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Europe Daily Bulletin No. 13460

25 July 2024
Contents Publication in full By article 9 / 29
ECONOMY - FINANCE - BUSINESS / Banks
Basel III Accord, Commission proposing to postpone applying rules governing certain market activities in EU until January 2026
Brussels, 24/07/2024 (Agence Europe)

On Wednesday 24 July, the European Commission officially proposed to postpone by one year, until January 2026, the entry into force of provisions concerning the market activities of investment banks (‘Fundamental Review of the Trading Book’ or FRTB) included in the ‘Basel III’ package strengthening banking prudential requirements (see EUROPE B13420A31).

Announced last June (see EUROPE B13437A16), the postponement is due to the European Union’s desire to not disadvantage its...

Contents

FUNDAMENTAL RIGHTS - SOCIETAL ISSUES
RULE OF LAW: European Commission notes progress in respect for Rule of law in Member States, with exception of Hungary and Slovakia
SECTORAL POLICIES
HOME AFFAIRS: Sweden wants to redress balance of power between right to privacy and right to security in EU crime policies
DIGITAL: greater cooperation between Member States needed to make EU more resilient against cyber attacks
ENERGY: demand for coal continues to fall in Europe, with modest growth in electricity demand expected in 2024
ENERGY: German Ministry for Economic Affairs suggests centrally managed development of renewable energies in EU
AGRICULTURE: EU expert group publishes recommendations to protect food supply chain
FOOD SAFETY: EFSA reports increase in prevalence of Vibrio bacteria in seafood
ENVIRONMENT: EEB study shows EU has sufficient land for renewable energy without having to cut back on agriculture and nature
ECONOMY - FINANCE - BUSINESS
BANKS: Basel III Accord, Commission proposing to postpone applying rules governing certain market activities in EU until January 2026
COMPETITION: European, British and American authorities are adopting a common position in an attempt to protect competition in field of AI
TAXATION: European Commission believes that any change to current value added tax rules on vouchers would be premature
INSURANCE: insurance industry calls on EU to make use of “golden opportunity” offered by review of Solvency II Directive
Russian invasion of Ukraine
ECONOMY: EU looking for formula to strengthen legal security of loans to Ukraine pledged against future profits generated by Russian assets
SECURITY - DEFENCE
DEFENCE: according to Timo Pesonen, Member States have generally responded positively to EDIP
EXTERNAL ACTION
GREAT LAKES: Swedish diplomat Johan Borgstam proposed for EU Special Representative post
INSTITUTIONAL
EUROPEAN PARLIAMENT: The Left group appoints its coordinators for parliamentary committees
EUROPEAN COMMISSION: European Commission makes four appointments to DG COMM and DG COMP and to representations in Brussels and Warsaw
CITIZENSHIP: European Commission registers two ECIs, including one in favour of ‘cellular meat’
EDUCATION - YOUTH - CULTURE - SPORT
CULTURE: European Commission launches call for tenders to establish new European expert network
NEWS BRIEFS
AGRICULTURE: NGOs ClientEarth and BirdLife Europe refer CAP review to European Ombudsman
HUMANITARIAN AID: EU has coordinated its first medical evacuation operation for Palestinians from Egypt to Spain
BRAZIL: Jutta Urpilainen announces an EU contribution of €20 million to Amazon Fund
CULTURE: EU Member States approve creation of sub-group dedicated to international cultural relations within RELEX
CULTURE: Culture Moves Europe, 2,870 applicants selected for second call for individual mobility
ECONOMY : definitive green light from EU Council for a tranche of macro-financial assistance of €4.2 billion for Ukraine
ECONOMY: green light from European Commission for Luxembourg’s revised recovery plan, including ‘REPowerEU’ chapter
TAXATION: European Commission consults on proposal for electronic version of value added tax exemption certificate
YOUTH: twenty million children in EU at risk of poverty or social exclusion in 2023
FISHERIES: EU and Cabo Verde sign new fisheries protocol