EU Finance Chiefs Reach Agreement on ECB Supervision

Dec. 13 (Bloomberg) -- Ministers have reached “historic agreement” on joint banking supervision, Financial Services Commissioner Michel Barnier says in a message on Twitter. * Deal will create a bank supervisor at ECB to oversee

financial institutions in the euro zone and other EU nations

that choose to participate * Negotiations with European Parliament expected to begin next

week, according to Cyprus, which holds the EU’s rotating

presidency * Decision was unanimous, said Jonathan Faull, an aide to

Barnier, also in a Twitter message


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