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Graham Bishop @GrahamBishopcom

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Joined August 2009
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Graham Bishop retweeted
Federal Trust@FedTrust
May 22
Is Brexit breaking Britain - and would re-joining the EU and joining the euro be an answer to our economic problems? asks @GrahamBishopcom in a new paper for @FedTrust: fedtrust.co.uk/is-brexit-bre… #RejoinEU #Brexitproblems #sovereigndebt #Trump #IranWar‌
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I have decided to cease posting on X from now on. 9 Jan 2025
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As 2024 draws to a close, I have recorded a video with the #FederalTrust's Donnelly on my views about the prospects of a #Brexit reset for the #CityofLondon.. Sadly hopes of a major improvement are doomed as the plans will inevitably founder on the rock of derivative clearing.
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but focusses instead on the potential accession of many other small states…Perhaps the fevered UK debate about “reset” has not made it onto the EU’s radar screen.
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Sadly, in my latest video, I felt the need to explain why the reset is doomed – see below. In any case, the leaked draft of the Conclusions of tomorrow’s Heads of Government Summit (#EUCO) does not even mention the UK
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According to the #CityofLondon, the #UK remains the world’s top exporter of financial services, but questions remain about how much the #City might benefit from the #UKGovernment’s much-touted reset of relations with the #EU.
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profitability is holding at high levels and liquidity (on the traditional metrics!) is high. The #EU’s insurers were also given good marks in #EIOPA’s stress test but the #ECB and #EIOPA jointly suggested that insurance coverage of natural catastrophe’s needs to be improved.
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The resilience of the financial sector attracts much attention but the risk to the #sub-sea cables that carry its data is only just surfacing. Both #EBA and #SSM pronounced on the #EU’s banking sector:
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There are clear risks to financial stability from its leverage – echoed in the #ESRB’s recommendations following a review of its first decade. #Debtsustainability is also emerging as a major issue as #ECON’s study is sharply critical of the new rules.
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Highlights of my week: The Non-Bank Financial Institution (#NBFI) sector seems to be emerging from the shadows as the #FSB reported that, globally, it is now the same size as the traditional banking sector and growing much more rapidly.
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Want to read the stories that underlie the brief comments below? Subscribe at Grahambishop.com. We offer a service of our weekly e-mail (with live links) for just €5 per month
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They conclude that these possibilities are limited, given the commitment of the EU to retaining the greatest possible financial control within the euro area.
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A Brexit Reset for the City of London? youtu.be/H0475ECoPN8?si=1EWk… via @YouTube Graham Bishop and Brendan Donnelly discuss the possibilities for a reset of relations in the financial sector between the UK and EU.

A Brexit Reset for the City of London?

Graham Bishop and Brendan Donnelly discuss the possibilities for a ...

youtube.com
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and the #CityofLondon pointed out that the #UK raised as much new equity as #Paris and #Frankfurt together – but still ranked fifth in the world!
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The #ESAs examined the risks of the transition to #Fitfor55 climate standards and concluded that the transition alone would not pose risks to financial stability. Chancellor #Reeves delivered her #MansionHouse speech
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#ICMA concluded that one-size-fits-all regulation is not appropriate for the #NBFI sector. #COP29 ends tomorrow and the institutional investors’ group – #IIGCC- summarised the first week for investors. #IFRS provided a guide for companies to identify risks (and opportunities).
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capital requirement than #US banks. #Council finally agreed #EMIR3 and #ESMA promptly began asking about the Active Account Requirement (#AAR). #AFME published the next edition of its #CMU Performance Indicators – with bleak comparisons for the EU.
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fully the agreed reforms, especially on links to #NBFIs. #CEPS suggested that the #EU should not compare itself precisely to #US financial markets, given its very different characteristics and the #ECB seems split about publishing its report showing big #EU banks would have lower
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But that start will have as its backdrop the #ECB’s chilling assessment about the potential revival of the euro area debt crisis contained in its new Financial Stability Review. The #G20 meeting triggered calls from both #FSB and the Basel Committee (#BCBS) to implement fully
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Want to read the stories underlying these brief comments? Subscribe at grahambishop.com Highlights of my week: At the very last moment, #EuropeanParliament has agreed the new #Commissioners so “#UvL2” should be able to take office on 1 December.
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