ECB Warns Against Watering Down Bank Capital Rules
Law360, London (November 12, 2019, 5:03 PM GMT) -- European legislators must stand strong in the face of ferocious industry lobbying in favor of watering down incoming global rules aimed at making the financial sector more resilient to market shocks, a banking regulator said Tuesday.
Andrea Enria, bank supervisor at the European Central Bank, told an audience in Brussels that the final Basel III capital standards need to be implemented faithfully, consistently and in good time.
“European legislators must stand up to national interests and the lobbying of some banks,” Enria said. “When you are building something that is supposed to withstand earthquakes, you should not opt for cheaper materials...
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