EU watchdogs warn that weakening rules risks another financial crash

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Financial Times 2d ago

EU watchdogs warn that weakening rules risks another financial crash - Financial Times

Quick Summary:

The ECB has been pushing Eurozone banks to address risks from floods, droughts, wildfires and the transition away from fossil fuels, threatening to fine those that drag their feet.

Europe’s drive to simplify and streamline financial regulation is making top supervisors nervous about the risk of key safeguards being watered down.

Probably not,” he said.“Can we do better without paying too much of a price? Possibly.” But he added: “If it were to lead to banks not having the data they need to assess these risks, that would be a problem for banks and would make our work as a supervisor more difficult.