Growing Wall Street Threat Spurs EU to Speed Up Banking Review

The European Commission has vowed to speed up a planned review of the competitiveness of the bloc’s banks after the region’s three biggest economies demanded urgent action to ensure their lenders can properly compete with Wall Street rivals.

The Commission will publish a report on the “overall situation” of the banking system that includes an evaluation of the sector’s competitiveness by the end of 2026, according to a document seen by Bloomberg News.