Reuters: Europe prepares raft of post-Brexit banking reforms
The European Commission is working on its biggest regulatory push on banking since the 2008 financial crash that could curb Britain's access to the bloc, according to an internal draft document seen by Reuters.
In the 12-page strategy document, EU officials outline provisional financial services plans for the bloc's executive body, which sets the legislative agenda, and is due to have new people taking over the top jobs this year for a new five-year term. Officials are pulling together ideas that could become more formal policies later in the year.
The Commission had no comment on Wednesday.
The document makes clear that there will be an acceleration of financial regulation, after many years when little has happened following a spate of rule-making after the financial crash.
It suggests a review of banks' capital rules by June 2022 that would extend an extra...