EU banking regulators and UK banks give evidence to Lords Committee
The Lords Committee investigating the EU financial regulatory framework will hear from the European Banking Authority, as well as the British Banking Association and JP Morgan, when they meet on Tuesday 14 October.
In its latest investigation, the House of Lords EU Sub Committee on Economic and Financial Affairs is reviewing the successes and failures of the current regulatory system.
The evidence session follows the confirmation of the appointment of Lord Hill as the new EU Commissioner for Financial Services, and the Committee will be asking witnesses to predict where they see any shortcomings in the existing framework which he would need to address.
Evidence will first be heard at 10.05am from Andrea Enria, Chairperson, European Banking Authority (EBA).
Then at approximately 11.15am the Committee will hear from Anthony Browne, Chief Executive, British Banking Association and Sally Dewar, Managing Director, JP Morgan.
Questions that the Committee will put to the witnesses include:
- What is your overall assessment of the regulatory reforms that were brought in since the outbreak of the financial crisis?
- Which are the biggest strengths and weaknesses in the regulatory framework?
- How effective has the EU's attempt to harmonise rules in the form of the Single Rulebook been?
- The ‘too big to fail problem' – how can the issue of illicit subsidies enjoyed by large banks be addressed?
- Is the integrity of the single market compromised in any way by the introduction of the Banking Union?
- What are the implications for the UK, a non-eurozone Member State, in terms of EU regulatory reform?
The Committee evidence sessions will take place at 10.05 in Committee Room 3 in the House of Lords, on Tuesday 14 October.
The session will be webcast at www.parliamentlive.tv and is also open to the public. Journalists wishing to attend should go to Parliament's Cromwell Green Entrance and should allow time for security screening.
