ECB establishes taskforce for simplifying banking regulation led by Luis de Guindos

4/29/2025, 7:31 PM

An ECB task force is examining how European banking regulations can be streamlined to avoid unnecessary burdens.

Eulerpool News Apr 29, 2025, 7:31 PM

The European Central Bank (ECB) has set up a high-level task force to examine the simplification of European banking regulation. The working group is led by ECB Vice President Luis de Guindos. According to insider information, the central bank chiefs of Germany, France, Italy, and Finland are also participating in the project.

The trigger for the initiative was a joint letter from several central bank chiefs to the European Commission at the beginning of the year. In it, they called for a comprehensive analysis of the regulatory impacts in Europe to avoid unintended new burdens on the banking sector.

As early as February, ECB Governing Council member Fabio Panetta emphasized that Europe must prevent "excessive regulation" and be open to simplifying existing rules. According to the initiators, the task force's goal is to develop concrete and practical reform proposals.

An official statement from the ECB on the details of the project was not forthcoming on Saturday. Bloomberg was the first media outlet to report on the formation of the working group.

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