Creation of a High-level Expert Group on reforming the structure of the EU banking sector

Banking

In agreement with President Barroso, Commissioner Barnier has today appointed Erkki Liikanen as the Chairman of the future Group.

 

 

Brussels, 16 January 2012 – As announced at the European Parliament in November 2011, the Commission is constituting a High-level Expert Group on structural aspects of the EU banking sector.

In agreement with President Barroso, Commissioner Michel Barnier has today appointed Erkki Liikanen as the Chairman of the future Group. Mr Liikanen is currently Governor of the Bank of Finland and formerly a Member of the European Commission. The Commissioner and Mr Liikanen are together considering the composition of the group.

The Group should start in February and finish during the course of summer. Its mandate will be to determine whether, in addition to ongoing regulatory reforms, structural reforms of EU banks would strengthen financial stability and improve efficiency and consumer protection, and if that is the case make any relevant proposals as appropriate.

Commissioner Barnier said "I thank Erkki Liikanen for having accepted to chair this Group. His banking expertise and European policy background will be important assets. I expect this Group to make all the recommendations as regards the structure of EU banks it deems necessary to strengthen financial stability and enable banks to fully play their role in favour of the Single Market and European growth."

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