European banks seeking mergers face gridlock on friendlier rules

That will make disappointing reading for policymakers at the European Central Bank (ECB), who are expected to signal today a bias towards cutting its already-negative deposit rate this year to try to boost growth and inflation

BRUSSELS: The European Central Bank (ECB) and the lenders it oversees are running out of time in their push for rules to foster cross-border mergers.

European Union regulations need to change so consolidation makes financial sense, the ECB and firms say.