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European Union plans to ban banks taking market bets with their own money should be scrapped to avoid crimping the flow of funds needed for economic recovery, an EU document showed on March 31.
Latvia, current holder of the EU presidency, in its first full proposal to revise the draft law, wants to ditch the ban in the latest sign of how policymaker attention is switching from regulation to reviving growth, and how arguments put forward by banks are being heard.
"The changes reflect the fact that there is a mandatory separation of proprietary trading rather than a ban," the document said.