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Europe Daily Bulletin No. 12455

27 March 2020
Contents Publication in full By article 17 / 37
EU RESPONSE TO COVID-19 / Finance
COVID-19, industry is calling for a delay in application of initial margin requirements for non-centrally cleared derivatives
Brussels, 26/03/2020 (Agence Europe)

21 financial organisations requested on an extension of the compliance dates Thursday 26 March for initial margin requirements for non-centrally cleared derivatives to take into account the challenges faced by companies in the face of the COVID-19 pandemic.

In a letter to the Basel Committee on Banking Supervision (BCBS) and the International Organization of Securities Commissions (IOSCO), these organisations – including the European Banking Federation, the Association for Financial...

Contents

EUROPEAN COUNCIL
EUROPEAN COUNCIL: despite divisions, Twenty-Seven already want to think about how to get out of pandemic
EUROPEAN PARLIAMENT PLENARY
HEALTH: European solidarity at issue in European Parliament over Covid-19
TRANSPORT: MEPs support Council's position allowing airlines to derogate from slot regulation
COHESION: European Parliament united behind emergency measures to combat COVID-19
PARLIAMENT: revised calendar of European Parliament plenary sessions up to July
EU RESPONSE TO COVID-19
STATE AID: Commission approves Italian State guarantee scheme to support SMEs affected by coronavirus outbreak
ECB: operation PEPP, monetary institute gives itself a free hand to repurchase sovereign bonds
BUDGET: European Parliament Budgets Committee calls for €7 billion more to be mobilised in response to COVID-19 crisis
FISHERIES: new aid for fishermen and women should be released quickly because of COVID-19, according to Pierre Karleskind
AGRICULTURE: Commission prepares new measures to help farmers whose activities are affected by COVID-19
INTERNAL MARKET: European Commission seeks to increase production of medical equipment
DIGITAL: European Commission pledges to respect confidentiality of mobile data extracted to combat COVID-19
DIGITAL: Commission closely monitoring cyberattacks on hospitals in midst of coronavirus crisis
CIVIL PROTECTION: European Commission in contact with Beijing about shipping of COVID-19 assistance pledged by China
WESTERN BALKANS: European Commission announces more than €400 million for countries in region to deal with COVID-19
MIGRATION: three European Parliament groups call on Commission to investigate Greece’s actions towards migrants
FINANCE: COVID-19, industry is calling for a delay in application of initial margin requirements for non-centrally cleared derivatives
FINANCE: Covid-19, ESMA updates position on supervision of securities finance transactions
DEMOCRACY: “nearly half of this week's disinformation” relates to Covid-19 outbreak
EXTERNAL ACTION
G20: COVID-19, G20 leaders ready to mobilise $5 trillion for a robust global response
FOREIGN AFFAIRS: High Representative of Union calls for international coordination on COVID-19 pandemic
TRADE: EU learns to be cautious of global dependency
WTO: Azevêdo believes that looming economic recession will be worse than financial crisis of 2008
SECURITY - DEFENCE
CSDP: EU Council agreement on launch of Irini mission
COURT OF JUSTICE OF THE EU
POLAND: even if their applications are inadmissible, Polish judges who have appealed to EU Court of Justice should not suffer consequences
CONSUMERS: credit agreement must clearly state how withdrawal period is to be calculated according to Court
CONSUMERS: Court clarifies concept of ‘matters relating to a contract’ within meaning of rules on jurisdiction
COUNCIL OF EUROPE
HUNGARY: Viktor Orbán sweeps aside Council of Europe criticisms of state of emergency
NEWS BRIEFS
HOME AFFAIRS: Jean Asselborn hopes for rapid re-establishment of Schengen area, celebrating its 25th anniversary
ALGERIA: Ms Arena and Mr Cozzolini denounce judicial harassment of Karim Tabbou
BIODIVERSITY: risks of pesticides for bees, EFSA consults on revision of its guidance document
ENLARGEMENT: French EPP delegation to European Parliament dissociates itself from its group during opening of EU accession negotiations in Skopje and Tirana
ENERGY: Commission extends public consultation on revision of network codes
FINANCE: Indonesia and Norway join International Platform on Sustainable Finance
KOSOVO: EU laments motion of censure voted against government
UNITED KINGDOM: first meeting of Joint Committee for Northern Ireland Protocol will be held on 30 March by videoconference
VIETNAM: EU Council green light for FTA expected on 30 March