The three reports by Draghi, Letta and Noyer remind policy makers that capital markets channelling savings into investments is key to competitiveness and economic growth. The recommendations of these reports could give new impetus to the long-standing flagship policy of the Capital Markets Union (CMU). In this briefing we show how securitisation, supervision, market infrastructure and savings/pensions schemes are identified as priorities in all three reports, however with different conclusions. We also discuss all other CMU recommendations in the reports.
Authors
- Pages
- 17
- Published in
- Belgium
Table of Contents
- How to achieve CMU, after all? 1
- An analysis of the recommendations for Capital Markets Union in the Draghi, Letta and Noyer reports 1
- 1. Introduction - scene-setter 1
- 2. Securitisation 4
- The three reports at a glance 4
- Related EU legislative initiatives on securitisation 6
- 3. Supervision 7
- 4. Market Infrastructures 9
- 5. Pensions and Savings 9
- 6. Harmonisation of business law 11
- 7. Other Proposals 13
- Supporting equity financing and venture capital in particular 13
- Stock exchange listings of smaller and innovative companies 14
- Infrastructure investment 14
- The role of banks and insurers in capital markets 14
- Financial literacy 15
- Disclaimer and copyright. The opinions expressed in this document are the sole responsibility of the authors and do not necessarily represent the official position of the European Parliament. Reproduction and translation for non-commercial purposes ar... 15
- ANNEX 16
