BBA calls for step by step reform

[Legal Beagles]

Care needs to be taken when making changes to EU banking supervision the British Bankers' Association warned today.

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Re: BBA calls for step by step reform

BBA calls for step by step reform


21/10/2009

Care needs to be taken when making changes to EU banking supervision the British Bankers' Association warned today.

The BBA said it supported moves to strengthen macro and micro prudential oversight in Europe and was pleased rapporteurs were now in place to take the European Commission's proposals forward.
Chief Executive Angela Knight said:
"Changes to banking supervision arrangements will have a long lasting impact on the financial services industry in Europe. We need to be sure that we do not act in haste only to have to redo things later. Opportunities to set the framework for supervision come along rarely. Banking is too important to individuals, businesses and the wider economy to not carefully consider proposals - it is much better to get it right than do it fast. We all want a strong banking industry and an effective European supervision system."
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