European Commission (EC)
Draghi examines financial integration through a digital lens
Digitalisation will help with financial integration, but beware of the risks, says Draghi; fintech is high on the ECB’s strategic agenda
Esma calls for more powers over rating agencies and repositories
Agency head says he is not sure if European Commission will act on his recommendations
EBA and Esma request clarification of CCP regulations
Agencies query areas of ambiguity for clearing houses’ derivatives transactions
Greek negotiations turn acrimonious amid debt relief freeze
ESM freezes debt relief measures for Greece, accusing government of breaking spending promises; European Commission’s Moscovici hits back at IMF criticism
ECB backs EC plan to consolidate macro-prudential policy
Central bank says it should be handed new and clearer powers, while toolkit should go “beyond banking”
Route ahead unclear for Italian banks
At least one bank faces major loan book problems; European law may present difficulties with recapitalisation and “bad banks”
Ukrainian central bank proposes abolition of forex restrictions
The central bank’s multi-stage plan includes a draft law, despite political disputes
Dealers urge further clarity on rules for ailing CCPs
New European rules stop short of defining resolution triggers
EBA recommends changing basis of resolution finance
“Crucial” that new measure reflect ability to call on funds in case of resolution crisis, EBA says; new measure should be based on total liabilities
EBA sets out 2017 work programme
Authority will undertake “re-prioritisation exercise” after European Commission does not meet full staff request
EBA suggests anti-money laundering measures for virtual currencies
Major new legislation or amendments needed to regulate payments in virtual currency, EBA says; suggests changes to proposed extension of regulation and calls for deadline for implementation
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