Four European central bankers urged EU regulators to simplify rules for commercial banks, arguing that these rules put them at a growing disadvantage to international competitors.
The central bank governors of Spain, Germany, France and Italy wrote to the European Commission, saying a "comprehensive analysis" of the relevant regulations would help ensure "a level playing field with other major jurisdictions."
The rise of the Trump administration has led financial executives around the world to call for a rollback of regulations implemented after the 2008 financial crisis. While the central bankers said they were not calling for a deregulation, the open letter could be used as an argument by politicians who argue that banking rules are too complex and restrict economic growth.
"It is imperative that a comprehensive review of the rules applicable to European banks is undertaken," Jose Luis Escriva, Joachim Nagel, Fabio Panetta and Francois Villeroy de Galhau wrote in the letter this month.
Officials at the Bank of Spain, the German central bank, the Bank of Italy and the Bank of France declined to comment. The European Commission did not immediately respond to a request for comment.
The analysis, they wrote, would help identify areas where the European regulatory framework was too complex and could distort competition at the international level, as well as areas that would not clearly contribute to financial stability.