The Commission has published a working report on the progress and momentum around the CMU action plan since its launch in September 2015. The first report also sets out 11 key initiatives planned to begin in 2016 as well as outlining the preparatory work being undertaken for 2017 and 2018. Also published is a new edition of the European Financial Stability and Integration Review (EFSIR), focusing on the CMU and identifying developments in European capital markets. It covers trends in EU financial markets and funding structures, indicators for monitoring the evolution of EU capital markets and drivers of market funding. (Source: Commission reports on CMU and EFSIR)