European Union finance ministers are set to agree next week that financial institutions must disclose all risk exposure by the time they publish mid-year results, a document showed today.
The ministers from the 27-nation bloc meet next Wednesday for an update on steps taken to bolster pan-EU financial market supervision, ensure financial stability, and deal with fallout from the global credit crunch.
EU ministers adopted roadmaps last year listing many aspects of regulation of banks and markets that need improving and will agree on updating them next week.
The document obtained by Reuters showed that several targets have been speeded up, highlighting the concern among ministers that the financial industry is being too slow to sort out the problems ministers say it created.