IIPM Press Release
Even though ECB (European Central Bank) declared in late November 2005 that they plan to increase interest rates that had been kept static for almost 29 months, the fact is that the increasing cost of compliance in Europe, which is due to ambiguity arising from adherence to both intra and inter regional level norms, is acting as an impediment in the proposed integration of European financial markets, especially the banking segment. For example, in UK alone, the cost of compliance for bankers has gone up by over 50% since 2001, due to additional requirements institutionalized by the UK’s Financial Services Authority (The Banker, 2005)….
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Source :- IIPM Editorial, 2006
Even though ECB (European Central Bank) declared in late November 2005 that they plan to increase interest rates that had been kept static for almost 29 months, the fact is that the increasing cost of compliance in Europe, which is due to ambiguity arising from adherence to both intra and inter regional level norms, is acting as an impediment in the proposed integration of European financial markets, especially the banking segment. For example, in UK alone, the cost of compliance for bankers has gone up by over 50% since 2001, due to additional requirements institutionalized by the UK’s Financial Services Authority (The Banker, 2005)….
For More IIPM Articles, Click on IIPM Press Release
Source :- IIPM Editorial, 2006
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