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31 March 2015

Reuters: EU presidency wants to ditch ban on proprietary trading at banks

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The European Commission proposed the draft law to ban proprietary trading at banks and force lenders to isolate other forms of risky trading to help keep the financial system stable.

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.

Full article

© Reuters

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