ECB Lays Out Timetable for Single Euro-Area Bank Supervision

ECB Lays Out Timetable for Single Euro-Area Bank Supervision

Hannelore Foerster/Bloomberg

European leaders in June agreed to hand the ECB powers to oversee all 6,000 euro-area banks from Jan. 1, 2013, as part of a so-called banking union that would unlock joint recapitalization funds for the region’s ailing lenders.