EU Regulator Seeks To Reduce Compliance Costs For Banks

Law360, London (July 23, 2020, 4:19 PM BST) -- The European Banking Authority has asked lenders for their opinion on how much money they pay to comply with its rules as it seeks to cut reporting costs by as much as 20%, particularly for smaller institutions.

The EBA wants to hear from lenders about how it can cut their costs when they report to the watchdog on their financial health. The regulator has asked all European banks to respond as it studies how much it costs them to comply with its rules and is seeking case studies as it gathers evidence.

The regulator said it wants to "make the supervisory...

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