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title="toggle subpages for Elfogadható forgalomképes eszközök jegyzéke"></a><ul><li class="clearfix"><a href="/mopo/coll/assets/guide/html/index.hu.html">Használati útmutató</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/coll/html/index.hu.html">Fedezetmobilizálás</a><a href="#" class="subpages" title="toggle subpages for Fedezetmobilizálás"></a><ul><li class="clearfix"><a href="/mopo/coll/coll/ccbm/html/index.hu.html">CCBM</a></li><li class="clearfix"><a href="/mopo/coll/coll/eligiblesss/html/index.hu.html">Elfogadható éer (SSS)</a></li><li class="clearfix"><a href="/mopo/coll/coll/ssslinks/html/index.hu.html">Elfogadott kapcsolatok</a></li><li class="clearfix"><a href="/mopo/coll/coll/triparty/html/index.hu.html">Elfogadható háromszereplős közvetítők</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/risk/html/index.hu.html">Kockázatcsökkentés</a><a href="#" class="subpages" title="toggle subpages for Kockázatcsökkentés"></a><ul><li class="clearfix"><a href="/mopo/coll/risk/ecaf/html/index.hu.html">ECAF</a></li><li class="clearfix"><a href="/mopo/coll/risk/riskcontrol/html/index.hu.html">Kockázat-ellenőrzés</a></li><li class="clearfix"><a href="/mopo/coll/risk/liquidity/html/index.hu.html">Haircut-kategóriák</a></li><li class="clearfix"><a href="/mopo/coll/risk/valuation/html/index.hu.html">Értékelés</a></li></ul></li><li class="has-subpages"><a href="/mopo/coll/loanlevel/html/index.hu.html">Hitelszintű kezdeményezés</a><a href="#" class="subpages" title="toggle subpages for Hitelszintű kezdeményezés"></a><ul><li class="clearfix"><a href="/mopo/coll/loanlevel/transmission/html/index.hu.html">Adattáblák</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/implementation/html/index.hu.html">Elfogadhatósági követelmények</a></li><li class="clearfix"><a href="/mopo/coll/loanlevel/faq/html/index.hu.html">Gyakori kérdések</a></li></ul></li><li class="clearfix"><a href="/mopo/coll/contacts/html/index.hu.html">Elérhetőségek</a></li></ul></li><li class="has-subpages"><a href="/mopo/eaec/html/index.hu.html">Az euroövezeti gazdaság szerkezete</a><a href="#" class="subpages" title="toggle subpages for Az euroövezeti gazdaság szerkezete"></a><ul><li class="clearfix"><a href="/mopo/eaec/ecopolicy/html/index.hu.html">Gazdaságpolitika</a></li><li class="clearfix"><a href="/mopo/eaec/fiscal/html/index.hu.html">Fiskális politikák</a></li><li class="clearfix"><a href="/mopo/eaec/trade/html/index.hu.html">Külkereskedelem</a></li><li class="clearfix"><a href="/mopo/eaec/eer/html/index.hu.html">Effektív árfolyamok</a></li><li class="clearfix"><a href="/mopo/eaec/structure/html/index.hu.html">Pénzügyi struktúra</a></li><li class="clearfix"><a href="/mopo/eaec/markets/html/index.hu.html">Pénzügyi piacok</a></li><li class="clearfix"><a href="/mopo/eaec/intermediaries/html/index.hu.html">Pénzügyi közvetítők</a></li><li class="clearfix"><a href="/mopo/eaec/diversity/html/index.hu.html">Gazdasági sokféleség</a></li><li class="clearfix"><a href="/mopo/eaec/labour/html/index.hu.html">Munkaerőpiac</a></li></ul></li><li class="has-subpages -section"><a href="/mopo/market-contact-groups/html/index.hu.html">Piaci kapcsolattartó csoportok</a><a href="#" class="subpages" title="toggle subpages for Piaci kapcsolattartó csoportok"></a><ul><li class="clearfix -current"><a href="/mopo/market-contact-groups/bmcg/html/index.hu.html">Kötvénypiac (BMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/mmcg/html/index.hu.html">Pénzpiac (MMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/dimcg/html/index.hu.html">Adósságpapír-kibocsátási piaci kapcsolattartó csoport (DIMCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/omg/html/index.hu.html">EKB műveleti menedzserek csoportja (EKB OMG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/fxcg/html/index.hu.html">Deviza (FXCG)</a></li><li class="clearfix"><a href="/mopo/market-contact-groups/iid/html/index.hu.html">Intézményi Befektetők Párbeszéde (IID)</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/paym/html/index.hu.html">Fizetésforgalom, pénzügyi stabilitás</a><a href="#" class="subpages" title="toggle subpages for Fizetésforgalom, pénzügyi stabilitás"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Fizetésforgalom, pénzügyi stabilitás</div> <p>Betekintés a pénzügyi stabilitással és fizetési infrastruktúrával kapcsolatos munkánkba</p><a href="/paym/html/index.en.html">A fizetésforgalom és a pénzügyi stabilitás áttekintése</a><hr> <div class="nav-title">Gyorshivatkozások</div> <ul> <li><a href="/euro/digital_euro/html/index.en.html">A digitális euro</a></li> <li><a href="/press/intro/html/index.en.html">Fizetésforgalmi hírek</a></li> <li><a href="/paym/target/target-professional-use-documents-links/html/index.en.html">TARGET-tel kapcsolatos szakmai használatra szánt dokumentumok és hivatkozások</a></li> </ul> </div><a href="/pub/financial-stability/fsr/html/index.en.html" class="item image"> <img src="/paym/financial-stability/html/index/fsr_1000x750.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">A Pénzügyi stabilitási jelentés legfrissebb száma</div> <div class="image-date">2024. május 16.</div></a></div></div><ul><li class="clearfix"><span>Fizetésforgalom</span></li><li class="has-subpages"><a href="/paym/target/html/index.hu.html">TARGET-szolgáltatások</a><a href="#" class="subpages" title="toggle subpages for TARGET-szolgáltatások"></a><ul><li class="clearfix"><a href="/paym/target/coco/html/index.hu.html">Közös jellemzők</a></li><li class="has-subpages"><a href="/paym/target/t2/html/index.hu.html">T2</a><a href="#" class="subpages" title="toggle subpages for T2"></a><ul><li class="clearfix"><a href="/paym/target/t2/facts/html/index.hu.html">Facts and figures</a></li><li class="clearfix"><a href="/paym/target/t2/governance/html/index.hu.html">Irányítás</a></li></ul></li><li class="has-subpages"><a href="/paym/target/t2s/html/index.hu.html">T2S</a><a href="#" class="subpages" title="toggle subpages for T2S"></a><ul><li class="clearfix"><a href="/paym/target/t2s/governance/html/index.hu.html">Irányítás</a></li><li class="clearfix"><a href="/paym/target/t2s/facts/html/index.hu.html">Tény- és számadatok</a></li><li class="clearfix"><a href="/paym/target/t2s/pricing/html/index.hu.html">Árazás</a></li></ul></li><li class="has-subpages"><a href="/paym/target/tips/html/index.hu.html">TIPS</a><a href="#" class="subpages" title="toggle subpages for TIPS"></a><ul><li class="clearfix"><a href="/paym/target/tips/governance/html/index.hu.html">Irányítás</a></li><li class="clearfix"><a href="/paym/target/tips/facts/html/index.hu.html">Tény- és számadatok</a></li><li class="clearfix"><a href="/paym/target/tips/onboarding/html/index.hu.html">Beléptetés</a></li></ul></li><li class="clearfix"><a href="/paym/target/ecms/html/index.hu.html">ECMS</a></li><li class="has-subpages"><a href="/paym/target/target-professional-use-documents-links/html/index.hu.html">TARGET szakmai használatra szánt dokumentumok, hivatkozások</a><a href="#" class="subpages" title="toggle subpages for TARGET szakmai használatra szánt dokumentumok, hivatkozások"></a><ul><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/coco/html/index.hu.html">Szakmai felhasználáshoz</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2/html/index.hu.html">T2 dokumentumok, hivatkozások</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/t2s/html/index.hu.html">T2 dokumentumok, hivatkozások</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/tips/html/index.hu.html">TIPS dokumentumok, hivatkozások</a></li><li class="clearfix"><a href="/paym/target/target-professional-use-documents-links/ecms/html/index.hu.html">ECMS dokumentumok, hivatkozások</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/integration/html/index.hu.html">Integráció és innováció</a><a href="#" class="subpages" title="toggle subpages for Integráció és innováció"></a><ul><li class="has-subpages"><a href="/paym/integration/distributed/html/index.hu.html">Megosztott főkönyvi technológiák</a><a href="#" class="subpages" title="toggle subpages for Megosztott főkönyvi technológiák"></a><ul><li class="clearfix"><a href="/paym/integration/distributed/exploratory/html/index.hu.html">Feltáró munka</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/retail/html/index.hu.html">Kis összegű fizetésforgalom</a><a href="#" class="subpages" title="toggle subpages for Kis összegű fizetésforgalom"></a><ul><li class="clearfix"><a href="/paym/integration/retail/retail_payments_strategy/html/index.hu.html">Kis összegű fizetésforgalmi stratégia</a></li><li class="clearfix"><a href="/paym/integration/retail/ecb/html/index.hu.html">Az EKB mint katalizátor</a></li><li class="clearfix"><a href="/paym/integration/retail/sepa/html/index.hu.html">SEPA</a></li><li class="clearfix"><a href="/paym/integration/retail/instant_payments/html/index.hu.html">Azonnali fizetésforgalom</a></li></ul></li><li class="has-subpages"><a href="/paym/integration/collateral/html/index.hu.html">Fedezetkezelés harmonizálása</a><a href="#" class="subpages" title="toggle subpages for Fedezetkezelés harmonizálása"></a><ul><li class="clearfix"><a href="/paym/integration/collateral/implementation/html/index.hu.html">Megvalósítás</a></li><li class="clearfix"><a href="/paym/integration/collateral/faq/html/index.hu.html">GYIK</a></li></ul></li></ul></li><li class="has-subpages"><a href="/paym/cyber-resilience/html/index.hu.html">Kiberreziliencia</a><a href="#" class="subpages" title="toggle subpages for Kiberreziliencia"></a><ul><li class="clearfix"><a href="/paym/cyber-resilience/fmi/html/index.hu.html">Pénzügyi piaci infrastruktúrák</a></li><li class="clearfix"><a href="/paym/cyber-resilience/tiber-eu/html/index.hu.html">TIBER-EU</a></li></ul></li><li class="has-subpages"><a href="/paym/pol/html/index.hu.html">Felvigyázás</a><a href="#" class="subpages" title="toggle subpages for Felvigyázás"></a><ul><li class="clearfix"><a href="/paym/pol/systems/html/index.hu.html">Fizetési rendszerek</a></li><li class="clearfix"><a href="/paym/pol/target2-securities/html/index.hu.html">TARGET2-értékpapír</a></li><li class="clearfix"><a href="/paym/pol/instr/html/index.hu.html">Elektronikus fizetésforgalom</a></li><li class="clearfix"><a href="/paym/pol/clearing/html/index.hu.html">Értékpapír-elszámolási