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Stock impact report

ECB pushes back against calls for looser bank rules [Yahoo! Finance]

First Citizens BancShares, Inc. - Class A (FCNCA) 
Company Research Source: Yahoo! Finance
Patrick Montagner, one of the ECB's banking regulators, told AFP in an interview that financial watchdogs "must always take a prudent approach to banking". "The banking sector can, by its very nature, cause a lot of instability," said Montagner, whose watchdog oversees more than 100 of the euro area's biggest lenders, from Deutsche Bank to BNP Paribas and UniCredit. Trump's return to the White House has fuelled expectations among major US banks of lighter regulation, and he is seen as likely to scale back the confrontational approach of Joe Biden's administration. Changes are already afoot. Last week Trump tapped Michelle Bowman to be the Federal Reserve's top banking regulator, choosing a vocal critic of efforts to impose tougher rules in response to the 2007-2009 global financial crisis. Such moves in the world's top economy will likely fuel calls for deregulation from European lenders, who had already been complaining frequently that stricter rules were undermining their a Show less Read more
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