EU lawmakers narrowly reject draft law on bank structural reform
The European Parliament's economic affairs committee on Tuesday evening rejected the draft law on bank structural reform by 30 votes to 29. According to Reuters, the lengthy vote left some committee members unsure of what had been voted through in detail. The original draft proposed separation of risky trading at a bank if volume is above a certain level. Gunnar Hoekmark, the rapporteur for the bill, told Reuters that amendments backing his push to give supervisors discretion on when separation takes place had been backed by the committee. cep expert Anne-Kathrin Baran warns if there’s no consensus found the European Commission, which drafted the measure, might withdraw it. See also our cepPolicyBrief on the Regulation on structural measures to improve the resilience of EU credit institutions.