European Banking Authority

European countries need to join forces to shield their banks from the coronavirus outbreak, one of the bloc's top regulators said on Monday, potentially using a 500 billion euro ($545 billion) EU recovery fund to do so.

Global bank capital rules should be applied in full across the European Union, the bloc's banking watchdog said on Monday, dashing industry hopes for leniency after a decade of intense regulation.

The race to take over the European Central Bank's supervision arm has become a dead heat as southern European countries appear to be lining up behind an Italian candidate, four sources familiar with the process said.

The stress tests that Greek banks are due to undergo in the coming weeks will provide an important waypoint in the country's efforts to get back on the path to normality.

The European Banking Authority is scheduled to release the macroeconomic scenarios for European banks' stress tests on Wednesday, although certain sources say this may be postponed until the end of the week.

Parliament adopted amendments to the Credit Institutions Act at first reading, reported BGNES. 

The purpose of the draft law is to improve the regulatory framework for banking supervision by complying with the recommendations of the Financial Sector Assessment Program report and the commitments made by the Bulgarian National Bank in response to the report.

The European Medicines Agency (EMA) moved to Amsterdam and the European Banking Authority (EBA) - in Paris. This is the final outcome of the EU Council meeting, which lasted until late Monday, where the 27 member states (naturally without the UK) have decided where to move the two agencies. They have to leave London because of Britain's decision to leave the EU, reports capital. 

At the EU Council in Brussels by secret ballot today will be designated the cities that will host two European agencies - the European Medicines Agency and the European Banking Authority after Brexit, reports sega. 

They are currently in London.

European authorities will prepare by the end of next year enhanced disclosure requirements on bad loans as part of an action plan to tackle the risk of non-performing loans (NPL).

EU economic and finance ministers (Ecofin Council) are expected to adopt today (11 July) a plan to decrease the high level of bad loans held by banks in member states.

Along with banks that have signaled they will be moving jobs abroad, Brexit will probably see the European Banking Authority leave London -- and rival cities are jockeying to be its next host.

The London headquarters of the European Union's financial regulator, in the Canary Wharf district, has 170 staff members from 27 of the 28 European Union nations.