The euro - the EU single currency

Latest news about the European Union's single currency.

ECB retains supervision over Credit Mutuel: EU Court — 14 December 2017, 14:13 CET

The major French cooperative bank Credit Mutuel remains under prudential supervision of the European Central Bank, following a ruling Wednesday by the European Court of Justice.

Profits of Europe's SMEs on the rise: ECB survey — 29 November 2017, 23:37 CET

Smaller businesses in Europe have reported increasing profits for the first time since the beginning in 2009 of a European Central Bank survey, which also reports a higher willingness of banks to lend.

New EU e-payments rules to make shopping safer — 28 November 2017, 22:58 CET

The revised payment services directive, adopted Monday by the EU Commission, is designed to provide consumers with more convenient and innovative payment solutions, whether buying in shops or online.

Payment Services Directive (PSD2): Regulatory Technical Standards — 27 November 2017, 23:31 CET

The European Commission adopted on 27 November 2017 rules designed to make electronic payments in shops and online safer. This will also allow consumers to access more convenient, cost-effective and innovative solutions offered by payment providers.

UK's EU agencies set for Amsterdam, Paris after Brexit — 20 November 2017, 23:20 CET

EU 27 ministers on Monday selected Paris as the new seat for the European Banking Authority, and Amsterdam as the new seat for the European Medicines Agency, to following Britain's exit from the EU.

Brussels pushes ahead with banking risk-reduction package — 11 October 2017, 23:53 CET

A financial system more stable and resilient to shocks will benefit citizens and businesses, the EU Commission said Wednesday as it outlined plans to accelerate completion of the EU's Banking Union.

Completing the Banking Union by 2018 — 11 October 2017, 23:25 CET

The European Commission proposed plans on 11 October 2017 to accelerate with the completion of the missing parts of the Banking Union.

EU Banking Union — 11 October 2017, 23:18 CET

The banking union ensures that EU banks are stronger and better supervised. The single supervisory mechanism gives the European Central Bank certain supervisory tasks over the EU financial system. The single resolution mechanism (SRM) is a central institution for bank resolution in the EU, and one of the pillars of the banking union. The European deposit insurance scheme is a proposed scheme to protect retail deposits in the banking union.

EU appraises bids for agencies leaving Britain after Brexit — 03 October 2017, 20:38 CET

The EU Commission published Monday its assessment of the 27 offers received from Member States to host the European Banking Authority and the European Medicines Agency - currently located in the United Kingdom.

European Banking Authority and European Medicines Agency after Brexit - Commission assessment of country offers — 03 October 2017, 18:26 CET

European Commission publishes assessment of Member State offers to host European Banking Authority and European Medicines Agency after Brexit

Greece no longer in breach of EU budget deficit rules — 26 September 2017, 23:26 CET

The European Union closed its excessive deficit procedure for Greece Monday, confirming that the country's deficit is now below 3 per cent of GDP, the EU's reference value for government deficits.

Banks must inform clients of risks of foreign currency loans: EU Court — 21 September 2017, 22:42 CET

Banks lending in foreign currencies are under an obligation to provide sufficient information to enable a borrower to take prudent and well-informed decisions, the EU's top Court ruled Wednesday.

State aid: EU approves alternative RBS plan — 19 September 2017, 00:06 CET

The EU Commission approved Monday under EU State aid rules the alternative package proposed by UK authorities to replace the commitment for Royal Bank of Scotland to divest Williams & Glyn.

23 cities bid to host UK-based EU agencies after Brexit — 03 August 2017, 22:09 CET

The EU Commission began assessment Tuesday of Member States' applications to host the two European Union agencies currently based in the UK, with 23 cities putting in bids.

EU finance ministers approve plan for bad loans — 13 July 2017, 13:58 CET

EU finance ministers at their Council meeting Wednesday approved an action plan to address the problem of non-performing loans in the banking sector, to reduce stocks and prevent their future emergence.

How EU rules apply to banks with a capital shortfall — 26 June 2017, 14:10 CET

The European Commission approved on 25 June, under EU rules, Italian measures to facilitate the liquidation of Banca Popolare di Vicenza (BPVI) and Veneto Banca under national insolvency law.

EU probes RBS alternative to Williams & Glyn sale — 04 April 2017, 22:47 CET

The EU Commission is to investigate an alternative proposal from the UK to the Royal Bank of Scotland's commitment to sell Williams & Glyn as part of its restructuring plan.

HSBC, JP Morgan, Crédit Agricole fined EUR 485m for rate rigging — 07 December 2016, 23:04 CET

Crédit Agricole, HSBC and JPMorgan Chase were fined a total of EUR 485m by the EU Commission Wednesday for their participation in the Euribor cartel in euro interest rate derivatives.

Central Counterparties Recovery and Resolution Proposal — 29 November 2016, 23:57 CET

The European Commission proposed on 28 November new rules to ensure that systemic market infrastructures in the financial system, known as Central Counterparties (CCPs), can be dealt with effectively when things go wrong.

New reforms to boost resilience of European banks — 24 November 2016, 18:42 CET

The EU Commission unveiled a package of proposals Wednesday to boost the resilience of European banks against potential shocks, and to support smaller businesses and infrastructure investment.

Euro hopefuls not yet ready to join — 08 June 2016, 16:24 CET

Of the seven countries legally committed to adopting the euro, none currently meets all the conditions for joining the single currency, says the 2016 Convergence Report, published Tuesday.

Single Resolution Board — 17 February 2016, 16:40 CET

The Single Resolution Board (SRB) is the resolution authority for the significant and cross border banking groups established within the EU's participating Member States. In the context of the Single Resolution Mechanism, it works in close cooperation with the national resolution authorities. In the newly created Banking Union the SRB cooperates with the European Central Bank, the European Commission, as well as other European and international institutions. The SRB's mission is to ensure an orderly resolution of failing banks with minimum impact on the real economy and on public finances of the participating Member States and beyond.

Single Resolution Mechanism comes into effect for EU Banking Union — 04 January 2016, 23:59 CET

The Single Resolution Mechanism (SRM) became fully operational on 1 January 2016. The SRM implements the EU-wide Bank Recovery and Resolution Directive (BRRD) in the euro area. The full resolution powers of the Single Resolution Board (SRB) also apply as of 1 January 2016.

EU Banking Union: new measures to reinforce deposit protection and further reduce banking risks — 25 November 2015, 01:25 CET

The European Commission proposed on 24 November euro-area wide insurance scheme for bank deposits and has set out further measures to reduce remaining risks in the banking sector in parallel.

European Bank for Reconstruction and Development — 05 November 2015, 21:00 CET

Since its establishment in 1991, the European Bank for Reconstruction and Development has become the largest financial investor in its region of operations which stretches from central Europe and the Western Balkans to central Asia. With the ability and willingness to bear risk on behalf of its clients, the EBRD helps their countries in the region to become open, market economies. The EBRD is owned by 64 countries, the European Union and the European Investment Bank. It provides project financing for banks, industries and businesses, both new ventures and investments in existing companies. It also works with publicly owned companies.