in store for financial services and corporate treasury, as well as event updates from various national associations.

View More