European banks will be wary about conducting new business in Iran even after many international sanctions are lifted, European executives and officials have warned — potentially limiting the economic benefits Iran will receive from its landmark nuclear deal with world powers. Still stinging from fines levied by US regulators for breaching the old sanctions [...]
Investors have cried foul, threatening legal action and claiming Portugal is discriminating between holders of the same class of bonds and thus breaching the pari passu principle of equal treatment to protect domestic bondholders. “They are sending a signal that property rights and the rule of law in Portugal are not respected,” said Philippe [...]
The Single Resolution Mechanism (SRM) will become fully operational on 1 January 2016. The SRM implements the EU-wide Bank Recovery and Resolution Directive (BRRD) in the euro area. The full resolution powers of the Single Resolution Board (SRB) will also apply as of 1 January 2016 (IP/14/2784). A milestone on building the Banking Union [...]