ECB’s Buch: Europe’s banking sector has shown resilience

• Preconditions for EDIS are now met, and moving forward will be important
• Legislators should resist the temptation to relax banking regulation
• Profit levels are relatively high, which provides a good opportunity for banks to invest in strengthening resilience

EDIS is European Deposit Insurance Scheme. It’s a proposed EU-level insurance system intended to protect depositors in case a bank fails, similar to how national deposit insurance schemes work but on a pan-European scale.

There is nothing on monetary policy here and this isn’t a euro mover.

This article was written by Adam Button at www.forexlive.com.