Discusses recent episodes of market and operational disruptions. Basel Committee approves annual assessment exercise for global systemically important banks (G-SIBs). Finalises analytical report on liquidity risk insights from the 2023 banking turmoil. The Basel Committee on Banking Supervision met virtually on 23–24 September to take stock of recent market developments and risks to the global banking system, and to discuss a range of policy and supervisory initiatives. Continue reading…

by Ciara Irwin

In today’s world, where environmental sustainability is becoming increasingly crucial, finding efficient and eco-friendly ways to power our homes is essential. Homeowners seeking to reduce their carbon footprint while enjoying energy savings can now take advantage of the combined benefits of air source heat pumps, Solar PV, and battery systems. Let’s explore how this powerful trio can revolutionise your home and contribute to a greener future. Continue reading…

New rules from the FCA to protect access to cash have come into force and are already having a positive impact in local communities. Since the rules were confirmed in July, LINK, which manages the UK’s cash access and ATM network, has reassessed the needs of local areas where banking services are changing. Continue reading…

During a global operation, authorities from around the globe took down an encrypted communication platform used for criminal activities such as drug trafficking, homicide, corruption and money laundering. The wide scale operation, supported by Eurojust and Europol, led to over 50 arrests and the seizing of financial assets. Continue reading…

The European Banking Authority (EBA) recently published its European Resolution Examination Programme (EREP) Report. It sets three priorities for resolution authorities and banks for 2025: operationalisation of their resolution tools, liquidity strategies in resolution, and management information system for valuation. The Report also looks at the progress achieved in 2023 and identifies areas of improvement. Continue reading…

The FCA has charged Mr Olumide Osunkoya, who is 45 and resides in London, for unlawfully running multiple crypto ATMs without FCA registration. Crypto ATMs are machines that allow you to buy or convert money into cryptoassets. Mr Osunkoya is accused of running crypto ATMs, which processed £2.6m in crypto transactions across multiple locations between 29 December 2021 and 8 September 2023 without the required registration. Continue reading…

by Margrethe Vestager

Today is a big win for European citizens and for tax justice. The Court of Justice confirms the decision from 2016 by the European Commission: Ireland granted Apple unlawful aid which Ireland now has to recover.  And this judgement is final. The Court also confirms the Commission’s decision in the Google Shopping antitrust case. And also this is a final judgment. Let me first talk about Apple case and the judgment in itself. It is a win for the Commission. It is also a win for the level playing field in the Single Market, and for tax justice. Continue reading…

The seven members of the Eurojust-supported joint investigation team (JIT) on alleged core international crimes committed in Ukraine have agreed to amend the JIT Agreement to enhance investigations on crimes of torture, ill-treatment and filtration. The JIT meeting took place in Kyiv on 10 September, just before the start of the recently held United for Justice Conference. Over the last two and a half years, the JIT’s operations have significantly strengthened the capacity of member states to investigate Russian war crimes, laying a solid legal foundation for gathering, preserving, and exchanging evidence.

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The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have on 10 September issued their Autumn 2024 Joint Committee Report on risks and vulnerabilities in the EU financial system. The Report underlines ongoing high economic and geopolitical uncertainties. The ESAs warn national supervisors of the financial stability risks stemming from these uncertainties and call for continued vigilance from all financial market participants. For the first time, the Report also includes a cross-sectoral deep dive into credit risks in the financial sector. Continue reading…