• Contact
  • Feedback
Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now
  • News
  • Topics
    • All Topics
    • Briefs
    • Major Banks
    • Authorised deposit-taking institutions
    • Insurance, funds and super
    • Payments, mobile & wallets
    • Consumer lending
    • Mortgages
    • Business lending
    • Finance regulation
    • Debt capital markets
    • Ratings agencies
    • Equity capital markets
    • Professional services
    • Work & career
    • Foreign news
    • Other topics
  • Free Trial
  • Subscribe
  • Resources
    • Industry events
  • About us
    • About Banking Day
    • Advertise
    • Feedback
    • Contact Banking Day
  • Search
  • Login
  • My account
    • Account settings
    • User Admin
    • Logout

Login or request a free trial

EU dedicated to bank ring

02 October 2014 5:17PM
"Complex, important and heavily interconnected banks may still be problematic," EU commission vice-president Michel Barnier said in an end-of-tenure speech in London.http://bankd.co/1rEkJH1Describing the issue  as "another piece of 'unfinished business'" Barnier said the question was: "how we deal with banks that are too big to fail, too costly to save and too complex to resolve.""The financial reforms have done a lot to reduce systemic banking risk and limit the need for states to prop them up to maintain financial stability," he said.Pitching for the 1960s, David Murray style, Barnier pointed to a draft law he said could address the issue. "It would limit the potential for banks to expand their balance sheets through proprietary trading and, in certain cases, to separate trading from a bank's deposit taking and commercial lending activities," he said. "The objective of the proposal is the same as the Vickers reform in the UK. "I strongly encourage Member States and the European Parliament to concentrate on this proposal. Because I don't think our citizens would forgive us if we left an important source of potential systemic risk unchecked."

I'm a returning subscriber

*
Password reset *
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day
Stay Ahead. Stay Informed.
Concise. Candid. Provocative.
Get the daily banking news that matters
Banking Day – Your trusted source for independent financial insights.
Subscribe Now

Consumer lending

  • Latitude, Harvey Norman liable for interest free GO card con

Copyright © WorkDay Media 2003-2025.

Banking Day is a WorkDay Media publication

WorkDay Media Unit Trust

  • Privacy policy
  • Terms of access and use