Europe
Banking and finance news from the United Kingdom, European Union, and broader Europe
UBS chairman calls Swiss committee’s AT1 proposal an acceptable compromise
UBS Chairman Colm Kelleher said the bank could live with a Swiss committee proposal allowing up to half of additional foreign-subsidiary backing through AT1 instruments.
Raiffeisen rejects short-seller allegations as Austrian bank shares fall sharply
Raiffeisen Bank International rejected Grizzly Research’s allegations about Russia-related business as wrong and misleading, while its shares fell more than 8% after publication on 17 September.
Turkey imposes two-year trading bans after manipulation probes across three stocks
Turkey imposed two-year trading bans connected with manipulation probes covering three listed stocks, while Reuters reported that the regulator filed criminal complaints against 38 people.
Revolut considers dual London and New York listing for future flotation
Revolut chief Nik Storonsky said the fintech was considering a dual London and New York listing, although reports indicated that any flotation remained at least a year away.
Revolut confirms data incident affecting about 680 customers across Europe
Revolut confirmed that fraudulent information requests exposed data relating to about 680 customers, while saying its internal systems and customer funds remained secure and affected individuals had been contacted.
Italy’s competition authority opens investigation into Intesa’s Monte dei Paschi bid
Italy’s competition authority opened an investigation into Intesa Sanpaolo’s bid for Monte dei Paschi, examining deposit and small-business lending competition across 20 and 17 provinces respectively.
Turkey takes market measures after investment-fund liquidity disruption hits trading
Turkish authorities expanded repo funding to TRY300 billion, raised banks’ interbank borrowing limits tenfold and ordered 130 funds liquidated after a liquidity shock unsettled equities.
Bank of England holds rate at 3.75% as three members favour increase
The Bank of England held Bank Rate at 3.75% by a 6–3 vote and set a path to unwind £368 billion of monetary-policy gilt holdings by end-2034.
FCA identifies small business lending barriers and outlines targeted regulatory reforms
The Financial Conduct Authority outlined steps to improve small business finance after finding that its own regulation was not a major barrier to SME access to finance.
UK FCA targets three London premises over illegal crypto trading
The UK Financial Conduct Authority targeted three London premises and issued cease-and-desist letters over suspected unregistered peer-to-peer crypto trading in an operation conducted on 10 September.
UK FCA opens money-laundering investigation into Euro Exchange
The UK Financial Conduct Authority opened an investigation into Euro Exchange Securities over suspected anti-money-laundering control failures spanning February 2020 to June 2026, without reaching any conclusions.
Revolut applies for Swiss banking licence and sets out investment plans
Revolut applied for a Swiss banking licence and announced plans to invest more than CHF150 million over five years, seeking a local banking operation for its more than 1.3 million Swiss customers.