Brussels, 04 February 2020
WK 1354/2020 INIT
LIMITE
EF
ECOFIN
FSC
WORKING PAPER
This is a paper intended for a specific community of recipients. Handling and
further distribution are under the sole responsibility of community members.
WORKING DOCUMENT
From:
General Secretariat of the Council
To:
Financial Services Committee
Subject:
Financial Services Committee - 22 January 2020, Draft minutes
WK 1354/2020 INIT
LIMITE
EN
European Union
Financial Services Committee
——————
The Secretariat
Brussels, 22 January 2020
FINANCIAL SERVICES COMMITTEE
22 January 2020, 09:00
Draft minutes
1. The agenda (WK 437/2020) was adopted and the minutes of the meeting on
3 December 2019 (WK 325/2020) were approved.
DISCUSSION ITEMS
2. FinTech/Digital Finance Strategy and cyber risks, including crypto assets and digital
operational resilience
The ESRB informed the Committee on the systemic implications of cyber risks and
Commission informed the Committee on their FinTech and Digital Finance Strategy.
o
Background documents:
Presentation by the Commission
Presentation by the ESRB (WK 570/2020)
3. IMF Financial Sector Assessment Programme – experiences of Member States
The Committee had a discussion based on interventions of Member States that went
through the IMF's Financial Sector Assessment Programme recently. Members States
interventions focussed on (a) main findings of the report, (b) (possibly reactions to or
comments on these findings, and (c) the experience with the assessment process
INFORMATION ITEMS
4. European Green Deal (10:30-11:00)
The Commission was unable to present on this point and the item was removed from the
agenda.
5. ESAs work on sustainable finance, including short-termism (11:00-11:30)
The ESAs updated the Committee on their work on sustainable finance, including
short-termism
o
Background documents: joint presentation by the ESMA (WK 460/2020),
EBA (WK 554/2020) and EIOPA (WK 555/2020)
6. Occupational Pensions Stress Test 2019 (11:30-12:00)
EIOPA updated the Committee on the results of 2019 IORP stress tests
o
Background documents: presentation by the EIOPA (WK 456/2020)
Lunch break (12:30 - 14:30)
7. Macroprudential view on banks’ level 2/3 instruments (12:00 - 12:30)
The ESRB updated the Committee on their ongoing work on banks' level 2 and level 3
instruments
o
Background documents: presentation by the ESRB (WK 457/2020)
8. AoB (14:30 - 15:30)
Under AoB Item the Committee was updated on:
Priorities of the Croatian Presidency
o
Background documents: presentation by the Croatian Presidency
(WK 604/2020)
International financial regulatory issues: oral update by the Commission
Annual Statistical Report on EU derivatives markets (EMIR)
o
Background documents: presentation by ESMA (WK 462/2020)
Euro Retail Payments Board (ERPB): short oral update by the FSC Vice-chair
________________________
Document Outline