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 […]
Success for more transparency: Single Resolution Board will publish new aggregate data
Dear friends, Dear interested, During the last exchange in ECON with SRB chair Elke König, I reached a small but interesting step towards more transparency in European banking resolution. Much of the work of Europe’s banking resolution authority, the Single Resolution Board (SRB), is notoriously opaque. The resolution plans of the large European banks and […]
Stocktake of the German Council Presidency: Negatives outweigh the positive
Dear friends, Dear interested, The six-monthly rotating presidency of the Council of Ministers is an opportunity for the Member States to influence European policy for years to come. Only every 14 years or so does each national government have the chance to shape the fate of the EU so directly. Unfortunately, our stocktake after […]
Agreement on the EU budget: The financing of the European Green Deal is secured
Dear friends and all those who are interested, This week, the negotiators of the European Parliament, the European Commission and the Council of Ministers agreed on the EU budget for the next seven years. The so-called multiannual financial framework (MFF) sets directions for the future of the Union. It is also linked to an agreement […]