The EC has accepted Visa Europe's promise to cap its multilateral interchange fees (MIFs) for cross-border credit card payments at 0.3%.
The fees that banks charge retailers for processing shoppers' payments should be capped, Economic and Monetary Affairs Committee MEPs decided in a vote on Thursday.
The European Parliament has voted in favour of proposals to extend the migration deadline for processing Sepa-compliant payment transfers by six months, to August 2014.
Judges imposing their countries' maximum penalties for serious offences such as manipulating the LIBOR benchmark interest rate would have to stipulate at least four years in jail under draft rules approved by Parliament on Tuesday.
Today, the European Commission has proposed new rules to stop the biggest and most complex banks from engaging in the risky activity of proprietary trading.
The European Commission has enlisted banks, telcos and universities for a new accelerator programme designed to help tech start-ups scale and take on the giants of Silicon Valley.
A comprehensive rewrite of rules governing trading in financial markets has been agreed by the European Parliament and the bloc's Council of Ministers.
The leading committee of the European Parliament for Economic matters has today given its support to a European Commission proposal for criminal sanctions to tackle the abuse and manipulation of financial markets (IP/11/1218).
The European Commission is proposing to extend the Sepa migration deadline by six months in the face of mounting evidence that market participants are struggling to meet the original February 2014 target for switchover to the new euro payment formats.
On the day it was fined EUR725 million by the EU for rate rigging, Deutsche Bank has confirmed that it has banned traders from using chat rooms, which have proved a fruitful hunting ground for regulators sniffing out market manipulation.
© Finextra Research 2014