( May 13, 2026, 11:48 GMT | Official Statement) -- MLex Summary: The EU's plans for boosting bank competitiveness should simplify the legal framework and take non-prudential factors into account, rather than supporting free flow of capital and liquidity in cross-border groups, 13 EU countries have said in a joint letter. Relaxing subsidiary-level requirements would also carry significant economic and social risks, notably in the absence of EU-wide safety nets and common backstops, the letter by Belgium, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Luxembourg, Poland, Romania, Slovakia and Slovenia said.See attached letter....
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