Plans to water down EC draft law to ban banks' proprietary trading
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London
EUROPEAN Union plans to ban banks taking market bets with their own money should be scrapped to avoid crimping the flow of funds needed for economic recovery, an EU document showed on Tuesday.
The bloc's executive European Commission has proposed a draft law to ban proprietary trading at banks and force lenders to isolate other forms of risky trading to help keep the financial system stable.
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