Europe’s ‘bloated’ banking system could be harming growth, says ESRB committee

Academics welcome recent European reforms but warn they may not be enough

European Union map

Europe's banking system has grown "much more" than any other in the past 20 years, and is now so large that it may be harming economic growth in the region, an advisory body to the European Systemic Risk Board (ESRB) said today.

The ESRB's advisory scientific committee, which includes Deutsche Bundesbank vice-president Claudia Buch, described the European Union banking system as "overweight" and in need of "new treatments" in a report released today.

The total consolidated assets of banks

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