European Union finance ministers
reached a political agreement on Tuesday on a major reform of
banking rules that set the level of buffers banks must raise to
absorb losses and introduce new capital requirements to
strengthen financial stability.
The vice president of the
European Central Bank, Luis De Guindos, warned on Tuesday of the
risks of incompatibility with global standards of a planned
reform of European Union banking rules that would facilitate the
massive sale of bad loans.
The Croatian central bank said on
Tuesday it had bought 494.7 million euros from commercial banks,
taking its spending this year to tame appreciation pressures on
its kuna currency to more than 1 billion euros.
Bank of England Governor Mark
Carney defended the central bank's warnings of a potentially
major economic hit from Brexit which angered lawmakers opposed
to Prime Minister Theresa May's plans for leaving the European
U.S. Special Counsel Robert
Mueller's office will make a sentencing recommendation for
former national security adviser Michael Flynn on Tuesday, in a
court filing that is expected to shed light on the extent of
Flynn's cooperation in the Russia probe.
EU finance ministers agreed on
Tuesday to give the euro zone ESM bailout fund new
responsibilities, but delayed decisions on a euro zone budget
and a deposit guarantee scheme after failing to reach agreement.