FIN.

EBA publishes derisking opinion

EBA has published its opinion on the scale and impact of derisking and the steps regulators should take to tackle “unwarranted” derisking. Although EBA feels its guidance ought to help avert the practice, it also suggests regulators shoudl engage with firms that derisk and groups of customers who are particularly affected by it. It also asks the European Commission to publish clarification on the link between AML/CFT requirements and the right to open a basic payment account and to use the upcoming PSD2 review to ensure more convergence in the way payment institutions access credit institutions’ payment accounts services.

Emma Radmore