ESMA expects market-based finance to grow in the future driven by a strong potential for demand facilitated by a supportive policy environment and the limited ability of banks to finance the economy. The development of market financing as a complement to bank financing must be accompanied by an adequate and effective prudential framework because of the systemic nature of these activities.

In this article, the ESMA analyses how European legislation on securities markets already include a number of microprudential tools available to supervisors, which need to be taken into account when designing macroprudential tools for ensuring the stability of market-based finance.

ESMA expects market-based finance to grow in the future driven by a strong potential for demand facilitated by a supportive policy environment and the limited ability of banks to finance the economy. The development of market financing as a complement to bank financing must be accompanied by an adequate and effective prudential framework because of the systemic nature of these activities.

In this article, the ESMA analyses how European legislation on securities markets already include a number of microprudential tools available to supervisors, which need to be taken into account when designing macroprudential tools for ensuring the stability of market-based finance.

Antonio Tajani stressed the importance of a deal to safeguard people’s rights in the wake of Brexit during a meeting with UK Prime Minister Theresa May this morning. “The European Parliament’s message is clear: strongly defending their interests is our first priority,” he said. The Parliament President was in London to discuss the institution’s position on the Brexit negotiations, which was adopted in plenary on 6 April. He also invited May to address the Parliament.

In a press conference following the meeting, Tajani underlined the importance of an agreement on the rights of Europeans living in the UK and UK citizens living in the EU: The students, workers and families are valuable members of society and deserve some certainty regarding their future.”

In addition to meeting the Prime Minister, Tajani was also due to meet representatives from NGOs to discuss what people’s main concerns were regarding the Brexit negotiations.

Antonio TAJANI – EP President – following meeting with Theresa MAY – British Prime Minister – meeting 20/04/2017

Disclaimer: The interpretation does not constitute an authentic record of proceedings.

The simultaneous interpretation of debates provided by the European Parliament serves only to facilitate communication amongst the participants in the meeting. It does not constitute an authentic record of proceedings.

Only the original speech or the revised written translation of that speech is authentic.

Where there is any difference between the simultaneous interpretation and the original speech (or the revised written translation of the speech), the original speech (or the revised written translation) takes precedence.

Unless expressly authorised by the European Parliament, the use of the recorded interpretation for any purpose other than that mentioned above is strictly prohibited.

Committee on Employment and Social Affairs – meeting 25/04/2017 (PM)

Disclaimer: The interpretation does not constitute an authentic record of proceedings.

The simultaneous interpretation of debates provided by the European Parliament serves only to facilitate communication amongst the participants in the meeting. It does not constitute an authentic record of proceedings.

Only the original speech or the revised written translation of that speech is authentic.

Where there is any difference between the simultaneous interpretation and the original speech (or the revised written translation of the speech), the original speech (or the revised written translation) takes precedence.

Unless expressly authorised by the European Parliament, the use of the recorded interpretation for any purpose other than that mentioned above is strictly prohibited.