About: Banks
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.
The bailout business: Who profits from bank rescues in the EU?
According to a new report by Amsterdam's Transnational Institute, bailing out banks is a lucrative business in the EU.
Goldman Sachs to slash London presence due to Brexit
US bank Goldman Sachs will move 1,000 staff from London to Frankfurt as part of a post-Brexit reorganisation that will reduce its City headcount by half, German business daily Handelsblatt reported today (19 January).
JPMorgan Chase planned to buy Italy’s troubled Monte Paschi
JPMorgan Chase wanted to buy troubled Italian rival BMPS but abandoned the plan over fears it would be vetoed by US regulators and opposed in Italy, people close to the deal told AFP on Wednesday (3 July).
For citizens’ sake, play it safe with securitisation
The European Commission’s desire to boost securitisation is ringing alarm bells among academics and civil society groups. Christophe Nijdam explains why.
MasterCard international chief: ‘Brexit wouldn’t be a significant change for us’
Blockchain is expected to have a larger impact on our business than a potential Brexit, suggests MasterCard’s deputy boss, Ann Cairns. In her view, the technology behind virtual currencies like bitcoin is “a good thing for the future”, she told EURACTIV.com.
Spanish banks may have to repay billions in ‘abusive’ fixed-rate mortgages
The European Commission welcomed the end of the bailout programme for Spanish banks, but now may be putting the country’s financial stability at risk, as it seeks further action against 'abusive' mortgage clauses, it was reported on Tuesday (27 October). VideoPromoted content
Digital Transformation in Financial Services – 2015 EBF Annual Conference
European Bankers and policymakers met at the 2015 European Banking Federation’s Annual Conference to discuss the opportunities and challenges in the digital transformation in financial services.
Bank of Spain threatens to evict Catalonia from the eurozone
The governor of the Spanish central bank has weighed in on the question of Catalan independence, threatening the region with expulsion from the eurozone if it declares independence. La Tribune reports.
Regulators start Greek bank tests, aim for speedy capital boost
Greece's battered banks will undergo accelerated tests to uncover their capital shortfalls as authorities race to recapitalise the lenders by the end of the year and avoid penalising large depositors. InfographicPromoted content
Ten tips for a successful Capital Markets Union
The European Union plan for a Capital Markets Union can help unlock the latent potential in financial markets. The banking industry is ready to support this proposal.
Bankers want Juncker Plan cleared of state aid rules
European Union rules banning state aid to businesses should not apply to guarantees issued to boost investment under the three-year EU investment scheme, some of the key contributors to the plan said yesterday (13 April).
EU lawmaker seeks to dilute bank trading reform
Draft European Union rules forcing banks to isolate their risky trading activities should be eased to take national measures into account and avoid harming markets, an EU document written by a senior lawmaker has proposed.
Publishing banks’ taxes and turnover will help the economy, says PwC
EXCLUSIVE: Forcing banks in the EU to publish their turnover and taxes will help the economy, according to research for the European Commission that will strengthen the case for public disclosure of the information from next year. 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.
Commission urged to fire auditors PwC from bank transparency study
Development aid organisations today (2 July) called on the European Commission to oust auditors PwC from an impact study on country reporting for EU banks, saying the company has lobbied against the legislation and therefore has a conflict of interest. VideoPromoted content
