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Thursday, 25th April 2024 |
| ECB backs central banks |
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The European Central Bank believes eurozone central banks should maintain their role in banking supervision.
An ECB position paper argues that central banks were better positioned than proposed new universal regulators to detect risks to financial stability quickly because of their role in the payments systems.
The recent debate on the reorganisation of the supervisory structures in some Europe area countries has lead the Governing Council of the ECB to assess the involvement of central banks in prudential supervision.
The ECB said it is ‘firmly convinced that there are valid reasons arguing in favour of maintaining a strong involvement of central banks in prudential supervision.’ |
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| Article appeared in the March 2001 issue.
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