Turkiye has long had one of the lowest non-performing loan (NPL) rates in Europe, but recent years have seen some ups and downs. Between 2017 and 2020, the rate fluctuated between 3.25% and 3.46%. During the pandemic, the rate dropped significantly as borrowers benefited from extended loan payment schedules. Thereafter, the rate rose briefly before falling below the European Union average of 2.27% in 2023. Since the beginning of 2024, however, rising interest rates have pushed the NPL rate back up, to 1.71%. Experts expect the rate to rise to 2.5% by the end of the year, above the EU average and a challenge for borrowers and lenders.
Austria: Digital Operational Resilience Act (DORA) – Opportunities and Challenges
The Digital Operational Resilience Act (DORA) is a central component of the EU’s Digital Finance Package. The aim is to enhance information and communications technology (ICT) security and digital operational resilience in the financial sector. Financial institutions and ICT service providers have until January 17, 2025, to fully implement the requirements.
Lithuania: The Launch of the Markets in Crypto-Assets Regulation
The Markets in Crypto-Assets Regulation (MiCAR) has just been launched, and this brings big changes for crypto-asset markets in the European Union. MiCAR applies to both crypto-asset service providers (CASPs) and crypto-asset issuers, but it focuses mainly on CASPs due to the higher risks involved with their activities. Each EU member state has the option to set its own transition periods for implementing the CASP regulations.
Latvia: Third-Party Assets Held by a Credit Institution in Cases of Insolvency
A credit institution typically possesses funds belonging to depositors. However, there may be situations when the institution also holds property that belongs to third parties. This article aims to examine the concept of third-party property in the case of a credit institution’s insolvency.
Ukraine: The Changing Landscape of Cross-Border Finance
The Russian aggression against Ukraine has reshaped the landscape of cross-border finance in the country. While the initial shockwaves of the conflict saw financing dry up almost entirely, with most support directed toward the government, a gradual but significant shift has occurred.
Miskovic & Miskovic Advises Six Croatian Banks on Republic of Croatia’s State Bonds Issuance
Miskovic & Miskovic has advised Erste & Steiermaerkische Bank, Hrvatska Postanska Banka, OTP Banka, Privredna Banka Zagreb, Raiffeisenbank Austria, and Zagrebacka Banka on Republic of Croatia’s state EUR 1.75 billion bonds issuance.
Rymarz Zdort Maruta and Linklaters Advise on Innova Capital's Acquisition of Majority Stake in ProService Finteco and 50% Stake in IFDS
Rymarz Zdort Maruta has advised Innova Capital on the acquisition of a majority stake in ProService Finteco and a 50% stake in Investment Funds Depositary Services. Linklaters ProService Finteco.