Liikanen report

The Liikanen Report or "Report of the European Commission’s High-level Expert Group on Bank Structural Reform" (known as the "Liikanen Group") is a set of recommendations published in October 2012 by a group of experts led by Erkki Liikanen, governor of the Bank of Finland and ECB council member. On 3 July 2013, by large majority the European Parliament adopted an own initiative report called "Reforming the structure of the EU banking sector" that welcomes structural reform measures at Union level to tackle concerns on Too big to fail banks, that led to the publication of a proposal of Regulation on structural measures improving the resilience of EU credit institutions on January 2014.

The Liikanen Group was molded after the UK’s Independent Commission on Banking: EU Internal Markets Commissioner Michel Barnier set up the group in November 2011 in the context of the European sovereign-debt crisis and great recession. Its mandate was to determine whether structural reforms of EU banks would strengthen financial stability, improve efficiency and consumer protection in addition to the regulatory reform of the EU bank sector. Regulatory reform had been ongoing since 2009 and culminated in the adoption of the European Banking Authority in October 2013.

According to the EU Commission, the 11 members of the ad hoc “Liikanen Group” were appointed solely on the basis of their technical expertise and professional merit. The group held monthly meetings, invited different stakeholders, and invited the public to comment on their draft in May 2012. It was composed of:

European scholars had discussed the need for an EU-wide banking law in light of the European sovereign-debt crisis. In France SFAF and World Pensions Council (WPC) banking experts have argued that, beyond fragmented national legislations, statutory rules should be adopted and implemented within the broader context of separation of powers in European Union law.

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