EU Banking Review Ready in ‘About a Year,’ Albuquerque Says

The EU’s financial services commissioner expects a review of the bloc’s banking rule book to be ready in about 12 months with some of the changes requiring updates to EU laws, dampening hopes from some in the industry for a speedier timeframe against a backdrop of swift deregulation in the US.

The review is likely “to be ready about a year from now, possibly a bit earlier,” Maria Luis Albuquerque said. “If we can do it faster we will, but I will not commit to that.” Some in the industry had hopes of a conclusion in the first half of ...