Talking about banks and regulation

ECB Mersch is on the newswires showing some compassion (not sure the right word) for banks in a regulated world.

He says:

  • Amid all the regulatory changes that seek to strengthen our financial system, we must remember to leave banks room for maneuvering
  • EU commission will need to define a harmonized European approach to reforming national insolvency laws
  • ECB is aware of banks criticism and of the crucial role banks play transmitting our accommodative monetary policy stance to the real economy

There has been little reaction in the EURUSD as it trades between 1.1171 to 1.1179