The European Association of Co-operative Banks (EACB), the Association of Financial Markets in Europe (AFME) and the European Banking Federation (EBF) have all published responses on the consultation on the recommendations of the High-level Expert Group on reforming the structure of the EU banking sector.

The EACB commented that they agree that the Liikanen Report should be seen as ‘part of an ongoing debate’ as stated by Commissioner Barnier.

The AFME urge the Liikanen Group to conduct a thorough impact study to assess the costs and benefits of their recommendations and strongly encourage efficient co‐ordination of regulatory initiatives to ensure the goal of reducing risk in the banking sector is achieved without harming global financial markets.

In the EBF’s view, the final report is a very good analysis of the causes of the crisis and a thorough review of the European banking sector and the progress of the regulatory reform agenda. However, the EBF does not support the recommendation regarding mandatory separation of proprietary trading activities and other significant trading activities over a certain threshold.