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The European Banking Federation (EBF) welcomes the decision made by European Heads of States and Governments last night to empower the European Central Bank to supervise all banks in the Euro area as part of a new Single Supervisory Mechanism. “The clear commitment of European leaders to maintain the integrity of the Single Market is crucial” declared Guido Ravoet, Chief Executive of the EBF. “This confirmation of the political will of all EU countries’ leaders is an important signal that should help bring European solutions to overcoming the crisis.”
The EBF also supports their agreement to establish a single rulebook underpinning the centralised supervision and notes the political determination to conclude on the new capital requirements by year-end. The Federation...
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