Financial law

The Swedish Central Bank and the Bank of England carry out researches on whether they should start issuing Central Bank Digital Cash (CBDC) and compete with bank credit as a means of payment.

İş Bank, one Turkey's largest private lenders, has said it signed a syndicated loan agreement in the amount of 644.9 million euros (some $ 722 million) and $323.5 million with a maturity of 367 days.

The Administrative Court will meet today on the air clean-up case in Sofia. It was filed by non-governmental organizations against Sofia Municipality.

The European Commission is working on its biggest regulatory push on banking since the 2008 financial crash that could curb Britain's access to the bloc, according to an internal draft document seen by Reuters.

Handouts over the next four years, tax and social security debt settlements, and one more market foray, probably between May 9-16, will be at the focus of the government's agenda for the next few weeks leading up to the May 26 European elections.

Handouts over the next four years, tax and social security debt settlements, and one more market foray, probably between May 9-16, will be at the focus of the government's agenda for the next few weeks leading up to the May 26 European elections.

The debts that 1.4 million workers, employers, self-employed and farmers owe to the social security funds have exceeded 35 billion euros, or nearly 20 percent of gross domestic product, while just one in four debt settlement plans are adhered to.

According to an announcement by the Ministry of Finance, Cyprus is expected to issue a 5 year and a 30 year bond as soon as Wednesday.
Barclays, Deutsche Bank, Goldman Sachs, J.P. Morgan, Morgan Stanley and Societe Generale will run the debt issuance which is earmarked for the early repayment of Cyprus' Russian loan.

Market professionals are raising objections to two aspects of the planned scheme whereby taxpayers will be able to pay off their social security debts in 120 tranches.

The state promises to subsidize the installments of financially challenged households for repaying their dues to their creditors by between 20 and 50 percent, whether they reach a settlement in court or via the out-of-court mechanisms to protect their main residence from repossession.