About: banking sector

Sven Giegold: ECB should start ‘digging into’ financial crime in Bulgaria

To join the Euro, Bulgaria needs to tidy up with financial crime, and the European Central Bank (ECB) should be doing its job and finally start “digging into this”, MEP Sven Giegold told EURACTIV in a telephone interview.
Brexit 16-04-2021

Brexit sparks £1 trillion UK assets switch to EU: study

UK banks and insurers have shifted more than £1.0 trillion to the European Union in response to Brexit, a study published Friday (16 April) found.
Economy & Jobs 14-12-2020

‘Turning the tide’: Frankfurt attracts London banks

More than four years after the vote that took Britain out of the European Union, Frankfurt is emerging the winner among EU financial capitals in attracting London's much-coveted banking business, ahead of Paris, Milan and Amsterdam.
Economy & Jobs 19-06-2020

Portugal pushes ahead with plans for state-owned development bank

Portugal's government approved on Thursday (18 June) plans to create a state-owned development bank to channel funds into certain companies and sectors to bolster the economy.
Banking union 23-05-2018

Commission to pour cold water on Bulgaria’s Eurozone ambition

Euro-hopeful Bulgaria does not yet meet the criteria to adopt the single currency, the European Commission will say today (23 May) in an assessment of European Union countries that must one day switch to the euro.
Brexit 06-02-2018

UK watchdog calls for finance pact with EU to avoid Brexit chaos

British and European Union watchdogs could sign a pact to avoid Brexit disrupting trillions of pounds in cross-border financial contracts and undermine market stability, a top UK regulator said yesterday (5 February).
Economy & Jobs 28-11-2017

UK banks could cope with ‘disorderly’ Brexit, Bank of England says

Britain’s banks could cope with a “disorderly” Brexit without needing to curb lending or be bailed out by taxpayers, the Bank of England said today (28 November) after carrying out its annual health check on lenders.
Brexit 21-11-2017

Paris celebrates the arrival of the European Banking Authority

At the end of a suspenseful day, delegates from 27 EU governments meeting in the General Affairs Council chose to relocate the European Medicines Agency to Amsterdam and the European Banking Authority to Paris. EURACTIV France reports.
Brexit 25-10-2017

German bank regulator urges EU to be ready for hard Brexit

European Union regulators need temporary fixes in place to prevent market distortions in case banks based in Britain face a Brexit without a deal, Germany's financial watchdog said.
Elections 25-10-2017

Caixabank’s move to transfer HQ is permanent, sees deposit loss

Caixabank's decision to move its legal headquarters out of Catalonia to calm investors was permanent, the lender's CEO said yesterday (24 October), saying the crisis between Spain and Catalonia had prompted some deposit outflows.
Economy & Jobs 23-02-2017

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.
Development Policy 30-01-2015

FTT launch agreed for 2016

EU states involved in the development of a Financial Transaction Tax have set a target launch date of 1 January 2016. Greece was the only participant not to sign the agreement. EURACTIV France reports
Global Europe 25-07-2014

EU sanctions to exclude Russia from capital markets

The European Union would target state-owned Russian banks vital to financing Moscow's faltering economy, in the most serious sanctions so far over the Ukraine crisis, under proposals considered by EU governments yesterday (24 July).

EU strikes deal on universal right to basic bank account

Negotiators have reached agreement over a proposed EU directive ensuring that all European citizens have access to a basic bank account, including previously excluded groups such as refugees, foreign students, and blue card holders.
Euro & Finance 29-01-2014

EU tables toothless law to tackle mega-banks

The Commission will unveil a blueprint to challenge the power of big banks today (29 January) but critics believe it will change little as it does not strictly separate multi-billion-euro market bets from savers' money.

Banking sector cuts 5,500 branches across the EU

Banks cut 5,500 branches across the European Union last year, 2.5% of the total, leaving the region with 20,000 fewer outlets than it had when the financial industry was plunged into crisis in 2008.
Euro & Finance 06-09-2012

Don’t expect political union anytime soon

More muddling-through in the EU is in the pipeline. If that wasn’t so dangerous, one could somehow live with it. But the problem with muddling-through is that it does not offer a perspective for those countries that are really suffering in this crisis. It does not create hope. Europe is in a bind, writes Jan Techau.
Economy & Jobs 10-01-2012

Alarm bells ring as banks pull out of eastern Europe

Eastern and central European countries face disappointment with capitalism on a par with their previous disillusion with communism as western European banks continue to pull back from investment in the territory. The EURACTIV network reports.
Competition 01-12-2011

Brussels eyes cap on cross-border bank fees

The EU's internal market commissioner Michel Barnier wants more transparency on fees consumers pay when making payments abroad, in a move that could replicate the approach taken with mobile phone operators whose so-called "roaming" fees were capped.
Euro & Finance 03-11-2011

The ECB’s risky business

A common currency cannot function if banking systems remain segmented along national lines, as a result the eurozone does not need an 'economic government' but an integrated banking market complete with a common supervisor, argues Daniel Gross.
Euro & Finance 20-06-2011

European banking plan to rival London’s Libor

A European banking group will this week test a new price benchmark to set the cost of interbank and corporate lending, challenging the London Interbank Offered Rate (Libor) pricing scheme and paving the way for a stronger role for continental European banks in money markets.
Euro & Finance 01-06-2011

Bankers to face steep fines under new EU code

Bankers could face fines above five million euros for rule-breaking under EU plans that would bring other European countries into line with Britain's tougher regime on regulating banks.