Council agrees liquidity legislation: The Council has decided not to object to the adoption by the Commission of two regulations supplementing the fourth capital requirements directive (CRD4) with regard to the methodology for the determination of liquidity coverage requirements and for the calculation of the leverage ratio. They can now enter into force unless the European Parliament objects. (Source: Council Agrees Liquidity Legislation)

EU institutions agree payment fee cap: The Council and the EP's Economic and Monetary Affairs Committee (ECON) have agreed that the fees charged by banks to retailers for processing customer payments should be capped uniformly across the EU. The proposed cap would apply to both cross-border and domestic card payments. It would be fixed at a set percentage of the value of a transaction. The caps would apply from six months after the legislation comes into force. It is envisaged that the change would result in reduced costs for consumers. "Three-party" card schemes and cards used for business purposes would not be covered by the rules. The deal now needs to be endorsed by Member States and ECON before being put to a vote before EP in 2015. (Source: ECON Negotiates Payment Cap Fee)

Council updates on MMF Regulation: The Presidency has published a revised compromise text on the Regulation on Money Market Funds (MMF) alongside a progress report. Several aspects of the proposal remain contentious, and various new provisions attempt to address them. The Counsel invites the incoming Latvian presidency to carry on from the current compromise position. (Source: Council Updates on MMF Regulation)