EC deadline for bank regulators

City A.M. Reporter
NATIONAL regulators across the European Union must show by the end of the month they are not damaging the single market by being too heavyhanded with banks from elsewhere in the bloc, the EC said yesterday.

Britain has lobbied for more wriggle room as its regulators discourage foreign branches and put pressure on lenders to set up subsidiaries that are required to have their own capital and liquidity buffers to withstand market shocks.