BoE outlines capital markets union proposals
Greater centralisation not necessary, central bank says
The Bank of England (BoE) has issued a response to European Commission proposals for a capital markets union (CMU), outlining a number of policies designed to improve market functioning, but warning greater centralisation of supervision would be counterproductive.
CMU aims to improve the efficiency with which capital is allocated throughout the EU; ensuring savings are invested in the most productive ways, helping small businesses access market financing and thereby increasing financial
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