Although companies’ financing in Bulgaria remains primarily bank-based, a transformation towards the growing importance of alternative financing has been observed in recent years.
Ukraine: Banking and Financial Services Industry Developments
Notwithstanding the ongoing war, the Ukrainian banking and financial services industry continues to operate without interruptions and shows great resilience and stability. Ukrainian legislation continues to develop at the same time, bringing the standards of banking and financial services closer to the EU requirements.
Austria: New Investment Firm Act – The End of Mixing Apples and Oranges?
Investment firms, which operate in financial markets and provide investment services to third parties, were subject to the same organizational regulations as credit institutions, despite their different business and risk profiles. Their activities are regulated by MiFID II, which was transposed by the Austrian Securities Supervision Act 2018.
Croatia: Resilience Facing the Banking Crisis – The EU Credit Institution Recovery and Resolution Framework’s Role
In today’s global economy, credit institutions play a critical role in providing financial services to individuals, businesses, and governments. However, the failure of a credit institution may result in far-reaching consequences, as we have recently seen with banking crises in Switzerland, the US, and, potentially, Europe.
Slovenia: Are ESG Financings and Alternative Sources of Lending the Answer to Increasing Borrowing Costs and Strict Banking Rules?
In the context of the ESG framework, under the planned allocation within the EU, Slovenia should (according to the EIB) allocate EUR 520 million per year to renewable energy sources and their efficient use, and EUR 780 million per year if we add transport, waste, and water to the equation.
Turkiye: Digital Banking – The Intangible Frontier?
In Turkiye, digital banking has become a hot topic in relatively recent times after the introduction of the Regulation on the Operation Principles of Digital Banks and Service Model Banking (Regulation), published in the Official Gazette dated December 29, 2021, issued by the Banking Regulation and Supervision Agency (BRSA).
The Year of “Green” Ratios
Building upon the key principles set out in the UN 2030 Agenda for Sustainable Development, which included 17 sustainable development goals and 169 associated targets to be met by 2030, as well as on the provisions of the Paris Agreement, regulators in the EU have published the plan for sustainable finance (Renewed Strategy on Sustainable Finance, published in 2021 and based on the action plan originally published in March 2018). Achieving the economic transformation envisaged under the above instruments requires extensive funding, estimated by the UN at about USD 2.5-3 trillion per year.