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European Commission published discussion paper on the banking resolution regime
As part of the final steps to prepare the forthcoming legislative proposal on the recovery and resolution of banks and investment firms, the Commission is engaging in discussion with key stakeholders on a number of outstanding points, mainly the bail-in tool.
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Informal ECOFIN meeting: EU aims for a common framework for the resolution of unhealthy banks
EU finance and economy ministers and central bank governors gathered in Copenhagen to discuss the EU strategy for solving the economic crisis, the resolution of failing banks, and the EU multiannual budgetary framework.
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Commissioner Michel Barnier welcomed the launch of Big Society Capital
Barnier stressed that Big Society Capital is not only remarkable for its £600 million of available funding, but for the fact that this money comes from original sources – dormant bank accounts – which will now be used to finance projects that have a positive social impact.
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ESRB: Principles for macro-prudential policies in EU legislation on the banking sector
The ESRB supports the establishment of a set of commonly-defined prudential rules on the supervision of banks within the EU, based on the full implementation of the Basel III agreement as endorsed by the leaders of the G20.
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EBA published questionnaire on the identification of users/investors needs on credit institutions Pillar 3 disclosures
The questionnaire invites interested parties to comment on the issues/areas that users of Pillar 3 disclosures consider to be the most important from their perspective, and that accordingly should be the focus of the EBA's 2012 assessment of Pillar 3 disclosures.
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EBA published a report on the Basel III monitoring exercise
The EBA published a report on the results of the Basel III monitoring exercise, as a follow-up to the comprehensive European quantitative impact study conducted to analyse the impact of the new requirements, published in December 2010.
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Barnier: How to achieve global convergence on financial regulation
Barnier stressed that establishing a level playing field also means being attentive to unintended consequences of regulation in other jurisdictions. That is why the Commission is taking a close interest in the Volcker rule.
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FT editorial on Commissioner Michel Barnier's plans for wrapping up insolvent banks
Mr Barnier tackles the elephant that most EU policymakers keep trying to push to the corner of the room: that taxpayers cannot pay for bank losses too huge to be absorbed by banks' equity cushions.
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BIS: Central banking in a balance sheet recession
Panel remarks by Mr Jaime Caruana, General Manager of the BIS, at the Board of Governors of the Federal Reserve System 2012 conference on "Central banking: before, during and after the crisis".
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BBA: Angela Knight to step down
Angela Knight has announced her intention to step down as the chief executive of the British Bankers' Association in the summer. Angela said she will be staying on while the search for her successor is concluded.
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Reuters: European Union told to handle fragile banks with care
European Union finance ministers were warned of the continued fragility of the region's banks on Friday, as the bloc's executive postponed a contested proposal critics warn could make nervous banks even more reluctant to lend. (Includes quote from Graham Bishop.)
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Jens Weidmann: Rebalancing Europe
Dr Jens Weidmann, President of the Deutsche Bundesbank, gave a speech at Chatham House in London on 28 March, 2012.
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Paul Fisher: Liquidity support from the Bank of England – the Discount Window Facility
Paul Fisher, the Bank of England's Executive Director for Markets, gave a speech at the National Asset Liability Management global conference in London on 29 March, 2012.
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EPP/Ivanova: EIB should increase its support for businesses in Europe
The Annual Report on the activities of the European Investment Bank in 2010, now approved in Plenary, focuses on issues related to i.a. financing for SMEs, financial instruments of the bank, external policy programmes, optimisation of systems, audit and control of spending, and improving transparency.
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EPC: SEPA Regulation published in Official Journal of the European Union.
The European Payments Council reports that the Regulation (EU) No 260/2012 effectively mandates migration to SEPA by 1 February 2014 in the euro area.
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EPC: Get ready for SEPA by February 2014 – How to choose the right IT strategy
Part III of the EPC's SEPA series focuses on how to determine the appropriate strategy to ensure the compatibility of IT systems with SEPA payment schemes and technical standards.
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BIS: Progress report on Basel III implementation and procedures for conducting country reviews published by Basel Committee
The Basel Committee on Banking Supervision has published its second progress report on Basel III implementation.
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BIS: Basel III regulatory consistency assessment programme
To aid the implementation process, members of the Basel Committee have agreed on an assessment programme that will review and report on their implementation of Basel III.
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BIS/Jaime Caruana: Shareholder value and stability in banking - is there a conflict?
BIS General Manager, Jaime Caruana, outlined what is meant by safer banking, and took stock of the development and implementation of new standards. He argued that the concerns of investors and bank supervisors are remarkably well-aligned in the long term.
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Commission opens in-depth investigation into sale of Dexia BIL
Given that the proposed sale is the result of exclusive negotiations with a private investor, and that the EC does not have enough information on the valuation of the carved-out businesses, the EC has opened an in-depth investigation to assess whether the price of the transaction is market conform.
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Commission approved amendment to Commerzbank restructuring plan
Under EU state aid rules, the Commission has approved a modification to Germany's and Commerzbank's commitment to divest its largest subsidiary, Eurohypo, by the end of 2014.
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