Council takes position on controversial banking reform

The finance ministers extensively review the Commission’s text targeting ’too big to fail’ banks

No ban on purely speculative activities, and major powers granted to supervisors to separate risky market activities; on 19 June, the member states' finance ministers drew up a compromise (general approach) on the banking structural reform (BSR), which broadly revises the Commission's original proposal (regulation). It is mission accomplished, therefore, for the Latvian Presidency. However, for fervent supporters of the reform, which aims to guarantee financial stability, the EU28's position is not ambitious enough.

In the end, France - which…

Banks targeted

The reform targets global systemically important banks and entities with total assets of at least €30 billion over the last three years, and trading activities of at least €70 billion - or 10% of their total assets. The regulation would not apply to institutions with total eligible deposits (under Directive 2014/49/EU on deposit guarantee schemes) of less than 3% of their total assets, or total eligible retail deposits of less than €35 billion.

Council takes position on controversial banking reform

Banks targeted

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