Some eurozone countries increasing ‘regulatory fragmentation’, Lautenschläger says
ECB governing council member attacks practice of turning supervisory practices into law
Many "unjustified" differences remain between the banking regulations of different eurozone member states, a European Central Bank (ECB) executive board member has argued.
"Regulatory fragmentation" of different nations' banking regulations is "not just a legacy we have inherited from former times", Sabine Lautenschläger told a workshop at the European Banking Institute in Frankfurt on January 27.
Instead, some countries are "converting non-binding supervisory practices into binding legal acts"
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