November 12, 2019 / 10:30 AM / a month ago

Resist the temptation to water down bank rules - ECB's Enria

Andrea Enria, chairperson of the European Banking Authority, speaks at Reuters Summit interview in London, Britain, September 25, 2017. Picture taken September 25, 2017. REUTERS/Afolabi Sotunde

FRANKFURT (Reuters) - Europe must resist the temptation to water down post-crisis bank regulation known as Basel III and needs to implement the rules to prepare lenders for an eventual crisis, European Central Bank supervisor Andrea Enria said on Tuesday.

“European legislators must stand up to national interests and the lobbying of some banks,” Enria told a conference on Tuesday. “Basel III needs to be implemented faithfully, consistently and in good time.”

Reporting by Balazs Koranyi; Editing by Francesco Canepa

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