EU finance ministers to decide on bank trading curbs
LONDON (Reuters) - European Union finance ministers face pressure to find agreement on rules to rein in trading risks at banks after member state representatives failed to reach a deal, an EU diplomatic source said on Wednesday.
Ambassadors from member states met to discuss a compromise on the draft EU law put forward by the bloc's president Latvia.
"They couldn't yet agree and now it will go to the finance minister's meeting," the source said.
The ministers meet on Friday.
The stumbling block was that France had some issues with the text, the source said.
A green light on Friday would pave the way for member state negotiations with the European Parliament on a final text that will become law.
Britain expects to get an exemption from the EU bank
structural reform because it is already requiring the retail divisions of its lenders to hold extra capital from 2019 under its own bank reform, known as Vickers.
The European Parliament's economic affairs committee, which has joint say on the draft law, failed last month to agree a stance ahead of negotiations with EU states on a final law.
(Reporting by Huw Jones; editing by David Clarke)
