ECB Launches New Task Force to Simplify Banking Regulation

The European Central Bank has convened a task force led by some of its most powerful governors aimed at simplifying banking regulation, amid growing fears the region is falling behind.

The central bank governors of Germany, France and Italy are among the key figures in the newly-convened group, as is the governor of the Bank of Finland, who’s also the first vice chair of Europe’s Systemic Risk Board, according to people familiar with the matter asking not to be identified as the information is private.