The European Commission has published a summary of responses to the Green Paper on Shadow Banking. The analysis of comments received suggests that there is support for regulatory measures in the EU subject to key principles, i.e. they have to improve financial stability, they are proportionate, they reduce regulatory arbitrage, they reflect the global characteristics of shadow banking, they improve transparency and they facilitate long-term growth.

The EC are planning a further communication for Q1 2013 and will provide further details regarding areas for which legal proposals might be developed and their respective timing.