Archive for category Banking System

More Trade News in Brief Week 51 (16 – 22 December 2013)

 
* Switzerland Joins GNSS
 
Switzerland signed a cooperation agreement to participate in the Galileo and EGNOS programmes, the EU’s Global Navigation Satellite System (GNSS).
 
Check here for more.
 
 
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* Netherlands Signs IGA FATCA Agreement
 
Netherlands signed an Intergovernmental Agreement (IGA), implementing the US Foreign Accounts Tax Compliance Act (FATCA).
 
Please follow the link.
 
 
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* US & Libya Signed TIFA
 
The United States and Libya today signed a Trade and Investment Framework Agreement (TIFA).
 
Click here for more.
 
 
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* EU’s GSP Updated
 
The EU’s “Generalised Scheme of Preferences” (GSP) will change on 1 January 2014.
 
Please find more details here.
 

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EU towards Banking Union

 
15 October, Luxembourg
 
ECOFIN approved legislation setting up the Single Supervisory Mechanism and discuss steps towards to Banking Union.
 
Please following the link for more details.
 

 

 

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More Trade News in Brief Week 28 (8 – 14 July 2013)

 
 
* Taiwan & New Zealand Sign FTA
 
Taiwan signed its first FTA with a developed economy, New Zealand.
 
Check here for more.
 
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* Connecting Europe Facility
 
* EU – Single Resolution Mechanism (SRM)
 
The European Commission proposed a Single Resolution Mechanism (SRM) for the Banking Union, which would complement the Single Supervisory Mechanism (SSM).
 
Please follow the link for more.
 
 

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More Trade News in Brief Week 25 (17 – 23 June 2013)

 
* ICC Open Markets Index 2013
 
The ICC Open Markets Index is a biennial report which ranks the economies of the 75 based on four factors: observed trade openness, trade policy, openness to foreign direct investment and trade-enabling infrastructure.
 
The main conclusions of the ICC Open Markets Index 2013 are:
 
– G8/G20 countries failing to demonstrate global leadership on trade
– Canada the only G20 country in top 20 for openness to trade
– BRICS countries lagging due to restrictive trade policies
 
Check here for more.
 
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* China and Taiwan Sign Service Trade Agreement (STA)
 
According to the agreement signed between Chinese mainland and Taiwan, the mainland will open 80 service sectors to Taiwan, while Taiwan will open 64 sectors to the mainland.
 
Check here for more.
 
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* International Standard Banking Practice (ISBP) 2013
 
The revised 2013 guide published by ICC details banking practices to be applied when dealing with documentary credits that are subject to Uniform Customs and Practice for Documentary Credits (UCP 600).
 
Kindly follow the link for more.
 

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More Trade News in Brief Week 24 (11 – 16 June 2013)

 
* Israel & Columbia Signed FTA
 
10 June 2013, Jerusalem
 
Israel and Columbia signed a free trade agreement (FTA).
 
Read more here.
 
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* New EU Open Data Rules
 
13 June 2013, Brussels
 
The EU’s Parliament adopted the updated EU rules on the re-use of public sector information.
 
The aim of the rules is to make it easier for businesses to obtain access and permission to re-use government-held information.
 
Check here for more.
 
 
Open Data website.
 
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* Investor Education Gateway
 
 4 June 2013, Madrid
 
IOSCO revealed its new website feature – the Investor Education Gateway.
 
 This online tool is an education initiative and aims to enhance the sharing of investor education information.
 
Check here the new initiative.
 
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* A Common European Asylum System
 
12 June 2013, Strasbourg
 
EU adopted updated rules on asylum applications; these include common procedures, the creation of a basic set or rights for asylum seekers arriving in the EU and a proposal to stop transfers to member states struggling to cope with the number of asylum seekers and related responsibilities.
 
Kindle read the press release here.
 
DG Home Affairs website.
 

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More Trade News in Brief – Week 21 (20 – 26 May 2013)

 
* Switzerland & China FTA
 
Switzerland and China have signed a free-trade agreement. The deal is the first between China and a continental European economy.
 
Check here and here for more.
 
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* ICC – Authorized Economic Operator (AEO)
 
ICC has published a collection of standards to help border authorities determine a standardized definition of a diligent trader, commonly referred to as Authorized Economic Operator (AEO).
 
Read more here.
 
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* US & Myanmar Signed TIFA
 
The United States and the Republic of the Union of Myanmar signed a Trade and Investment Framework Agreement (TIFA).
 
Follow the link for more.
 
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* ISO – A Revised Standard for the Financial Services Industry
 
ISO has just published a revised version of the ISO 20022:2013 series on financial services, which ensures the reliable transfer of data, making financial transactions more secure.
 
Click here.

 

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More Trade News in Brief – Week 17 (22 – 28 April 2013)

 
* EU & Morocco to Start DCFTA Talks
 
22 April 2013, Brussels
 
The EU and Morocco started the first round of negotiations for an EU-Morocco Deep and Comprehensive Free Trade Area (DCFTA).
 
Check here for more.
 
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* IOSCO – Report on Technological Challenges to Market Surveillance
 
 22 April 2013, Madrid (Spain)
 
 The Board of the International Organization of Securities Commissions (IOSCO) published today a final report on Technological Challenges to Effective Market Surveillance: Issues and Regulatory Tools.
 
Read the report here.
 
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* ISO’s 2012 Annual Report
 
The ISO’s 2012 Annual Report examines the organization’s activities in the field of business and economy standards.
 
Discover ISO’s Annual Report 2012 here.
 
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* New ISO for Financial Services
 
ISO/ IEC published a new standard: ISO/IEC TR 27015:2012, Information technology – Security techniques – Information security management guidelines for financial services – guidance for organizations providing financial services.
 
Read more here.
 

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News from European Union

 
* Capital Requirements Regulation and Directive
 
The European Union approves new rules to stabilise and strengthen the banking system, Capital Requirements Regulation (CRR) and Directive (CRD).
 
Check the next links for more details:
 
EU Bank Capital Requirements Regulation and Directive
Parliament Votes Reform Package
 
 
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* New Business Rules
 
The European Commission approves new transparency rules for the extractive industry and simplification of accounting requirements for companies.
 
Check here.
 
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* European Satellite Navigation Systems
 
The European Council and European Parliament reach agreement on financing and governance of the European satellite navigation Systems (EGNOS and Galileo).
 
Please follow the link.
 

 

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