Banking union

18-12-2018

EU lawmakers agree on a backstop for non-performing loans

European banks will have to foresee a "prudential backstop" to cover for potential non-performing loans (NPLs), the European Parliament and the Council agreed on Tuesday (18 December).
Economy & Jobs 14-12-2018

Leaders wrap up year-long euro reform with face-saving package

EU leaders concluded on Friday (14 December) a year-long discussion to bolster the eurozone by approving extra money to resolve failing banks and additional powers for the European Stability Mechanism, the EU’s rescue fund.
Economy & Jobs 13-12-2018

ECB chief Draghi downgrades economic forecast as risks persist

European Central Bank President Mario Draghi presented on Thursday (13 December) the bank's downgraded economic forecast for the eurozone for this year and next, as uncertainties and risks remain prominent in the region.
06-12-2018

Italian Enria to lead EU’s bank watchdog

The head of the European Banking Authority, Andrea Enria, will become the Single Supervisory Mechanism chief in charge of overseeing Europe’s largest banks. The Council endorsed his nomination on Thursday (6 December), concluding the process after the European Parliament also gave its green light.
Economy & Jobs 06-12-2018

EU claims stronger role for its currency despite flawed monetary union

The European Commission presented on Wednesday (5 December) a strategy to strengthen the international role of the euro days after member states continued to drag their feet to complete the economic and monetary union.
05-12-2018

European Commission wants to use euro as strategic tool

What if the euro, which is celebrating its twentieth anniversary, assumed its status as the second most important global currency? This revolutionary idea is to be discussed at the European Council next week. EURACTIV France reports.  
Economy & Jobs 04-12-2018

EU reaches limited agreement to bolster economic and monetary union 

EU finance ministers concluded a deal on Tuesday (4 December) to bolster the region with new tools to save ailing banks and member states but postponed Europe-wide instruments to protect depositors or stabilise national economies.
Brexit 26-11-2018

Brexit: an opportunity to restructure European finance?

The governor of the Banque de France, François Villeroy de Galhau, regards Brexit as an opportunity for Paris and European finance. But, for the smallest financial actors, much remains to be done before March 2019. EURACTIV France reports.  
13-11-2018

ECB to assess six Bulgarian banks as step towards Banking Union membership

European Central Bank (ECB) will conduct a comprehensive assessment of six Bulgarian banks as part of the Balkan country's bid to join the European Union's banking union, Bulgaria's central bank said on Monday (12 November).
08-11-2018

Greek banks’ foul play suspected in Bulgaria

A Greek bank bought the Bulgarian subsidiary of another Greek bank on Wednesday (7 November). The deal seems totally at odds with the terms of Greece’s bailout deal, but not only that.
02-11-2018

Europe’s top banks in EU stress test spotlight

Europe's top banks will learn on Friday (2 November) how they have fared in their latest stress test, which could require some to raise capital or shed assets, with Italian lenders expected to come under close scrutiny.
15-10-2018

EU authorities defend Popular’s resolution despite thousands of complaints

Banco Popular intervention was a success story although more than 12,000 of the Spanish bank's shareholders requested to be heard in the complaint process, the European Commission and the Single Resolution Board (SRB) said on Monday (15 October).
04-10-2018

Estonia admits over €1 trillion were laundered in the country in 2008-2017

Banks doing business in Estonia, which has been at the centre of a money-laundering scandal involving Danske Bank, handled more than $1 trillion in cross-border flows between 2008 and 2017, according to the country's central bank.
01-10-2018

Money launderers are taking EU to the cleaners, experts say

EU nations may boast the world's most stringent anti-money laundering rules, but recent scandals show that criminals are good at exploiting the bloc's Achilles' heel: a patent lack of coordination.
20-08-2018

ECB fines France’s Credit Agricole over capital reserves

The European Central Bank announced on Monday (20 August) that it had fined French lender Credit Agricole a total of €4.8 million over past irregularities in the way it declared its capital reserves, Reuters reports.
10-07-2018

Germany poses ‘real problem’ when protecting bank savers with European guarantee, says official

A senior EU official said on Tuesday (10 July) that an agreement on a European Deposit Insurance Scheme (EDIS) to protect savers across the bloc would be “very hard” given Berlin’s opposition.
09-07-2018

Draghi urges countries to complete banking union as risks fall

European Central Bank President Mario Draghi urged eurozone member states to complete the banking union with a European Deposit Insurance Scheme, noting the “substantial” reduction of risks in the banks’ balance sheets and the benefits of risk-sharing.

Kurz pledges to shield Schengen as border dispute unfolds

Austrian Prime Minister Sebastian Kurz prioritised the protection of the external borders during his country's EU Presidency stint, in order to safeguard the Schengen area, as a recent deal between Germany’s conservative parties could lead to a resurrection of the bloc's internal borders.
29-06-2018

EU leaders postpone completion of banking union

Despite previous promises to achieve results on eurozone reforms in June, EU leaders postponed until December an agreement on the backstop to wind down failing banks and did not include any date for starting discussions on a European deposit guarantee scheme.
Future EU 28-06-2018

Migration set to overshadow eurozone reform debate at EU summit

The political crises in Germany and Italy are European and revolve around the debate on migration, which is set to overshadow other issues during the European Council in Brussels, on 28-29 June. EURACTIV.fr reports.
27-06-2018

Money laundering accusations in Latvia cast doubt on ECB credibility

The Governor of the Latvian Central Bank, suspended by the Parliament, continues to face extraordinary accusations. The Commission has promised to set up a working group by the summer to tackle money laundering. EURACTIV.fr reports.
Economy & Jobs 21-06-2018

German finance minister defends euro reforms against conservative attack

Germany's finance minister on Wednesday (20 June) defended a euro zone reform blueprint agreed with France against criticism by Chancellor Angela Merkel's conservatives that it could undermine monetary stability.
25-05-2018

EU ministers reach key agreement to unlock Banking Union file

Member states have reached an agreement on a package of measures aimed at reducing risk in the banking industry. The political consensus built upon a joint proposal by the French and German Finance ministers paves the way for a deepened reform of the Economic and Monetary Union.
Economy & Jobs 24-05-2018

Commission’s bond-backed product gets lukewarm reception

Financial representatives poured cold water on Thursday (24 May) on the European Commission’s proposal to create sovereign bond-backed securities (SBBS), insisting that not all the elements exist yet for a successful market for the product.