Economy

xchrom

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19. EU Weighs Ban on Proprietary Trading at Some Banks From 2018

Fri Jan 17, 2014, 07:21 AM

Jan 2014

http://www.bloomberg.com/news/2014-01-16/eu-weighs-ban-on-proprietary-trading-at-biggest-banks-from-2018.html

The largest banks in the European Union would face a “narrowly” defined ban on proprietary trading from 2018 under draft plans by Michel Barnier, the EU’s financial services chief.

Regulators would also have until then to gauge whether some banks should split off their trading activities into separately capitalized units, according to the European Commission document obtained by Bloomberg News.

Banks would be caught by the proprietary-trading ban if they are identified by regulators as “systemically important” at a global level or if they surpassed certain financial thresholds, according to the undated document. The EU blueprint also includes measures to boost transparency in the market for securities financing transactions such as repurchase agreements, or repos.

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