Bloomberg The European Central Bank (ECB) said it will start overseeing “systemic” investment firms as a long-planned legal change adds to responsibilities that have steadily expanded in recent years. Firms with more than 30 billion euros ($35.8 billion) of assets that underwrite or trade financial instruments on their own account will now have to apply for banking licenses under new …

Bloomberg The Irish government plans to sell part of its 676 million euro ($807 million) stake in Bank of Ireland group over the next six months or so, the latest stage in its bid to recoup the bank bailout that almost bankrupted the nation. Part of Ireland’s 13.9% shareholding in the bank will be sold through a pre-arranged trading plan …

Bloomberg Several large Chinese banks are restricting credit to China Evergrande group amid mounting concerns about the developer’s financial health, according to people familiar with the matter. Three banks with a combined $7.1 billion of credit exposure to Evergrande as of June 2020 have decided in recent months not to renew loans to the company when they mature this year. …