European Commission (EC)
European Commission pushes for Sepa deadline extension
Michel Barnier defies the Eurosystem by pushing for a six-month extension to the February 1 deadline for migration to the Single Euro Payments Area
ECB working paper finds indebted countries should pursue austerity at ZLB
Model seeks to incorporate effects of government debt when examining how to tackle a liquidity trap at the zero lower bound
EU bail-in to start two years early after Parliament and Council reach agreement
Bail-in rules, expected only from January 2018, will now enter force in January 2016; public bail-outs remain on the table as a last resort
ECB faces parliamentary grilling on Troika track record
Senior managers from European Central Bank and European Commission defend the accountability and forecasting track record of the Troika in European Parliament hearing
Barnier says UK ‘on board' with EU banking legislation
French EU commissioner once dubbed ‘the most dangerous man in Europe' by the UK press says winning British agreement over banking sector reform is a ‘point of credibility'
EC's Pearson urges US and European regulators to ‘talk the same language'
European Commission's financial markets head tells US and European regulators to find common ground on the technical details of their reform programmes; Cyril Roux backs greater cooperation
European Parliament greenlights SSM
Lawmakers vote to put the ECB in charge of supervising Europe's biggest banks, as focus turns to arduous process of establishing single resolution mechanism
Finance ministers set to tackle bank resolution at Ecofin conference
Key policy-makers will gather in Lithuania Friday and Saturday to discuss European Commission's controversial proposal on resolution mechanism for failing banks
G-20 leaders vow co-operation to avoid monetary policy spillover
St Petersburg summit sees IMF concede advanced economies are now the major engines of global growth; European banking union is a top priority in the G-20's joint ‘action plan'
European Commission launches shadow banking onslaught
Commission looks to impose more stringent liquidity and capital requirements on money market funds; industry body hits out at 'ill-considered' proposals
Weidmann slams Europe's stability pact relaxation
Exceptions made for four members of the eurozone earlier this year were inappropriate, Bundesbank president says; making the rules more binding is the only way to stronger monetary union
Bank of England's prudential regulator consults banks on capital requirements
The UK's Prudential Regulatory Authority wants to hear from financial institutions about the best way to implement Europe's new CRD IV legislation
Cyprus gold still in play to help fund troika bailout
First review finds good progress made in repairing the Cypriot financial sector; central bank will take on a wider supervisory role but may have to sell gold to contribute to the country's bail-out
European Commission floats proposal to cap fees on credit card transactions
EC says retailers will make big savings by paying lower fees to their banks, and consumers will benefit through lower retail prices as a result of new regulation
ECB's Cœuré welcomes commission proposal on Single Resolution Mechanism
Speaking in Paris, Cœuré says ‘strong central authority' needed as fundamental complement to the SSM
European Commission releases 'radical' proposal to appoint itself resolution arbiter
Single Resolution Mechanism proposal would see the European Commission retain control over whether banks are resolved; argues this would be legal under current treaties, though doubts persist
FTT would ‘drain financial resources’, says forex lobby group
The global forex division of the Global Financial Markets Association is upping its lobbying efforts to have forex derivatives carved out of the financial transaction tax with new research that shows the potential impact of the tax on transaction costs
ESM direct recapitalisation gets go-ahead
Eurogroup reaches agreement over main features of direct bank recapitalisation under the European Stability Mechanism, but commentators warn the deal could still falter; CRD IV also adopted
Ibos warns of payments disruption as Sepa deadline set to be missed
Banking association says 2014 Sepa migration target will be missed at current pace, which could see systems shut down and payments fail; harmonisation may be limited even when target met
Latvia to adopt euro in 2014
European Commission gives Latvia the green light to become eighteenth eurozone member after it comfortably meets convergence criteria, but ECB voices concerns over price and financial stability
EC recognises member state fears that FTT will hurt clearing
Tax liability could send CCPs "directly into insolvency" warn Czech officials in leaked document
Pressure builds on ECB as figures show no lending growth
OECD and the European Commission call on the European Central Bank to do more, as ECB figures show lending to the eurozone's productive economy continues to shrink
Danish governor rejects financial transaction tax
Per Callesen says tax will restrict market liquidity and banks are ‘right to complain’ about it; says the central bank’s experience with negative interest rates has been a success
Europe's finance ministers inch closer to bail-in framework
Meeting of finance ministers, the ECB and the European Commission highlights differences between member states but strikes a hopeful note for agreement