LONDON/FRANKFURT – The European Banking Authority (EBA) announced the key features of its stress test for 124 major banks in the EU, which will be completed by the end of October 2014. The sample is intended to capture at least 50% of the banking sector in each EU country.

Insurers fear attempts to overrule national legislation, but IAIS emphasises its role as a standard setter By Philip Alexander

Lawmakers are digging in for a fight over finance ministers’ plan to retain a final say in the resolution of failing banks By Melvyn Westlake

The rush to get the Volcker rule out before year-end has provoked bitter internal dissent and an early legal challenge By Charles Piggott

European Banking Authority warns on the risks of using virtual currencies while China bans bank involvement By Philip Alexander

Banking Reform Act becomes law as banks voice concern over provision of hedging for small business clients By Philip Alexander

New proposals for banks and insurers are more nuanced, but industry fears that capital rules are still too severe By Philip Alexander

Critics are warning that American proposals for the orderly liquidation of large failed banks will not prevent future bail-outs By Charles Piggott

A selection of news items generated by the American regulatory reform agenda

BRUSSELS – The Economic and Monetary Affairs Committee of the European Parliament approved proposals for the Bank Recovery and Resolution Directive (BRRD) and Deposit Guarantee Schemes Directive (DGSD) in January 2014. BRRD will now be considered at a plenary session of the Parliament in February, with DGSD most likely due for consideration in April, just before European elections. Both drafts were agreed in trialogue with the European Council and Commission during December 2013.