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Rowing back on U.S. banking regulation would be dangerous - ECB's Villeroy
February 8, 2017 / 12:56 PM / 8 months ago

Rowing back on U.S. banking regulation would be dangerous - ECB's Villeroy

PARIS (Reuters) - It would be dangerous if the United States attempted to unravel post-financial crisis banking regulations, a top European Central Bank official said on Wednesday.

Governor of the Bank of France Francois Villeroy de Galhau attends a press conference after the Franco-German Financial Council meeting in Berlin, Germany, September 23, 2016. REUTERS/Axel Schmidt

“If there were an American temptation to deregulate and say ‘Let’s go back to the pre-2007 situation’ ... it would be a dangerous situation and that would obviously not be desirable,” Bank of France Governor Francois Villeroy de Galhau told BFM Business radio.

U.S. President Donald Trump last week ordered reviews of major banking rules that were put in place after the 2008 financial crisis, which could sound the death knell for new global standards now being finalised, bankers and regulators said.

Reporting by Michel Rose; Editing by Ingrid Melander

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