rendszerek, központi szerződő felek</a></li><li class="clearfix"><a href="/paym/pol/critical/html/index.hu.html">Kritikus fontosságú szolgáltatók</a></li><li class="clearfix"><a href="/paym/pol/correspondent-and-custodian-banks/html/index.hu.html">Levelező és letétkezelő bankok</a></li><li class="clearfix"><a href="/paym/pol/forum/html/index.hu.html">SecuRe fizetési fórum</a></li></ul></li><li class="has-subpages"><a href="/paym/erms/html/index.hu.html">Tartalékkezelési szolgáltatások</a><a href="#" class="subpages" title="toggle subpages for Tartalékkezelési szolgáltatások"></a><ul><li class="clearfix"><a href="/paym/erms/aspects/html/index.hu.html">Főbb vetületek</a></li><li class="clearfix"><a href="/paym/erms/service/html/index.hu.html">Szolgáltatási kör</a></li></ul></li><li class="has-subpages"><a href="/paym/cashprof/html/index.hu.html">Pénzkezelők</a><a href="#" class="subpages" title="toggle subpages for Pénzkezelők"></a><ul><li class="has-subpages"><a href="/paym/cashprof/cashhand/html/index.hu.html">Készpénzkezelés</a><a href="#" class="subpages" title="toggle subpages for Készpénzkezelés"></a><ul><li class="clearfix"><a href="/paym/cashprof/cashhand/devices/html/index.hu.html">Valódiságvizsgáló eszközök</a></li><li class="clearfix"><a href="/paym/cashprof/cashhand/recycling/html/index.hu.html">Bankjegy-visszaforgatás</a></li></ul></li><li class="clearfix"><a href="/paym/cashprof/cdispec/html/index.hu.html">Műszaki előírások (közös érzékelő interfész, CDI)</a></li><li class="clearfix"><a href="/paym/cashprof/accreditation/html/index.hu.html">Bankjegygyártók akkreditációja</a></li></ul></li><li class="has-subpages"><a href="/paym/groups/html/index.hu.html">Piaci kapcsolattartó csoportok</a><a href="#" class="subpages" title="toggle subpages for Piaci kapcsolattartó csoportok"></a><ul><li class="clearfix"><a href="/paym/groups/ami/html/index.hu.html">Piaci infrastruktúrával foglalkozó tanácsadó csoportok</a></li><li class="clearfix"><a href="/paym/groups/euro-cyber-board/html/index.hu.html">Euro Kiberreziliencia Testület</a></li><li class="clearfix"><a href="/paym/groups/erpb/html/index.hu.html">Kis összegű Euro Fizetési Tanács (ERPB)</a></li><li class="clearfix"><a href="/paym/groups/efip/html/index.hu.html">Európai Fizetési Innovációs Fórum (EFIP)</a></li></ul></li><li class="clearfix"><span>Pénzügyi stabilitás</span></li><li class="clearfix"><a href="/paym/financial-stability/html/index.hu.html">Bevezetés a pénzügyi stabilitásba</a></li><li class="clearfix"><a href="/paym/macroprudential-measures/html/index.hu.html">Makroprudenciális intézkedések</a></li><li class="clearfix"><a href="/paym/financial_stability_contact_groups/html/index.hu.html">Pénzügyi stabilitási kapcsolattartó csoportok</a></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/stats/html/index.hu.html">Statisztika</a><a href="#" class="subpages" title="toggle subpages for Statisztika"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title"></div> <p></p><a href="/stats/html/index.en.html"></a><hr> <div class="nav-title"></div> <ul> <li><a href="https://data.ecb.europa.eu/main-figures"></a></li> <li><a href="https://data.ecb.europa.eu/"></a></li> <li><a href="/stats/ecb_statistics/accessing-our-data/html/index.en.html"></a></li> </ul> </div><a href="/press/blog/date/2024/html/ecb.blog20240418~2240ea1850.en.html" class="item image"> <img src="/press/blog/date/2024/html//ecb.blog20240418~2240ea1850/ecb.blog20240418~2240ea1850.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">AZ EKB BLOGJA – Jobb minőségű adatok: hogyan érinti az éghajlatváltozás a bankokat?</div> <div class="image-date">2024. április 18.</div></a></div></div><ul><li class="clearfix"><span>Gyakran látogatott lapok</span></li><li class="clearfix"><a href="/stats/euro-exchange-rates/html/index.hu.html">Euro-árfolyamok</a></li><li class="clearfix"><a href="/stats/key-ecb-interest-rates/html/index.hu.html">Az EKB irányadó kamatlábai</a></li><li class="has-subpages"><a href="/stats/euro-short-term-rates/html/index.hu.html">Rövid lejáratú eurokamatok (€STR)</a><a href="#" class="subpages" title="toggle subpages for Rövid lejáratú eurokamatok (€STR)"></a><ul><li class="has-subpages"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/html/index.hu.html">Referenciakamatok</a><a href="#" class="subpages" title="toggle subpages for Referenciakamatok"></a><ul><li class="clearfix"><a href="/stats/euro-short-term-rates/interest_rate_benchmarks/WG_euro_risk-free_rates/html/index.hu.html">Kockázatmentes eurokamatokkal foglalkozó munkacsoport</a></li></ul></li></ul></li><li class="clearfix"><a href="/stats/inflation/html/index.hu.html">Infláció</a></li><li class="clearfix"><a href="/stats/euro-area-yield-curves/html/index.hu.html">Euroövezeti hozamgörbék</a></li><li class="clearfix"><span>Az összes statisztika és háttérinformációk</span></li><li class="clearfix"><a href="/stats/all-key-statistics/html/index.hu.html">Az összes főbb statisztika</a></li><li class="clearfix"><a href="/stats/accessing-our-data/html/index.hu.html">Az összes adatszolgáltatás</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/html/index.hu.html">Adatszolgáltatás és -standardok</a><a href="#" class="subpages" title="toggle subpages for Adatszolgáltatás és -standardok"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/governance_and_quality_framework/html/index.hu.html">Szervezetirányítás, minősítési keret</a></li><li class="clearfix"><a href="/stats/ecb_statistics/co-operation_and_standards/html/index.hu.html">Együttműködés, standardok</a></li><li class="clearfix"><a href="/stats/ecb_statistics/reporting/html/index.hu.html">Banki adatszolgáltatás</a></li><li class="has-subpages"><a href="/stats/ecb_statistics/anacredit/html/index.hu.html">AnaCredit</a><a href="#" class="subpages" title="toggle subpages for AnaCredit"></a><ul><li class="clearfix"><a href="/stats/ecb_statistics/anacredit/questions/html/index.hu.html">AnaCredit kérdések és válaszok</a></li></ul></li><li class="clearfix"><a href="/stats/ecb_statistics/consultations/html/index.hu.html">Nyilvános konzultációk</a></li><li class="clearfix"><a href="/stats/ecb_statistics/dialogue/html/index.hu.html">Banki üzletági párbeszéd a KBER-statisztikákról és integrált adatszolgáltatásról</a></li><li class="clearfix"><a href="/stats/ecb_statistics/sdmx/html/index.hu.html">SDMX – statisztikai adatcseremodell</a></li><li class="clearfix"><a href="/stats/ecb_statistics/inexda/html/index.hu.html">INEXDA: granuláris adathálózat</a></li></ul></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/euro/html/index.hu.html">Az euro</a><a href="#" class="subpages" title="toggle subpages for Az euro"></a><div class="nav-first-level-wrap"><div class="nav-featured-wrap"><div class="nav-featured"><div class="item"> <div class="title">Az euro</div> <p>Tudnivalók a közös valutánkról</p><a href="/euro/html/index.en.html">Az euro áttekintése</a><hr> <div class="nav-title">Gyorshivatkozások</div> <ul> <li><a href="/paym/cashprof/html/index.en.html">Készpénzkezelők</a></li> <li><a href="/stats/policy_and_exchange_rates/banknotes+coins/html/index.en.html">Bankjegy- és érmestatisztika</a></li> <li><a href="/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html">Euroárfolyamok</a></li> </ul> </div><a href="/euro/digital_euro/progress/html/index.en.html" class="item image"> <img src="/euro/digital_euro/shared/img/Digital Euro_Website_Homepage-Box-eurosign_1000x750.jpg" width="357" height="179" loading="lazy" style="object-fit:cover"><div class="image-caption">Első helyzetjelentés a digitális euro projekt előkészítő szakaszáról</div> <div class="image-date">2024. június 24.</div></a></div></div><ul><li class="has-subpages"><a href="/euro/digital_euro/html/index.hu.html">A 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href="/euro/banknotes/research/html/index.hu.html">Kutatás-fejlesztés</a></li><li class="clearfix"><a href="/euro/banknotes/images/html/index.hu.html">Képek és utánzatkészítési szabályok</a></li><li class="clearfix"><a href="/euro/banknotes/info/html/index.hu.html">Információk és oktatóanyagok</a></li></ul></li><li class="has-subpages"><a href="/euro/coins/html/index.hu.html">Érmék</a><a href="#" class="subpages" title="toggle subpages for Érmék"></a><ul><li class="clearfix"><a href="/euro/coins/2euro/html/index.hu.html">2 €</a></li><li class="clearfix"><a href="/euro/coins/1euro/html/index.hu.html">1 €</a></li><li class="clearfix"><a href="/euro/coins/50cents/html/index.hu.html">50 centes</a></li><li class="clearfix"><a href="/euro/coins/20cents/html/index.hu.html">20 centes</a></li><li class="clearfix"><a href="/euro/coins/10cents/html/index.hu.html">10 centes</a></li><li class="clearfix"><a href="/euro/coins/5cents/html/index.hu.html">5 centes</a></li><li class="clearfix"><a href="/euro/coins/2cents/html/index.hu.html">2 centes</a></li><li class="clearfix"><a href="/euro/coins/1cent/html/index.hu.html">1 centes</a></li><li class="clearfix"><a href="/euro/coins/common/html/index.hu.html">Közös hátlap</a></li><li class="clearfix"><a href="/euro/coins/comm/html/index.hu.html">2 eurós emlékérme</a></li><li class="clearfix"><a href="/euro/coins/security/html/index.hu.html">Biztonsági elemek</a></li><li class="clearfix"><a href="/euro/coins/collect/html/index.hu.html">Érmék gyűjtőknek</a></li></ul></li><li class="has-subpages"><a href="/euro/changeover/html/index.hu.html">Belépés az euroövezetbe</a><a href="#" class="subpages" title="toggle subpages for Belépés az euroövezetbe"></a><ul><li class="clearfix"><a href="/euro/changeover/croatia/html/index.hu.html">Horvátország (2023)</a></li><li class="clearfix"><a href="/euro/changeover/lithuania/html/index.hu.html">Litvánia (2015)</a></li><li class="clearfix"><a href="/euro/changeover/latvia/html/index.hu.html">Lettország (2014)</a></li><li class="clearfix"><a href="/euro/changeover/estonia/html/index.hu.html">Észtország (2011)</a></li><li class="clearfix"><a href="/euro/changeover/slovakia/html/index.hu.html">Szlovákia (2009)</a></li><li class="clearfix"><a href="/euro/changeover/cyprus/html/index.hu.html">Ciprus (2008)</a></li><li class="clearfix"><a href="/euro/changeover/malta/html/index.hu.html">Málta (2008)</a></li><li class="clearfix"><a href="/euro/changeover/slovenia/html/index.hu.html">Szlovénia (2007)</a></li><li class="clearfix"><a