Traduction de «sistema bancario ombra » (Italien → Anglais) :

Similarly, it notes delay and recommends intensifying and accelerating action to clarify the crucial issue of strengthening oversight of the shadow banking sector, where mention is simply made of a few issues and the only future measure referred to is the review of the European System of Financial Supervisors (ESFS), to be performed by the Commission in 2013.

Venture capital funds should neither participate in systemically important banking activities outside of the usual prudential regulatory framework (so-called ‘shadow banking’) nor follow typical private equity strategies, such as leveraged buyouts.

15. Emphasises that some SB activities and entities may be either regulated or unregulated depending on the country; underlines the importance of a level playing field between countries, as well as between the banking sector and shadow banking entities, in order to avoid regulatory arbitrage which would result in distorted regulatory incentives; notes further that the financial interdependence between the banking sector and shadow banking entities is currently excessive;

1. Welcomes the Commission’s Green Paper as a first step towards the stricter monitoring and supervision of SB; endorses the Commission’s approach based on the indirect regulation and the appropriate extension or revision of existing regulation of SB; at the same time, underlines the need for direct regulation where existing regulation is found to be insufficient in some of its aspects in functional terms, while avoiding overlap and ensuring consistency with existing regulations; calls for a holistic approach to shadow banking, in which both prudential and market conduct aspects are important; notes an increasing shift to market-base ...[+++]d funding and retailisation of highly complex financial products; stresses, therefore, that market conduct and consumer protection should be taken into account;

4. Points out that since the crisis only a few of the practices of SB have vanished; notes, however, that the innovative nature of the SB system may lead to new developments that may be a source of systemic risk, which should be tackled; stresses, therefore, the need to collect, at European and global level, more and better data on shadow banking transactions, market participants, financial flows and interconnections, in order to obtain a full overview of the sector;

15. Emphasises that some SB activities and entities may be either regulated or unregulated depending on the country; underlines the importance of a level playing field between countries, as well as between the banking sector and shadow banking entities, in order to avoid regulatory arbitrage which would result in distorted regulatory incentives; notes further that the financial interdependence between the banking sector and shadow banking entities is currently excessive;