GLOSSARY of ACRONYMS for KEY FINANCIAL ORGANISATIONS
AFG
www.afg.asso.fr
AMF
Association Française de la Gestion
financière
Autorité des Marchés Financiers
AMTE
Euro Debt Market Association
www.aft.gouv.fr
ARC
Accounting Regulatory Committee
ec.europa.eu
BdB
Association of German Banks
www.german-banks.com
International forum for exchange and articulating the collective voice of the
euro-denominated fixed income and derivatives markets
Provides opinion on Commission proposals to adopt (endorse) an
international accounting standard
Represents interests of private German commercial banks
BEUC
Bureau of European Consumers
www.beuc.org
Promotes the interests of European consumers in the EU policy process
BIS
Bank for International Settlements
www.bis.org
CEA
www.cea.org
www.c-ebs.org
www.ceiops.org
Level 3 Committee for the insurance & occupational pensions sectors
CEPR
European Federation of National Insurance
Associations
Committee of European Banking
Supervisors
Committee of European Insurance and
Occupational Pensions Supervisors
Centre for Economic Policy Research
International organisation fostering international monetary and financial cooperation - serves as a bank for central banks
Resolves issues of strategic interest to all european insurers, focusing on
regulatory issues
Level 3 Committee for the banking industry
www.cepr.org
CEPS
Centre for European Policy Studies
www.ceps.be
CESR
www.cesr-eu.org
CFTC
Committee of European Securities
Regulators
Commodity Futures Trading Commission
Support for bodies active at European level in the field of active European
citizenship
Policy think-tank providing research and activities on economic and
international policy matters
Level 3 Committee for the Securities and Asset Management Industries
CGFS
Committee on the Global Financial System
www.bis.org
CML
Council of Mortgage Lenders
www.cml.org.uk
Aims to foster open, competitive, and financially sound commodity markets
in the US
A central bank forum for the monitoring & examination of broad issues
relating to financial markets and systems
Trade association for the UK mortgage lending industry
CoL
Corporation of London
www.cityoflondon.gov.uk
Provides local government services for the City of London
CPSS
Committee on Payment and Settlement
Systems
www.bis.org/cpss
EAPB
European Association of Public Banks
www.eapb.be
EBC
European Banking Committee
ec.europa.eu
EBIC
European Banking Industry Committee
www.ebic.org
ECB
European Central Bank
www.ecb.eu
Forum for central banks of G10 for monitoring and analysing developments
in domestic payment, settlement and clearing systems and cross-border and
multi-currency settlement schemes
Represents the specific interests of public or public owned banks,
development banks & funding agencies at European level and this vis-à-vis
the EU, professional organisations, the press and the general public
Successor to Banking Advisory Committee fulfilling both comitology and
advisory functions
Ensures a representative and co-ordinated banking industry view throughout
the process of drafting, adopting, implementing and enforcing EU financial
legislation.
Central bank for Europe's single currency area
ECON
Economic and Monetary Affairs Committee
www. europarl.europa.eu
EFAMA
European Fund and Asset Management
www.efama.org
CEBS
CEIOPS
www.amf-france.org
www.cftc.gov
Assists French members on key financial issues, active in drafting European
regulatory framework
Independent public body with remit to safeguard investments in financial
instruments and other savings and investment vehicles
European Parliament Committee responsible for economic and monetary
policies
Representative association for the European investment management
Association
industry
EFBS
European Federation of Building Societies
www.efbs.org
EFR
European Financial Services Roundtable
www.efr.be
EFRAG
Financial Reporting Advisory
www.efrag.org
Federation for Retirement
www.efrp.org
League for Economic Co-
www.elec-lece.eu
EPC
European
Group
European
Provision
European
operation
European
Payments Council
www.europeanpaymentscouncil.eu
EPC
Economic Policy Committee
ec.europa.eu
EPDA
European Primary Dealers Association
www.bondmarkets.com
EPFSF
www.epfsf.org
ESBG
European Parliamentary Financial Services
Forum
European Savings Banks Group
ESME
European Securities Markets Expert Group
ec.europa.eu
FASB
Financial Accounting Standards Board
www.fasb.org
FBE
European Banking Federation
www.fbe.be
Non-lobbying Forum to foster a dialogue between the European Parliament
and the financial services industry
Generates, facilitates and supports the management of cross-border
banking projects
Provides legal and economic advice to the Commission on the application of
the EU securities Directives
Aims to establish and improve standards of financial accounting and
reporting in the US
Voice of the European banking sector
FEE
www.fee.be
Representative organisation for the accountancy profession in Europe
www.fese.eu
FOPI
Fédération des Experts Comptables
Européens
Federation of European Securities
Exchanges