href="/euro/changeover/2002/html/index.hu.html">Az első készpénzcsere (2002)</a></li></ul></li><li class="has-subpages"><a href="/euro/exchange/html/index.hu.html">Nemzeti pénzcsere</a><a href="#" class="subpages" title="toggle subpages for Nemzeti pénzcsere"></a><ul><li class="clearfix"><a href="/euro/exchange/au/html/index.hu.html">Ausztria</a></li><li class="clearfix"><a href="/euro/exchange/be/html/index.hu.html">Belgium</a></li><li class="clearfix"><a href="/euro/exchange/hr/html/index.hu.html">Horvátország</a></li><li class="clearfix"><a href="/euro/exchange/cy/html/index.hu.html">Ciprus</a></li><li class="clearfix"><a href="/euro/exchange/et/html/index.hu.html">Észtország</a></li><li class="clearfix"><a href="/euro/exchange/fi/html/index.hu.html">Finnország</a></li><li class="clearfix"><a href="/euro/exchange/fr/html/index.hu.html">Franciaország</a></li><li class="clearfix"><a href="/euro/exchange/de/html/index.hu.html">Németország</a></li><li class="clearfix"><a href="/euro/exchange/gr/html/index.hu.html">Görögország</a></li><li class="clearfix"><a href="/euro/exchange/ir/html/index.hu.html">Írország</a></li><li class="clearfix"><a href="/euro/exchange/it/html/index.hu.html">Olaszország</a></li><li class="clearfix"><a href="/euro/exchange/lv/html/index.hu.html">Lettország</a></li><li class="clearfix"><a href="/euro/exchange/lt/html/index.hu.html">Litvánia</a></li><li class="clearfix"><a href="/euro/exchange/lu/html/index.hu.html">Luxemburg</a></li><li class="clearfix"><a href="/euro/exchange/mt/html/index.hu.html">Málta</a></li><li class="clearfix"><a href="/euro/exchange/nl/html/index.hu.html">Hollandia</a></li><li class="clearfix"><a href="/euro/exchange/pt/html/index.hu.html">Portugália</a></li><li class="clearfix"><a href="/euro/exchange/slovakia/html/index.hu.html">Szlovákia</a></li><li class="clearfix"><a href="/euro/exchange/sl/html/index.hu.html">Szlovénia</a></li><li class="clearfix"><a href="/euro/exchange/es/html/index.hu.html">Spanyolország</a></li></ul></li><li class="clearfix"><a href="/euro/visually/html/index.hu.html">Látássérülteknek</a></li></ul></div></li><li class="has-subpages" aria-expanded="false"><a href="/pub/html/index.hu.html">Kutatás</a><a href="#" class="subpages" title="toggle subpages for Kutatás"></a><div class="nav-first-level-wrap"><div 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location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''),'_blank','width=600,height=400,menubar=no')" title="Share on LinkedIn"></a></li> <li class="-email"><a href="javascript:window.open('mailto:?subject=I would like to share this link with you&body=Link to the website of the European Central Bank: '+location.protocol + '//' + location.host + location.pathname+((document.location.search.search(/\?youtubeID=[a-zA-Z0-9_-]+$/)!=-1&&document.location.search)||''))" title="Share by Email"></a></li> </ul> </div> </aside> <main > <div class="toBeUpdated" id="language-not-available">Magyar nyelven nem elérhető</div> <div class="title"> <h1>Bond market contact group (BMCG)</h1> </div> <div class="section"> <p> The BMCG serves as a forum for discussing issues related to the euro area bond market. This includes short-term market developments as well as structural and regulatory trends and the functioning of the euro area bond market in general. </p> <ul class="-link-icons"> <li><a href="/paym/groups/pdf/bmcg/BMCG_Terms_of_reference.pdf">BMCG terms of reference</a></li> <li><a href="/paym/groups/pdf/bmcg/2024_BMCG_work_programme.en.pdf" data-label="angol">Work programme for 2024</a><br></li> </ul> <h2>Members and composition</h2> <p> The chair is the Director General Market Operations of the ECB.</p> <p> The composition of the group is reviewed at the end of the calendar year. Institutions are welcome to express their interest in joining the BMCG by submitting an <a href="/paym/groups/pdf/bmcg/ECB_Contact_Group_Application form_BMCG.pdf">application form</a> and relevant documentation at the latest by end October. To further enhance the diversity of our contact group, we particularly encourage institutions to nominate female representatives. </p> <a href="/paym/groups/pdf/bmcg/BMCG_Members_2024.pdf">Members in 2024</a> <h2>Observers</h2> <p> Representatives from the euro area national central banks, which have the status of observer, may follow the discussions in the group. </p> <h2>Other market contact groups </h2> <p></p><ul><li><a href="/mopo/market-contact-groups/mmcg/html/index.en.html" data-label="angol">Money market contact group (MMCG)</a></li><li><a href="/mopo/market-contact-groups/fxcg/html/index.en.html" data-label="angol">Foreign Exchange Contact Group (FXCG)</a></li></ul><p></p> </div> <div class="accordion"> <div class="header"> <div class="title">2024</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>21 November</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/241121/20241121_BMCG_Agenda.pdf">Agenda</a></p> </dd> <dt>19 September</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/240919/20240919_BMCG_Agenda.pdf">Agenda</a><br><a href="/paym/groups/pdf/bmcg//240919/20240919_BMCG_Summary.pdf">Summary</a><br><a href="/paym/groups/pdf/bmcg//240919/20240919_BMCG_List_of_participants.pdf">List of participants</a></p><hr><p><a href="/paym/groups/pdf/bmcg/240919/Item_1_Market_Outlook.pdf">Item 1 - Market outlook - Generali asset Management</a><br><a href="/paym/groups/pdf/bmcg/240919/Item_2A_Artificial_Intelligence.pdf">Item 2A - Artificial Intelligence - AXA </a><br><a href="/paym/groups/pdf/bmcg/240919/Item_2B_Artificial_Intelligence.pdf">Item 2B - Artificial Intelligence - ECB </a><br><a href="/paym/groups/pdf/bmcg/240919/Item_3_ETFs.pdf">Item 3 - ETFs - Union Investment</a><br></p> </dd> <dt>26 June</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/240626/2024-06-26_BMCG_Agenda.pdf">Agenda</a><br><a href="/paym/groups/pdf/bmcg/240626/2024-06-26_BMCG_Summary.pdf">Summary</a><br><a href="/paym/groups/pdf/bmcg/240626/2024-06-26_BMCG_List_of_participants.pdf">List of participants</a></p><hr><p><a href="/paym/groups/pdf/bmcg/240626/Item_1_Market_Outlook_EIB.pdf">Item 1 - Market outlook - EIB</a><br><a href="/paym/groups/pdf/bmcg/240626/Item_2_Hedge_Funds_in_EGB_market_HSBC.pdf">Item 2 - Hedge Funds in EGB market - HSBC</a><br><a href="/paym/groups/pdf/bmcg/240626/Annex_Item_2_ BMCG_HF_survey_results.pdf">Annex - Item 2 - BMCG Hedge Fund survey results</a></p> </dd> <dt>12 March</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/240312/2024_03_12_BMCG_Agenda.pdf">Agenda</a><br><a href="/paym/groups/pdf/bmcg/240312/2024-03-12-BMCG-Summary.en.pdf" data-label="angol">Summary</a><br><a href="/paym/groups/pdf/bmcg/240312/2024-03-12-BMCG-List_of_participants.en.pdf" data-label="angol">List of participants</a></p><hr><p><a href="/paym/groups/pdf/bmcg/240312/Item_1A_Market_Outlook_Citi.en.pdf" data-label="angol">Item 1A - Market outlook - Citi</a><br><a href="/paym/groups/pdf/bmcg/240312/Item_1B_CRE_Market_Update_GIC.en.pdf" data-label="angol">Item 1B - CRE market update - GIC</a><br><a href="/paym/groups/pdf/bmcg/240312/Item_2_Primary_Market_Absorption_ESM.en.pdf" data-label="angol">Item 2 - Primary market absorption - ESM</a><br><a href="/paym/groups/pdf/bmcg/240312/Item_3_Private_Debt_Market_Muzinich.en.pdf" data-label="angol">Item 3 - Private debt market - Muzinich</a><br></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2023</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>28 November</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/231128/2023-11-28_BMCG_Agenda.en.pdf" data-label="angol">Agenda</a><br><a href="/paym/groups/pdf/bmcg/231128/2023_11_28_BMCG_Summary_of_the_discussion.pdf">Summary</a><br><a href="/paym/groups/pdf/bmcg/231128/2023_11_28_BMCG_List_of_participants.pdf">List of participants</a></p><hr><p><a href="/paym/groups/pdf/bmcg/231128/Item_1_Market_Outlook.pdf">Item 1 - Market Outlook - Nomura</a><br><a href="/paym/groups/pdf/bmcg/231128/Item_2_Market_Absorption.pdf">Item 2 - Market Absorption - BNP</a><br><a href="/paym/groups/pdf/bmcg/231128/Item_3_Trends_in_the_SSA_market.pdf">Item 3 - Trends in the SSA market - Blackrock</a><br></p> </dd> <dt>19 September</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/230919/2023_09_19_BMCG_Agenda.en.pdf" data-label="angol">Agenda</a><br><a href="/paym/groups/pdf/bmcg/230919/2023_09_19_BMCG_Summary.pdf">Summary</a><br><a href="/paym/groups/pdf/bmcg/230919/2023_09_19_BMCG_List_of_participants.pdf">List of participants</a></p><hr><a href="/paym/groups/pdf/bmcg/230919/Item_1_Outlook.pdf">Item 1 - Market Outlook - AXA</a><p><a href="/paym/groups/pdf/bmcg/230919/Item_2_Monetary_Policy_and_QT.pdf">Item 2 - Monetary policy normalisation and quantitative tightening around the globe - T.Rowe Price</a><br><a href="/paym/groups/pdf/bmcg/230919/Item_3_Inflation_market_dynamics_.pdf">Item 3 - Deep dive into inflation linked products - HSBC</a><br></p> </dd> <dt>1 June</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/230601/2023_06_01_BMCG_Agenda.en.pdf" data-label="angol">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/230601/2023-06-01_BMCG_Draft_summary_of_discussion.en.pdf" data-label="angol">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/230601/2023-06-01_BMCG_List_of_participants.en.pdf" data-label="angol">List of participants</a><br></p><hr><a class="pdf" href="/paym/groups/pdf/bmcg/230601/Item_1_Bond_Market_Outlook_PGIM_Fixed_Income.en.pdf" data-label="angol">Item 1 - Market Outlook - PGIM</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/230601/Item_2_Market_Vulnerabilities_Amundi.en.pdf" data-label="angol">Item 2 - Market Vulnerabilities - Amundi</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/230601/Item_3_Bank_Funding_ICMA.en.pdf" data-label="angol">Item 3 Bank Funding - ICMA</a><br><p></p> </dd> <dt>18 April</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/230418/20230418_BMCG_summary.en.pdf" data-label="angol">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/230418/20230418_BMCG_List_of_participants.en.pdf" data-label="angol">List of participants</a></p><hr><br><a class="pdf" href="/paym/groups/pdf/bmcg/230418/20230418_Bond_Market_Developments_BofA.en.pdf" data-label="angol">Market Update</a><br><p></p> </dd> <dt>14 