Credit Suisse has applied for a license to set up an investment banking hub in Madrid, as part of its Brexit migration plans, a spokesperson said Monday, confirming a report from a Spanish newspaper.
A European Union anti-money laundering regulator needs “clearly defined and sufficient” powers, a banking regulator said, addressing public concerns about the new body amid heightened enforcement activity in the financial sector.
The European Union’s banking regulator provided more details about how it will implement a COVID-19 relief package that will relax reporting rules for financial institutions to help aid the economy’s recovery.
A European banking regulator proposed new reporting standards for systemically important institutions that require them to disclose the composition of their funds and the ranking of certain liabilities, in addition to other financial data, according to a draft published Monday.
Two European financial regulators launched a public consultation to revise guidelines on internal governance Friday, as they sought to enhance supervision of credit institutions for money laundering and terrorist financing risks.
The European Banking Authority said it will begin stress-testing banks in January after plans to launch an inquiry into the financial system’s vulnerabilities were scrapped earlier this year due to the coronavirus pandemic.
The European Banking Authority has asked banks to chime in with their views on how it can improve supervisory reporting requirements and reduce the related costs — by up to 20% for some smaller institutions.
Hong Kong-based China Everbright said on Friday that it jointly launched an artificial intelligence economy fund with AI city solution provider Terminus Technologies, aiming to raise RMB 10 billion ($1.4 billion).
An international banking institution offered reforms to better handle failing banks in the European Union in a report published Thursday, suggesting that the EU should implement deposit insurance and standardize nation-level insolvency laws.
European Union regulators want the region’s financial supervision to take advantage of digital tools, such as artificial intelligence, and to be prepared to regulate newly emerging business models, they said Monday.
A European Union regulatory body on Friday called for nations to do more to exercise their power over financial institutions whose collapse might harm the public, arguing that EU countries have not made full use of tools for ensuring stability.
The European Banking Authority has determined that IT systems, unclear national regulations and insufficient budgets could impact the performance of deposit guarantee schemes in European Union banks, the authority said Wednesday in a review of stress testing measures.
Preventing money laundering, creating a streamlined reporting framework and improving supervisory convergence are among the European Banking Authority’s top priorities for 2020, the regulator said in an annual report released Thursday.
The European Union’s banking sector entered the coronavirus-induced financial crisis in a stronger position than in previous crises, the European Banking Authority said Monday when it published the results of its spring 2020 transparency exercise.
With the benefits of cloud outsourcing becoming more clear to financial markets worldwide, the European Securities and Markets Authority (ESMA) on Wednesday proposed a new set of guidelines for how financial institutions should handle this outsourcing to mitigate risk.
The European Banking Authority is imposing additional reporting requirements for lending measures undertaken in response to the coronavirus pandemic, according to a new set of guidelines released Tuesday.
The European Banking Authority has released new details of a revised framework dealing with diversity and risk profiles of investment firms in the EU.
The European Banking Authority issued new guidelines Friday on loan origination and monitoring to financial institutions offering loans to customers that for the first time urge banks to consider environmental factors in evaluating borrowers.
With European banks expected to face billions in losses due to the effects of the pandemic, a regional banking regulator said Monday that most have built enough in capital reserves to absorb the blow, while some “weaker banks” might not make it through the crisis.