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Lithuanian Presidency: Agreement on Single Resolution Mechanism needed
ECOFIN Ministers are expected to discuss all key elements of the SRM, including the scope and financing arrangements, decision-making and voting mechanisms, as well as other related questions.
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ECB publishes its opinion on the Single Resolution Mechanism (SRM)
The ECB fully supports the establishment of an SRM. It believes that centralised decision-making on resolution matters will strengthen the stability of EMU, and that the SRM will provide a necessary complement to the SSM.
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VP Almunia: A stronger regulatory framework and the Banking Union will support a return to growth
Almunia discussed i.a. the SRM and the upcoming ECB review. He said bank bailouts remained a possibility if the stress test revealed significant capital shortfalls or if the debt crisis were to flare up again.
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ECB/Asmussen: The public and the private Banking Union
Asmussen said he was 'adamantly convinced' that the Banking Union would only function if the SSM was complemented by an SRM, and that it was of 'utmost importance' to have a political agreement on the SRM by the end of this year.
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Plan to raid bank creditors could shatter Europe's calm
Support appears to be growing for the EU to accelerate implementation of a law that allows raids on creditors and major depositors at banks that are on the verge of failure. Meanwhile, the Bank of Italy has said bail-in by bank creditors could result in a human rights case.
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EBA publishes peer review on the implementation of the stress-testing guidelines
The aim of the peer review was to assess and compare the effectiveness of the supervisory activities related to the review of credit institutions' own stress-testing frameworks across the EU, as well as the implementation of related provisions by competent authorities.
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Reuters: EU banks outside eurozone likely to overcome stress test divide
EU nations that lie outside the eurozone plan largely to fall in behind the ECB when they check the health of their banks, helping them to avoid a "two tier" outcome in stress tests next year.
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G-SIBs: Information regarding the end-2012 exercise published by the Basel Committee
In conjunction with the publication by the FSB of the updated list of global systemically important banks, the BCBS has published additional information regarding the G-SIB methodology.
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ECB/Cœuré: Savers aren't losing out
Writing for the Handelsblatt, Cœuré defended the ECB against complaints that its low interest rate policy was favouring borrowers over savers, saying the current low return for savers was an ongoing result of the recession and the fragmentation in the euro area financial market.
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EBF publishes European Interbank Guidelines
The EBF published its European Interbank Compensation Guidelines and its European Interbank Liquidity Management Guidelines.
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Fitch: Bank regulation is substituting accounting prudence
Regulators are able to use capital adequacy requirements to employ a greater degree of prudence than currently allowed in financial reporting, Fitch Ratings says.
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EPC: Fact check - The rationale for SEPA
This blog cites the rationale for a Single Euro Payments Area, as defined by the EU governments and EU institutions, i.e. the Commission, the EP, the Council of the EU representing EU Member States and the ECB driving the SEPA programme.
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WSJ: German savings banks flex political muscle
Germany's public savings banks have become the most powerful little lenders in the world, exploiting their political clout to punch loopholes into Europe's post-crisis banking laws.
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BBA: PCBS conference
"There is no doubt the PCBS' [UK Parliamentary Commission on Banking Standards] report is the most substantial into banking in a generation and that its recommendations are critical to restoring trust and confidence in the sector."
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