February</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/230214/2023_02_14_BMCG_Agenda.en.pdf" data-label="angol">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/230214/2023_02_14_BMCG_Summary_of_the_discussion.en.pdf" data-label="angol">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/230214/2023_02_14_BMCG_List_of_participants.en.pdf" data-label="angol">List of participants</a></p><hr><br><a class="pdf" href="/paym/groups/pdf/bmcg/230214/Item1_Outlook_ESM.en.pdf" data-label="angol">Item 1 - Market Outlook - ESM</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/230214/Item2_Monpol_normalisation_Commerzbank.en.pdf" data-label="angol">Item 2 - Monetary Policy Normalisation - Commerzbank</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/230214/Item3_Update_on_algo_trading_Citigroup.en.pdf" data-label="angol">Item 3 - Update on algo trading - Citigroup</a><br><p></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2022</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>10 November</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/221110/2022_11_10_BMCG_Agenda.en.pdf" data-label="angol">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/221110/2022-10-11_BMCG_Summary_of_the_discussion.en.pdf" data-label="angol">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/221110/2022_11_10_BMCG_List_of_participants.en.pdf" data-label="angol">List of participants</a></p><hr><br><a class="pdf" href="/paym/groups/pdf/bmcg/221110/Item1_Outlook_BNP.en.pdf" data-label="angol">Item 1 - ECB Market Outlook - BNP</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/221110/Item2_Monpol_Normalisation_JPM.en.pdf" data-label="angol">Item 2 - Monetary Policy Normalisation - J.P. Morgan</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/221110/Item3_ICMA_ESG.en.pdf" data-label="angol">Item 3 - ESG Developments - ICMA</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/221110/Item4_MIFIR_AFME.en.pdf" data-label="angol">Item 4 - MiFIR Review - AFME</a><br><p></p> </dd> <dt>29 September</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/220929/2022_09_29_BMCG_Summary_of_the_discussion.en.pdf" data-label="angol">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220929/2022_09_29_BMCG_List_of_participants.en.pdf" data-label="angol">List of participants</a></p> </dd> <dt>13 September</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/220913/2022_09_13_BMCG_Agenda.en.pdf" data-label="angol">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220913/2022-09-13_BMCG_Summary_of_the_discussion.en.pdf" data-label="angol">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220913/2022_09_13_BMCG_List_of_participants.en.pdf" data-label="angol">List of participants</a></p><hr><a class="pdf" href="/paym/groups/pdf/bmcg/220913/2022_09_13_DFA_Repo_activities.en.pdf" data-label="angol">Item 1 - Repo activities of the German Finance Agency</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220913/2022_09_13_MS_Market_Review.en.pdf" data-label="angol">Item 2 - Market Review - Morgan Stanley</a><p></p> </dd> <dt>23 June</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/220623/2022_06_23_BMCG_Agenda.en.pdf" data-label="angol">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220623/2022_06_23_BMCG_Summary_of_the_discussion.en.pdf" data-label="angol">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220623/2022_06_23_BMCG_List_of_participants.en.pdf" data-label="angol">List of participants</a></p><hr><a class="pdf" href="/paym/groups/pdf/bmcg/220623/2022_06_23_BMCG_Item_1_Market_Outlook_Nomura.en.pdf" data-label="angol">Item 1 - Market Review - Nomura</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220623/2022-06-23_BMCG_Item_2A_Primary_market_dynamics_Public_Sector_EU_Commission.en.pdf" data-label="angol">Item 2 (a) - Primary Markets - European Commission</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220623/2022-06-23_BMCG_Item_2B_Primary_market_dynamics_Non-Public_Sector_Muzinich.en.pdf" data-label="angol">Item 2 (b) - Market Review - Muzinich</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220623/2022-06-23_BMCG_Item_3_Impact_of_MonPol_Normalisation_AXA.en.pdf" data-label="angol">Item 3 - Monetary Policy Normalisation - AXA</a><p></p> </dd> <dt>17 March</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/220317/2022_03_17_BMCG_Agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220317/20220317_Summary.pdf">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220317/20220317_BMCG_List_of_participants.pdf">List of participants</a></p><hr><a class="pdf" href="/paym/groups/pdf/bmcg/220317/20220317_BMCG_Item_1a_ market review_BoA.pdf">Item 1 (a) - Market Review - Bank of America</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220317/20220317_BMCG_Item_1b_market_review_CoBa.pdf">Item 1 (b) - Market Review - Commerzbank</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220317/20220317_Item_2_EU_bonds_Citi.pdf">Item 2 - EU Bonds - Citi</a><p></p> </dd> <dt>24 February</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/220224/2022_02_24_BMCG_summary_of_discussion.en.pdf" data-label="angol">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/220224/2022_02_24_BMCG_List_of_participants.en.pdf" data-label="angol">List of participants</a></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2021</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>2 December</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/211202/2021-12-02_-_BMCG_-_Agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/211202/2021-12-02_BMCG_-_Summary_of_the_discussion.pdf">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/211202/2021-12-02-BMCG_-_List_of_participants.pdf">List of participants</a></p><hr><a class="pdf" href="/paym/groups/pdf/bmcg/211202/2021-12-02_BMCG_Item1_Market_Outlook_ESM.pdf">Item 1 - Market Outlook - ESM</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/211202/2021-12-02_BMCG_Item2_Bond_Market_Liquidity_Morgan_Stanley.pdf">Item 2 - Bond Market Liquidity - Morgan Stanley</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/211202/2021-12-02_BMCG_Item3_Assessing_Market-Based_Inflation_Expectations_AXA_Investment_Managers.pdf">Item 3 - Assessing Market-Based Inflation Expectations - AXA Investment Managers</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/211202/2021-12-02_BMCG_Item4_ECB_Presentation_to_BMCG_on_SMA.pdf">Item 4 - ECB Presentation on SMA</a><p></p> </dd> <dt>15 September</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/210915/2021_05_27_BMCG_Agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210915/20210915_BMCG_Summary_of_the_discussion.pdf">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210915/20210915_BMCG_List_of_Participants.pdf">List of participants</a></p><hr><br><a class="pdf" href="/paym/groups/pdf/bmcg/210915/20210915_BMCG_Welcome_Remarks_Isabel_Schnabel.pdf">Welcome remarks Isabel Schnabel</a><a class="pdf" href="/paym/groups/pdf/bmcg/210915/20210915_Item1_Market_Outlook_Commerzbank.pdf">Item 1 - Market Outlook - Commerzbank</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210915/20210915_Item2_Update_on_ESG_Union_Investment.pdf">Item 2 - Developments in the ESG and Sustainablility-Linked Bond Market - Union Investment</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210915/20210915_item3_Bond_ETF_growth_Tradeweb.pdf">Item 3 - Bond ETF growth - Tradeweb</a><p></p> </dd> <dt>27 May</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/210527/2021_05_27__BMCG_Agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210527/2021_05_27_BMCG_Summary_of_the_discussion.pdf">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210527/2021_05_27_BMCG_List_of_participants.pdf">List of participants</a></p><hr><a class="pdf" href="/paym/groups/pdf/bmcg/210527/Item1_Bond_Market_Developments_Mediobanca.pdf">Item 1 - Bond Market Outlook - Mediobanca</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210527/Item2_Repo_markets_and_SecL_developments_impact_on_bond_markets_GS.pdf">Item 2 - Repo market and securities lending - Goldman Sachs</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210527/Item3_Role_of_non_bank_market_makers_Blackrock.pdf">Item 3 - Role of non bank market makers - Blackrock</a><p></p> </dd> <dt>3 March</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/210303/2021-03-03-BMCG-Agenda.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210303/2021-03-03-BMCG_Summary_of_the_discussion.pdf">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210303/2021_03_03_BMCG_List_of_participants.pdf">List of participants</a></p><hr><a class="pdf" href="/paym/groups/pdf/bmcg/210303/2021-03-03-BMCG_Item_1_Market_review_Amundi.pdf">Item 1 - Market review - Amundi</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210303/2021-03-03-BMCG_Item_2_Central_banks_reaction_and_dash_for_cash_Union.pdf">Item 2 - Central bank tools to address market dysfunction in light of the 2020 “dash for cash” - Union Investment</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/210303/2021-03-03-BMCG_Item_3_Fiscal_policy_and_DMO_strategies_Citi.pdf">Item 3 - Outlook of fiscal policies and their impact on the euro area bond markets, changes in issuance patterns and strategy of DMOs - Citi</a><p></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2020</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>14 December</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/201214/2020-12-14-BMCG-Agenda.pdf">Agenda </a><br><a class="pdf" href="/paym/groups/pdf/bmcg/201214/2020-12-14_-_BMCG_-_Summary_of_the_discussion.pdf">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/201214/2020_12_14_BMCG_List_of_participants.pdf">List of participants</a></p><hr><a class="pdf" href="/paym/groups/pdf/bmcg/201214/20201214_Item_1_Review_of_market_developments.pdf">Item 1: Bond Market Outlook - BNP</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/201214/20201214_Item_2_Feedback_on_EU_Issuance.pdf">Item 2: First experience on the impact of EU issuance on euro area bond markets – Commerzbank</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/201214/20201214_Item_3_Outlook_2021.pdf">Item 3: Outlook for 2021 – Nomura</a><p></p> </dd> <dt>23 September</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/200923/2020-09-23_-_BMCG_-_Agenda.pdf">Agenda </a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200923/2020-09-23_BMCG_Summary_of _the