Region: European Union

ECJ affirms ECB’s “likely to fail” powers after Latvian bank appeal

Europe’s highest court has dismissed an appeal from now-defunct Latvian bank ABLV, affirming the European Central Bank’s capacity to declare banks “failing or likely to fail”.

10 May 2021

SRB issues liquidity resolution guidance

The EU’s Single Resolution Board has asked banks to estimate their liquidity needs in resolution scenarios, in the first new guidance it has published under an expectations policy it issued last year.

05 May 2021

Is the European CMBS market set for a revival?

The impact of the covid-19 pandemic on financial markets has been compared by many to the aftereffects of the post-2008 financial crisis, and for good reason. Reed Smith partners Jason Richardson and Iain Balkwill ask whether European commercial mortgage-backed securitisation will survive, or whether the pandemic has sounded a second death-knell for this form of securitisation.

28 April 2021

EU and UK target greenwashing with sustainability proposals

UK lawmakers have urged the country’s financial regulator to ramp up efforts to tackle greenwashing, as the European Commission announces proposals to require large international banks to comply with higher sustainability reporting requirements.

23 April 2021

What is dead may never die: EBA product governance and oversight guidelines “invalid”, says ECJ adviser

The European Banking Authority’s ability to react to new challenges and risks in the sector could be compromised, after an EU advocate-general said its guidelines on retail banking should be declared “invalid”.

21 April 2021

Internal models leave €275 billion unaccounted for, ECB review finds

Banks underestimated their risk-weighted assets by a collective €275 billion, according to a new ECB review of banks’ internal models.

21 April 2021

EU and Russia push forward on CBDC plans, amid pushback

Central banks in Russia and the European Union have both moved forward on their ambitions for digital versions of their currencies, as private sector voices increasingly raise concerns about the potential impact of CBDCs on financial stability.

16 April 2021

EBA calls for greater detail in “non-logical” investment policy disclosures

The EU’s banking watchdog has announced broader disclosure requirements for large investment banks.

08 April 2021

UK and EU prepare for “managed divergence” in financial services deal

The UK and European Union have put in place a new post-Brexit financial services pact to enhance cooperation on regulation in the sector, a move that could bring about a “managed divergence” of EU and UK regulation.

30 March 2021

Dutch central bank recruits ESMA chair

The Dutch government has hired the head of the European Union’s securities regulator to lead its banking supervision department.

25 March 2021

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