European Commission

336 results about this entity

Period: 16 Nov 2001 - 22 Apr 2024

EU meddling in interchange threatens to derail Sepa project warns MasterCard

MasterCard has warned the European Commission that further interference in the setting of interchange fees runs the risk of derailing the single euro payments area (Sepa) timetable.

European consortium to establish framework for NFC applications

A pan-European consortium of banks, companies, universities and user groups is teaming up to develop an open architecture for the deployment of near field communication (NFC) technology on mobile phones.

European Commission calls for business continuity feedback

The European Commission is calling for feedback on how best to safeguard the region's electronic communication networks against disruption from malicious attacks and natural hazards.

Euro cross border transfer costs down 90%

The introduction of European Union (EU) rules governing cross-border euro payments in 2001 has led to a dramatic fall in costs for consumers and prompted banks to invest in EU-wide payments intfrastructure, according to a European Commission study.

Deutsche Börse implements first step of clearing and settlement code

German exchange Deutsche Börse says it has implemented the first step of the EC-endorsed code of conduct - which aims to reduce the costs of cross-border trading - by publishing prices for equities trading, clearing and settlement online.

Banks under pressure on account switching

Customers will not gain the full benefits of competition in a Single Euro Payments Area (Sepa) unless banks make it easier to switch accounts between institutions, says a group of European regulators which are pushing for a greater say in the preparations for the new payments framework.

Euro Central Bank calls for more clarity on Sepa for cards framework

The European Central Bank has laid down a new set of objectives for payment card schemes to achieve in order to become Sepa-compliant, amid concerns that current provisions would lead to higher prices and a deterioration in service quality.

European Commission to lay down the law on clearing and settlement

The European Commission is preparing sweeping changes to the rules governing clearing and settlement in Europe in an effort to remove competitive distortions and stimulate the introduction of transparent pricing.

McCreevy urges firms to prepare for MiFID

EU internal market commissioner Charlie McCreevy has called for financial services firms to step up preparations for the implementation of the Markets in Financial Instruments Directive (MiFID) after the European Securities Committee approved the legislation.

European Commission to probe transparency risks in non-cash markets

The European Commission is to investigate the imposition of MiFID-style transparency rules for fixed income and derivatives markets.

Lack of competition pushing up trading costs for EU investors says Commission

The European Commission has criticised the lack of competition in EU securities clearing and settlement in a report that compares the cost of trading across seven different bourses.

EC probes payment card schemes

The European Commission has threatened the payment card industry with antitrust action amid concerns that banks and national card networks conspire to thwart competition by raising barriers to new entrants.

Industry bodies cautious on EU payments reform

The EU's draft proposal for standardising cross-border payment transfers has received a cautious response from industry bodies, with the European Savings Banks Group stating the new framework "needs improvement".

EU moves to cut off terrorist funding

The European Commission is proposing that banks register the name, address and account numbers of anybody transferring funds in the European Union, in an attempt to cut off funding sources for terrorists and other criminals.

Europe to review e-money rules

The European Commission is to revisit the E-Money Directive to address recent developments in mobile telephony and Internet payment schemes.

Euro Parliament approves bank charge rules

The European Parliament has passed controversial Commission proposals for a new law limiting bank charges for cross-border low value payment transfers.