Commission evaluates SSR: The Commission has published a report on the evaluation of the Directive on short-selling and credit default swaps, based on an earlier quantitative assessment by ESMA. The report finds that the SSR has had some beneficial effects in volatility but reduced price discovery slightly. The Commission concludes that, even despite the low levels of disclosure on sovereign debt short-selling, the notification and disclosure thresholds are well calibrated and there is no need to change them. (Source: Report on the Evaluation of SSR)

BRRD final text agreed: The Commission, Council and EP have agreed the final text of BRRD. The
Directive still needs formal adoption but will take effect from 1 January 2015. The bail-in provisions will
apply from 1 January 2016 and national pre-funded resolution funds will have to reach at least 1% of
each Member State bank's covered deposits. (Source: Deal Reached on BRRD)