Barnier Says EU to Propose Bank-Structure Rules in October

The European Commission will propose bank-structure rules in October, Michel Barnier, the European Union’s financial services commissioner, said in London today.

The proposals will be based on the so-called Liikanen plan, Barnier said.

The EU is seeking ways to structure riskier activities outside of more traditional banking in a bid to take taxpayers off the hook for bailouts and to protect depositors at crisis-hit lenders. Deutsche Bank AG and Credit Agricole SA (ACA) are among banks in the European Union to have publicly lobbied against proposals by a high-level group, led by Bank of Finland governor Erkki Liikanen, to force lenders to separate their trading activities.

To contact the reporter on this story: Ben Moshinsky in Brussels at bmoshinsky@bloomberg.net

To contact the editor responsible for this story: Peter Chapman at pchapman10@bloomberg.net

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