The EU Commissioner, Michel Barnier, has established a High-Level Expert Group to review possible reforms to the EU banking sector. The Review is aimed at identifying structural reforms of individual banks, and banking systems as a whole, with a view to reducing the probability and impact of failure to a banking system. This Review is differentiated from other reviews and regulatory reforms as, to date, regulatory reforms that have been implemented have been largely focused on the identification of risk and the taking of action to combat and avoid such risk.
The Review Group in this case have been asked to focus on reducing the risks to the banking sector as a whole, reducing the risks posed by individual banks (probability impact), promoting competition and maintaining the integrity of the internal market.
The final report of the Review Group is expected by the end of the summer, 2012.
Click here to access details of the Review Group members.