Bavaria: center of international finance

Munich Financial Center Initiative (known by its acronym in German of "fpmi") is a leading body of advocacy of Bavaria's financial community. The Initiative has some 50 members. They are financial companies (banks, insurers and others), associations and public sector institutions undertaking scientific research. The Initiative has given itself two briefs. The first is making the importance of Bavaria's financial community known on the national and international level. The second is shaping the conditions under which the financial sector operates in the Germany and European-wide spheres. To accomplish the latter, the Initiative compiles position papers on and appraisals of the issues shaping the discourse of the insurance sector and of other components of the financial industry.

News

"The British financial community is welcome in Bavaria"

Munich's financial community is looking forward to welcoming British companies and expatriates!

Munich, 06.07.2016 The British have voted to leave the EU. Many members of the British financial community may now vote to remain part of the EU – by moving from the UK to the Union. Up to 80,000 financial specialists may relocate from London to bases in the EU. "Munich is home to one of Europe's most important financial communities. As is the case with the rest of Bavaria, Munich offers Europe's financial sector and its highly-qualified staff members everything that they need and expect," states Andreas Schmidt, spokesperson for Munich Financial Center Initiative (known by its German acronym of "fpmi") and member of the board of Bayerische Börse AG, which operates the Munich Stock Exchange. Schmidt lists the advantages stemming from being based in Munich and in Bavaria. "Munich has a large-sized and innovative fintech and start-up scene. It is home to several companies forming part of Germany's DAX index of Major stocks. Munich's corporations have a market capitalization greater than that of any other city in Germany. Making doing business easy and pleasant in Munich is its smoothly-functioning infrastructure. It includes Munich Airport, which is one of the world's leading hubs. Munich also features excellent universities and schools - and a world-class cultural scene. The city is embedded in a countryside that is famed around the world for its beauty and four seasons-appeal," Schmidt concludes.

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Munich Financial Centre Initiative Position Paper on the occasion of the visit to Brussels on October 14th/ 15th, 2015

Table of contents

1. The EU´s capital markets union and how it would impact upon SMEs
2. Basel III follow-up regulations
3. Reform of bank structures - banks segregated by activities
4. Deposit security in Europe
5. Ramifications of digitalization

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Financing the Real Economy in the Capital Markets Union Era - Recommendations for Policy Action

Report commissioned by the Munich Financial Center Initiative (FPMI)

This report deals with the significance of the Capital Markets Union (CMU) for corporate finance. It begins by evaluating the status quo with regard to capital market-oriented and bank-based corporate finance in Germany. The subject matter and background of the CMU are then illuminated and the CMU is subjected to a qualitative analysis. The last section of the assessment features recommendations for action derived from the analysis.

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fpmi rejects Commission's proposal for an EU savings account

Munich Financial Center Initiative (known by its German acronym of “fpmi”) regards the introduction of an EU savings account as being not conducive to the assurance of the long-term financing of the European economy. Such an account would feature a rate of interest on savings guaranteed by the EU. It would constitute a distortion of competition, and would also cause a transferring of funds to these accounts. This, in turn, would further constrain the ability of private, savings and cooperative banks to provide credit.

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fpmi: alterations needed in planned directive on deposit insurance

It was three years ago that the EC Commission made its initial proposal on the revamping of the deposit insurance directive. This work has been resumed in Brussels. The directive is to formulate specifications for the national-level systems charged with the protection of the deposits consigned by savers to banks in cases of the latter's insolvency. In-depth differences persist among the EU Parliament, EU Commission and Council.

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fpmi inside: “more than guardedly optimistic”

The eleventh “fpmi inside” was held on the premises of the Munich Stock Exchange. At the event, Jürgen Michels, the chief economist at BayernLB, took a look at what’s coming in 2014. As a believer in straight talk, he reported being more than “guardedly optimistic”.  He isn’t, however, closing his eyes to possible perils.

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