ECB Opens Consultation on Harmonizing Application of EU Bank Law
- Consultation on draft regulation will run until Dec. 16
- Public hearing on draft scheduled for Dec. 11 in Frankfurt
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The European Central Bank started a public consultation on proposed rules to standardize the application of European Union banking law in the currency bloc’s 19 member countries.
The ECB “today published the draft ECB Regulation on the exercise of options and discretions available in Union law and the draft ECB Guide on options and discretions available in Union law,” the Frankfurt-based institution said in a statement on Wednesday. “These documents lay down how the exercise of options and discretions in banking legislation is to be harmonized in the euro area. This is a major step toward creating a level playing field in the euro-area banking sector.”