While the contentious proposed EU cap on banks’ card fees has drawn much attention, the Payment Services Directive is also courting controversy, with respect to the ability of third-party providers to offer payment initiation services and refund obligations for Sepa direct debits.
Incoming governor holds bank’s first press conference; launches new refinancing facility.
US bank is showing signs of real momentum; Astute hires and capital strength key to growth
The Hungarian forint is set to come under pressure as the country’s government prepares to mitigate the effect of FX loans taken on ahead of the financial crisis in a bid to garner popularity before next year’s elections.
A weakening currency, strong credit growth and inflationary pressure will force the central bank to raise interest rates in the teeth of political pressure, imperiling the government’s growth target, analysts say.
EM FX is less undervalued than it has been for a decade despite the sharp falls in high-yielding currencies, such as the Turkish lira, Indian rupee and South African rand, in recent months.
Protest clampdown amid emerging market sell-off; central bank seen delaying rate increases.
PKO BP buys Nordea Poland; Regulatory flux means pension business excluded
With one or two exceptions, the majority of former Soviet independent states, alongside Russia, have become riskier this year, continuing longer-term trends.
Two-thirds of the region’s 18 countries have seen increased risk since December, not least because of the failure of Cyprus to recover its score decline following the banking crisis.
June was the worst month for emerging markets since at least 2008.
A broad rebalancing of country risk perceptions has taken place this year, according to the June results of Euromoney’s Country Risk Survey.
Eurozone slide is maintained with the region’s average score hitting a new low in June, as 10 of the 17 participating member states succumb to further score declines during H1 2013.
Most corporates are still wholly unprepared for mandatory compliance with the Single Euro Payments Area, the EU’s flagship cross-border payments system, with a lack of understanding of its scope and impact.
Portugal is a ‘red herring’ to assess whether the eurozone crisis is about to blow-up again.
The immediate panic over severe strains in Portugal’s coalition government in reaction to voters’ austerity fatigue is raising fears beyond a delayed restoration of market access.