discussion.pdf">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200923/2020_09_23_BMCG_List_of_participants.pdf">List of participants</a></p><hr><a class="pdf" href="/paym/groups/pdf/bmcg/200923/20200923_Item_1_Outlook_Mediobanca.pdf">Item 1: Bond Market Outlook - Mediobanca</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200923/20200923_Item2a_NewNormal_MS.pdf">Item 2a: “New Normal” after Covid-19 – lessons learnt from the impact of the pandemic on the financial markets – Morgan Stanley</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200923/20200923_Item2b_NewNormal_Allianz.pdf">Item 2b: New Normal” after Covid-19 – lessons learnt from the impact of the pandemic on the financial markets – Allianz</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200923/20200923_Item_3a_The implications_of EU_bond_issuance_Blackrock.pdf">Item 3a: Primary euro area bond markets and the impact of the upcoming EU issuance on national issuance and the development of a safe asset for the euro area – Blackrock</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200923/20200923_Item_3b_The_implications_of_EU_issuance_ESM.pdf">Item 3b: Primary euro area bond markets and the impact of the upcoming EU issuance on national issuance and the development of a safe asset for the euro area – ESM</a><p></p> </dd> <dt>25 June</dt> <dd> <p><a class="pdf" href="/paym/groups/pdf/bmcg/200625/2020-06-25_-_BMCG_-_Agenda_-_FINAL.pdf">Agenda</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200625/2020-06-25_-_BMCG_-_Webex_-_Summary_of_the_discussion.pdf">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200625/2020_06_25_BMCG_List_of_participants.pdf">List of participants</a></p><hr><a class="pdf" href="/paym/groups/pdf/bmcg/200625/2020-06-25_BMCG_-_Item_1_-_The_ECB’s_policy_response_to_the_COVID-19_crisis_-_ECB.pdf">Item 1: The ECB’s policy response to the COVID-19 crisis – ECB</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200625/2020-06-25_-_BMCG_-_Item_2_-_Bond_Market_Outlook_-_Citi.pdf">Item 2: Bond Market Outlook – Citigroup</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200625/2020-06-25_-_BMCG_-_Item_3a_-_Real_money_investor_strategies_in_a_low-yield_environment_-_NBIM.pdf">Item 3a: Real money investor strategies in a low-yield environment – NBIM</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200625/2020-06-25_-_BMCG_-_Item_3b_-_Real_money_investor_strategies_in_a_low-yield_environment_-_DWS.pdf">Item 3b: Real money investor strategies in a low-yield environment – DWS</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200625/2020-06-25_-_BMCG_-_Item_4_-_CSDR_mandatory_buy-in_in_non-cleared_bond_and_repo_markets_-_ICMA_&_Goldman_Sachs.pdf">Item 4: CSDR mandatory buy-in in non-cleared bond and repo markets – ICMA & Goldman Sachs</a><p></p> </dd> <dt>6 May</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/200506/2020-05-06_-_BMCG_-_Ad-hoc_telco_-_Summary_of_the_discussion.pdf" class="title">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200506/2020_05_06_BMCG_List_of_participants.pdf">List of participants</a></p> </dd> <dt>21 April</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/200421/2020-04-21_-_BMCG_-_Ad_hoc_telco_-_Summary_of_the_discussion.pdf" class="title">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200421/2020_04_21_BMCG_List_of_participants.pdf">List of participants</a><br><a href="/paym/groups/pdf/bmcg/200421/2020-04-21_-_BMCG_-_Muzinich.pdf">Market Update – Muzinich </a></p> </dd> <dt>30 March</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/200330/2020-03-30_-_BMCG_-_Ad_hoc_telco_-_Summary_of_the_discussion.pdf" class="title">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200330/2020_03_30_BMCG_List_of_participants.pdf">List of participants</a></p> </dd> <dt>18 March</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/200318/2020-03-18_-_BMCG_-_Ad_hoc_telco_-_Summary_of_the_discussion.pdf" class="title">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200318/2020_03_18_BMCG_List_of_participants.pdf">List of participants</a></p> </dd> <dt>9 March</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/200309/2020-03-09_-_BMCG_-_Ad_hoc_telco_-_Summary_of_the_discussion.pdf" class="title">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200309/2020_03_09_BMCG_List_of_participants.pdf">List of participants</a></p> </dd> <dt>6 March</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/200306/2020-03-06_-_BMCG_-_Ad_hoc_telco_-_Summary_of_the_discussion.pdf" class="title">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200306/2020_03_06_BMCG_List_of_participants.pdf">List of participants</a></p> </dd> <dt>4 March</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/200304/2020-03-04_-_BMCG_-_Agenda_-_FINAL.pdf" class="title">Agenda</a><br><a href="/paym/groups/pdf/bmcg/200304/2020-03-04_-_BMCG_-_Summary_of_the_discussion.pdf">Summary</a><br><a class="pdf" href="/paym/groups/pdf/bmcg/200304/2020_03_04_BMCG_List_of_participants.pdf">List of participants</a></p><hr><a href="/paym/groups/pdf/bmcg/200304/2020-03-04_-_BMCG_-_Item_1_-_Bond_Market_Outlook_-_MTS.pdf">Item 1: Bond Market Outlook – MTS</a><br><a href="/paym/groups/pdf/bmcg/200304/2020-03-04_-_BMCG_-_Item_2a_-_A_review_of_central_banks_strategies_-_Nomura.pdf">Item 2a: A review of central banks’ strategies – Nomura</a><br><a href="/paym/groups/pdf/bmcg/200304/2020-03-04_-_BMCG_-_Item_2b_-_A_review_of_central_banks_strategies_-_Commerzbank.pdf">Item 2b: A review of central banks’ strategies – Commerzbank</a><br><a href="/paym/groups/pdf/bmcg/200304/2020-03-04_-_BMCG_-_Item_3_-_Update_on_the_Corporate_Bond_Market_-_Union_Investment.pdf">Item 3: Update on the Corporate Bond Market – Union Investment</a><br><p></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2019</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>20 November</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/191120/2019-11-20_-_BMCG_-_Agenda_-_FINAL.pdf" class="title">Agenda</a><a href="/paym/groups/pdf/bmcg/191120/2019-11-20_-_BMCG_-_Summary_of_the_discussion.pdf">Summary</a><a href="/paym/groups/pdf/bmcg/191120/2019-11-20_-_BMCG_-_List_of_participants.pdf">List of participants</a><a href="/paym/groups/pdf/bmcg/191120/2019-11-20_-_BMCG_-_Item_1_-_Bond_Market_Outlook_-_Union_Investment.pdf">Item 1: Bond Market Outlook – Union Investment</a><a href="/paym/groups/pdf/bmcg/191120/2019-11-20_-_BMCG_-_Item_2a_-_Market_and_survey-based_inflation_expectations_-_EFAMA.pdf">Item 2a: Market and survey-based inflation expectations – EFAMA</a><a href="/paym/groups/pdf/bmcg/191120/2019-11-20_-_BMCG_-_Item_2b_-_Market_and_survey-based_inflation_expectations_-_ECB.pdf">Item 2b: Market and survey-based inflation expectations – ECB</a><a href="/paym/groups/pdf/bmcg/191120/2019-11-20_-_BMCG_-_Item_3a_-_Algorithmic_trading_in_bond_markets_-_Citi.pdf">Item 3a: Algorithmic trading in bond markets – Citi</a><a href="/paym/groups/pdf/bmcg/191120/2019-11-20_-_BMCG_-_Item_3b_-_Algorithmic_trading_in_bond_markets_-_Morgan_Stanley.pdf">Item 3b: Algorithmic trading in bond markets – Morgan Stanley</a></p> </dd> <dt>12 June</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/190612/2019-06-12_-_BMCG_-_Agenda_-_FINAL.pdf" class="title">Agenda</a><a href="/paym/groups/pdf/bmcg/190612/2019-06-12_-_BMCG_-_Summary_of_the_discussion.pdf">Summary</a><a href="/paym/groups/pdf/bmcg/190612/2019-06-12_-_BMCG_-_List_of_participants.pdf">List of participants</a><a href="/paym/groups/pdf/bmcg/190612/2019-06-12_-_BMCG_-_Item_1_-_Bond_Market_Outlook_-_Mediobanca.pdf">Item 1: Bond Market Outlook – Mediobanca</a><a href="/paym/groups/pdf/bmcg/190612/2019-06-12_-_BMCG_-_Item_2a_-_Update_on_Sustainable_and_Responsible_Investing_-_Muzinich.pdf">Item 2a: Update on Sustainable and Responsible Investing – Muzinich</a><a href="/paym/groups/pdf/bmcg/190612/2019-06-12_-_BMCG_-_Item_2b_-_Update_on_Sustainable_and_Responsible_Investing_-_Allianz.pdf">Item 2b: Update on Sustainable and Responsible Investing – Allianz</a><a href="/paym/groups/pdf/bmcg/190612/2019-06-12_-_BMCG_-_Item_3a_-_Bond_market_implications_of_IBOR_Reform_-_ECB.pdf">Item 3a: €STR next steps – ECB</a><a href="/paym/groups/pdf/bmcg/190612/2019-06-12_-_BMCG_-_Item_3b_-_Bond_market_implications_of_IBOR_Reform_-_Blackrock_&_Commerzbank.pdf">Item 3b: Bond market implications of IBOR reform – Blackrock & Commerzbank</a><a href="/press/key/date/2019/html/ecb.sp190612_1~1a3bede969.en.html" data-label="angol">Item 4: Closing remarks - ECB</a></p> </dd> <dt>12 February</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/190212/2019-02-12-BMCG_agenda.pdf" class="title">Agenda</a><a href="/paym/groups/pdf/bmcg/190212/2019-02-12-BMCG_summary.pdf">Summary</a><a href="/paym/groups/pdf/bmcg/190212/2019-02-12-BMCG_participants.pdf">List of participants</a><a href="/paym/groups/pdf/bmcg/190212/2019-02-12-BMCG_Item_1_EFAMA.pdf">Item 1: Bond Market Outlook – EFAMA</a><a href="/paym/groups/pdf/bmcg/190212/2019-02-12-BMCG_Item_2a_ECB.pdf">Item 2a: Euro area DMO issuance dynamics</a><a href="/paym/groups/pdf/bmcg/190212/2019-02-12-BMCG_Item_2b_BNPP.pdf">Item 2b: Update on the Primary Dealership Model - BNPP</a><a href="/paym/groups/pdf/bmcg/190212/2019-02-12-BMCG_Item_3a_DWS.pdf">Item 3a: Liquidity in the euro area bond markets and the market impact of the end of net purchases of the APP - DWS </a><a href="/paym/groups/pdf/bmcg/190212/2019-02-12 BMCG_Item_3b_Tradeweb.pdf">Item 3b: Liquidity in the euro area bond markets and the market impact of the end of net purchases of the APP – Tradeweb </a></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2018</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>9 October</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/181009/2018-10-09_-_BMCG_agenda_FINAL.pdf" class="title">Agenda</a><a href="/paym/groups/pdf/bmcg/181009/2018-10-16_-_BMCG_-_Summary_of_the_discussion.pdf">Summary</a><a href="/paym/groups/pdf/bmcg/181009/2018-10-09_-_BMCG_-_List_of_participants.pdf">List of participants</a><a href="/paym/groups/pdf/bmcg/181009/2018-10-09_-_BMCG_-_Item_1_-_Bond_Market_Outlook_-_BNPP.pdf">Item 1: Bond Market Outlook – BNP Paribas</a><a href="/paym/groups/pdf/bmcg/181009/2018-10-09_-_BMCG_-_Item_2a_-_Electronic_trading_and_MiFID_2_-_Goldman_Sachs.pdf">Item 2a: Electronic trading in bond markets & MiFiD2 – Goldman Sachs</a><a