EU banking watchdog maps out plan to cut red tape for small lenders By Reuters
By Huw Jones LONDON (Reuters) - Smaller banks across the European Union could save millions of euros by cutting and automating the thousands of data points they must report to regulators, the bloc's banking watchdog said on Monday. The European Banking Authority (EBA) set out 25 recommendations for smaller, simpler banks to introduce over coming years to save a collective 188 million to 288 million euros ($350 million), or 15% to 24% of their reporting costs. "Industry representatives corroborated this in the EBA interviews," EBA said in a statement. The watchdog was looking for ways to...
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