Banking in the European Union

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

Moody's downgrades Commerzbank, other German banks — 06 June 2012, 14:29 CET

Credit rating agency Moody's on Wednesday lowered its ratings for six German banks pointing to "the increased risk of further shocks emanating from the euro area debt crisis."

German banks prepared for any scenario on Greece: regulator — 05 June 2012, 14:40 CET

German banks are "prepared for all possible scenarios" with regard to Greece even if their exposure remains "limited", the country's financial watchdog BaFin said on Tuesday.

EU 'doubts' Dexia state aid valid but gives more time — 31 May 2012, 18:17 CET

European Union competition authorities expressed doubts Thursday whether billions of state aid awarded to failed bank Dexia by Belgium, France and Luxembourg will turn out to be legal.

EU urges Spain to spell out Bankia rescue — 31 May 2012, 23:17 CET

The European Union pressed Spain on Thursday to urgently clear up doubts over its mammoth rescue of stricken lender Bankia so as to calm markets fearing a financial breakdown.

EU may give Spain more time to cut deficit: source — 30 May 2012, 11:12 CET

The European Commission may recommend giving crisis-struck Spain an extra year to meet its public deficit target but tough conditions would be tied to the reprieve, an EU source said on Wednesday.

Slovenia, Croatia play down bank savings row — 15 May 2012, 15:27 CET

Slovenia and Croatia played down media speculations Tuesday that an old dispute over bank savings has erupted again, insisting it would not affect Zagreb's planned 2013 entry into the EU.

Slovenia demands Croatian explanation over savings row — 03 May 2012, 22:17 CET

Slovenia on Thursday called on Croatia to explain its reluctance to meet commitments made during the Croatian bid to join the European Union to end a bank savings row.

Lloyds receives new bid for 632 British bank branches — 12 April 2012, 17:37 CET

Britain's state-rescued Lloyds Banking Group on Thursday said it had received a fresh bid for the 632 bank branches it has been ordered to sell by EU competition regulators.

EU opens probe into sale of Dexia bank unit in Luxembourg — 03 April 2012, 13:47 CET

The European Commission has launched an in-depth investigation into the sale of the Luxembourg unit of fallen Franco-Belgian bank Dexia to an investor linked to the Qatari royal family, the EU said on Tuesday.

World's oldest bank posts EUR 4.69 bn loss for 2011 — 29 March 2012, 15:26 CET

Italy's Banca Monte dei Paschi di Siena, the world's oldest bank, on Thursday unveiled a loss of 4.69 billion euros for 2011 due to "extraordinarily difficult" conditions after making a profit in 2010.

Greece clinches debt deal, clears way for bailout — 10 March 2012, 20:16 CET

Greece took a critical step Friday towards avoiding bankruptcy with a world-record debt write-off deal crucial for the country's second massive bailout from the IMF and the European Union.

Switzerland blocks funds of wealthy Greek — 24 February 2012, 16:47 CET

A Swiss banking source said Friday that Greek authorities have requested the blocking of about 160 million euros ($215 million) deposited in a Zurich fund manager by a Greek businessman.

The eurozone-IMF rescue for Greece: the main points — 21 February 2012, 20:26 CET

The debt rescue agreed on Tuesday to save Greece from defaulting on March 20 and to keep it in the eurozone, is in the form of a complex package potentially worth 237 billion euros in all.

List of Greek debt held by big European banks and insurers — 21 February 2012, 09:52 CET

Leading European banks and insurance companies held the following amounts of Greek debt on the basis of data, provided by the institutions themselves and valid at the end of September, except where indicated with an asterisk.

List of Greek debt held by big European banks and insurers — 14 February 2012, 14:52 CET

Leading European banks and insurance companies hold the following amounts of Greek debt.

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.

