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ECB's Nouy urges EU lawmakers not to water down banking rules

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ECB's Nouy urges EU lawmakers not to water down banking rules

ECB's Nouy urges EU lawmakers not to water down banking rules
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Rafael Marchante(Reuters)
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FRANKFURT (Reuters) - The European Central Bank's top bank supervisor urged lawmakers on Thursday to resist "temptations" to water down global rules on trading books and funding agreed under the Basel III package.

"I urge legislators to resist such temptations and continue on the path of reform," Daniele Nouy told an audience in Vienna.

"Backtracking will only take us back to where we came from – a devastating financial crisis."

(Reporting By Francesco Canepa; Editing by Balazs Koranyi)

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