The Council adopted its position at first reading on a draft directive aimed at further harmonising EU rules on deposit guarantee schemes (DGSs) and enhancing depositor protection. This will enable the European Parliament, with which agreement on the directive was
reached in December, to adopt it at second reading at its plenary session in April. The agreed directive, which recasts directive 94/19/EC and its subsequent amendments, requires all banks to join a DGS so that all their covered deposits, i.e. eligible deposits of up to €100 000, are protected. Press release.
IThe European Commission adopted Regulatory Technical Standards (RTS) on criteria to identify categories of staff whose professional activities have a material impact on an institution's risk profile (so-called ‘material risk takers’). These standards identify risk takers in banks and investment firms. This matters because the risk takers are the people who have to comply with EU rules on variable remuneration (including bonuses). Press release.
The European Commission has adopted its Final Simplification Scoreboard: over 120 measures to simplify the EU funding rules for Europe's businesses, towns, regions, scientists and NGOs. Press release.
The European Commission has imposed fines totalling € 5 979 000 on the two leading European spot power exchanges, EPEX Spot ("EPEX") and Nord Pool Spot (NPS) for having agreed not to compete with one another for their spot electricity trading services in the European Economic Area. Press release.
The European Commission has published its conclusions emerging from the in-depth reviews (IDRs) carried out into 17 Member States' economies1. In the same document, the Commission assessed progress in the correction of fiscal deficits in the Member States concerned, updating its opinions on Draft Budgetary Plans from last year. The Commission considers that 14 Member States are experiencing imbalances: Belgium, Bulgaria, Germany, Ireland, Spain, France, Croatia, Italy, Hungary, the Netherlands, Slovenia, Finland, Sweden, and the United Kingdom. In Croatia, Italy and Slovenia, these imbalances are considered excessive. Press release.
Home Affairs Commissioner Cecilia Malström gave a speech at the Transparency International conference : Tackling corruption in the EU: it is time for action.
The European Central bank published:
Agenda of the European Commission.