EU Commission Pushes Back Against ECB Bank Oversight Limits
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The European Commission is resisting attempts by some national governments to set limits on the European Central Bank’s planned power to supervise all banks in the euro area.
The Brussels-based commission renewed its call for the ECB to have the right to take over tasks from national regulators without having to justify itself, including supervision of banks that haven’t received public aid and aren’t seen as systemically important, according to a document dated Oct. 25 and obtained by Bloomberg News.