Capital requirements directive revision - guide — 20 July 2011, 17:54 CET

Banks have been at the centre of the financial crisis the global economy is facing since 2008. Lessons have been drawn from this and mistakes of the past should not repeat themselves. This is why the European Commission has brought forward today proposals to change the behaviour of the 8000 banks that operate in Europe The overarching goal of this proposal is to strengthen the resilience of the EU banking sector while ensuring that banks continue to finance economic activity and growth.

Access to a basic payment account - guide — 19 July 2011, 00:28 CET

According to recent studies, around 30 million consumers over the age of 18 in the European Union do not have a bank account. Out of these 30 million 'unbanked' citizens, it is estimated that between 6 and 7 million do not have a bank account because they have been denied access to one. These individuals cannot currently benefit fully from the Single Market. Today's Recommendation from the European Commission on access to a basic payment account will promote financial and social inclusion for consumers across Europe. The Commission invites Member States to ensure that such accounts become available at a reasonable charge to consumers, regardless of their country of residence in the EU or their financial situation. It will assess the situation in one year's time and propose any further measures as necessary, including legislative measures.

2010 EU-wide stress testing exercise — 23 July 2010, 18:57 CET

Further to its statements issued on 18 June, 7 July and 19 July 2010, the Committee of European Banking Supervisors (CEBS) has released its summary report on the results of the EU-wide stress test exercise. A Q&AS paper jointly prepared by CEBS, ECB and European Commission is also published.

Committee of European Banking Supervisors (CEBS) — 22 July 2010, 13:19 CET

The Committee of European Banking Supervisors (CEBS) gives advice to the European Commission on policy and regulatory issues related to banking supervision. It also promotes cooperation and convergence of supervisory practice across the European Union, especially through the development of guidelines and recommendations, addressed both to credit institutions and national supervisors. In addition, CEBS contributes to the consistent implementation of these guidelines and recommendations through trainings etc and promotes a common application of Community legislation through peer reviews and other tools. Since 2009, CEBS has been tasked to provide regular bank sector analysis and perform assessments on risks, vulnerabilities, etc on the banking sector and reports its outcomes periodically to the EU political institutions.

Euro-MPs call for more EU powers in the financial sector — 22 June 2010, 23:24 CET

The European Parliament's Economic Affairs Committee passed today two resolutions, calling for legislation on remuneration in the financial service sector and on the management of cross-border banking crises.

Euro-MPs propose amendments to the European Banking Authority establishment — 16 April 2010, 23:48 CET

MEPs published yesterday draft amendments to the proposal on establishing a European Banking Authority (EBA). The EBA is a part of the proposed EU institutional framework for financial supervision.

EU Court upholds Commission decision on State aid for banks — 10 March 2010, 00:48 CET

The EU General Court has upheld the Commission's decision which stated that the two investment funds that Landesbank Hessen-Thüringen received in1998 from the state were made available to underpin its competitive business, and hence could not be classified as State aid.

Capital Requirements Directive ('CRD IV') - public consultation — 28 February 2010, 00:19 CET

The European Commission has launched a public consultation on further possible changes to the Capital Requirements Directive (CRD) aimed at strengthening the resilience of the banking sector and the financial system as a whole. The proposed changes, known as 'CRD IV', following two earlier Commission proposals amending the CRD, relate to seven specific policy areas, most of which reflect commitments made by G20 leaders at summits in London and Pittsburgh during 2009. These commitments included building high-quality capital, strengthening risk coverage, mitigating pro-cyclicality and discouraging leverage, as well as strengthening liquidity risk requirements and forward-looking provisioning for credit losses. All interested stakeholders are invited to reply to the consultation by 16 April 2010, indicating what impact the potential changes would have on their activities. The results will feed into a legislative proposal scheduled for the second half of 2010.

Commission decisions on KBC, ING and Lloyds - briefing — 19 November 2009, 12:02 CET

The European Commission on 18 October approved the restructuring plan of Lloyds Banking Group, the ING restructuring plan and illiquid asset back-up facility, and the asset relief and restructuring package for KBC.