The latest revisions to a pan-European bank
structural reform initially appear to favour UK banks over
other member states. But market participants insist that this
is not the case, explaining that any country is free to
implement its own ringfencing rules, provided they are also
consistent with European law.
Discussions about these reforms has been underway
for years, with the most notable proposed change being the
required ringfencing of banks’ retail and
After an overwhelming majority of the European
Parliament rejected the draft law on May 26, it was beginning
to look like the proposal could be discarded altogether.
Yet just over a month later, the Commission has agreed a
revised draft bill, and is on track to be...