Barnier Says EU to Propose Bank-Structure Rules in OctoberBen Moshinsky and Jim Brunsden
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 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.