European Commission (EC)
Hungary drops plan to merge central bank with regulator
Hungarian prime minister Viktor Orbán says planned merger between National Bank of Hungary and Hungarian Financial Supervisory Authority has been abandoned
European Commission begins legal action against Hungary
European lawmakers launch accelerated infringement proceedings against Hungary regarding the independence of its central bank; Budapest has one month to respond or risks financial penalties
Hungary passes controversial central bank bill
Hungarian parliament votes in favour of amendments to National Bank of Hungary law; central bank warns that law presents serious threat to economy
Barroso urges Hungary to drop controversial bill
European Commission president Jose Manuel Barroso challenges Budapest over proposed amendments to National Bank of Hungary law; central bank raises rates by 50 basis points
Sepa migration deadline pencilled in for 2014
European Union says migration end-dates for credit transfers and direct debit to Single Euro Payments Area will be February 2014
European Commission draws up new list of countries for Solvency II equivalence
Decision on Bermuda, Japan and Switzerland equivalence to be taken once Level 2 measures agreed
Expert group calls for launch of Eurobond fund
European League for Economic Co-operation publishes proposals requesting the establishment of eurozone bond fund; would issue paper with maturities of up to two years
Bank of England sets out code of practice on electronic trading
Members of the FX Joint Standing Committee comment on the recently reviewed Nips code, which includes a new section on electronic trading
National Bank of Hungary takes swipe at government
Central bank rejects cabinet selection of official to attend meetings on foreign currency loan problems in Hungary; sign of continued poor relationship
Commission unveils contentious Eurobond proposals
European Commission unveils three options for Eurobonds in bid to restore stability in Europe; analysts say the measures are politically unviable and ineffective
Barnier leads crackdown on credit rating agencies
European Commissioner publishes proposals that will enable credit rating agencies to be sued by investors if they break EU rules "intentionally or with gross negligence"
Ireland releases agreement on split of banking oversight responsibilities
Previously confidential memorandum of understanding between department of finance and central bank shows split of responsibilities; document forms part of bail-out programme
IMF to supervise Italy on debt reduction plan
Italian prime minister Silvio Berlusconi agrees to invite International Monetary Fund to Rome to oversee its fiscal consolidation efforts but turns down option for financial support
Greek debt value halved after marathon EU discussions
New Europe crisis resolution deal brokered overnight in Belgium; EFSF extended, Greek debt cut, banks’ capital to rise and governance increased
European Payments Council raises concerns over Sepa regulation
Representatives from Europe's payments industry say European Union proposals for Sepa regulation are an attempt to abolish preferred direct debit model in region
Basel Committee assesses progress towards new capital rules
Basel Committee on Banking Supervision monitors progress of member countries in adopting proposals for higher bank capital buffers
Euro area must stand ready to bail out banks, says Liikanen
Bank of Finland governor Erkki Liikanen says euro area governments must be prepared to inject capital into banks if they are unable to raise their funds in market
Barroso spells out eurozone recovery plan
European Commission president José Manuel Barroso outlines roadmap to eurozone stability in last ditch effort to end the sovereign debt crisis
EU plans coordinated action to recapitalise banks
European Commissioner Olli Rehn says capital positions of European banks must be reinforced; calls for comprehensive strategy to restore confidence in Europe
Barroso to ECB: do 'whatever is necessary' to maintain financial stability
European Commission chairman says ECB must ensure financial stability by any means; announces financial transaction tax and supports eurobonds
Greece talks with Troika back on track
Negotiations over Greece‘s sixth tranche of bailout funds are set to resume as Troika leaders agree to return to Athens
European Commission to consider euro bond options
European Commissioner José Manuel Barroso says options for common eurozone bond will be reviewed; Bundesbank's Jens Weidmann says bond would lead to "socialisation" of debt
European Commission establishes payment systems market expert group
European Commission seeks help from experts on payments system legislation and policy initiatives