First 'equivalence' decisions for central counterparty regulatory regimes NEW
The European Commission has adopted its first 'equivalence' decisions for the regulatory regimes of central counterparties (CCPs) in Australia, Hong Kong, Japan and Singapore.
European Commission assesses economic consequences of country-by-country reporting NEW
Today the Commission adopted a report containing a general assessment of the economic consequences of country-by-country reporting by banks and investment firms under Article 89 of the Capital Requirements Directive (CRD IV).
Commission welcomes improved situation for clients of car rental companies NEW
On 8 August, the European Commission made public a letter sent to the CEOs of six international car rental companies, asking them to end practices preventing consumers from accessing best available prices on the basis of their country of residence.
After the crises, a new vision for the European project NEW
"Tonight is a very special occasion for me since it will be my last speech after five years as a European Commissioner. Therefore I will not give you a lecture on the single market and financial services. I want to make it more personal by telling yo...
Stress tests and ECB assessment: safer banks serving the economy NEW
The European Commission welcomes the results of the EU-wide stress test by the European Banking Authority and the comprehensive assessment by the European Central Bank.
European Commission proposes ratification of Marrakesh Treaty to facilitate access to books for visually impaired persons NEW
The Treaty will ensure that books in formats such as Braille, large print, e-books and audio books with special navigation tools, produced under copyright exceptions, can be exchanged across borders, not only within the EU but also between the EU and...
Commission adopts detailed rules on contributions of banks to resolution funds NEW
The European Commission has today adopted a delegated act and a draft proposal for a Council implementing act to calculate the contributions of banks to the national resolution funds and to the Single Resolution Fund respectively.
Commission adopts detailed prudential rules for banks and insurers to stimulate investment in the economy NEW
The European Commission adopted today delegated acts under the Solvency II Directive and the Capital Requirements Regulation which will help promote high quality securitisation, ensure that banks have sufficient liquid assets in testing circumstances...
Commission adopts Regulatory Technical Standards to implement stricter rules on credit rating agencies NEW
The European Commission adopted three Regulatory Technical Standards which will help to implement key provisions of the Regulation on Credit Rating Agencies by setting out reporting and disclosure requirements in three important areas.
Disclosure of non-financial information: Europe’s largest companies to be more transparent about how they operate NEW
The European Commission welcomes today’s adoption by the Council of the Directive on disclosure of non-financial and diversity information by large companies and groups. Companies concerned will disclose information on policies, risks and outco...
Attack to win games and defend to win trophies: safeguarding financial stability in the EU single market NEW
“We have attacked through the overhaul of the financial framework of the last five years. Now we need to defend what we have achieved by remaining alert to new and potential risks. Adapt to changing circumstances. And play as a team to win the...
Competitiveness Council - 25-26 September NEW
The first Competitiveness Council under the mandate of the Italian EU Presidency will take place in Brussels on 25-26 September 2014. The Council will discuss the mid-term review of the EU’s economic growth programme, the Commission’s Imp...
Financial Reform: A Call to Action NEW
“Application of the texts, implementation of reforms, continuing to adapt the existing framework: here are three key challenges in which your committee will play a key role, together with the Commission and the Council”. Speech by the Vic...
The challenge of implementing market regulations consistently at the global level NEW
“We must ensure rules are applied in a consistent and coherent way. This is particularly true for the EU and the US”. Speech by Vice-President Barnier at the Eurofi Financial Forum, in Milan.
Political Transition vs Economic Transition: a foundation for future development NEW
"Tunisia faces many challenges and the road is still long and probably bumpy, but I want to salute the tremendous capacity of the Tunisian people and its leaders to face these difficulties through dialogue." Speech by Vice-President Barnier.
Commission services consult on cross-border mergers and divisions NEW
The purpose of this consultation is to collect information which would allow the Commission to assess if the existing rules for cross-border operations of companies need to be changed.
Vice President Barnier writes to European Banking Authority Chair Andrea Enria concerning potential circumvention of EU rules on bankers’ bonuses NEW
“It is important to show a collective proactive stance on this important matter and address the claims made that the spirit – if not the letter – of Union law is being disregarded”. Letter from Vice President Barnier to Andrea...
The European Commission today adopted the review reports on the European System of Financial Supervision (ESFS) NEW
"This review is aimed at further enhancing the ability of the ESAs to improve the functioning of the single market for financial services and thus identifies scope for action in the short and medium term", said Commissioner Barnier...
Vice-President Michel Barnier welcomes major milestone for the internal payments market with the migration to SEPA (Single Euro Payments Area) NEW
Today, a big part of the Single Euro Payments Area has become reality. In all euro countries citizens have now available a common and simple way to pay at home and across borders.
Single Euro Payments Area (SEPA) becomes fully operational in all Eurozone countries as per tomorrow 1 August 2014 NEW
The Single Euro Payments Area (SEPA) creates a true European Single Market for retail payments in euro where transfers, direct debits and payments between Member States are as easy and fast as the equivalent domestic transactions. It will become full...