EU Banking Plans Asks ECB to Share Power, Documents Show

The U.K. is pressing for the European Central Bank to share power with national regulators as it takes over euro-region bank supervision, according to policy-planning documents obtained by Bloomberg News.

The ECB should have a core set of central powers to oversee all banks in the 17-nation currency bloc while delegating some tasks to individual countries, under one option favored by the U.K. and European Union economic policy officials. The ECB supports a similar “light touch” approach that would leave day-to-day supervision for most banks in the hands of national authorities, the documents show.