A Swiss International aircraft flies past the HSBC headquarters building in the Canary Wharf financial district in east London February 15, 2015. REUTERS/Peter Nicholls
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EU regulators put pressure on banks to revamp business modelsSome banks must change their business models to make themselves more sustainably profitable in a era of low interest rates and tougher regulation, European Union regulators said Tuesday.The bloc's banking, insurance and markets watchdogs published a joint update on risks to financial stability that supervisors across the 28-country EU will be required to monitor.The report said changes to banks' business models should be assessed to make sure they don't stop the provision of financial services to the economy, such as making markets in stocks and bonds that help companies raise funds.It did not give examples of successful and unsuccessful business models, nor name specific banks.
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