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ARTICLE · 13 FEBRUARY 2014

European Commission Legislative Proposal For Banking Structural Reforms

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The European Commission has published a legislative proposal for a Regulation introducing structural reforms to the EU banking sector.

European UnionFinance and Banking
Harvey Knight
Harvey Knight
Kirsten Lapham
Kirsten Lapham
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The European Commission has published a legislative proposal for a Regulation introducing structural reforms to the EU banking sector.

The proposed Regulation will apply to credit institutions' EU parents, their subsidiaries and branches, including in third countries. It will also apply to branches and subsidiaries in the EU of banks established in third countries. However, foreign subsidiaries of EU banks and EU branches of foreign banks might be exempted if they are subject to equivalent separation rules.

The impact assessment and the executive summary of the impact assessment also relate to the Commission's legislative proposal for a Regulation on reporting and transparency of securities financing transactions (SFTs), which was also published on 29 January 2014. That proposal is intended to enhance regulators' and investors' understanding of SFTs with the aim of preventing banks from circumventing the structural reforms by moving activities to the shadow banking

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