href="/paym/groups/pdf/bmcg/181009/2018-10-09_-_BMCG_-_Item_2b_-_Electronic_trading_and_MiFID2_-_Tradeweb.pdf">Item 2b: Electronic trading in bond markets & MiFiD2 – Tradeweb</a><a href="/paym/groups/pdf/bmcg/181009/2018-10-09_-_BMCG_-_Item_3a_-_Brexit_-_ICMA.pdf">Item 3a: Update on the impact of Brexit – ICMA</a><a href="/paym/groups/pdf/bmcg/181009/2018-10-09_-_BMCG_-_Item_3b_-_Brexit_-_Nomura.pdf">Item 3b: Update on the impact of Brexit – Nomura</a></p> </dd> <dt>26 June</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/180626/2018-06-26_-_BMCG_-_Agenda.pdf" class="title">Agenda</a><a href="/paym/groups/pdf/bmcg/180626/2018-06-26_-_BMCG_-_Summary_of_the_discussion.pdf">Summary</a><a href="/paym/groups/pdf/bmcg/180626/2018-06-26_-_BMCG_-_List_of_participants.pdf">List of participants</a><a href="http://www.ecb.europa.eu/press/key/date/2018/html/ecb.sp180626_1.en.html">Item 1: Welcome Remarks – ECB</a><a href="/paym/groups/pdf/bmcg/180626/2018-06-26_-_BMCG_-_Item_2_-_Bond_Market_Outlook_-_HSBC.pdf">Item 2: Bond Market Outlook – HSBC</a><a href="/paym/groups/pdf/bmcg/180626/2018-06-26_-_BMCG_-_Item_3_-_The_global_QE_unwind_-_Blackrock_Commerzbank.pdf">Item 3: The global QE unwind – Blackrock & Commerzbank</a><a href="/paym/groups/pdf/bmcg/180626/2018-06-26_-_BMCG_-_Item_4a_-_Allianz.pdf">Item 4a: Hidden risks to bond markets – Allianz</a><a href="/paym/groups/pdf/bmcg/180626/2018-06-26_-_BMCG_-_Item_4b_-_Hidden_risks_to_bond_markets_-_Citi.pdf">Item 4b: Hidden risks to bond markets – Citi</a></p> </dd> <dt>6 February</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/180206/2018-02-06_-_BMCG_agenda.pdf" class="title">Agenda</a><a href="/paym/groups/pdf/bmcg/180206/2018-02-06_-_BMCG_-_Meeting_summary.pdf">Summary</a><a href="/paym/groups/pdf/bmcg/180206/2018-02-06_-_BMCG_-_List_of_participants.pdf">List of participants</a><a href="/paym/groups/pdf/bmcg/180206/2018-02-06_-_BMCG_-_Item 1_-_Bond_Market_Outlook_-_Wellington.pdf">Item 1: Bond Market Outlook for the year ahead - Wellington </a><a href="/paym/groups/pdf/bmcg/180206/2018-02-06_-_BMCG_-_Item_2a_-_MiFID_2_-_Morgan Stanley.pdf">Item 2a: Stock-taking on the first weeks under MiFID 2 and MiFIR - Morgan Stanley</a><a href="/paym/groups/pdf/bmcg/180206/2018-02-06_-_BMCG_-_Item_2c_-_MiFID_2_-_Tradeweb.pdf">Item 2b: Stock-taking on the first weeks under MiFID 2 and MiFIR - Tradeweb </a><a href="/paym/groups/pdf/bmcg/180206/2018-02-06_-_BMCG_-_Item_2b_-_MiFID_2_-_Union_Investment.pdf">Item 2c: Stock-taking on the first weeks under MiFID 2 and MiFIR - Union Investment</a><a href="/paym/groups/pdf/bmcg/180206/2018-02-06_-_BMCG_-_Item_3_-_Update_on_the_green_and_social_bond_market_-_ICMA.pdf">Item 3: Update on the green and social bond market – ICMA </a><a href="/paym/groups/pdf/bmcg/180206/2018-02-06_-_BMCG_-_Item_4a_-_Benchmark_Reform_-_Barclays.pdf">Item 4a: Benchmark Reform – Barclays </a><a href="/paym/groups/pdf/bmcg/180206/2018-02-06_-_BMCG_-_Item_4b_-_Benchmark_Reform_-_AFME.pdf">Item 4b: Benchmark Reform – AFME </a></p> </dd> </dl> </div> </div> <div class="header"> <div class="title">2017</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>10 October</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/171010/2017-10-10_-_BMCG_final_agenda.pdf?c9dd797862a9f9a5d405be7c04b34bf5">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/171010/2017-10-10_-_BMCG_-_Meeting_summary.pdf?94f35f5763d92bbde6e32d111ca1392b">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/171010/2017-10-10_-_BMCG_-_List_of_participants.pdf?1c79b3a0cfcf5f389e44d2fc46f63dd7">List of participants</a><a class="pdf" href="/paym/groups/pdf/bmcg/171010/2017-10-10_-_BMCG_-_Item 1_-_Bond_Market_Outlook_-_EFAMA.pdf?bd839f72ec1472772af79744cc236d16">Item 1 - Bond Market Outlook - EFAMA</a><a class="pdf" href="/paym/groups/pdf/bmcg/171010/2017-10-10_-_BMCG_-_Item 2a_-_MiFID_2_and_MiFiR_-_Barclays.pdf?e8542b054776dbdcdd18728986e48fd3">Item 2a - MiFID 2 and MiFiR - Barclays</a><a class="pdf" href="/paym/groups/pdf/bmcg/171010/2017-10-10_-_BMCG_-_Item 2b_-_MifidII_MiFiR_-_DAM.pdf?8f13dac11dce702677068a6d9765b01f">Item 2b - MifidII MiFiR - DAM</a><a class="pdf" href="/paym/groups/pdf/bmcg/171010/2017-10-10_-_BMCG_-_Item 2c_-_MiFiD2_Research_rules_and_implementation_-_Commerzbank.pdf?095d78979d9f6f2b4a9cb05403f60330">Item 2c - MiFiD2 Research rules and implementation - Commerzbank</a><a class="pdf" href="/paym/groups/pdf/bmcg/171010/2017-10-10_-_BMCG_-_Item 3a_-_Sovereign_risk_concentration_-_Nomura.pdf?57da3fd9b782a92f1b3318dcb6313ee9">Item 3a - Sovereign risk concentration - Nomura</a><a class="pdf" href="/paym/groups/pdf/bmcg/171010/2017-10-10_-_BMCG_-_Item 3b_-_Primary_Dealers_-_HSBC.pdf?20ac8a7cee0f75bd73ed7d14860ea1ef">Item 3b - Primary Dealers - HSBC</a> </dd> <dt>16 May</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/170516/Agenda.pdf?a64ca3be547cf73d45f6aea63a680e4f">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/170516/Summary_of_discussion.pdf?92f45e91e9d07369c831ad428c130742">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/170516/Presentation_item_2_-_Secondary_market_and_impact_of_repo_liquidity.pdf?c5c30d897c32da2ae825732d3280dcc6">Presentation item 2 – Secondary market and impact of repo liquidity</a><a class="pdf" href="/paym/groups/pdf/bmcg/170516/Presentation _item_3_a_-_An_overview_of_FinTech.pdf?3e97af323f46ca79b8210a9d8250fd13">Presentation item 3 a – An overview of FinTech</a><a class="pdf" href="/paym/groups/pdf/bmcg/170516/Presentation_item_3_b_-_Update_on_Trends_on_E-Trading_Venues.pdf?74e39c4dbc1792ae237ae175ead6c1b9">Presentation item 3 b – Update on Trends on E-Trading Venues</a><a class="pdf" href="/paym/groups/pdf/bmcg/170516/Presentation_item_4_-_Bond_market_outlook.pdf?aa4ee63aef61be03fea65df8202f0b45">Presentation item 4 – Bond market outlook</a> </dd> <dt>7 February</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/170207/Final_agenda.pdf?9f821cde6cb95be845db0250e0009a85">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/170207/summary_of_discussion.pdf?a38723df76c40cdecc676353232e5fd9">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/170207/Item_1_-_GDP-linked_bonds_and_sovereign_bond_backed_securities.pdf?be259a371b60997ecddf4fa3276631dd">Presentation item 1 – GDP linked bonds and sovereign bond-backed securities</a><a class="pdf" href="/paym/groups/pdf/bmcg/170207/Item_2_-_Impact_of_the_ECB_asset_purchase_programme.pdf?86e76bb444dd5ffbd10d5c3934d436c5">Presentation item 2 – Impact of the ECB asset purchase programme</a><a class="pdf" href="/paym/groups/pdf/bmcg/170207/Item_3_-_Yield_curve_targeting_-_Part_I.pdf?22e1439ede17cbca30f026b0a95b5b3c">Presentation item 3.1 – Yield curve targeting-part I</a><a class="pdf" href="/paym/groups/pdf/bmcg/170207/Item_3_-_Yield_curve_targeting_-_Part_II.pdf?856935213fbc1ee366102d28ebefd469">Presentation item 3.2. – Yield curve targeting-part II</a><a class="pdf" href="/paym/groups/pdf/bmcg/170207/Item_4_-_Bond_market_outlook.pdf?ba03315a0ca84b6376e3616ef15d7e90">Presentation item 4. – Bond market outlook</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2016</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>12 October</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/161012/2016-10-12_Final_agenda.pdf?65d14d99fd2dcab7ae75ce0cf8be1077">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/161012/2016-10-12_-_summary_of_discussion.pdf?b0e0961f2c98b63fab103ce6346eb181">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/161012/2016-10-12_-_Item_1.1._-_Impact_of_the_upcoming_regulations_on_derivatives_markets_and_risk_absorption_-_sell-side.pdf?f878f14b399f001fc74af0e3d14610ce">Presentation item 1.1</a><a class="pdf" href="/paym/groups/pdf/bmcg/161012/2016-10-12_-_Item_1.2_-_Impact_of_the_upcoming_regulations_on_derivatives_markets_and_risk_absorption_-_buy-side.pdf?9df4729e4550632ea05cf7ddef102221">Presentation item 1.2</a><a class="pdf" href="/paym/groups/pdf/bmcg/161012/2016-10-12_-_Item_1.3_-_Impact_of_regulation_on_interest_rate_derivatives_-_Eurex.pdf?b7a99801b234a3dadc747ebba48da145">Presentation item 1.3</a><a class="pdf" href="/paym/groups/pdf/bmcg/161012/2016-10-12_-_Item_2.1_-_Central_banks_experience_on_reinvestment_of_QE_programmes.pdf?cc75190f5aea5f1e433dffaca7c8d2eb">Presentation item 2.1</a><a class="pdf" href="/paym/groups/pdf/bmcg/161012/2016-10-12_-_Item_2.2_-_Implications_of_maintaining_QE_portfolios.pdf?88ea765f304783b5b9ee497782b769de">Presentation item 2.2</a><a class="pdf" href="/paym/groups/pdf/bmcg/161012/2016-10-12_-_Item_3.1_-_Monitoring_and_assessment_of_bond_market_depth_and_liquidity_-_buy-side.pdf?22e6f53db62c9e77576ced0691fda7d9">Presentation item 3.1</a><a class="pdf" href="/paym/groups/pdf/bmcg/161012/2016-10-12_-_Item_3.2_-_Monitoring_and_assessment_of_bond_market_depth_and_liquidity_-_sell-side.pdf?9cda45132f26d18a38cd8724c547d366">Presentation item 3.2</a><a class="pdf" href="/paym/groups/pdf/bmcg/161012/2016-10-12_-_Item_4_-_bond_market_outlook.pdf?476e460122a5309a5ba26ed8b53eef1c">Presentation item 4</a> </dd> <dt>27 June</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/160627/2016-06-27_-_summary_of_discussion.pdf?7c72e2431de4dd9b9b9885dc981c27a6">Summary</a> </dd> <dt>21 June</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/160621/2016-06-21_Final_agenda.pdf?4c44bd2e80d7eb459b9d5044be79e83d">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/160621/2016-06-21_-_summary_of_discussion.pdf?0bf09faa5f800144f0fb2cfbec17dc34">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/160621/2016-06-21_-_Item 1_-_Bond_Market_Outlook.pdf?7766fb54ce5ea3af6c7d122fc2bd1d97">Presentation item 1 – Bond market outlook</a><a class="pdf" href="/paym/groups/pdf/bmcg/160621/2016-06-21_-_Item_2.1_-_Risk_markets_into_the_UK_referendum.pdf?8c8a466bf10829c65a1c243816ea0a7e">Presentation item 2.1 – Risk markets into the UK referendum on EU membership</a><a class="pdf" href="/paym/groups/pdf/bmcg/160621/2016-06-21_-_Item 2.2_-_Further_aspects_from_the_UK_referendum_on_EU_membership.pdf?e011dd2c7692f2df14bdbd5092e9925c">Presentation item 2.2 – Further aspects from the UK referendum</a><a class="pdf" href="/paym/groups/pdf/bmcg/160621/2016-06-21_-_Item 3.1_-_How_does_Solvency_2_work.pdf?2a45e6113ff195f84d51c6df20e17ba0">Presentation item 3.1 – How does Solvency II work</a><a class="pdf" href="/paym/groups/pdf/bmcg/160621/2016-06-21_-_Item 