The European Central Bank will cancel 40 banking regulatory documents, and the European banking industry believes that the reform efforts are not as strong as those in the United States

The European Central Bank will suspend about 40 banking regulatory guidelines to reduce regulatory burden. European Central Bank executive Erdson stated that more than 130 documents have been reviewed, and the cancelled documents are outdated, replaced, or no longer applicable. The European banking industry believes that the reform efforts are not as strong as those in the United States, which is promoting regulatory relaxation by canceling and reducing some regulatory requirements.