On 23 March 2015, the Basel Committee on Banking Supervision and the International Organization of Securities Commission (IOSCO) released a revision to the implementation schedule for margin requirements for non-centrally cleared derivatives. A delay of 9 months has been agreed, which will push the start of the phase-in period for posting and collecting margin back from 1 December 2015 to 1 September 2016.
After a year of tentative recovery in 2014, the Eurozone has moved into 2015 aided by two important growth drivers – sharply lower oil prices and QE according to the March 2015 issue of the EY Eurozone Forecast (EEF). These two factors will support a domestic recovery that began in 2014, helping GDP growth accelerate from 0.9% in 2014 to 1.5% this year and then 1.8% in 2016.
Europe’s medium-sized companies are overwhelmingly positive about the current state of business. Many plan to invest for growth in the coming six months, but sentiment varies strongly across the continent, according to the EY’s first European Mid-Market Barometer 2015, a study of 6,000 European companies with annual revenues between €10m and €500m, which includes Luxembourg.