On 21 January 2025, the EU Council adopted recommendations for seven countries to correct their excessive deficit situation within a set time period: Belgium, France, Italy, Malta, Poland, Slovakia, and Romania. Dive into the details.
The value of digital payments for retail sales in the EU has skyrocketed, doubling since 2017 to exceed €1 trillion. Yet, the EU’s regulatory framework for card fee-setting lacks regular review to ensure its continued relevance. Meanwhile, challenges persist in achieving seamless account data-sharing, leaving critical gaps in the digital payments landscape.
The European Banking Authority (EBA) has published its final Guidelines on the management of Environmental, Social and Governance (ESG) risks. The Guidelines set out requirements for institutions for the identification, measurement, management and monitoring of ESG risks, including through plans aimed at ensuring their resilience in the short, medium and long term.
The European Securities and Markets Authority (ESMA) has published its first annual market report on the EU crowdfunding market, based on data we receive from National Competent Authorities (NCAs) under the European Crowdfunding Service Providers for Business Regulation, which came into effect in November 2021.
These were the headlines of the last Insight EU Finance Weekly in 2024. We offer delayed access to the headlines of our Insight EU specialized monitoring emails, typically by several days. For real-time updates and comprehensive monitoring services, consider subscribing to one of our annual plans available in the Insight EU Store
The stress test shows that insurers in the European Economic Area are overall well-capitalized and able to meet the Solvency II requirements even under the stress test’s severe. But plausible shocks that stem from widespread supply-chain disruptions, low growth and renewed inflationary pressures.
According to the ECB study, cash is the most frequently used payment method in stores, although use has continued to decline. The share of digital payment instruments continues to increase in value terms, with cards still dominant and share of mobile apps on the rise, but the majority of consumers value having option to pay with cash.
With this note, EIOPA provides an update of the current situation of FWU AG Group and its insurance subsidiaries FWU Life Insurance Lux S.A. and FWU Life Insurance Austria AG, including some considerations for policyholders. EIOPA gave an initial overview of FWU AG group’s situation in August 2024. This release builds on that communication and reflects recent developments.
The U.S. Federal Open Market Committee decided today to lower the target range for the federal funds rate by 1/4 percentage point to 4-1/4 to 4-1/2 percent. In considering the extent and timing of additional adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks.
The European Central Bank (ECB) and the EU insurance supervisor EIOPA propose a possible EU-level approach to reduce insurance protection gap for natural catastrophes, building on existing national and EU structures. Learn more about the two-pillar solution they are aiming at.
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today launched a consultation on draft Technical Standards (RTS) to establish an EU code of conduct (EU CoC) for issuer-sponsored research.
In a plenary vote on Wednesday, MEPs supported Italian candidate Bruna Szego’s appointment as Chair of the EU Anti-Money Laundering Authority (AMLA). To be finally appointed, Ms Szego still needs the support of a qualified majority in the EU Council.
Today, the EU Commission unveils the second part of the European Semester Autumn Package, after the first part had been presented on 26 November, introducing the new economic governance framework. Building on this framework, the second part includes the Commission’s proposal for a recommendation on the economic policy of the euro area for 2025, the 2025 Alert Mechanism Report, and the Commission’s proposal for the 2025 Joint Employment Report.
The Swedish economy is in a protracted recession, but recovery is expected to begin in early 2025. Inflation is expected to be around the inflation target going forward. These are the conclusions of the Ministry of Finance in a new economic forecast.
Alfred Kammer, Director of the European Department at the IMF, spoke at the Annual Economics Conference: Pillars of Resilience Amid Global Geopolitical Shifts in Vilnius, Lithuania.
The IMF Executive Board completed on December 17, 2024, the sixth review under the Extended Credit Facility/Extended Fund Facility (ECF/EFF), and the second review under Resilience and Sustainability Facility (RSF) with Moldova, allowing for a disbursement totaling SDR 122.2 million (about $162.6 million).
Growing demand for data makes it necessary to gather them in a consistent and standardised way across the financial sector. The EU Parliament’s Economic and Monetary Affairs Committee struck a deal with the EU Council on new rules to avoid double reporting and reduce the administrative burden for the EU financial sector.
Here are the headlines from last week’s Insight EU Finance Monitoring, published on Friday night. We provide the headlines with a delay of several days, but you can access our real-time monitoring services by subscribing to one of our annual plans in the Insight EU Store.
The EU Council adopted its position on key elements of a proposed directive to harmonise certain aspects of insolvency law. This partial general approach focuses on measures to preserve the insolvency estate, the duties of directors in the event of insolvency and transparency obligations.
The EU Commission has approved, under EU State aid rules, the prolongation of a Greek scheme (known as ‘Hercules’) aimed at facilitating the reduction of non-performing loans of Greek banks, on the basis that it remains free of any State aid.
Benchmarks are typically indexes or another basket of financial assets, they are widely used by companies and investors in the EU as a reference in their financial instruments or contracts.
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