The European Union would be putting together a data base of information on the 'fitness and probity' standing in member states. With this sharing of information, it would become more difficut for bankers to evade regulatory reviews by crossing borders.

Isabel Vaillant, the Regulation Director of the European Banking Authority, told Reuters that the plan would be implemented as to the fitness and probity database by next year. This index would replace the current ad hoc sharing between national finance and banking authorities.

The information contained in the database would include details of assessments of bank directors, senior management, divisional heads and other important functions such as internal control.

Currently, the EBA does not have the legal authority to require countries to set a uniform standard for bankers all throughout the EU. It has promulgated though new guidelines on how countries must evaluate the suitability of bankers. There is also a 'name and shame' process for countries that do not comply with the regulations instituted.