Banking Publications


Global Spotlight:


Handbook for the preparation of annual accounts of banks under Luxembourg accounting framework

The Luxembourg accounting regulations for credit institutions have been largely amended since the 2004 version of this publication. This updated version that includes the developments introduced by the Law of 16 March 2006 will enable the management of credit institutions to effectively handle the legal requirements when preparing their annual accounts.


Commitments to doing more business globally are accelerating in 2012, despite economic, regulatory and other uncertainties. CEOs see the fundamentals for future growth still squarely in place.
To understand how businesses are preparing for growth in their priority markets, we surveyed 1,258 CEOs based in 60 different countries and talked to a further 38 CEOs face-to-face for our 15th Annual Global CEO Survey. "Delivering results: Growth and value in a volatile world" explores CEO confidence in prospects and, how they are building local capabilities and creating new networks for new markets.


Depositary Bank compliance check

As a response to the financial crisis, the EU has launched several regulatory initiatives impacting the depositary banks. While the AIFMD and UCITS V will largely focus on a re-cast in safekeeping liability and oversight duties, other indirect consequences for the depositary bank will stem from the new rules on derivatives trading and collateral management under EMIR. It's now the right time to act and reposition within this new environment.


Banking in Luxembourg

Banking in Luxembourg is designed to provide foreign bankers with basic insights into the structure of the banking industry in Luxembourg together with the legal, regulatory, accounting and tax framework. Also summarised are the requirements for setting up a new banking operation and the various audit requirements.
This guide has been prepared by auditors, tax and business advisers, who are members of the banking group of PwC in Luxembourg.
Every effort has been made to make sure that the information provided in this guide is accurate. In view of its purpose, the reader will appreciate that PwC Luxembourg is unable to accept any liability for any errors or omissions included therein.


Gesetz vom 5. April 1993 über den Finanzsekto

Aktualisierung 2011 – beinhaltet die Änderungen laut Gesetz vom 20. Mai 2011 über die Tätigkeiten von E-Geld-Instituten.
 


Payment institutions and e-money institutions in Luxembourg

The Law of 10 November 2009 originally transposed in Luxembourg law the European Directive 2007/64/EC i.e. the Payment Services Directive, or PSD. This directive, which provides a European legal framework for the performance of payment services, is one of the main instruments that paved the way for the emergence of the Single European Payments Area (SEPA).
As for the electronic money, the European Directive 2000/46/EC on the business of e-money institutions was adopted in response to the emergence of new prepaid electronic payments products
The Directive 2009/110/CE, building on the achievements of the PSD, modernises and adapts the legal framework applicable to e-money institutions. The Luxembourg Law of 20 May 2011 modifying the Law of 10 November 2009 transposes the new Directive 2009/110/EC on electronic money.
 


Wir können (fast) alles - und auch deutsch

Diese Broschüre wurde in deutscher Sprache verfasst, weil wir damit unsere Geschäftspartner ganz gezielt auf unsere deutschsprachige Beratungskompetenz hinweisen möchten. Wir denken, es macht Sinn, Ihnen zu zeigen, was wir alles können, wer was macht und wer für Sie als Ansprechpartner zur Verfügung steht. Und richtig, wir freuen uns, dass wir Ihnen in diesem Segment so viele Mitarbeiter mit unterschiedlichen Fachkompetenzen vorstellen können.


Trading blocs

This report provides perspectives on the recent trends affecting M&A activity within the global stock exchange sector, focusing on potential future developments within the emerging markets.


2011 Global Private Banking and Wealth Management Survey

The status quo in the private banking and wealth management industry is changing as the focus shifts to client service and value delivery, according to our 2011 Global Private Banking and Wealth Management survey -Anticipating a New Age in Wealth Management. New competitors are challenging the dominance of established firms, and the impact of new regulations and more demanding client expectations are forcing private banks and wealth managers to change their client service infrastructures and the way they operate. Those who can master change will be in a position to lead the industry and we believe that clear industry leaders and losers will emerge by the middle of this decade.


Auswertung der Jahresabschlüsse 2010 der deutschen Eurobanken in Luxemburg

Die vorliegende 28. Auswertung der Jahresabschlüsse der deutschen Eurobanken in Luxemburg haben wir anhand der veröffentlichten Jahresabschlüsse erstellt.

Unsere Auswertung soll - in Kenntnis der zum Teil nur noch bedingt vergleichbaren Geschäftsmodelle der Banken - eine vergleichende Übersicht über die Entwicklung der Bilanz- und GuV-Strukturen der deutschen Tochterbanken in Luxemburg im Jahr 2010 ermöglichen.


Private Banking Challenge

Over the last years, the business environment of Private Banking in Luxembourg has deeply changed and has become far more challenging: the regulatory pressure has grown heavier, domestic and cross-border competition has increased, customers have changed and now need experts.
 
 
Meeting reporting deadlines

Luxembourg corporations are required to meet several reporting deadlines, e.g. CSSF, commercial law, corporate tax, VAT, human resources, and personal tax. Meeting reporting deadlines, Professionals of the Financial Sector outlines some of the more common compliance requirements to be considered at this time of year.
 
 
Similarities and Differences - IFRS and Luxembourg Banking GAAP

International Financial Reporting Standards (IFRS) are gaining momentum. The globalisation of business and finance has inevitably led to calls for a common set of highquality, global accounting standards. IFRS has been successfully adopted in almost a hundred countries over the last couple of years.
This publication has been designed to provide the reader with a general comparison between Generally Accepted Accounting Practices in force in the Luxembourg banking sector as provided by the law of 17 June 1992, as amended, and the standards and interpretations currently forming the IFRS accounting framework, as adopted by the European Union.
 

In light of the recent international tax developments, there has been a trend towards increased transparency and more stringent reporting and accountability requirements. As a consequence, more and more Luxembourg banks are developing new services to help their clients declare their income in their country of residence.
 

The goal of this report is to provide a sense of purpose shared by all the Luxembourgish stakeholders of the private banking sector and guidance for the development of coherent capacities to sustain the cluster in the long-term.
 

This guide is designed to provide a basic insight into the structure of the Professionals of the Financial Sector (“PFS”) industry in Luxembourg together with the legal, regulatory, accounting and tax framework. Also summarised are the requirements for setting up a new business operation and the various audit requirements. This guide has been prepared by auditors, tax and business advisors, which are members of the banking group of PricewaterhouseCoopers in Luxembourg.