3.2._-_Solvency_2_impact_on_European_bond_markets.pdf?ab42efd51bf3522e5bacfbc02495b12a">Presentation item 3.2. – Solvency II impact on European bond markets</a><a class="pdf" href="/paym/groups/pdf/bmcg/160621/2016-06-21_-_Item 4.1._-_Impact_of_the_recent_regulation_on_repo_for_insurance_companies.pdf?0c9e51d9a7b63c3c84f0099091cd9fa2">Presentation item 4.1. – Impact of the recent regulation on repo for insurance companies</a><a class="pdf" href="/paym/groups/pdf/bmcg/160621/2016-06-21_-_Item_4.2_-_Update_on_capital_and_liquidity_requirements.pdf?28ec37d859f187429d496e3055a24778">Presentation item 4.2 – Update on capital and liquidity requirements</a><a class="pdf" href="/paym/groups/pdf/bmcg/160621/2016-06-21_-_Item_4.2_-_Update_on_capital_and_liquidity_requirements.pdf?28ec37d859f187429d496e3055a24778">Presentation item 4.3 – Towards an FX single code</a> </dd> <dt>7 April</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/160407/2016-04-07_Final_agenda.pdf?2917a6ce8c94c5587d9d330865a7ac31">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/160407/2016-04-07_summary_of_discussion.pdf?b9f7aeec248a4ce459f347eaa82dedbf">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/160407/2016-04-07_Item_1_Bond_market_outlook.pdf?0e5bfeadbad0375be39cb43acea3c95b">Presentation item 1 – Bond market outlook and other topics of relevance</a><a class="pdf" href="/paym/groups/pdf/bmcg/160407/2016-04-07_Item_2_1_impact_of_low_or_negative_interest_rates-dealer_perspective.pdf?02b8b7a73004777fd417f8deee273b21">Presentation item 2.1 - Impact of low or negative interest rate environment – dealer perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/160407/2016-04-07_Item_2_2_Impact_of_low_or_negative_interest_rates-investor_perspective.pdf?396622b044951786262c3308b9da7867">Presentation item 2.2 – Impact of low or negative interest rate environment – insurance company perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/160407/2016-04-07_Item_3_bank_business_models_and_the_role_of_PTFs_in_liquidity_provision_and_intermediation.pdf?dc289da65d86c27a14c20d5cce72effc">Presentation item 3 - Bank business models and the role of Principal Trading Firms (PTFs) in liquidity provision and intermediation</a><a class="pdf" href="/paym/groups/pdf/bmcg/160407/2016-04-07_Item_4_EMMI_money_market_benchmarks_and_the_ongoing_reform_process.pdf?dfd8ef30a5ab0b86bcbe4f1d909ebf58">Presentation item 4 – Money market benchmarks and on the on-going reform process</a> </dd> <dt>19 January</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/160119/2016-01-19_BMCG_Final_agenda.pdf?339ea4add03d8496491c14a34eb202e6">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/160119/2016-01-19_summary_of_discussion.pdf?03daa8d7e4e3ba2bcb29583ef52f50d4">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/160119/2016-01-19_Item_1.a.AutomatedTradingStrategies-dealerperspective.pdf?945d165db9fffc19b0ad4d92b60deb13">Presentation item 1.a – Automated trading strategies – dealer perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/160119/2016-01-19-Item1.bETPsfromthebuy-sideperspective.pdf?519749faaaf042b8e8a2fb430ea6072b">Presentation item 1.b - Automated trading strategies – buy-side perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/160119/2016-01-19_-_Item_1.c_-_ICMA_ETP_Mapping_Study.pdf?afe83123573b68c458173c2cfcb1655a">Presentation item 1.c – ICMA ETP mapping study</a><a class="pdf" href="/paym/groups/pdf/bmcg/160119/2016-01-19-Item2-Bondmarketoutlookissuanceandothertopics.pdf?9ea4ef669a51f5df54057366186642b7">Presentation item 2 - Bond market outlook, issuance and other topics</a><a class="pdf" href="/paym/groups/pdf/bmcg/160119/2016-01-19-Item_3.a-Transmission_of_the_ECB_s_APP-dealer_perspective.pdf?c75254462a21d4fae471e66599f2323b">Presentation item 3.a – Transmission of the ECB’s expanded asset purchase programme</a><a class="pdf" href="/paym/groups/pdf/bmcg/160119/2016-01-19-Item3.b-ECBpresentation-Market-basedindicatorsofinflationexpectations.pdf?bb4818d0caf30be278de1fbc03403bbb">Presentation item 3.b – Recent developments in market-based indicators of inflation expectations</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2015</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>13 October</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/151013/bmcg_151013_agenda.pdf?9353bbaf0f6ee798f2e86de103ea166d">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/151013/bmcg_151013_summary.pdf?50c2eb71583ff87595c9f453f2a253cf">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/151013/bmcg_151013_item_1_bond_market_outlook_and_other_topics_of_relevance.pdf?eddf1bc9bb2721ee6d6280245a0dc048">Presentation item 1 - Bond market outlook and other topics of relevance</a><a class="pdf" href="/paym/groups/pdf/bmcg/151013/bmcg_151013_item_2_1_a _MiFID_II_from_a_dealer_perspective.pdf?523005940ee67996379aefcdde3d8a87">Presentation Item 2.1.a - Impact of MiFID II from a dealer perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/151013/bmcg_151013_item_2_1_b_MIFID_II_from_a_buy_side_perspective.pdf?dc32de3f6795846571ee1b8dcb1c5b7a">Presentation Item 2.1.b - Impact of MiFID II from an investor perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/151013/bmcg_151013_item_2_2_impact_of_new_regulations_related_to_derivative_products.pdf?20355571b8fb62f8150cc2ebee1c3b4c">Presentation Item 2.2 - Impact of new regulations related to derivative products</a><a class="pdf" href="/paym/groups/pdf/bmcg/151013/bmcg_151013_item_2_3_implications_of_new_capital_regulations.pdf?2b9a6358845c2eba1b16e71e5247219f">Presentation Item 2.3 - Implications of the new capital regulations (including the TLAC and MREL rules)</a><a class="pdf" href="/paym/groups/pdf/bmcg/151013/bmcg_151013_item_3_self_regulated_best_practices.pdf?561602a2bd0388736fb6ef579c615172">Presentation Item 3 - Self-regulated best practices</a> </dd> <dt>30 June</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/150630/agenda.pdf?ca2fc859db7893fbcd444d6605b88664">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/150630/summary.pdf?637d17b0fe723d77b295bb1f3186de34">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/150630/item1_bond_market_outlook.pdf?e14d309c8f9a036c2dafe0d509fee4c5">Presentation Item 1 - Bond market outlook</a><a class="pdf" href="/paym/groups/pdf/bmcg/150630/item2_implications_of_the_end_of_tapering_by_the_Fed_and shift_into_normal_mode.pdf?46d0a6785a5708c9bf5baf45a90f499c">Presentation Item 2 - Implications of the end of tapering by the Federal Reserve</a><a class="pdf" href="/paym/groups/pdf/bmcg/150630/item3_1_impact_of_APP_dealer_perspective.pdf?02d58dbffedc5390612d0043d0c4059e">Presentation Item 3.1 – Long term implications of the APP – dealer perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/150630/item3_2_impact_of_the_PSPP_investor_perspective.pdf?884a78236022a45d06bd34c7e00bec5f">Presentation Item 3.2 – Long term implications of PSPP – investor perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/150630/item3_3_impact_of_the_ABSPP_CBPP3_investor_perspective.pdf?a11f4b9427d24bd165d208eaf4f4d494">Presentation Item 3.3 – Long term implications of ABSPP and CBPP3 – investor perspective </a> </dd> <dt>29 June (teleconference)</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/150629/summary.pdf?6343b7d1d6a0f02965dd954bde4fc2cc">Summary</a> </dd> <dt>21 April</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/150421/Final_agenda.pdf?ca721efa29c9ce0243b68104de68d392">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/150421/Summary.pdf?f80e533ba1a70824797f3080cfd3c284">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/150421/Item_1_-_Bond_market_outlook.pdf?faed40e6fcbfd31e20744d6994a0dc1e">Presentation Item 1</a><a class="pdf" href="/paym/groups/pdf/bmcg/150421/Item_2_-_Global_portfolio_flows_and_their_impact_on_European_bond_ markets.pdf?a5d162e9d310307adeadf14b009abab8">Presentation Item 2</a><a class="pdf" href="/paym/groups/pdf/bmcg/150421/Item_3.1_-_dealer_perspective.pdf?ec31882dc284325b2328bb877c112d3a">Presentation Item 3.1 – liquidity in bond and credit markets – dealer perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/150421/Item_3.2_-_investor_perspective.pdf?db7b73faa8afda2927b3aa020e601fe7">Presentation Item 3.2 – liquidity in bond and credit markets – investor perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/150421/Item_4_-_EU_sovereign_debt_markets.pdf?81d12d2974ec8d0b8759d0df4f8efa10">Presentation item 4 – Presentation of the EFC Sub-Committee on EU Sovereign Debt Markets (ESDM</a> </dd> <dt>16 March (teleconference)</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/150318/summary_of_teleconference_on_PSPP_implementation.pdf" class="title">Summary</a></p> </dd> <dt>27 January</dt> <dd> <p><a href="/paym/groups/pdf/bmcg/150127/2015-01-27-agenda.pdf" class="title">Agenda</a><a href="/paym/groups/pdf/bmcg/150127/2015-01-27-summary.pdf">Summary</a></p><a class="pdf" href="/paym/groups/pdf/bmcg/150127/2015-01-27-Item-1.pdf?b19b6e8806f1578acc96790e06f35c3d">Item 1 - Bond market outlook</a><a class="pdf" href="/paym/groups/pdf/bmcg/150127/2015-01-27-Item-2-1.pdf?77408c9d141930a16f384bd20b4bd756">Item 2.1 - Analysis of October 2014 risk-off episode from a HF perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/150127/2015-01-27-Item-2-2.pdf?b9bdcdff9efe15ea1c647485c452c298">Item 2.2 - Events of October 2014 from a dealer perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/150127/2015-01-27-Item-3-1.pdf?634fd27c4c5dec3e1269fd6284ae88ed">Item 3.1 - Impact of ABSPP and CBPP3 and potential LSAPs</a><a class="pdf" href="/paym/groups/pdf/bmcg/150127/2015-01-27-Item-3-2.pdf?01c15557a8aa45e3164e28ccd2760b74">Item 3.2 - Impact of ABSPP and CBPP3 January 2015 from an investor perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/150127/2015-01-27-Item-4.pdf?adc24a148a93074a2f9331d3423ba694">Item 4 - Best practice framework for euro area government bond markets</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2014</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>21 October</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/141021/agenda.pdf?d80ab8a7568eae2aa66ac75ced14a208">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/141021/summary.pdf?6fdf4f540c4e53f785dae32226f852cb">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/141021/2014-10-21-Item-1.pdf?d9ec1de39632297e4566326148153b3f">Item 