About: Banks
The ‘Big Package’: How Russia was driven to default
Russia's first major international debt default in over a century, which Washington said became a fact on Monday (27 June), follows months of co-ordinated Western sanctions that left Moscow with cash but no access to the international financial network.
Russians have up to $213 billion stashed offshore in Swiss banks
Switzerland's secretive banks hold up to $213 billion of Russian wealth, the country's financial industry association estimates, as sanctions on Russia give a rare glimpse inside Swiss vaults.
US sanctions Russia for ‘beginning’ invasion of Ukraine
US President Joe Biden announced tough new sanctions on Russia for "beginning" an invasion of Ukraine but said there was still time to avoid war, even as Vladimir Putin signaled plans to send troops beyond Russia's borders.
US says Taliban talks in Doha were ‘candid and professional’
The United States said the first face-to-face meeting between senior US and Taliban officials since the hardline group retook power in Afghanistan was "candid and professional" and that the Taliban would be judged on their actions, not just their words.
European banks active in tax havens despite scandals
European banks have not reduced their presence in tax havens, despite several scandals that have revealed the dubious practices multinationals use to avoid taxes, according to a study published on Monday (6 September).
EU to propose Anti-Money Laundering Authority
The European Union will propose a new agency to crack down on money laundering and new transparency rules for transfers of crypto-assets, EU documents showed as the bloc responds to calls for tougher action to fight dirty money.
Regulators maintain call for prudence in bonuses and dividends payout
Regulators are urging banks and insurance companies to exercise caution in handing out dividend payments to shareholders and bonuses to employees, as Europe continues to struggle to cement its recovery from the Covid pandemic.
Banks in EU should publish yardstick of ‘green’ activity, says watchdog
Banks in the European Union should publish a "green asset ratio" (GAR) as a core measure of their climate-friendly business activities, the EU's banking watchdog proposed on Monday (1st March).
Pandemic cuts bank profitability to record lows
European banks face major losses from bad loans and other costs caused by the COVID-19 pandemic, and their profitability is at record low levels, the European Banking Authority warned in a report published on Friday (11 December).
Job cuts at Deutsche Bank are just the tip of the iceberg
Deutsche Bank will withdraw from its global equity business and cut 18,000 jobs over the next three years. This is part of a bigger trend: investment banks are looking more towards the US, which can sometimes be problematic for Europe. EURACTIV Germany reports.
Austrian chief economist: ‘A lot can still be done to complete the euro zone’
The Austrian national bank (OeNB) hosted its annual conference on 20 years of the euro on 2 and 3 May. In an interview with EURACTIV, the bank's chief economist explains how the euro zone debt crisis changed the economic "tool box" of the EU currency and spells out the challenges ahead.
Croats increasingly pull money from bank savings to avoid tax
Croatian citizens and entrepreneurs that keep their money in current and giro accounts, rather than in savings, are growing in number at historically high rates. Bundles of banknotes are more and more common in house vaults, socks and mattresses. EURACTIV Croatia reports.
Italy’s populist leaders pledge to replace central bank’s top brass
Italy's populist leaders on Saturday (9 February) promised to replace top officials at the country's central bank, who they said must pay for failing to prevent a spate of banking scandals in which thousands lost their savings.
90% of major European banks already sanctioned for money laundering
According to a British report, 18 of the 20 leading European banks, including four French ones, have already been sanctioned for money-laundering offences over the past decade. EURACTIV France’s media partner La Tribune reports.
BNP Paribas: A rudderless juggernaut?
In a thorough and critical documentary, two filmmakers raise questions about the disproportionate power of BNP Paribas, one of Europe’s largest banks. The documentary is a case study calling into question the credibility of European banking regulation. EURACTIV France reports.
ECB admits negative effect of monetary stimulus on German and Spanish banks
Amid growing concerns about the profitability of eurozone banks, the ECB said that the monetary decisions adopted after the financial crisis had a neutral effect on the money houses of the single currency area, except for German and Spanish lenders.
Paris ahead of Frankfurt for Brexit City jobs
While banks in London have drastically scaled back their post-Brexit relocation estimates, they are now favouring France to Germany, according to a survey led by Reuters. EURACTIV’s partner La Tribune reports.
Consumers hail proposal to limit transaction costs in EU
The European Commission’s proposals to limit transfer costs to non-euro members and currency conversions abroad were welcomed by consumer and transparency activists, although NGOs complained that it would not benefit migrants’ remittances.
Banks should charge customers higher fees, says ECB
Banks should increase fees and commissions to customers to survive in the low interest rate environment, the ECB has argued in a new report.
Grim scenario for bank stress tests, says EU watchdog
The European Banking Authority has launched its third wave of stress tests conducted on 48 European banks. EURACTIV's partner La Tribune reports.
Thousands protest in Barcelona against Catalan independence
Hundreds of thousands of people took to the streets of Catalonia's capital Barcelona on Sunday (8 November) to express their opposition to declaring independence from Spain, showing how divided the region is on the issue.
Frankfurt and Dublin make bankers feel wanted in battle for Brexit jobs
"I'm here to send you the regards of the Federal Chancellor. I am entitled to tell you we want you in Germany." This private message from Angela Merkel, delivered by a regional politician to Wall Street bankers last year, is having the desired effect.
French senator: ‘All the ingredients of a new financial crash are in place’
Ten years after the sub-prime mortgage crisis threatened to destroy the global financial system, conditions in France are ripe for another financial crash, according to a recent senate report. EURACTIV’s partner La Tribune reports.