EU banks face ring-fence on trading assets: FT
LONDON (Reuters) – Europe’s big banks could be forced to protect trading assets as the consensus recommendation of an European Union-wide review is due to be completed next month, the Financial Times reported on Monday. The Liikanen review was set up in November by Michel Barnier, the EU commissioner in charge of regulation, to review of the structure of Europe’s banks. The newspaper cited people close to the project as saying a clear majority was in favor of a combination of a ban on so-called proprietary trading and a ring-fence on retail banking activities. . . .
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