EU plans to reform the big banks - Lords to ask if a ban on risky trading will work
European plans for bank reform and a proposed ban on risky activity are to be discussed by the House of Lords EU Sub-Committee on Economic and Financial Affairs this week as part of a new investigation.
The Committee will tomorrow, Tuesday 8 April, ask a representative from the European Commission what prompted it to pursue bank structural reform, and whether new rules to stop big banks from risky proprietary trading would work.
The Commission representative giving evidence is Martin Spolc, Deputy Head of Unit, Banks and Financial Conglomerates II, DG Internal Market.
Other questions he will face include:
- Why is bank structural reform necessary?
- Why the long delay after the Liikanen High Level Group on EU bank Structural Reform report?
- Why has the Commission decided to adopt a different approach to the Liikanen model?
- How easy is it to implement a ban on proprietary trading?
- In light of the proposed derogation from important elements of the proposal, what would be the likely impact on the UK and its credit institutions?
- How do these proposals compare with the structural reform model set out in the UK Banking Reform Act 2013?
The evidence session will start at 10.20am on Tuesday 8 April in Committee Room 3 of the House of Lords. The session will be webcast at www.parliamentlive.tv and is also open to the public. Journalists wishing to attend should go to Parliament's Cromwell Green Entrance and should allow time for security screening.
The session will be webcast at www.parliamentlive.tv and is also open to the public. Journalists wishing to attend should go to Parliament's Cromwell Green Entrance and should allow time for security screening.