Dear friends, dear interested, The big clash was avoided only at the last minute: Two days ago, on 3 February 2021, the European Insurance and Occupational Pensions Authority (EIOPA) adopted a long-awaited regulatory text on the so-called PRIIPS Regulation at the second attempt, thus giving in to demands from the European Commission and the European […]
GameStop frenzy relentlessly exposes inefficiency of stock markets
Dear friends, dear interested, It is a battle between David and Goliath that has been unfolding around the GameStop share for about a week now. On the one side: big players in the financial sector, first and foremost American hedge funds. On the other: a swarm of internet-savvy retail investors who want to beat the […]
Elderson: European banking supervision will become stricter and greener
Today, on 26 January 2021, the Committee on Economic and Monetary Affairs (ECON) of the European Parliament voted in favour of Frank Elderson as Vice-Chair of the Supervisory Board of the ECB’s Banking Supervision. The decision was taken in a secret ballot. EPP, S&D, Renew and us Greens had indicated their approval. There were 46 […]
European bank resolution: Europe is poorly prepared for a possible Covid banking crisis
Yesterday, on 14 January 2021, the European Court of Auditors presented a special report on European bank resolution. Already in 2017, the Court of Auditors had identified a number of shortcomings and criticised the slow implementation by the European resolution authority SRB (Single Resolution Board). The current report reviewed the findings of 2017 and looked […]
Green persistance pays off: Better consumer protection on the sale of loans
Dear friends, dear interested, Persistence pays off! The European Parliament’s Committee on Economic and Monetary Affairs (ECON) will tonight adopt a heavily revised version of the rules on the sale of non-performing loans. Thanks to us Greens, the draft bill now includes strong protections for distressed borrowers. This is good news for mortgage borrowers, small […]
NPL Action Plan: Insufficient protection for borrowers and taxpayers
Today, on 16 December 2020, the European Commission has presented its new action plan on non-performing loans (NPLs). It is the Commission’s latest effort to deal with the elevated level of NPLs which have been plaguing banks in many member states ever since the European debt crisis. The new push comes ahead of a potentially […]