Category: EU Commission
EU Parliament to vote on Banking Union on 13 September 2012
On 10 September 2012, the EU Parliament published a new procedure file indicating that it intends to debate the legislative proposal for EU banking union on 12 September, the same day on which it is published by the EU Commission. The EU Parliament will vote on the proposals on 13 September 2012.
First Steps Towards EU Banking Union to be Finalised by End of 2012
The EU Commission has published a speech given on 3 September 2012 by Olli Rehn, Vice-President of the European Commission and member responsible for Economic and Monetary Affairs and the Euro on EU banking union entitled “Towards a Genuine Economic and Monetary Union”. The EU Commission sees banking union as a top priority and proposes […]
EU Commission to Propose Single Banking Supervisor by 2012 Year End
An article in today’s Financial Times reports that, on 12 September 2012, Jose Manuel Barroso, European Commission President, is set to unveil proposals to create a single EU banking supervisor by extending the powers of the European Central Bank (ECB). Under the proposals, a 23-member ‘supervisory board’ of the ECB, separate from its governing council, […]
EU Commission to propose single banking supervision mechanism on 11 Sept 2012
The EU Commission has issued a press release to the effect that, on 11 September 2012 (date still to be confirmed), it will present proposals for a single banking supervision mechanism in the euro area, focused around the European Central Bank. The Commission expects the proposals to be adopted by the end of the year, […]
European Banking Federation Publishes Study on Reform of EU Banking Sector
Introduction On 24 July 2012, the European Banking Federation (“EBF”) published a “Study on the issue of possible reforms to the structure of the EU Banking Sector”. The report is related to the ongoing work of the High Level Expert Group established by the EU Commission to examine the same issue. The report distinguishes regulatory […]
EU Consultation on RRP for Non-Banks Now Expected in August 2012
On 23 July the EU Commission published an updated agenda regarding legislative proposals which it expects to adopt in the period between 18 July 2012 and 31 December 2012. As part of its updated timetable, the consultation on possible recovery and resolution arrangements for systemically important financial institutions other than banks and large investment firms […]
UK Government Comments on the Proposed RRP Directive
On 12 July 2012, the House of Commons European Scrutiny Committee published its seventh report of the 2012/13 session. The report provides a helpful summary of the proposed EU RRP Directive, together with the UK Government’s views on some of its central themes. The UK Government broadly welcomes the draft Directive, believing that it will […]
EU Council Meeting: Economic and Financial Affairs
The Council of the EU has published a press release regarding the meeting of the EU Economic and Financial Affairs Council (ECOFIN) comprising EU member states’ Ministers for Finance convened in Brussels on 10 July 2012. Top of the agenda were the subjects of European banking union and bank recovery and resolution. Single European Banking […]
“British taxpayers will not be guaranteeing any Eurozone banks”
In a statement published on 29 June 2012, following the close of the EU Council meeting held on 28 and 29 June 2012, the heads of all EU Member States called on the EU Council to consider proposals for a single EU banking supervisor by the end of 2012 and as a matter of urgency. […]
EU Banking Union Proposals by Autumn 2012
On 22 June 2012, the European Commission published an updated version of its memorandum on an EU banking union. The memorandum states that the President of the European Council, Herman Van Rompuy, will present a report on the matter to the next European Council, scheduled to be held on 28-29 June. Following this, proposals from […]