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The euro - the EU single currency

Latest news about the European Union's single currency.

Crucial day for the pound as May faces cabinet showdown - Euro currency news daily
It's another big day for the pound today. Inflation data is due at 9:30 followed by the Brexit Cabinet meeting at 2pm. Market participants are expecting the Cabinet to approve the draft, although are less sure about Parliament.

EU states ease rules for dealing with bad loans
EU Member States agreed a softer position Wednesday on capital requirements applying to banks with non-performing loans (NPLs) on their balance sheets, in preparation for talks with the EU Parliament.

Non-performing loans (NPLs)
EU and national authorities are joining forces to address the risks related to high stocks of NPLs in Europe. Non-performing loans, or “NPLs”, are bank loans that are subject to late repayment or are unlikely to be repaid by the borrower.

European banks offer fees transparency from 31 Oct
New EU rules for banks and financial services providers, in force from 31 October, require them to be more transparent and open about the fees they charge related to opening and maintaining bank accounts.

Access to bank accounts
EU rules allow consumers to open and change bank accounts anywhere in the EU. The directive on payment accounts gives people in the EU the right to a basic payment account regardless of a person's place of residence or financial situation. The directive also improves the transparency of bank account fees and makes it easier to switch banks.

Progress in the Reduction of Non-Performing Loans in Europe
The European Commission has welcomed the headway made in tackling non-performing loans (NPLs) in the EU as part of ongoing work at the national and EU level to reduce remaining risks in parts of the European banking sector.

ECB retains supervision over Credit Mutuel: EU Court
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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.