Brussels waters down its stand on bank ringfences

The EU commissioner in charge of regulatory reform, Michel Barnier "has signalled a retreat from plans to force lenders to build barriers around their securities trading operations, as policy makers focus on stimulating growth."

According to the Financial Times, Barnier said "that any implementation of last year’s Liikanen report on the structure of European banks would have to “preserve their diversity” and avoid “penalising” lenders that were supporting the economy."

Read the full article here. (Source: Financial Times)