September 27, 2019 / 1:20 PM / 2 months ago

EU's Dombrovksis urges measures to reduce banks' exposure to domestic bonds

BRUSSELS, Sept 27 (Reuters) - The European Union financial affairs commissioner Valdis Dombrovskis said measures were needed to encourage banks to reduce their exposure to bonds issued by their home states, a remark that could irk EU countries with high debts.

“It is necessary to encourage banks to diversify further their sovereign bond portfolios and reduce the home bias,” Dombrovskis said in written answers to EU lawmakers published on Friday.

He will have to go through a hearing in the EU parliament before being formally re-appointed as financial commissioner in the next commission which takes office in November. (Reporting by Francesco Guarascio @fraguarascio)

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