Jonathan McMahon, Global Head of Bank Regulation & Restructuring was interviewed by CNBC on the topic of the European banking union.
The European Commission’s announcement of 12 September 2012 is designed – as part of a package of wider measures - to create the conditions in which the Eurozone’s creditor member states can provide financial assistance to banks in weaker member states. Whether it achieves this objective will be a function of politics, not EC legislation. In our view, the important issue for banks is how the proposals will affect how they are regulated. As this is not immediately obvious, nor necessarily contained in the EC’s announcement, this note summarises what these latest regulatory changes could mean in practice for banks.
To see the summary of Mazars' view on this topic, click here .