European Banking Authority

European Banking Authority said Monday Bulgaria should allow immediate access of depositors at Corporate Commercial Bank (Corpbank, KTB) to their savings.

The European Banking Authority (EBA) has launched an investigation of possible breach of EU law in Bulgaria, in connection to the situation with the troubled Corporate Commercial Bank (KTB), said the authority in a press statement.

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By Yiannis Papadoyiannis

An amendment tabled on Wednesday in the Greek Parliament will likely offer local banks a safety cushion of 3 billion euros, thanks to the authorities’ acknowledgement of deferred tax assets in a clause that also concerns leasing and factoring companies.

European Commission President-elect Jean-Claude Juncker unveiled the team on Wednesday that will run key areas of the European Union's policy-making over the next five years with a focus on economic growth, energy reforms, competition and trade.

 Banks expect results of the exercise after mid-October, though meetings with ECB should provide good idea

By Yiannis Papadoyiannis

GERB has called for drastic reforms and replacement of the central bank’s governing council should the party win majority in the upcoming snap vote.

The European Banking Authority will for the first time publish details of banks’ losses from fines and litigation when it releases the results of European Union-wide stress tests later this year.

By Paul Taylor

In the biggest advance in European integration since the launch of the euro in 1999, the European Central Bank will take charge of supervising banks from Helsinki to Lisbon in November after subjecting their books to unprecedented scrutiny.

Offices of Bulgaria's Corporate Commercial Bank (KTB) and its subsidiary Credit Agricole will remain closed at least until September 21, Bulgarian National Bank informed Tuesday.

Bulgaria's President, political leaders and other officials agreed Monday that Bulgaria should take steps to join Europe's Single Supervisory Mechanism.

Separately, the country is to submit itself to a peer review from the European Banking Authority.