Banking in the European Union

Latest business news and information covering the EU's banking sector.

EU agrees new rules to police derivatives market — 09 February 2012, 22:27 CET

EU government and parliament negotiators have struck a deal to impose new rules on the multi-trillion-euro derivatives market, an obscure instrument maligned for helping cause the global financial crisis.

EU authority satisfied with bank recapitalisation plans — 09 February 2012, 21:06 CET

The EU banking regulator said Thursday that recapitalisation plans drawn up by European banks were sufficient to achieve new capital requirements without hurting lending to the real economy.

UN trade chief defends transactions tax — 07 February 2012, 19:02 CET

UN trade and development chief Supachai Panitchpakdi on Tuesday defended the introduction of a European financial transaction tax.

General strike hits Greece, EU raises pressure on debt — 07 February 2012, 15:03 CET

A general strike gripped Greece on Tuesday in protest against new austerity measures demanded with increasing urgency by the European Union as part of a debt rescue deal with banks.

Dutch central bank against financial transaction tax — 06 February 2012, 19:16 CET

The Dutch central bank said Monday it opposed plans for a financial transaction tax in the EU as it will cost banks, pension funds and insurers in the Netherlands billions of euros and discourage growth.

EU ramps up pressure on Greece as timetable slips — 06 February 2012, 20:51 CET

Embattled Greek Prime Minister Lucas Papademos faced growing EU pressure Monday to quickly agree tough austerity measures in a new bailout but talks with his coalition partners on the deal were delayed.

EU regulator 'impressed' with banks on recapitalisation — 06 February 2012, 16:47 CET

The EU banking regulator said Monday that it was "impressed" with the willingness of European banks to meet new recapitalisation demands, ahead of a progress update due this week.

Strain shows in Greek coalition ahead of fresh debt talks — 06 February 2012, 11:20 CET

Leaders of Greece's ruling coalition were steeling themselves for fresh talks Monday after objections to another round of spending cuts stalled progress on clinching a critical debt rescue package.

Greece forces overtime in critical debt talks — 05 February 2012, 22:57 CET

Greece on Sunday insisted on extending critical talks on a debt rescue into Monday, as the government's coalition backers denounced pressure from public creditors to pass harsher austerity measures.

Greek leaders in emergency meeting for debt deal — 05 February 2012, 20:53 CET

Greek Prime Minister Lucas Papademos held an emergency meeting with political allies on Sunday after hours of "superhuman" negotiations with EU-IMF bailout auditors failed to produce a rescue deal.

Judgement day for Greek default rescue — 05 February 2012, 14:51 CET

Greek PM Lucas Papademos summoned political allies to an emergency meeting on Sunday after hours of "superhuman" negotiations with EU-IMF bailout auditors failed to produce a rescue deal.

24 hours to clinch Greek bankruptcy-saving deal — 04 February 2012, 22:43 CET

Greece has one day left to clinch a eurozone bailout and a bond swap with creditors to manage its crushing debt repayments, its finance minister said Saturday, warning that talks were "on a knife edge."

Pressure mounts on Greece as marathon rescue talks resume — 04 February 2012, 22:39 CET

Greece is to resume marathon talks with European and IMF officials on Saturday as negotiations to produce a bailout deal for its crisis-hit economy by next week reached a climax.

Eurozone ministers to discuss Greece amid bailout deadlock — 04 February 2012, 12:41 CET

Eurozone finance ministers were to confer by telephone on Saturday after 12 hours of talks in Athens failed to produce a breakthrough on a deal to bail out Greece.

Spain launches EUR 50bn bank reform — 03 February 2012, 16:44 CET

Spain's conservative government Friday launched a major clean-up of the country's troubled banks, approving a law that obliges them to set up a financial safety net totalling 50 billion euros.

Spain unveils EUR 50bn bank sector clean-up — 02 February 2012, 19:49 CET

Spain's government unveiled reforms Thursday that will oblige banks to clean up their bad loans by building up provisions and capital reserves totalling 50 billion euros.

EU mulling lighter lending rules for banks: report — 02 February 2012, 10:44 CET

The European Union is mulling lighter rules on banking reserves in a development that could see regulators stand accused of buckling to industry pressure, the Wall Street Journal reported Thursday.

Banks set to double borrowing from ECB: report — 31 January 2012, 11:56 CET

European banks plan to borrow at least twice as much money from the European Central Bank next month as they did in December, the Financial Times reported Tuesday, which would bring the sum to around one trillion euros.

French banks would come to Britain to avoid tax: Cameron — 31 January 2012, 10:13 CET

British Prime Minister David Cameron took a fresh dig at cross-channel rival France Monday, warning that French banks would flee to Britain if Paris introduces a financial transactions tax.

EU breaks impasse on derivatives regulation — 24 January 2012, 20:25 CET

European finance ministers broke an impasse Tuesday in regulation of the multi-trillion-euro trade in over-the-counter (OTC) financial derivatives.

Nervous banks park record sums at ECB — 18 January 2012, 12:59 CET

Crisis-hit eurozone banks parked a record 528.18 billion euros ($675.60 billion) overnight at the European Central Bank, data showed on Wednesday, suggesting the crucial interbank market is clogged.

Banks' deposits at ECB hit another record high — 17 January 2012, 18:28 CET

Banks' deposits with the European Central Bank have hit yet another record, data showed Tuesday, suggesting ongoing tension in the financial system despite unprecedented liquidity injections.

Banks' deposits at ECB hit another record — 16 January 2012, 14:20 CET

Banks' deposits with the European Central Bank have hit yet another record, data showed Monday, suggesting ongoing tension in the financial system despite unprecedented liquidity injections.

Greece and Europe belong together, says German minister — 15 January 2012, 22:37 CET

Greece and Europe belong together, Germany's foreign minister said Sunday after meeting the debt-crippled country's leaders ahead of a week of tough talks for Athens with its creditors.

German FM in Athens holds crisis talks with top officials — 15 January 2012, 19:22 CET

Germany's foreign minister met Greek Prime Minister Lucas Papademos on Sunday to discuss the financial crisis, ahead of more tough talks this week between debt-crippled Greece and the eurozone.