Ecofin: ECB supervision of 2014 banks starting November 130

October 15, 2013, 13:05 am | di FIRSTonline editorial team | 0

“This pillar of the banking union adds credibility to the European financial system”, is explained in a note – The new Frankfurt function will take effect from November 2014.

Ecofin: ECB supervision of 2014 banks starting November 130

Ecofin has formally adopted the rules of European banking supervision. According to what has been established by the European economy ministers, the ECB will therefore exercise the functions of direct supervision over 130 banks considered to be of systemic importance, starting from November 2014. "This pillar of the banking union adds credibility to the European financial system", it is explained in a note.

FIRSTonline editorial team

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