David Cameron's EU deal may lead to twin bank rules
A draft settlement states that “prudential requirements for credit institutions”, and other rules to bolster financial stability, may have to be “conceived in a more uniform manner” for application in the eurozone, with its single supervisor and resolution authority, than in the EU’s nine non-euro states, which include the UK, Sweden, and Poland.
As part of the UK’s drive to wrest changes from the EU and convince voters to support remaining in the 28-nation bloc, in a referendum as early as June, Mr Cameron has tried to win protection for the country’s financial centre, the City of London, in the face of ever-closer financial ties in the eurozone.
