The European Union’s executive arm has unveiled what it hopes will be its final workaround to shield its lenders from being temporarily hit by harsher trading-book rules than those faced by Wall Street rivals.
The European Commission on Thursday said it had adopted a proposal outlined in April to neutralize the capital impact of the latest Basel measures until 2030. The proposal, which also includes some minor technical tweaks, will now be subject to a scrutiny period from member states and the bloc’s parliament, which could last up to six months.
The EU move comes after the US watered ...
