About: banking industry
Brexit financial services deal will be difficult
The industry has accepted that so-called “passporting” rights will not be possible after Britain leaves the EU. The concept of “equivalence” has been mooted as a solution but even agreeing to that will be difficult, writes Mark Boleat.
On finance, ‘Think Sustainability First’
‘Think Sustainability First’ must be a principle that guides financial policymaking through this decade and the next if Europe is to have the means to match its global ambitions, writes Arlene McCarthy.
Italy coughs up €17bn to deal with two troubled banks
Italy will pay up to €17 billion to break up two insolvent Venetian banks, which have posed a threat to the country's banking system, the government announced Sunday (25 June).
Britain could lose 4,000 Deutsche Bank jobs over Brexit
Deutsche Bank could move up to 4,000 jobs away from Britain, the group's compliance chief said Wednesday (26 April), as Germany's largest lender struggles to work out the consequences of Brexit.
The bailout business in the EU
Since the 2008 financial crisis broke out, more than €1.5 trillion in taxpayer money has been used to rescue ailing banks in Europe, according to the European Commission. Citizens shouldn’t grow accustomed to this, writes Sol Trumbo Vila.
The failure to police the EU’s financial border is a security weakness
Whilst EU leaders and policymakers have struggled to maintain the security of the EU’s external physical border, the financial border is wide open to all. At a time of focus on the funding of EU extremism from third countries this is a worrying weakness, writes Tom Keatinge.
RBS, Credit Suisse recommend buying Greek debt
It is barely two weeks since Greece was on the brink of crashing out of the euro, yet some investment banks are now encouraging investors to return to its bond market.
How to lift Greece’s capital controls?
It is a headache Greece's government does not need right now - how can it loosen the capital controls that are shielding its banks, but strangling the rest of the economy?
Lawmakers fail EU plans to split up large banks
Deep divisions between political groups in the European Parliament are set to sink reforms aimed at preventing banks from being “too big to fail”, a key political objective following the 2008 financial crisis.
Italian finance minister eyes ‘bad bank’ to clean up risky loans
Italy is considering setting up a state-backed "bad bank" to help clean up its banking sector, Pier Carlo Padoan said in a newspaper interview on Sunday.
British banking trade groups eye merger to bolster EU lobbying
Banks have told nine trade associations in Britain they should merge into a single body to strengthen lobbying in Europe and slash membership costs. VideoPromoted content
Banking For The Future – 2014 EBF Annual Conference
The annual conference of the European Banking Federation is a landmark Brussels event discussing key developments in the European banking sector. The conference brings together chief executives from leading European banks with EU-level regulators, policy-makers, and other stakeholders in Europe’s economy at large. VideoPromoted content
Banks as tax collectors? EBF-FBF Tax conference reviews FTT, CRS
The 2014 international tax conference of the European Banking Federation, held on Monday in Paris, has reviewed Sunday’s endorsement by G20 Finance Ministers of the Common Reporting Standard (CRS) that the Organisation for Economic Cooperation and Development (OECD) proposed as a model for a global Automatic Exchange of Information. http://www.ebf-fbe.eu/wp-content/uploads/2014/09/EBF_010514-EBF-Tax-Conference-reviews-progress-on-Common-Reporting-Standards.pdf The conference was an opportunity for the EBF to express its concerns about the CRS: its lack of proportionality, the crucial need for consistency across jurisdictions and for full EU-OECD alignment, the need for a proper examination of all legal and constitutional implications, notably in the field of data protection, and the need for the immediate creation of a review process. The CRS model will require financial institutions to automatically exchange detailed account information with tax authorities in their country. In addition the conference discussed the impact of a possible tax on financial transactions, known as FTT. This tax threatens to introduce regulatory and tax uncertainty in the 11 EU Member States that are currently considering it and risks damaging economic growth in Europe as whole.
Banking sector’s contribution to growth ‘nil or negative’, EU advisors say
Europe's banking sector is bloated and takes at least as much out of the economy as it adds, academic advisers to Europe's early warning financial risk body said in a report published on Monday.
Greens vow to push for bank ring-fence after EU elections
SPECIAL REPORT / The European Greens will push for a compulsory ring-fence between banks' riskier investment banking and retail activities, such as mortgages and lending to small businesses, after the European elections.