UK banks drive EU ringfencing draft law changes

Author: Lizzie Meager | Published: 7 Jul 2015

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 investment activities. 

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...


 

 

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