Forum of User Experts in the area of
Financial Services
Federal Office of Private Insurance
www.bpv.admin.ch
Fostering the global competitiveness of & promoting public recognition of
European exchanges & providing a forum for debate on capital markets
Expert forum to help Commission meet the need to improve policy-making
in the field of financial services
Monitors the business operations of private insurance companies
FRC
Financial Reporting Council
www.frc.org.uk
UK’s independent regulator for corporate reporting and governance
FSA
Financial Services Authority
www.fsa.gov.uk
Independent body that regulates the financial services industry in the UK
FT
EFRP
ELEC
FESE
FIN-USE
www.savings-bank.com
ec.europa.eu
Association of credit & other institutions promoting & supporting housing
finance
Provides a strong industry voice on European policy issues relating to
financial services
Private sector body to assist EC in endorsement of International Financial
Reporting Standards (IFRS)
Organisation representing occupational/supplementary pension plans
throughout the EU
Promoting integration & co-operation at the institutional, economic, social,
political and cultural level, within the EU
Decision-making and co-ordination body of the European banking industry in
relation to payments
Contributes to preparation of work of Council in co-ordinating economic
policies of Member States, provides advice to Commission and Council
Represents primary dealers in the euro zone government bond market
Financial Times
www.ft.com
British financial newspaper
IAASB
International Auditing and Assurance
Standards Board
www.ifac.org/iaasb
IAIS
www.iaisweb.org
IASB
International Association of Insurance
Supervisors
International Accounting Standards Board
IFAC
International Federation of Accountants
www.ifac.org
IFRIC
International Financial Reporting
www.iasb.org/about/ifric
Serves public interest by setting high quality standards on auditing, quality
control, review, other assurance, and related services, and facilitating the
convergence of national and international standards
Represents insurance regulators & supervisors to promote development of
well-regarded insurance markets
Assumed accounting standard-setting responsibilities from its predecessor
body, the International Accounting Standards Committee
Global organization for the accountancy profession establishing and
promoting adherence to high-quality professional standards
Reviews accounting issues likely to receive divergent or unacceptable
treatment in the absence of authoritative guidance, with a view to reaching
consensus on the appropriate accounting treatment
Interpretations Committee
www.iasb.org
IIMG
Inter-Institutional Monitoring Group
ec.europa.eu
Expert group mandated to assess progress made on implementing
the “Lamfalussy process”
IMA
Investment Management Association
www.investmentuk.org
Representative body for unit trust and investment fund managers in the UK
IMF
International Monetary Fund
www.imf.org
IOPS
www.iopsweb.org
IPE
International Organisation of Pension
Supervisors
International Organisation of Securities
Commissions
Investments & Pensions Europe
LSE
London Stock Exchange
www.londonstockexchange.com
Organization working to foster global monetary co-operation, secure
financial stability, facilitate international trade and promote sustainable
economic growth
Forum for improvement of the quality and effectiveness of the supervision of
private pension systems
Co-operating to promote high standards of regulation, establishing
standards, providing mutual assistance to promote integrity of markets
Europe's premier pensions web site, providing daily news, articles, web
conferencing, white papers, links for the entire pensions community
Marketplace to the world through the buying and selling of shares
NAIC
www.niac.org
Assists US state insurance regulators in serving the public interest
www.oecd.org
SEC
National Association of Insurance
Commissioners
Organisation for Economic Co-operation
and Development
Securities and Exchange Commission
www.sec.gov
Plays a prominent role in fostering good governance in the public
service and in corporate activity
Agency responsible for administering federal securities laws in the U.S.
SEPA
Single Euro Payment Area
www.ecb.eu
Advancing European integration with a euro area retail payments market
ZKA
Zentraler Kreditausschuss
www.zentraler-kreditausschuss.de
Joint committee operated by the central associations of the German banking
industry
IOSCO
OECD
www.iosco.org
www.ipe.com
Key Terms
AMA
CRA
CSD
ECAI
EPPF
GAAP
IAS
IFRS
IRB
ISA
MAD
MiFID
QIS
UCITS
Advanced Measurement Approach
Credit Rating Agency
Central Securities Depository
External Credit Assessment Institutions
European Parliament Pension Forum
Generally Accepted Accounting Principles
International Accounting Standards
International Financial Reporting Standards
Internal Ratings Based
International Standard on Auditing
Market Abuse Directive
Markets in Financial Instruments Directive
Quantitative Impact Study
Undertakings for Collective Investment in Transferable Securities