EU Kicks Off Bank Rules Consultation in Next Step Toward Reform

The European Union is seeking information about the competitiveness of its banks, a key step in its long-awaited review of regulations seen by the industry as impediments.

The European Commission, which is the EU’s executive arm, is kicking off a consultation period to find out how the region’s banks stack up against international rivals, according to a document seen by Bloomberg. Stakeholders can submit feedback in March and April, which will inform a report it plans to publish in the third quarter.