German Deputy Finance Minister Steffen Kampeter said Europe’s future banking supervisor should regulate international banks and leave oversight for some national lenders to national supervisors.
“We don’t want this to be a banking mishmash,” Kampeter said in a speech at the German Finance Ministry in Berlin today. “In those areas where structures have proved themselves, where business has been solid and there’s no threat of any systemic risk, national ownership, national liability should have priority.”
Kampeter cited the “German model,” which combines exchange-listed lenders such as Deutsche Bank AG, savings banks and cooperative banks, as an example for regulation that should leave some powers to national supervisors.
Talks over a European banking supervisor bogged down in a gathering on Dec. 4 in Brussels over how much power to give the European Central Bank amid attempts by Germany, the biggest European economy, to shield its small banks.
Finance ministers will meet again in Brussels to tackle divisions over euro-area bank supervision on Dec. 12.
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