Eurozone finance officials are putting together plans a single authority to regulate the largest banks in the currency zone, the Wall Street Journal reports. The step was mandated at a June summit in Brussels, and is seen as essential by the stronger economies, like Germany.

The bank supervisor would report to the European Central Bank and be the sole supervisor of the 25 largest banks. In the beginning, the regulator is expected to regulate compliance and determine that banks have sufficient capital cushions, but its scope may be expanded later to include dealing with banks in financial distress.

For the full story.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.