EU lawmakers reach 'broad understanding' on curbing bank trading risks

By Francesco Guarascio and Huw Jones BRUSSELS/LONDON (Reuters) - European Union lawmakers have reached a "broad understanding" on new rules to curb risky trading in the bloc's biggest banks, a measure that is fiercely opposed by the banking sector. Draft rules were proposed in January 2014 and are seen as Europe's answer to the Volcker Rule on Wall Street to stop risks from trading hurting other parts of a bank, such as customer deposits. Lawmakers from the main parties in the European Parliamen