LONDON (Reuters) – Major European banks want the European Commission to abandon its plans to reform the banking sector, especially since that would be detrimental to the capital markets. That reported Financial Times.
The British and French banking associations establish a joint letter to the committee that the plans again to be held against the light. The committee met in January with proposals out on the approach to the banking sector, including a ban on large banks to trade for their own account and more powers for regulators. These interventions should prevent taxpayers pay for problems at banks.
The banking associations find the plans of Brussels, however, “old-fashioned”. They think that transactions in the capital markets through the action may be more expensive, which would be detrimental to the financing of European companies.
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