Europe 2020 Project Bond Initiative: Frequently asked questions. European Commission Brussels, 5 July 2012 Europe 2020 Project Bond Initiative: Frequently asked questions On 5 July 2012, the European Parliament adopted the proposal for a pilot phase of the Project Bond Initiative. Last October, the European Commission proposed the creation of project bonds for infrastructure investment, as a new tool to unlock private funding. This initiative marks another building block in the European Commission's actions to revive growth through investment in the European Union. The basic principle underpinning this initiative is a better use of public banks better. Q1: What are the main objectives of the Initiative? The Project Bond Initiative aims to revive project bond markets and to help the promoters of individual infrastructure projects to attract long-term private sector debt financing by reducing the risks of the projects (see IP/11/236 and MEMO/11/707 ).
Q2: Why target infrastructure? Q3: What is the purpose of the pilot phase? Q5: How does it function? No. Short selling: Commission adopts delegated act detailing rules on the ban on uncovered sovereign credit default swaps and short sales of shares and sovereign debt. European Commission Press release Brussels, 5 July 2012 Short selling: Commission adopts delegated act detailing rules on the ban on uncovered sovereign credit default swaps and short sales of shares and sovereign debt The European Commission has today adopted a Delegated Act which sets out important technical rules needed to ensure the uniform application and enforcement of the Short Selling Regulation.
In particular, the delegated act specifies the cases in which sovereign credit default swaps are considered covered, and therefore not banned in accordance with the Regulation. Commissioner Barnier said: "We cannot tolerate speculation on uncovered sovereign credit default swaps. Background The delegated act also details technical rules on a number of other key issues, including: The delegated act was drafted by the Commission, taking into account the technical advice received from ESMA, as well as the findings of the Commission's impact assessment report.
More information. Esma | New restrictions for rating agencies. EC Audiovisual Service - Video. EC Audiovisual Service - Video. A step forward – but a small one!