European Central Bank Venezuel: EU banking regulators must boldly simplify rules

Golden Finance reported that a senior official working to simplify the rules framework said that European authorities should show courage when working to reduce the regulatory burden on banks without damaging their ability to resist risks. "We should be bold on this path," said ECB Venezuel. "Simplification is feasible - just as complex as possible, as simple as possible." Nagel is a member of a European Central Bank working group that studies the complexity of banking rules. He said this should not be the same as relaxing regulation. European officials are seeking to streamline the massive regulatory provisions enacted by the EU after the 2008 financial crisis to avoid putting European banks at a disadvantage relative to U.S. competitors. The United States is relaxing some of its regulations.