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Europe Daily Bulletin No. 13181

13 May 2023
Contents Publication in full By article 16 / 26
ECONOMY - FINANCE - BUSINESS / Banks
ECB must do better job of monitoring credit risk exposure of large banks, says European Court of Auditors
Brussels, 12/05/2023 (Agence Europe)

The ECB, acting as the single supervisor within the banking union, has stepped up its efforts to supervise credit risk, in particular non-performing loans (NPLs) issued before 2018, but it needs to “better ensure sound coverage and management of risks by banks”, the European Court of Auditors said in a report published on Friday 12 May.

Having analysed a sample of 10 banks with high exposure to NPLs in the 2021 banking supervision cycle, the Court of Auditors notes, for example, that...

Contents

Russian invasion of Ukraine
UKRAINE: we will not get tired in our support for Ukraine, warns Josep Borrell
AGRICULTURE: 13 Members States criticise grain agreement with EU countries close to Ukraine
SERBIA: Ana Brnabić provides assurances that her country “will not be a platform” for circumventing EU sanctions on Russia
EXTERNAL ACTION
CHINA: EU wants to “recalibrate” its relationship with China and strengthen its strategic unity
SUDAN: EU welcomes commitment of rival military forces to protect civilians and calls on both sides to respect it
INDIA: EU and India to conclude Memorandum of Understanding on semiconductors by September 2023
COUNCIL OF EUROPE
COUNCIL OF EUROPE: Ukraine and defence of fundamental rights will be at centre of Reykjavik Summit, which will bring together over 40 European leaders
COUNCIL OF EUROPE: in a Europe in democratic crisis, Reykjavik Summit will be “crucial” for European Court of Human Rights, says Belgian judge Frédéric Krenc
SECTORAL POLICIES
COMPETITIVENESS: Emmanuel Macron’s call for a “European regulatory pause” interpreted in different ways by EU institutions
DIGITAL: European Digital Identity Wallet, Swedish EU Council Presidency probes Member States on national single points
HOME AFFAIRS: EU Member States move closer to mandate over freezing and confiscation of assets of criminal groups or individuals under restrictive measures
CIRCULAR ECONOMY: Ecodesign for Sustainable Products Regulation, EU Council position expected on 22 May at Competitiveness Council
ENVIRONMENT: European Commission consults public on better implementation of polluter pays principle
AGRICULTURE: Farm Europe regrets “variable geometry” conditionality on CAP
ECONOMY - FINANCE - BUSINESS
ECOFIN: administrative cooperation in tax field, banking crisis management and European Recovery Plan on agenda of EU finance ministers
BANKS: ECB must do better job of monitoring credit risk exposure of large banks, says European Court of Auditors
STATE AID: European Commission raises ceilings for aid allowed for certain disadvantaged regions in Hungary
COURT OF JUSTICE OF THE EU
TRANSPORT: transferring responsibility for compliance with driver working conditions to a third person does not relieve a road transport undertaking of its responsibilities, according to EU Court of Justice
NEWS BRIEFS
STATE AID: green light for establishment of ‘Danish Public Investment and Export Fund’
CHINA: EU extends anti-dumping duty on Chinese high tenacity polyester yarn
CONSUMERS: sustainable consumption, Carbon Market Watch welcomes European Parliament vote to ban climate greenwashing
ECONOMY: European Commission approves revised Estonian recovery plan
FINANCE: ‘MiFID-MiFIR’, Better Finance concerned that interinstitutional negotiations will lead to an imbalance for retail investors
DIGITAL: High Level Group on DMA holds first meeting to address implementation of legislation
REGIONS: meeting between partners of 25 beneficiary projects of call for cross-border cooperation microprojects for Pyrenees
TUNISIA: EU is looking at new ways to deepen relationship