Polish central bank has ramped up its quantitative-easing program, buying the most debt at a single auction since July in a bid to keep a lid on borrowing costs, Bloomberg News reported. The purchases worth 3.75 billion zloty ($968 million) included 1.5 billion zloty of notes issued by state-run lender BGK and seven series of government bonds maturing from 2024 to 2030, according to auction results published on the National Bank of Poland’s page on Bloomberg.

Germany’s financial regulator Bafin has submitted a filing to a court in Bremen to start insolvency proceedings for Greensill Bank, a spokeswoman for the court said on Tuesday, Reuters reported. Greensill Bank was locked down by BaFin this month with a warning that there was an imminent risk that its debt would become unmanageable. The regulator also questioned some of the bank’s financial accounts. “We received an application from BaFin yesterday (Monday) evening to open insolvency proceedings regarding Greensill Bank AG,” a spokeswoman for the district court told Reuters.

A German court on Tuesday declared that a small bank tied to a collapsed U.K. finance company was insolvent, triggering losses for dozens of small German towns, the Wall Street Journal reported. Greensill Bank AG was deemed insolvent by a local court, leaving the towns as creditors that will likely sustain losses. Around Germany, at least 12 towns with a combined €200 million, equivalent to about $238 million, in deposits are in the same situation. Individual depositors are covered by insurance. Among them is Mengen, a tiny municipality in southwestern Germany.

The European Central Bank is shielding the euro-zone economy from higher bond yields partly because the region is rolling out its fiscal stimulus too slowly, according to policy maker Peter Kazimir, Bloomberg News reported. While the rise in euro-area government bond yields this year isn’t “dramatic for now,” the Slovakian central bank governor said the ECB wanted to shore up confidence that the region wouldn’t suffer from higher borrowing costs sparked by the $1.9 trillion U.S. fiscal package. “My concern is that, compared with the enormous U.S.

Poland’s increasingly rickety right-wing governing coalition has split over the €672.5 billion COVID Recovery and Resilience Facility (RRF) — potentially endangering a project that has to be approved by all 27 EU countries before going into effect, Politico reported. The RFF is part of the EU’s €750 billion Next Generation EU package, aimed at pulling the bloc out of the economic downturn caused by the pandemic, as well as boosting key priorities like the green energy transformation. The ruling United Right coalition is dominated by Law and Justice (PiS) with two smaller parties.

France amassed its biggest-ever green bond orderbook in its second sale of new debt, extending a pole position in the market to finance environmental projects, Bloomberg News reported. The nation raised 7 billion euros ($8.3 billion) from the securities maturing in 2044. Investors bid over 34.5 billion euros, about 50% more than for its first such offering in 2017, reflecting the surge in appetite for assets aimed at mitigating climate change. That still lagged the records set in Italy’s recent debut deal.

Deutsche Bank AG is acting as a broker for some investors who are keen to sell their holdings in Credit Suisse Group AG’s supply-chain funds that bought products from Greensill Capital, Bloomberg News reported. The German bank has contacted hedge funds and investment firms to gauge interest for a deal. It’s unclear how many investors are looking to sell and at what price. Credit Suisse started liquidating $10 billion of funds earlier this month after insurance covering some of the debt packaged by Greensill lapsed.

Italy may ask state-owned asset manager AMCO to handle a mounting pile of government-backed soured loans issued to support businesses during the pandemic, Bloomberg News reported. The government guaranteed almost 150 billion euros ($179 billion) of bank loans to small and medium-sized companies through a fund managed by Mediocredito Centrale SpA, a state development bank which is indirectly owned by the finance ministry.

Germany, France and Italy said on Monday they would suspend AstraZeneca COVID-19 shots after several countries reported possible serious side-effects, but the World Health Organization (WHO) said there was no proven link and people should not panic. Still, the decision by the European Union’s three biggest countries to put inoculations with the AstraZeneca shot on hold threw the already struggling vaccination campaign in the 27-nation EU into disarray, Reuters reported.

A group of executives instrumental in Norwegian Air Shuttle ASA’s failed attempt to provide low-cost, trans-Atlantic travel are trying again, this time with a new airline, Bloomberg News reported. Norse Atlantic Airways aims to start operations by year-end, according to a statement Monday. It is 53% owned by shipping entrepreneur Bjorn Tore Larsen, whose company OSM Aviation provided flight crews for Norwegian Air before the carrier filed for insolvency.