German Chancellor Angela Merkel's governing coalition is urging the European Union (EU) to loosen rules for the savings banks and cooperatives that dominate the nation's banking industry, as the bloc reshapes capital market regulation.
The German parliament will take up a resolution on Thursday calling on the EU to spare local lenders in member states from the full brunt of the 28-nation group's banking rules, according to the draft text obtained by Bloomberg.
The EU's plans to give companies easier access to capital markets shouldn't end up making it harder for banks to lend in the process, according to the paper by the three parliamentary leaders of Merkel's governing coalition.
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