Banking in the European Union

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

EBRD calls for non-euro nations to join ESM bailout fund — 07 November 2012, 18:50 CET

The European Bank for Reconstruction and Development has called for the EU's proposed 'banking union' to allow non-euro countries to contribute to and borrow from the eurozone's debt bailout fund.

EU clears Cyprus bank guarantee scheme — 06 November 2012, 16:35 CET

The European Commission on Tuesday cleared a bank guarantee scheme in debt-stricken Cyprus as part of efforts to stabilise its financial sector up to the end of the year.

Foreign investors dip toes back into eurozone — 04 November 2012, 14:57 CET

Reassured by ECB anti-crisis moves, major international investors have begun dipping their toes back into the eurozone, even though they don't believe the crisis is over.

Eurozone companies see access to credit deteriorating: ECB — 02 November 2012, 12:42 CET

Small and medium-sized enterprises in the euro area expect a further narrowing of access to bank credit over the next six months, the European Central Bank found in a survey on Friday.

Dexia bank needs EUR 5-6bn recapitalisation: reports — 30 October 2012, 20:32 CET

The Franco-Belgian bank Dexia will need some "five-to-six billion euros" in recapitalisation in the next few weeks, Belgian newspapers reported on Tuesday.

Spain's Bankia logs EUR 7bn loss to September — 26 October 2012, 19:10 CET

Ruined Spanish banking giant Bankia suffered more than seven billion euros in losses in the first nine months of this year, it said Friday.

IMF lauds Spain's financial sector reforms — 26 October 2012, 18:11 CET

The International Monetary Fund said Friday that Spain had made "important progress" in reforming its financial sector, meeting all deadlines under its deal for support from the European Union.

Financial transaction tax should bring in EUR 10 bn: France — 23 October 2012, 13:23 CET

A financial transaction tax in the 11 EU states which support such a levy would probably raise more than 10 billion euros per year, French European Affairs Minister Bernard Cazeneuve said on Tuesday.

France, after Germany, backs Ireland on bank debt deal — 22 October 2012, 19:18 CET

France on Monday boosted hopes for ailing Irish banks to benefit retroactively from a new eurozone bailout fund, by repeating the German position that the crisis-hit country was a "specific case".

Ireland should be 'specific case' on bank debt: France — 22 October 2012, 17:20 CET

French President Francois Hollande said Monday that Ireland's handling of its banking debt crisis should be considered as a special case distinct from the rest of the eurozone debt crisis.

Germany, Ireland say seeking 'sustainable' debt solution — 22 October 2012, 16:59 CET

Germany and Ireland are seeking ways to help Dublin manage its debt burden, a German government spokesman said on Monday, saying that the problems of Irish banks amounted to "special circumstances".

Merkel 'playing politics' with banking union — 21 October 2012, 14:33 CET

German Chancellor Angela Merkel's challenger in next year's general election accused her Sunday of delaying moves to create a European banking union to boost her chances of staying in office.

Germany rules out direct retroactive recapitalisation of Spanish banks — 19 October 2012, 20:46 CET

German Chancellor Angela Merkel on Friday ruled out a eurozone proposal to directly recapitalise old debts run up by ailing Spanish banks, setting her country on a collision course with France on the issue.

EU banking union stokes sharp differences — 19 October 2012, 09:07 CET

EU leaders finally agreed Thursday on a calendar for setting up a banking union after a Franco-German spat held up agreement on exactly when this key crisis-fighting tool might come into force.

World's oldest bank contests Moody's sovereign downgrade — 18 October 2012, 17:13 CET

Banca Monte dei Paschi di Siena, the world's oldest bank still in business, has contested a credit rating downgrade by Moody's to "junk" status saying its financial situation was solid.

Czech leader says cannot vote for banking union as stands — 18 October 2012, 17:04 CET

Czech Prime Minister Petr Necas said Thursday he could not vote for the sort of banking union being pushed by French President Francois Hollande at a summit of European Union leaders.

Germany, Sweden say don't rush EU bank supervision — 16 October 2012, 22:25 CET

The leaders of Germany and Sweden said Tuesday they agreed that the European Union should not rush into a new system to police the banking sector, calling for effectiveness over haste.

European bank supervision plan needs more work: Berlin — 15 October 2012, 19:26 CET

A blueprint for a European banking supervisory system to be set up to help counter the eurozone crisis is not ready for a decision by EU leaders this week, the German government spokesman said Monday.

Spain hopes for EU summit progress — 15 October 2012, 13:29 CET

Spain said Monday that it hoped EU leaders would make rapid progress at a summit later this week to pave the way for a direct recapitalisation of the country's troubled banking system.

Santander calls off EUR 2bn deal to buy RBS branches — 13 October 2012, 12:12 CET

Spanish lender Santander on Friday pulled out of a GBP 1.65 billion deal to buy 316 branches from Royal Bank of Scotland, in a blow to the state-rescued British bank.

IIF calls on EU to slash rates on loans to Greece — 04 October 2012, 22:17 CET

The global banking lobby IIF on Thursday called for the European Union to slash the interest rate on its rescue loans to Greece to give it room to get its economy back to growth.

EU banks raise EUR 200 bn capital buffer — 03 October 2012, 21:28 CET

Major European banks raised more than 200 billion euros of fresh capital between December and June to cushion against future financial crises, the EU's banking regulator said on Wednesday.

Banks must 'separate deposits from high-risk trades' — 02 October 2012, 14:15 CET

Banks would have to separate consumer deposit-taking from high risk trading for the financial sector under EU reforms proposed by the governor of the Bank of Finland, unveiled Tuesday.

French president calls for strict rules on banking union — 01 October 2012, 23:42 CET

French President Francois Hollande said on Monday that that a European banking union should be governed by "very precise rules" after meeting with Swedish Prime Minister Fredrik Reinfeldt.

Berlin, Paris and Warsaw urge rapid EU banking supervision — 01 October 2012, 23:43 CET

European affairs ministers of France, German and Poland on Monday in Warsaw underscored what they termed the urgent need to create an EU-wide mechanism for banking supervision.