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ECB: Banks have six to nine months to cover capital shortfalls following comprehensive assessment
The ECB has today informed banks how capital shortfalls must be addressed following the comprehensive assessment. This announcement follows today's release by the European Banking Authority of the methodology and scenarios for the EU-wide stress test.
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EBA publishes common methodology and scenario for 2014 EU-banks stress test
While the extensive process of banks' balance sheet repair is already underway, the test, designed to assess banks' resilience to hypothetical external shocks, will identify remaining vulnerabilities in the EU banking sector and will provide a high level of transparency into EU banks' exposures.
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EBA publishes action plan for colleges of supervisors
The plan identifies key activities, necessary in 2014 for the effective oversight of Europe's cross border banking groups, and is issued alongside a report providing an assessment on the colleges functioning during 2013.
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ECB publishes SSM Framework Regulation
The ECB has published the SSM Framework Regulation for the Single Supervisory Mechanism (SSM). The SSM Framework Regulation lays the basis for the work of the SSM when it takes over as supervisor of euro area banks in November 2014.
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Bloomberg: ECB proposes aligning upper limit for penalties imposed on banks
The ECB says the upper limit for fines that has been in place since the central bank was created in 1998 should match that applicable to the lenders it will start supervising in November. The proposed changes to European law were posted on the ECB’s website.
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Reuters: ECB's Liikanen says regulation could be extended to shadow banks
Major organisations that carry out banking activities, but are not banks, may become so important to the financial system that they need to be regulated like traditional banks, an ECB governing council member said.
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ECB/Constâncio: Banking Union - Meaning and implications for the future of banking
Vítor Constâncio, Vice-President of the ECB, spoke on the future implications of the Banking Union, saying that the sovereignty-sharing that monetary union represented implies further progress towards more political union.
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ECB: SEPA for cards - Efforts to create truly European payments area
Following the near completion of the migration of the first two payment instruments, SCTs and SDDs, to the SEPA, the Eurosystem is now turning its attention to the harmonisation of the largest electronic retail payment instrument: card payments.
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EPC: SEPA 2014 and beyond
The April 2014 edition of the European Payments Council Newsletter offers food for thought on how to realise the potential of the Single Euro Payments Area (SEPA), which remains thus far a work in progress.
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EBA launches data collection exercise on CVA
The EBA has launched a data collection exercise to advise the European Commission on appropriate amendments to the European Credit Valuation Adjustment (CVA) framework and inform discussions on the CVA risk charge in Basel.
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