Europe
Banking and finance news from the United Kingdom, European Union, and broader Europe
MPS board said Intesa’s higher bid left uncertainties for investors
Monte dei Paschi’s board said Intesa Sanpaolo’s revised €34 billion takeover bid still left uncertainties, sharpening focus on a shareholder vote scheduled for 29 October.
HSBC set 2028 phase-out for fixed-pay allowances across senior staff
HSBC will end fixed-pay allowances from January 2028, shifting more senior-staff remuneration towards variable awards while keeping base salaries and its overall compensation approach unchanged.
Spain amended financial rules covering bank resolution and deposit guarantees
Spain's Royal Decree 813/2026 updated anti-money-laundering and financial-market rules, including bank-resolution funding, deposit guarantees, a 3% takeover disclosure threshold and provisions for non-European dual listings.
FCA proposed 90-day notice period for UK illiquid investment funds
The FCA proposed a 90-day minimum redemption notice for in-scope UK retail funds holding mainly illiquid assets, with existing funds receiving two years to comply.
ESMA set three-month deadline for non-compliant stablecoin services across Europe
ESMA told national supervisors to ensure authorised crypto firms stop services involving non-MiCA-compliant stablecoins, with remaining pre-existing exposure remedied as soon as possible and within three months.
Unipol received regulatory approval for de facto control of Italy’s BPER
The ECB and Bank of Italy authorised Unipol to exceed 20% of BPER’s capital and voting rights, enabling the insurer to acquire de facto control of the Italian lender.
HSBC launched ESG-linked improvement loan for smaller continental European businesses
HSBC launched a Sustainability Improvement Loan for eligible small and mid-market businesses in continental Europe, adjusting facility pricing annually as external ESG ratings improve, worsen or remain within agreed ranges.
mBank switched new Polish mortgage benchmark from WIBOR to POLSTR
Poland’s mBank began offering new variable-rate mortgages linked to compounded one-month POLSTR on 7 October, while withdrawing WIBOR-linked home loans from its new-business range for retail customers.
UniCredit sought EU antitrust approval for its proposed Commerzbank takeover
UniCredit sought European Commission antitrust approval for its proposed Commerzbank takeover, opening a preliminary review with a 16 November deadline for the EU regulator’s decision.
EU ministers agreed ESMA supervision shift for major cross-border markets
EU finance ministers agreed key elements of a capital-markets package that would move supervision of the largest cross-border trading venues, depositories, clearing houses and qualifying crypto providers to ESMA.
Eurogroup opened search for Isabel Schnabel’s ECB successor with October deadline
EXCERPT: Euro-area finance ministers opened the appointment process for Isabel Schnabel’s ECB board seat, requiring national nominations by 28 October before the Eurogroup returns to the vacancy in November.
Scotchstone considered rival Permanent TSB offer before BAWAG court hearing
Scotchstone Capital said it was considering an offer for Permanent TSB, adding a second potential challenger to BAWAG’s agreed €1.62 billion acquisition before an Irish court hearing on 27 October.