ECB proposes simplifying rules for banks

FRANKFURT, Dec 11 (AFP): The European Central Bank proposed Thursday simplifying rules for the region's lenders to help them compete internationally, but insisted the move would not weaken guardrails aimed at preventing crises.
Europe has been under pressure to ease a complex web of regulations due to fears its banks will fall further behind already dominant US rivals, as the Trump administration looks to prune rules in the world's top economy.
ECB Vice President Luis de Guindos said the proposals, which will be presented to the European Union's executive for consideration, aim to provide "a more simple framework and to start to reduce unnecessary burdens".
But, during a media briefing, he stressed that: "Simplification efforts should maintain banks' resilience. And by bank's resilience, we mean the level of capital."
A key proposal is simplifying the current rules governing banks' capital requirements, which were introduced following the global financial crisis in 2008-2009.