European Parliament agrees on ECB supervision of Eurozone banks. More agreement needed before European banking union can be implemented.
Italy has said the European Central Bank’s approach to reducing non-performing loans in the EU is problematic. The country's banks have the most bad loans in the bloc and Rome wants a slow reduction.
Eurozone banking supervisor Daniele Nouy is worried about high levels of non-performing loans (NPLs) on eurozone banks' balance sheets. Guidelines on how banks should deal with their NPL burdens are in development.
The EU Commission has unveiled plans for a eurozone bank deposit insurance fund to become the third pillar of its much-vaunted banking union. Germany and Austria, however, are resisting the proposal.
Stress tests of Europe's biggest banks showed most are healthy. A few appeared wobbly: Italy's Banca Monte dei Paschi di Siena, Allied Irish Banks, Scotland's RBS, Austria's Raiffeisen and Spain's Banco Popular.
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