EU Bank Regulator is planning fast efficiency pus, says Ettl

(Bloomberg) – The European Banking Authority plans to increase the efficiency of regulation and give more discretion to watchdogs overseeing borrowers. There is “reason to check existing rules” and find ways to make it “more appropriate, better understandable”, “EBA vice-chairman Helmut Ettl said at a conference in Vienna on Tuesday. He also suggested that he give “more discretion” to supervisors instead of regulating “everything in every detail”. The EBA plans to publish 21 proposals at the end of this month and expects to achieve first results by the end of the year, Ettl said. Most proposals can be implemented in collaboration with the European Commission within the next year, he said. Europe wants to reduce the regulatory burden on banks as the US rules roll back, which fueled concerns about the block’s eroding competitiveness. Some regulators are open to the idea, but they are also wary of the tanning rules they consider to be financial stability. The work of a high-level task force of central bankers received the most attention, but Bloomberg News reported that a key proposal turned out to be controversial and that some officials say it would take years to implement. The work of the EBA would quickly achieve results because it would not require changes to underlying legislation, known as Level 1, says Ettl, who is also co-head of the financial regulator of Austria. Instead, the EBA is planning to review the so -called Level 2 and 3 lines it sets, he said, adding that some of these were written 14 or 15 years ago. While the eBA’s proposals still need to be discussed with different stakeholders, “we hope we can really deliver a leap on this,” Ettl said at the conference in Vienna. More stories like these are available on Bloomberg.com © 2025 Bloomberg LP