European Commission (EC)
EBA calls for binding 3% minimum leverage ratios
Central counterparties and central securities depositories should be exempted from leverage ratio, EBA says, as it recommends binding pillar 1 requirement
Italian banks feel more pressure from EBA stress-test results
Publication of the 2016 stress tests on European banks focuses attention on Italian banks in particular, but private sector recapitalisation plan takes some pressure off MPS
Bank of Italy paper aims to improve on EC current account model
Research offers a new model of external adjustment; the EC’s model tends to mis-state cyclically adjusted current account balances of large eurozone economies, researchers argue
EBA publishes final draft of IRB assessment methodology
The EBA publishes the final draft standards by which European regulators will assess banks’ compliance with the rules on using internal models to judge capital adequacy
Constâncio calls for ‘deep reflection’ on public support for banks
ECB vice-president Vítor Constâncio suggests European Union should consider relaxing its rules on state aid to banks; cites IMF concerns and example of US bail-out
Draghi protests at Slovene police raid on central bank premises
Mario Draghi protests over a Slovene police raid on the country’s central bank and seizure of ECB information; calls on commission head Jean-Claude Juncker to take further action if necessary
Italian banking system sees first major test of European bail-in regime
Leaked letter from ECB triggers sell-off in major Italian commercial bank; European and Italian authorities still fail to reach agreement on resolving NPL problems
European supervisors raise ‘strong concerns’ over Commission’s delay in derivatives regulation
Three European cross-border supervisory authorities challenge European Commission over implementation of standards; delay could have "significant negative impact"
Sale by Hungarian central bank challenged on transparency grounds
Hungary’s central bank announces it has sold a nationalised bank to three groups of private investors; defends process as ‘transparent’, but local campaigners question move
Dombrovskis replaces Hill in leading work on Capital Markets Union
Britain’s European finance commissioner resigns following referendum to be replaced by former Latvian PM; political timetable likely to delay further integration moves, analyst says
Europe’s regulatory challenges seen increasing in wake of ‘Brexit’
The UK’s possible departure from the European Union could intensify regulatory problems in region, one analyst says; Mifid and European Banking Authority may be key areas of concern
Eurozone investment still ‘unsatisfactory’, Draghi says
Mario Draghi calls for extension of European Investment plan and national reforms targeted at "bottlenecks"; eurozone investment still "unsatisfactory" despite recent gains, ECB president says
Electronic payment system standards will be a 2016 priority, EBA says
Developing technical standards for European electronic payment systems will be a priority for 2016, the EBA says; authority will continue to work closely with ECB
ECB bulletin article criticises EU fiscal arrangements
The eurozone's fiscal arrangements are "vague", article in the ECB’s latest economic bulletin says; criticises Commission's proposed fiscal metrics and calls for single eurozone treasury
Esma criticises European Commission plans for regulating NFCs
“Significant drawbacks” present in European Commission’s proposed approach to regulating non-financial corporations’ derivatives transactions, European Securities and Markets Authority argues
Brexit and Hungary’s challenge to European governance
The European Central Bank and Europe's political leaders must meet the challenge as another front opens for European monetary stability
EBA sees stability risk in Commission ratings proposal
European Banking Authority criticises Commission’s proposals on use of credit ratings’ agencies judgements by regulators; amendments would ‘increase risk to financial stability’, it says
Eurozone finance ministers hold extraordinary meeting over Greece
Finance ministers meet in Brussels over Greek debt; recent negotiations marked by public disagreements between IMF and Greek government
Italian governor criticises bank resolution rules
Bank of Italy governor Visco says BRRD and European Commission policy may increase risk of financial instability
ECB sets out principles for designing backstop to single deposit guarantee scheme
ECB repeats call for single European deposit guarantee scheme; designing the scheme’s fiscal backstop will be key, financial stability report says
IMF director calls for fiscal expansion in eurozone
Greek attempts to consolidate fiscal position by increasing top tax rates ‘simply not working’, director says
Villeroy de Galhau calls for eurozone finance minister
Banque de France governor calls for single eurozone finance minister to co-ordinate fiscal and structural policy; warns of dangers of “overburdening monetary policy”
Low profitability and NPLs remain top of the eurozone supervisory agenda
European Central Bank presents annual report for supervision, with major concerns including profitability and non-performing loans; supervisors are working closely with the single resolution board
Institutions agree to mission to check on Greek reforms
Representatives of European and international institutions have agreed to send a team to Athens to check on reform progress; visit is necessary to allow bail-out to continue