Alternative Investment Management Association Representing the global hedge fund industry
On Wednesday 29 January 2014, the European Commission published its legislative proposal for a European Regulation on structural measures on improving the resilience of EU credit institutions.
The Proposal is intended to increase the structural soundness of European banking entities in the wake of the 2008 financial crisis, inter alia, by:
The Proposal follows the report submitted in October 2012 by the European Commission High Level Expert Group on reforming the structure of the EU banking sector (chaired by the Governor of the Bank of Finland, Erkki Liikanen), as well as work undertaken by the Financial Stability Board (FSB), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD) and certain other jurisdictions on the issue of bank structure to reduce systemic risks.
The Proposal will now be passed to the European Parliament and Council of the European Union for their consideration.
Commission High Level Group report of October 2012 (October 2013)