EBF has submitted its response to the consultation by the Liikanen High-level Expert Group (HLEG) on possible reforms to the structure of the EU banking sector. EBF takes the view that finishing the ongoing international regulatory reform agenda should be enough to reach the regulatory objectives in the HLEG mandate. EBF claims that a bank’s business model cannot protect it from getting into financial difficulties and that there is empirical evidence that universal banks have been less affected by the financial crisis due to the synergies between their different arms. (Source:EBF Answer to Liikanen HLEG)