European Commission (EC)
ECB calls for reforms to macro-prudential framework
“Pecking order” for activating responses should go, ECB says; framework needs “comprehensive review"
European Union’s AML regime is reaching its limits, EBA director says
Haben raises concerns over ‘passported’ individuals and firms; new European law guarantees access to central bank registers
CFTC chairman expects to resolve EU-US CCP spat
Giancarlo lauds relationship with EU’s Dombrovskis
Finnish lawmakers nominate Olli Rehn to be next governor
Likely candidate is former European commissioner and economic affairs minister
Investment key to Europe’s digital future, says Commission’s Ansip
Commission vice-president provides update on digital single market project
European Commission proposes uniform cost for trans-EU euro payments
Dombrovskis also calls for EU-wide transparency on currency conversions
Distribution of national seigniorage profits is a matter for governments – ECB
New head of Commission’s civil service is seen as key backer of seigniorage proposals
Europe’s CCP recovery rules draw fire
CCPs and clearing members unhappy with proposed allocation of non-default losses
ECB publishes updated NPL guidance
Central bank recommends stricter framework than European Commission
European Commission calls for action on NPLs
Commission’s proposals differ from ECB’s October document
European cyber resilience board holds first meeting
ECB’s Cœuré will chair board consisting of major financial infrastructure companies
ECB largely supports Commission’s proposals for ESRB
ECB president would become ex officio head of systemic risk body
Latvian governor attacks bribery ‘lies’
Prime Minister says governor may be target of smear, but banker widens accusations
People: Tunisian governor resigns; EFSF appoints chairman
Governor Ayari quits after Tunisian prime minister initiated the process to replace him; EFSF picks new chairman; European Commission proposes new chief for Systemic Risk Board
Sovereign bond-backed securities could improve eurozone stability – ESRB
Regulations would need to change and treatment of sovereign bonds would be vital, argues Central Bank of Ireland Governor
Eurozone bondholders should stay ‘on the hook’ – Dombret
Bonds issued by bailed-out governments should have maturity extended, argues Andreas Dombret
European Commission proposes creating a European Monetary Fund
The new EU institution would replace the European Stability Mechanism in 2019
People: Fiji appoints deputy; Commission proposes new SRB chair term
Esala Masitabua will become deputy governor in Fiji on January 1, 2018; European Commission proposes extending Elke König’s mandate as chair of the SRB; and more
Bank of Portugal sells majority share in ‘good bank’
EC permits recapitalisation deal with US investor after lengthy attempts at sale
ECB welcomes European Commission’s CCP proposals
Suggested policy would give all EU central banks greater regulatory role
ECB calls on Commission to rethink CCP resolution and recovery plans
Proposals need to shift focus from stand-alone recovery, ECB says
EBA recommends new prudential regime for investment firms
Firms should be subject to tripartite classification with different capital requirements
European Commission announces supervisory agency reforms
Proposals would see Esma’s powers significantly increased while all ESAs would gain executive boards
Italian bail-outs may set bad precedent, ECB supervisor warns
But recent resolutions show system is working well operationally, Angeloni says