Accounting
ABI position paper on exposure draft of amendments to IAS 39 “Exposures Qualifying for Hedge Accounting”
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ABI comments on CESR document “Statement on Fair value measurement and related disclosures of financial instruments in illiquid markets”
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Supervision
Supervisory arrangement
EC proposal for a directive amending the Crd
• ABI position
The Italian Banking Association (ABI) welcomes the EC proposal of Directive amending the CRD because it acknowledges all the proposals we put forward in our position response to the EC consultation on the supervisory arrangements.
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• ABI comments on Commission Services staff working document:“Possible further changes to the capital requirements Directive” (april 2010). Full text >>
Large exposures
EC proposal for a directive amending the Crd
ABI position
The main concern for ABI are the national discretions that the Commission is keeping in the proposal of Directive amending the CRD; we believe that all the national discretions contained in the proposal should be deleted in order to ensure a level playing field and to develop consistent supervisory approaches across the EU. Applying the same rules at continental level would indeed permit to provide national authorities, colleges of supervisors and central banks with consistent and reliable data to conduct solvency analysis and impact assessments in normal times and in crisis situations.
In our proposal of amendments (see enclosure) we therefore propose to delete the possibility for Member States to define national discretions and we call for clarity in the definition of connected clients and in the reporting frequency. Obviously, we think that it is not acceptable to discriminate against the Euro in the possibility to exempt overnight interbank lending.
ABI Comments on IASB Discussion Paper "Reducing complexity in reporting financial instruments"
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Market disclosure (Pillar 3)
On 30 June 2008 the industry published a draft industry guidelines “Good Practice Guidelines on Pillar 3 Disclosure requirements for Securitisation”. On the basis of the responses received, the Working Group will finalise the guidelines. These guidelines could be adopted by the banks that will publish Pillar 3 disclosures in 2009.
The Working Group believes that the guidelines should not be static but be subject to review and revision. For example, these industry guidelines should be updated in light of Basel Committee’s recommendations that the BCBS will issue by 2008 in order to strengthen disclosure requirements under Pillar 3.
On 15 September ABI sent its comments to industry Working Group.
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Class action
Examination of draft laws introducing class action lawsuits for the protection of consumers
Hearing of the President of the Italian Banking Association Corrado Faissola. Chamber of Deputies – Justice Committee. Rome, 4 April 2007
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The Hague convention
ABI remarks on the "Reflection paper DGMarkt: Conflict of laws, modenisation of the PRIMA rule for the intermediates securities"
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