1 - Bond market outlook</a><a class="pdf" href="/paym/groups/pdf/bmcg/141021/2014-10-21-Item-2-1.pdf?b104ffa5603428cf5337f7005fa2c685">Item 2.1 - Collateral issues of relevance for the functioning of bond markets - bank perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/141021/2014-10-21-Item-2-2.pdf?b6abf5a092e9126fd14bf73df89a1f43">Item 2.2 - Collateral issues of relevance for the functioning of the bond markets - investor perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/141021/2014-10-21-Item-2-3.pdf?f4bc412a81d3c7e1f031185c7bd1cca8">Item 2.3 - Recent Developments to the Collateral Framework</a><a class="pdf" href="/paym/groups/pdf/bmcg/141021/2014-10-21-Item-3.pdf?792568594d95f65febb4fae3a1d97689">Item 3 - Systemic risk</a><a class="pdf" href="/paym/groups/pdf/bmcg/141021/2014-10-21-Item-4-1.pdf?8b8848968963db0a638e19e4e7f553b6">Item 4.1 - Best practice framework – US fixed income markets</a><a class="pdf" href="/paym/groups/pdf/bmcg/141021/2014-10-21-Item-4-2.pdf?213aaf6e88545496340cafd14eb6abb2">Item 4.2 - Best Practice framework - EGB Market</a> </dd> <dt>1 July</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/140701/agenda.pdf?bdd7993d5ef07ececa93fadd5e07e7f0">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/140701/summary.pdf?3df5a2970142653e72a62a181758c8ff">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/140701/item_1.pdf?ae3867cd9682963d652b3203c27e960a">Item 1 - Bond Market Outlook</a><a class="pdf" href="/paym/groups/pdf/bmcg/140701/item_2-1.pdf?babb5a5f914e4b3b1ce45c26375a9532">Item 2 part I- Some considerations on market making and trading</a><a class="pdf" href="/paym/groups/pdf/bmcg/140701/item_2-2.pdf?a25f2ad755bad409c5e3fc45c975be37">Item 2 part II - Addressing the Liquidity Challenge</a><a class="pdf" href="/paym/groups/pdf/bmcg/140701/item_3.pdf?637ddfe3fcff5e0dd58e6f39ad63fe49">Item 3 - Demand for sovereign bonds: The importance of diversity</a><a class="pdf" href="/paym/groups/pdf/bmcg/140701/item_4.pdf?ffd7b728a7497612476c1e4354d32bc2">Item 4 - SSM Comprehensive Assessment - Key issues from a market perspective</a> </dd> <dt>8 April</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/140408/agenda.pdf?f09ffe16a34a5efb82dad8d47bb52e63">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/140408/summary.pdf?90e49db63170c904d579846157dd40aa">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/140408/Item_1_presentation.pdf?4c3e9a3e383e6ba70460f0c3066fc60a">Item 1 - bond market outlook and other topics of relevance</a><a class="pdf" href="/paym/groups/pdf/bmcg/140408/Item_2.pdf?d85d81554233ff256e6067969891a858">Item 2 - Central banks' asset purchase programmes</a><a class="pdf" href="/paym/groups/pdf/bmcg/140408/Item_3_part_1.pdf?e0104a4cc61a16367377083364cd4834">Item 3 part I - Role of trading and liquidity in bond markets</a><a class="pdf" href="/paym/groups/pdf/bmcg/140408/Item_3_part_2.pdf?dafcfe46bc9beca3f842191c76092fb7">Item 3 part II - Role of trading and liquidity in bond markets</a><a class="pdf" href="/paym/groups/pdf/bmcg/140408/Item_4_part_1.pdf?8f6259f33fab0e93ed63efa3601d996d">Item 4 part I - SME funding initiatives - New European Comission initiatives for SME funding in Europe.pdf</a><a class="pdf" href="/paym/groups/pdf/bmcg/140408/Item_4_part_2.pdf?b767b5c280aef3dca4e1122c916bad8c">Item 4 part II - SME funding initiatives - the market association perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/140408/Item_4_part_3.pdf?c379df674f8ef42f172cceb70ca1f1d6">Item 4 part III - SME funding initiatives - the issuer perspective.pdf</a> </dd> <dt>21 January</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/140121/agenda.pdf?5ff3cf416c28994bc055c0ab91534d14">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/140121/summary.pdf?ac8a6038d1f73574c87b06c8cb3f9394">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/140121/1_Bond_market_outlook_and_main_developments.pdf?32b55b4688be98df63a43c69b8a0c6e3">Item 1 - Bond market outlook and main developments</a><a class="pdf" href="/paym/groups/pdf/bmcg/140121/2a_Sovereign_funding_challenges_for_2014_and_private_sector_issuance.pdf?b7ad06b94f00918457d13d1ea7dc8247">Item 2a - Sovereign funding challenges for 2014 and private sector issuance</a><a class="pdf" href="/paym/groups/pdf/bmcg/140121/2b_Bond_demand_outlook_from_investor_side.pdf?a2f0823f9793c78d42798b38abb9344e">Item 2b - Bond demand outlook from investor side</a><a class="pdf" href="/paym/groups/pdf/bmcg/140121/3_Review_of_latest_developments_of_electronic_trading_in_bond_markets.pdf?af1ad52085bccd70ab7fddb9c8d39ec5">Item 3 - Review of latest developments of electronic trading in bond markets</a><a class="pdf" href="/paym/groups/pdf/bmcg/140121/4_Risk_metrics.pdf?2327388394615528e1151fcb549a360c">Item 4 - Risk metrics</a> </dd> </dl> </div> </div> <div class="header"> <div class="title">2013</div> </div> <div class="content-box"> <div class="definition-list"> <dl> <dt>8 October</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/131008/agenda.pdf?653acf81eed5170690e72e6786f2d8c0">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/131008/summary.pdf?7e495acbcd89c61043554df6a6c10bfe">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/131008/1_Bond_market_outlook_and_other_topics_of_relevance.pdf?6009727da7fcbbdfef31c243c0344d82">Presentation item 1</a><a class="pdf" href="/paym/groups/pdf/bmcg/131008/2_European_banks_and_corporates_funding_models.pdf?23369c55c2f29f5889e3b3a3de671e37">Presentation item 2</a><a class="pdf" href="/paym/groups/pdf/bmcg/131008/3_Update_on_the_ABS_market_and_outlook.pdf?e11b7ead4250e2ab8d22f90ddcd1df20">Presentation item 3</a><a class="pdf" href="/paym/groups/pdf/bmcg/131008/4_Update_on_the_covered_bond_market_and_outlook.pdf?e21c96f9f7a72f76295907b56f2fc26b">Presentation item 4</a> </dd> <dt>9 July</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/130709/agenda.pdf?1df1cc7f7842d3a53fdbad7e1de8f6b4">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/130709/summary.pdf?58d470cbb955ae0eb240306ea49eb595">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/130709/1Review_of_recent_bond_market_developments.pdf?340817ec2343df499cb895d0e3996027">Item 1 - Review of recent bond market developments</a><a class="pdf" href="/paym/groups/pdf/bmcg/130709/2Bond_market_liquidity.pdf?f9c110c10a7f6ebe46ba0037b2523761">Item 2 - Bond market liquidity</a><a class="pdf" href="/paym/groups/pdf/bmcg/130709/3Euro_area_financial_integration.pdf?18b7389d6a9e89b28c323504c4548100">Item 3 - Euro area financial integration</a><a class="pdf" href="/paym/groups/pdf/bmcg/130709/4aThe_main_elements_of_BRRD.pdf?16b33eba6c6af2bd3664ac567189a425">Item 4a - The main elements of BRRD</a><a class="pdf" href="/paym/groups/pdf/bmcg/130709/4bToo_big_to_fail.pdf?7779a6cf2ab85066e62d6be9e0fc2f68">Item 4b - Too big to fail</a><a class="pdf" href="/paym/groups/pdf/bmcg/130709/5Impact_on_regulatory_developments_from_an_insurance_company_point_of_view.pdf?7cbf77dbe48254b9b392690f06ac984d">Item 5 - Impact on regulatory developments from an insurance company point of view</a> </dd> <dt>9 April</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/130409/agenda.pdf?145c6b2e17a29b9cd2b7c4c9d3faf858">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/130409/summary.pdf?bd407e18b0c8a1defa4e4dcbb015affb">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/130409/item_1.pdf?2f22c65e286e02e19add2efa2f2e0080">Item 1 - Review of recent bond market developments</a><a class="pdf" href="/paym/groups/pdf/bmcg/130409/item_2.pdf?9fdd06b0f667863bd596711c3325210b">Item 2 - Market Access for Sovereigns</a><a class="pdf" href="/paym/groups/pdf/bmcg/130409/item_3.pdf?6d44a9ed263c691d84f5d320cbc79dad">Item 3 - Market Functioning Issues</a><a class="pdf" href="/paym/groups/pdf/bmcg/130409/item_4.pdf?11b336848d9fcdd30f09fb4429ee4017">Item 4 - Putting scarcity scares into perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/130409/item_5a.pdf?464eb19f6597838e348c7b11b1db7307">Item 5a - The Impact on Bond Markets – Buy Side Perspectives</a><a class="pdf" href="/paym/groups/pdf/bmcg/130409/item_5b.pdf?5dc9fbb846020444eb97236f7efb3794">Item 5b - The impact of legislation on the bond markets; MIFID II and the Basel Securitisation Framework</a><a class="pdf" href="/paym/groups/pdf/bmcg/130409/item_6.pdf?3a08e14f18fca724c3db061abcc0eb8b">Item 6 - Financial transaction tax</a> </dd> <dt>22 January</dt> <dd> <a class="pdf" href="/paym/groups/pdf/bmcg/130122/agenda.pdf?83b5513a6b2ec5b2a4d2be228d428ed5">Agenda</a><a class="pdf" href="/paym/groups/pdf/bmcg/130122/summary.pdf?bb6f54e8b535cf72430c749c49437567">Summary</a><a class="pdf" href="/paym/groups/pdf/bmcg/130122/Item_2.pdf?cbee9fc6c44fa4229d22bf805ff1cc33">Item 2 - Review of bond market developments</a><a class="pdf" href="/paym/groups/pdf/bmcg/130122/Item_3_i.pdf?42aac4f5cd0cd198aa9dcb49ac9d71d0">Item 3 (i) - Global outlook for public sector and private sector bond issuance</a><a class="pdf" href="/paym/groups/pdf/bmcg/130122/Item_3_ii.pdf?1972458589f31a035894702bdcb925dc">Item 3 (ii) - Global outlook for public sector and private sector bond issuance from investor perspective</a><a class="pdf" href="/paym/groups/pdf/bmcg/130122/Item_3_iii.pdf?2284dad479392f8e6085a9d2ef606e1f">Item 3 (iii) - Developments in eligible and used collateral</a><a class="pdf" href="/paym/groups/pdf/bmcg/130122/Item_4.pdf?a2e921df509927d02f430c2552e706c6">Item 4 - Regulatory changes and other structural issues</a> </dd> </dl> </div> </div> </div> <div class="in-this-section" id="pages-in-section-holder"> <h3>Ebben a szekcióban található oldalak</h3> <div class="content-box"> </div> </div> </main> </div> <div id="feedback" class="hidden"> <div class="content-box"> <div class="initial"> <div class="title">Elégedett az oldallal?</div><a class="button -inverted-color" id="feedback-yes">Igen</a> <a class="button -inverted-color" id="feedback-no">Nem</a></div> <div class="second hidden"> <div class="title">Mi a probléma?</div><a class="button -inverted-color" id="feedback-broken">Nem működik az oldal</a> <a class="button -inverted-color" id="feedback-content">Az információ nem hasznos</a> <a class="button -inverted-color" id="feedback-design">Az oldal kialakítása nem tetszetős</a> <a 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